The Power Of A Big Announcement

This is a Post from the Symbol Surfing Blog from Fri, Jul 6, 2018.


Probably the biggest story in the stock market today was Biogen.

Biogen Alzheimer's Drug Success

https://www.cnbc.com

As a result, the stock was up over 19% today.

Fortunately, I bought a few shares on Fri, Mar 16 at $291.

I bought for several fundamental and technical reasons.

Even though the stock is now close to the 52 week high, which is bullish, I decided to sell today and lock in my profits.

Why did I sell?

Simply put, the stock price is near the top of the trading range I highlighted in my previous post.

From a technical standpoint, that made the decision to sell pretty easy while limiting the emotions of fear and greed.

I mentioned the $350 price level and I sold at $355.

Overall, it was a 22% return.

Obviously, this unexpected big announcement caught everyone by surprise.

Fortunately, it was a positive announcement.

If you are new to stock market investing you should be aware that almost all companies report 4 big announcements every year on publicly disclosed dates.

It is called the earnings announcement.

The earnings announcement can move the stock price quite a bit.

So you don't get caught off guard, I highly recommend using an earnings calendar on a regular basis.

What do you think about "The Power Of A Big Announcement"?

Let me know in the comments section!

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Hello! My name is Tom Adishian and I am the creator and developer of Symbol Surfing. I use this site on a daily basis as a time-saving resource to identify trading and investing ideas. If you have a comment, question or suggestion, contact me.

Fri, Jul 6, 2018 BIIB @ $357.48