P (Pandora Media Inc) is currently trading higher in the after-hours session (around 6.30) following their earnings release which comes on the heels of the stock breaking out above both the primary downtrend line + top of the basing pattern around 5.41. Note: The daily chart below is reflective of today’s closing prices & does not include the AH session trades.
P daily May 3rd
Pandora was recently highlighted as a potential long trade idea in this March 22nd post (previous chart below) but with the breakout of those dual resistance levels coming just before the company’s earnings report today, it was only prudent to hold off on an entry to avoid the risk of a potential large gap against a position that could have caused the breakout to fail. Watching the stock for an objective entry tomorrow or next week for a potential swing trade up to a backfill of the gap.
P daily March 22nd