TSCO (Tractor Supply Co.) was posted as a Long Swing Trade as well as a Long-term Trade Setup last Thursday with an entry to be triggered on any move above 52.70. The stock went on to trigger that entry the following day & followed up with an impulsive move beyond the bullish falling wedge yesterday. I was reviewing the charts today as TSCO is scheduled to report earnings after the market close today & I noticed a typo on last week’s chart. T1 was incorrectly listed as 52.40 (which would have been below the actual entry price) instead of 54.20, which is set a few cents below the resistance line on that chart which comes in at 54.23. Previous & update charts below:

As I’ve stated in the past, it has been my experience that more often than not yet certainly not always, stocks that are poised in a clearly bullish (or bearish) technical posture tend to rally (or move lower) in the wake of their quarterly earnings. Stocks with an ambiguous technical posture (not clearly bullish or bearish) are essentially a crap shoot as to which direction they will react following earnings. Gaps also have the potential to bypass a well placed stop-loss order, exceeded one’s predetermined loss allowance & as such, each trader or investors must decide whether or not to hold a position into earnings.