Elliott Wave Live: Continental Resources : Earnings

Thursday, November 8, 2012

Continental Resources : Earnings

Continental Resources Reports 55 Percent Production Growth And 46 Percent EBITDAX Growth In Third Quarter Of 2012

Read more about Q3 from the Company's website.

A screen shot of the weekly chart shown above was printed out on 10/26/2012 where a trendline break and a thrusting bar to the downside. Earnings was set to be released on 11/7/2012.

Fast forward and we see that price tested the under-side of the trend line and was rejected. Today, we should see the market reaction to earnings. While I have not yet applied elliott labels. Downside fib extension clustering, agreement with the .618 fibo as well as chart support make this a key area that I will be focusing upon as I apply the Elliott Wave Principle to the charts.

Look for a follow up post on my findings but by all means, don't wait for me. Learn by doing.

Best of Trading

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Fair Disclosure Notice: I do not have a position in any of the aforementioned futures markets or securities related to this article.

1 comment:

MikeNovember 8, 2012 at 6:32 PM
Stock closed down $3.24 today
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Thursday, November 8, 2012

Continental Resources : Earnings

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