Original post:
On Thursday October 9, we posted "Energy Conversion Devices Fills Gap (ENER)":
...Speaking of May, on May 7, ENER closed at $34.81. The next morning the company reported earnings, the stock gap-opened at $43.95 and closed that May 8 at $49.91 on its way to a top-tick $83.33. Today the stock filled that gap. It's worth a trade but keep those stops tight....On Friday the 10th the stock opened at $31.65 and traded as low as $29.05. Assuming a purchase at the higher number, there's a $10.35 profit at the recent price of $42.00. In theory you could look to the May 8, gap price of $43.95 as the sell target but a 32.7% profit seems fine. Why push it for an extra $1.95?
We will come back to ENER as the earnings season progresses. (they are one of the last to report)
Chart via Yahoo Finance:
