The Gilmo Report

January 24, 2021

January 24, 2021 12:58 am ET

As the major market indexes remain in an uptrend, jostling around their all-time highs, it was earnings season that offered another bit of interesting action on Thursday, this time with Intel (INTC). The company was expected to report after the bell, but a hacker apparently got to the earnings report first, and it was released by Bloomberg about 15 minutes ahead of the closing bell.  This sent the stock rocketing above the $64 price level.

That move was immediately sold into, triggering a MACD stretch and cross well above the $61 level. One can also observe the series of red bars following the initial blue jack higher where we see long upper tails across the board with heavy selling volume. I just happened to be looking at the stock right at the time as I was prepping and going through in my head all the possible permutations of price action that might occur once earnings were out after the close.

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