PPR - Motorcity, Inc. (MOTR) Bottom-Fishing Pocket Pivot Into Earnings Tomorrow

Published : February 7 2011 at 19:47 ET

MotorCity, Inc. (MOTR) will announce earnings tomorrow after the close, and today's action might be a clue with respect to a favorable earnings report, although the stock still has to get through another full day of trading tomorrow. The chart below shows a "bottom-fishing" type of pocket pivot coming up through the 50-day moving average after a period of rounding out the lows of what may be a potential cup base. MOTR came public back in June of 2010 at $10-per-share, and subsequently tripled after building a base throughout the summer of 2010 and then breaking out with the market in September 2010. This recent pullback is about 50% deep, so the stock is trying to come up the right side of what would be a very deep cup. The idea here would be to use the blue 50-day moving average as a rough selling guide.

Chart courtesy of HighGrowthStock Investor (www.highgrowthstock.com), Copyright 2011.

This information is provided by Virtue of Selfish Investing, LLC (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing, LLC. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2016 Virtue of Selfish Investing, LLC. All rights reserved.