CMG, V update October 24

CMG: reports earnings tomorrow after hours. Price has been range bound for months and some positive divergences are setting up (MFI14). A break above $438 can be longed for a trade to at least $490+ (based on symmetry) and similarly a break below $388 will lead to $330s. That simple. We’ll know after the closing bell tomorrow which way it will be.



V: good earnings but flat to down reaction after hours. Looks like it needs a retrace down to high-70s before it can go higher again (3 steps forward, 2 steps back)