EarningsBeats.com Digest for February 8, 2021
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Could This Software Stock Be A Portfolio Stock?
Now's the time to review the solid earnings reports and those companies that are showing tremendous leadership. Well, Bill.com Holdings, Inc. (BILL) certainly has made its case for possible inclusion in one of our portfolios when we announce the 10 equal-weighted stocks that will comprise each of our 4 portfolios. Quarterly revenues came in more than 15% above estimates and the expected loss of (.08) was actually less than half that at (.03). I
think the chart speaks for itself:
There's plenty to love about this chart. Volume was monstrous after earnings were released on Thursday after the close. More than 6 million shares changed hands Friday as BILL gapped higher to clear prior resistance and continued moving higher thoughout the balance of the session! That last part is very important as market makers take the short side at the opening bell. When a company prints the type of
hollow candle that BILL did and on that volume, it's a solid indication that there's plenty of accumulation taking place. The AD line has been solid throughout the past year as well. I see higher prices ahead for BILL, but it'll be a crowded field in software ($DJUSSW) when the time arrives to fill out our portfolios. BILL may be one of the last stocks standing given its technical state.
Happy trading!
Tom Bowley
Chief Market Strategist
EarningsBeats.com
Better Timing. Better Trades.
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