Top Equity news swung and missed on out last few trading earnings picks. Let’s see if we can’t make up for it this week!
Mitcham Industries Inc. (MIND) will report earnings results after the market closes on Tuesday, April 3, 2012.
MIND is expected to earn $0.57 for its 4th quarter. Top Equity News expects the Rental & Leasing Services provider to report earnings that will beat Wall Street’s expectations. TEN’s estimate is 63 cents – a 6 cent upside surprise.
For six of its last seven quarters, MIND has exceeded Wall Street’s consensus estimate by at least 10%. The stock price rallied handsomely for shareholders 10 of Mitcham’s last 12 quarterly checkups. Including and a 42% run in the days surrounding last quarter’s results.
MIND shares corrected sharply from $26 to $20.50 in late February and early March. Since then, the stock has been zigzagging around, setting a series of higher intermediate highs and higher lows. That sort of sideways Z patterns usually marks the beginning of a new trend.
Despite the slightly ascending sideways trading, Ma bullish MACD crossover has emerged on Mitcham Industries’ chart. The technical buy signal has been kind to investors when it occurs under the zero line. Two of three incidents slightly preceded earnings, and, in both cases, the stock gapped higher.
If our forecast is correct and management provides upwardly revised guidance, a move to $24.50 could happen with ease. Should the announcement fall short, $20.50 is as low as TEN would be willing to go?
Trading Earnings: Playing MIND Games is an article from: 
