Zeev's Turnips Patch-No Politics (ZEEV)

[madrose1]

JOYG eps monday am

Joy Global-JOYG: Earnings Release Technical Preview
BULLISH CASE: In minor uptrend. On better than expected news/outlook the stock could trade to the midpoint of the bullish price channel at $44.54 and to the upper limit of the price channel at $45.89. On a bullish breakout above the price channel the following resistance levels would become upside objectives: $46.92, $47.97 (just above 200-day moving average at $47.81, major resistance, very bullish if broken), $49.36, $50.35, $51.44, $53.18.

BEARISH CASE: On worse than expected news/outlook the stock could trade to the lower limit of the price channel at $42.98. On a bearish breakdown below the price channel the following support levels would become downside objectives: $41.84 (50-day moving average, major support, very bearish if broken), $41.25, $39.90, $39.00, $37.99, $36.94, $35.92, $35.34.

NOTE: Small short-base (1.69 days to cover, 3.29% of float is short, 1.520M 10-day average volume). Reactions on a surprise have a high probability of being extreme in duration and price.