If you're trying to build your earnings season watch list by looking for stocks setting up in a base ahead of their next quarterly report, here's one that fits the bill: Aspen Technology (AZPN). It's expected to report on Jan. 23 and is trading about 7% under a 142.25 buy point. The current formation is a fifth-stage cup without handle.
XUnderstand that it's risky to buy any stock just before it reports. You can reduce your exposure by waiting to see the actual numbers and the market's reaction. You can also use an options strategy to limit your potential downside.
Looking For Winning Stocks? Try This Simple Routine
Aspen Technology posted 23% EPS growth last quarter, while sales growth came in at 17%.
Consensus analyst estimates call for EPS growth of -13% for the quarter, and -8% growth for the full year. Annual growth estimates were recently revised lower.
The company has a 97 Composite Rating and earns the No. 6 rank among its peers in the Computer Software-Enterprise industry group. ServiceNow (NOW), Paycom Software (PAYC) and Paylocity (PCTY) are among the top 5 highly rated stocks within the group.
Note: Dates for earnings reports are subject to change. Check the company's website for any updates.
YOU MAY ALSO LIKE:
Earnings Calendar, Analyst Estimates And Stocks To Watch
New Option Strategy Limits Risk Around Earning
Catch The Next Big Winning Stock With MarketSmith
IBD Investing Video Channel On YouTube: Browse Here
