Web Developer Slammed On Earnings: Here's The Play
InTheMoneyStocks.com | Feb 21, 2019 01:46PM ET
Wix.Com (NASDAQ:WIX) is a leader in web development platforms that help businesses and organizations create and manage a digital presence. The company sold off sharply after reporting earnings on February 20, 2019. The stock peaked just before earnings at $125.84 a share on February 19 and is currently trading around $108. It should be noted that the stock ran up into its earnings announcement, so most of the good news was probably already factored into the stock price.h3 Enter Here/h3
One support area that I will be watching closely to get into the stock is around $96.50. That's where WIX broke out in early January. Remember, stocks that retest breakout levels often find defense when initially tested.
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