CGNX put up monster earnings in my opinion and moved up 20% A.H.
Here's where it's coming from:
I bought @ 44.85 as it looked like it was going higher. Its after hours high went over 47. This is a test trade for me as I want to put the post earnings continuation trade in my playbook. The trouble of course is how do you know whether a particular move will be a break away gap or whether it will fade?
Unless I have real money on the line I don't think I can analyze my theory. So I bought 100 shares, which is small enough that If the gap fills it won't damage my R. It closed AH trading at 44.
I'll use 42 as the stop.
I've bet this CGNX will be a continuation move rather than a pop and drop.
Here's the S.A. type summary.
Cognex +23% AH on Q2 beat, strong guidance