Two earnings/guidance reactions of note in the market today are in the stocks of FBHS and PNRA.
You can see on their daily charts, the first two below, that both stocks had been on the verge of seemingly major breakdowns.
However, the next two charts give you the better overall perspective of weekly chart uptrends. To be sure, this morning’s gap higher in both stocks adds to bullish nature of the weekly timeframes. The exercise also enables traders eager to short to often avoid traps of calling tops in stocks where it seems as though it is a can’t-miss short headed into earnings.