The aftermath of Evertec (EVTC) (February 20, 2019)

by DAN EVTC 
One more video here on Evertec ( NYSE: EVTC ) and here’s why: I have been covering this for a few days, you can look at the other Free Chart Videos on this.

This is my trade that I mentioned yesterday. The company was reporting earnings after the bell today. I had this stock at a much lower cost basis and I said what I would do is, I would sell at least half of my position going into earnings and then just hang onto the other half. I actually sold like two-thirds of it but I did want to keep some. So I have lowered my cost basis pretty low, actually below this line now.

I am able to hang onto this stock, it is very thinly traded, but I am able to hang onto this stock, very happily with what I have. It trades down here at 29.00 maybe even 28.50 or so and I am still sitting fat and happy in a small position. And then I might just wind up buying this stock back, buying the shares back that I sold at a lower price than I sold them for.

I am kind of rebuilding my position after earnings. That doesn’t have to be done tomorrow; because the way you look at this is, this is now all resistance. Everybody that bought over the last couple days, that didn’t sell, the company reports earnings; the stock is trading down, these people all want to get out here. So this could take a bit for the stock to start getting to a point where it can start pushing higher again.

I am happy with what I have I am not going to sell the rest of it I am just going to let it sit. I could be sitting on those shares for a week or two or three before I even do anything else at all.

Free Chart