Yesterday, The Bowser Report issued a daily mover alert on Direct Insite Corp. (DIRI), which gained more than 10 percent for the day.
DIRI made yet another bullish move for the second Monday in a row. DIRI reported earnings on March 22 with a conference call following the release. The company reported profits of $216,000 for the fourth quarter, which were up 423% in comparison to last year’s fourth quarter. From a technical standpoint, this move was very bullish since the stock broke $0.745 historical resistance.
DIRI’s current Bowser Rating is at 8 and is lagging due to the recent decrease in sales and lack of an impressive long-term earnings trend. You may consider entering a position now since it is breaking out of it’s recent resistance level. The stock has upside to $1 per share from here and may continue to see buying pressure following the recent earnings release.
All of DIRI’s volume today was from buyers, showing the bullish sentiment surrounding the stock. This buying pressure is most likely due to the recent positive earnings release. However, the recent bounce off of support and breakout of long-term resistance was most likely the reason bulls took an interest in the stock today. Therefore, DIRI popped due to technical investors stepping in opposed to just earnings sentiment.
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