Asure Software (ASUR) Moves to SELL
Asure Software (ASUR) reported this morning and results came in just shy of expectations. It wasn’t a total whiff, and there are a lot of details from the report and the conference call that we could discuss. But the bottom line is that the stock is selling off hard and is back down to its 200-day line, and in the zone of support that’s held for the last four months.
I had expected this earnings report to be the catalyst to send shares up to a new trading range, but that clearly hasn’t happened. Unfortunately, the stock didn’t have the strongest uptrend going into the report, and today’s action significantly reduces the probability that it will break out anytime soon. Therefore, regardless of the “story” and the fundamentals, there’s not much reason to own it now. We’re better off buying and holding other outperforming stocks. Let’s take the reduced profit we have now.
There’s no reason to rush to sell all your shares right this second. The stock will likely bounce over the coming days and afford a better exit price. SELL.