IBD Stock Of The Day: iRobot Looks To Clean Up With Earnings Report

Came out of deep cup base of 39% and formed a shallower flat base March 5 Stock is just below buy point of 132.98, but earnings report is due late Tuesday Watch to see if iRobot stock breaks out; breakaway gap may bring greater gains

Home-cleaning robot leader iRobot ( IRBT ) is the IBD Stock Of The Day as the Roomba maker approaches a buy point ahead of its first-quarter earnings report later Tuesday.

Typically you would place your stop loss below the low of the breakaway day.

Another good sign is ownership of iRobot stock by leading growth funds such as Primecap Odyssey and Columbia Acorn.

For the first quarter, Wall Street expects iRobot to earn 68 cents a share on sales of $252 million, according to Zacks Investment Research.

Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor companies.

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