Earnings Vs Chart Patterns: Agree Reality-ADC: An Update

Disclaimer: I am not affiliated with-ADC in any way. I have been long the stock, and added to my position.

I am always interested in the chart patterns that I review. Do they forecast the news, or does the news forecast the chart patterns?
Three days ago I alerted all that ADC-was to release its earnings on 07-25-16. Here is what the company did in the latest quarter:
On 7/25/2016, ADC reported 2nd quarter 2016 non-GAAP earnings of $0.48 per share. This result beat the $0.37 consensus of the 4 analysts covering the company and beat last year's 2nd quarter results by 26.32%.
Total Rental Revenue---Total rental revenue, which includes minimum rents and percentage rents, for the three months ended June 30, 2016 increased 23.6% to $19.9 million, compared to total rental revenue of $16.1 million for the comparable period in 2015.
Total rental revenue for the six months ended June 30, 2016 increased 25.8% to $38.6 million, compared to total rental revenue of $30.7 million for the comparable period in 2015.
Funds from Operations---FFO for the three months ended June 30, 2016 increased 23.8% to $13.8 million, compared to FFO of $11.1 million for the comparable period in 2015.
Dividend---The Company paid a cash dividend of $0.48 per share on July 15, 2016 to stockholders of record on June 30, 2016, a 3.2% increase over the $0.465 quarterly dividend declared in the second quarter of 2015.

Now I think this is a great release, BUT, the stock did retrace about 2% in the two day period after the earnings release.
Buy on rumor, sell on news? Who knows? Personally, I look for extremely strong chart patterns, BUT, I do my fundamental homework also.
I used the 2% draw-down as an opportunity to add to my position. I think this issue will continue to be strong on a technical basis - and with interest rates so low, and ADC-raising its dividend (to almost 4%), there are a lot of things going well for-ADC. This is a stock that I want to be long.
How about another quote from Alfred E. Neuman?
"A plastic surgeon's office the only place where no one gets offended when you pick your nose!"

Good luck to you. Don.