There are 2 types of reports - paid and free.
For paid report, the paying client receives the report and then it is released to the public a few days later. The paying client and insiders have a few days to react to the report.
For free report, insiders may react to the report before it is released to the public.
When the report is released, there may be a sudden increase / decrease in price or volume. We can use TA to respond to the price/ volume action before the report is made...