It may be hard to even think about earnings plays tomorrow after the bloodbath that occurred today but the show must go on. Besides a few small banks reporting tomorrow, there are a few notable companies earnings calls to keep an eye on. And always have the idea in the back of your head that the when the market picks a direction sometime good or bad earnings might not have any effect on the near term price action.
$Kimberly-Clark (KMB.US)$ Many companies in the consumer goods space have reported great sales numbers despite sky high prices due to inflation. They had great responses to their earnings reports. A big boy in the consumer space like this one should surely be able to match the great earnings reactions from its peers. Also KMB’s share price is near crossing into bullish territory as MACD value is about to cross above the histogram. All we need is a good earnings report tomorrow and theoretically we should flip to bullish.
$Verizon (VZ.US)$ Huge telecom company. Great Dividend. Consistent long term uptrend. All indicators are pointing to bullishness. Price is above all major moving averages. It is breaking out of the Bollinger Bands. It broke above trending resistance after some brief friction near resistance level. A little friction is healthy at a major resistance. RSI and KDJ are staying in oversold territory but that is conducive of a solid rally. MACD is about to cross into bullish territory. It even appears to be forming the second phase of an Elliot Wave. And it is approaching all time highs. What is not to like about this one. But I must say that after a day like today, and the fact that this VZ’s share price has been in a sharp rally it is possible that a bad earnings call will put this equity on the sidelines for a bit to take a small breath.
It is very possible that VZ may return to the uptrending range it was confined to previously as well.
$Schlumberger (SLB.US)$ A big oil company with surging oil prices is expected to have good earnings from higher oil profits. But anything can happen. Oil has been rallying so it is safe to assume that they might have a good earnings report which might cause the price action to bounce off ranging support like it has several time before recently. It will be interesting to see how a bad earnings call will effect this oil giant since oil prices a very elevated and expected to be that way for a while. On a bearish note, A divergence with MACD and share price has been taking place for a while showing weakness of the uptrend.
$American Express (AXP.US)$ You can’t have a daily earnings list without AXP. Great long term buy. Hell of a company. ’Nuff said. Just wait until after earnings before making a move.
$Cleveland-Cliffs (CLF.US)$ This is a name in the steel commodities field. Definitely something to watch during this huge commodities rally. Be careful with this one though. Its current rally is showing serious signs of weakness. We need some good earnings on this one to keep the rally afloat. Bad earnings could give it some downtime from the uptrend temporarily.
$Newmont (NEM.US)$ Another commodities play to watch. Metals and Mining to be exact. The technicals on the chart are showing a sharp change in trend to the downside already so people might not want to touch this one. But it must be included since commodities are outperforming everything lately.
solo invest : I will definitely be keeping my eye on these, thank you!