Earnings Preview: The Technical Temperature
This is a big week for earnings so Carl and Erin break down the technicals on stocks preparing to report. Some are already poised for success, but others should be avoided. Don't miss their views on the Magnificent 7 and many others that are reporting this week. Click HERE to subscribe to our YouTube Channel.
Synopsis:
- Several major tech stocks like Google, Microsoft, Amazon, Apple and Meta are reporting earnings this week, so the market will be watching those closely
- Energy stocks like ExxonMobil and Chevron look poised to do well given rising oil prices, but should still be watched closely around earnings dates
- AMD is vulnerable to a pullback given its parabolic rise, while stocks like MasterCard and Starbucks look risky going into earnings given bearish technicals
- The Uranium ETF URA has tripled in the last year and looks to have further upside potential based on the chart
- Boeing's issues may still be weighing on the stock despite identifying the specific problem that caused crashes
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Technical Analysis is a windsock, not a crystal ball. --Carl Swenlin(c) Copyright 2024 DecisionPoint.com
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