Corporate earnings season really ramps up this week.
Today, I share 4 companies reporting earnings this week with some interesting stock price action to watch.
Netflix (NFLX) reports Tuesday night.
Since the announcement of Disney+, the stock has gone nowhere in a symmetrical triangle base.
A move through 390 suggests there could be another move higher in the stock.
Ally Financial (ALLY) reports Wednesday morning.
You can see this 29.50-30 area has been critical time and again. If it holds above it beyond earnings, we can look for another leg higher in the stock.
Freeport McMoRan (FCX) reports Thursday morning.
It recently broke out of a 2 year downtrend. However, last week’s price action suggests a hesitance to buy the stock ahead of earnings. A higher high through 14.50 would confirm a longer term trend change higher.
Skyworks (SWKS) reports Thursday Night.
Many market commentators will tell you the stock is stretched. It is, but this also could be a break of a 5 year consolidation. It’ll be interesting to see the reaction to earnings as shares could drop to 105 and still be ‘in good shape’.
Thanks for reading, trade ‘em well!
Twitter: @ATMcharts
Any opinions expressed herein are solely those of the author and do not in any way represent the views or opinions of any other person or entity.
