Monster Earnings Week Ahead
Going to be a fun week. Some charts for names I’m watching. Definitely not exhaustive. Feel free to message me with any you’re keeping an eye on.
Monday -
Wrote about this one last week, and opened a position. I rarely do this with an unfamiliar name, and I simultaneously grabbed a protective put for a hedge into the report. I expect we’ll get a resolution to whether this was a breakout or fakeout.
Tuesday -
No position here, but there’s been some heavy negative RSI divergence taking place, and I’ll be watching to see whether the stock can hold this $155-157 level, or if some give back is in order.
An obvious attention grabber, the chart doesn’t look great over a short timeframe, and there are some unfilled gaps below. This is a name where the post-earnings reaction will likely open up a trade opportunity for me.
Wednesday
I grabbed some for my longer term accounts when the stock broke above the 200 day. I’ll be out if that proves to be another fail, but if not, it might be a name I even add to if it looks like this protracted downtrend is over.
I’m really interested in this one. I’ve sold call spreads against $70 and put spreads against $50 recently. Stock broke below its 200 day last week and is hovering right at oversold RSI levels. This has been a tough space to be long in recently ( MCD 0.00%↑ has been a wreck as well). Did the sellers flush this one out ahead of the news? Another name where I expect constructive trade opportunities to emerge.
F 0.00%↑ has had a nice run of late, but remains a mess over the longer term.
Thursday
I’ve developed a level of comfort trading the airlines over time, and AAL 0.00%↑ is of particular interest to me this week. The positive RSI divergence is notable, and the stock isn’t too far from its covid lows. I’m watching this for a breach of that AVWAP from the recent gap down, which would be my signal for a short term opportunity to play for a bounce.
Not an exhaustive list by any means, but should be a very active week. What are you watching?