What Will This Stock Do Ahead Of Earnings?
The E-minis have rallied out of a complex double bottom and off the S1
pivot and are now in the green. We’re slowing up here as we approach the
intraday highs, which may be taken out later. If this happens, the .618
retracement of yesterday’s high to today’s low is the 896 area and yesterday’s
high is 905. These are possible targets.
General Dynamics may rally from a 1,2,3.
There was a large volume bar at 13:05 that indicates institutional activity.
Amgen has been on a tear today ahead of its scheduled earnings announcement
after the bell. The stock is pulling back a little here, and may rally out of
this pullback.
The Semiconductor HOLDRs have resistance in the $23 area. If this level is
taken out, we could see a nice move up, as it has been building a bit of a base
for the past three days.
Have a good afternoon,
Brice