EarningsBeats Digest

Published: Fri, 01/14/22

EarningsBeats.com Digest for January 14, 2022

Join Us For Our Upcoming Events...

Over the next two weeks, we have four upcoming webinars that you won't want to miss!

We'll be hosting our Q4 Earnings Sneak Preview webinar on Monday, 1/17 at 4:30pm ET. Join Tom Bowley, Chief Market Strategist as he separates the good, the bad, and the ugly initial earnings reports. In addition, Tom will take a look ahead to upcoming earnings reports to identify stocks that he expects will post blowout numbers.

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Here's A Stock That You Can Cruise Along With

Many market pundits believe the Omicron variant poses big risks for our economic recovery, but most technical signs point to the opposite - I'm seeing strength in areas that most would consider unlikely given a resurgence in COVID cases. I don't ignore these signals. For instance, travel & tourism ($DJUSTT) stocks have been rising since forming a triple bottom in December. The group is up nearly 15% in 3-4 weeks, which seems reckless given the COVID numbers. But that's why I pay attention to charts and not the news. Check out the performance in Norwegian Cruise Lines (NCLH):

NCLH closed at its highest level since late November and volume is increasing. The daily PPO has moved back above the centerline and NCLH is showing rapidly-improving relative strength vs. the benchmark S&P 500. The big question here is.....will it continue? In the bottom panel, the red arrow marks a very significant level of relative resistance. If NCLH can negotiate this level, I believe it could make a run to challenge the double top from September and November just above 29.

Wall Street is ignoring the hype and seems to be building positions in stocks like NCLH.

Happy Trading!

Tom Bowley
Chief Market Strategist

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