EarningsBeats.com Digest

Published: Wed, 05/20/20

EarningsBeats.com Digest for May 20, 2020

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Dear Digest Subscriber,

A Tremendous webinar last night with EarningsBeats.com Chief Market Strategist Tom Bowley unveiling his Top 10 Stock Picks in his 4 portfolios - Model, Aggressive, Income, and Strong Accumulation/Distribution. 40 stocks in all!

These stocks are meant to be held for the next 90 days though, as Tom explained during the webinar, every trader can decide for his/her self how they want to trade each stock. But these stocks represent the "best of the best" of the portfolio they are in.

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Wall Street Is Expecting A Big Report From This Specialty Retailer

Specialty retail ($DJUSRS) has been performing exceptionally well since its January relative double bottom. One stock in this space that's begun to pick up the pace is Best Buy (BBY). It broke above its 20 day EMA in early April and hasn't looked back, not once closing beneath that key moving average. In order to continue its run higher, however, it's going to need to be able to clear overhead closing price resistance at 91.09:

BBY took a 4% hit on Tuesday, but its absolute and relative strength since the beginning of April suggests that Wall Street could be looking for some good news when BBY reports its quarterly results before the opening bell on Thursday. At this point, I'd view the two key price levels to be 91.09 resistance to the upside and 76.25 support (20 day EMA) to the downside. Tuesday's close of 83.48 places BBY almost squarely in the middle of this range.

Happy trading!

Tom Bowley

Chief Market Strategist

EarningsBeats.com
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