EarningsBeats Digest

Published: Fri, 10/09/20

EarningsBeats.com Digest for October 9, 2020

"The Power of StockCharts Tools with EarningsBeats

Research Engine"

Featuring Earnings Beats.com Chief Market Strategist Tom Bowley and Stockcharts.com Vice President of Operations Grayson Roze

(Saturday, October 10, 11am-12pm EST)

Tom and Grayson will co-host this informative and thought-provoking webinar. There will be a variety of topics discussed to include the new Advanced Charting Platform (ACP) at StockCharts and the new ETF service to be launched at EarningsBeats.com. Tom and Grayson plan to share their 5 best trading ideas for Q4 as well. Also, Tom will plan to discuss EB's various portfolios, ChartLists and scanning strategies and how all of it integrates seamlessly with the StockCharts platform.

As an EarningsBeats Digest subscriber you are invited to attend this event for FREE and room instructions will be sent to you tomorrow morning prior to the start of the event. Hope to see you there!

My Cup Runneth Over With Relative Strength

Specialty retailers ($DJUSRS) have been strong and outperformers throughout 2020. Their relative strength really began to soar in mid-March, in the midst of the pandemic and it's continued ever since. In fact, the group just set a new 52-week relative high as we opened October. One stock in the space seemed to get new life at that March low. After falling from 73.91 on February 20th to 25.63 on March 18th, Williams Sonoma (WSM) came roaring back to life. It has nearly quadrupled from its March low and is threatening a breakout above 100:

WSM now should enjoy price support near 94 and the rising 20 day EMA is at 92.71, so the short-term support zone is fairly clear. WSM doesn't report quarterly results until November 19th, but I wouldn't be at all surprised to see a pre-earnings advance and that would likely start with the breakout above 100. In the meantime, a potential cup has formed as WSM consolidates in very bullish fashion. To confirm the breakout above 100, look for volume to top 2 million shares.

Happy trading!

Tom Bowley

Chief Market Strategist

EarningsBeats.com
Better Timing. Better Trades.