EarningsBeats.com Digest for March 29, 2021
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Upcoming Earnings ChartList
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It's Webinar Day!
"Changing of the Guard"
Today, March 29, 4:30 PM EST
The market continues to struggle as traders try to determine the best ways to deploy their capital. Join Tom Bowley, EarningsBeats.com's Chief Market Strategist, later today as he analyzes the changes in rotation among sectors and industry groups and provides his thoughts on future leadership in 2021.
This timely webinar will focus on relative strength, strong earnings, and sectors, industry groups, and individual stocks poised to benefit from an exceptionally powerful GDP.
This is a Members Only event including those who are on trial membership. To save a seat and sign up for a NO COST 30-day trial membership, click on the link below. You DON'T want to miss this one!
One of the Most Reliable Companies for A Pre-Earnings Advance
There aren't too many companies that investors get more excited about with upcoming earnings than Tesla, Inc. (TSLA) - at least over the past 5 quarters. I wrote an article in the ChartWatchers newsletter at StockCharts.com over the weekend and identified Shopify, Inc. (SHOP) as a company that's enjoyed several big pre-earnings advances since the beginning of 2020. While SHOP has averaged gaining 45.74% leading up to its 5 prior quarterly earnings
releases, TSLA has done even better. It's gained an average of 47.60% and this is over just a 4 week period:
The blue arrows mark the low just prior to the pre-earnings advance, while the red arrow approximates the time when earnings were released. If you study the chart, you'll see a reliable pattern that's taken place since 2020 began. It's impossible to determine if that continues with the upcoming quarterly earnings, which will be released on
April 27th, but we're now 4 weeks away from that report. Again, maybe this time is different. But it probably makes sense to at least be aware of this pattern, especially if you see TSLA break back above its declining 20-day EMA. That was the first big clue in early April one year ago.
Happy trading!
Tom Bowley
Chief Market Strategist
EarningsBeats.com
Better Timing. Better Trades.
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