EarningsBeats Digest

Published: Mon, 04/19/21

EarningsBeats.com Digest for April 19, 2021

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Earnings Season Has Begun; Watch For A Big Earnings Beat Here

I believe there's a very strong correlation between strong quarterly earnings and excellent relative strength. As of 3-4 weeks ago, The Travelers Cos. (TRV) was setting a new high before it began a period of consolidation. During these past few weeks, the property & casualty insurance index ($DJUSIP) has broken out to a new all-time high. TRV has begun to strengthen and is approaching another breakout just as it releases its quarterly earnings on Tuesday morning before the opening bell:

I like the PPO just starting to turn higher off of centerline support (blue arrow). The blue circle shows the peer group breaking out above its mid-March high and the thick black directional line is highlighting TRV's relative strength at the time of that last high. Now that its consolidation is in the rear view mirror, I'm expecting an excellent quarterly report, which ultimately leads to another breakout in the stock.

Happy trading!

Tom Bowley

Chief Market Strategist

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