EarningsBeats.com Digest for April 21, 2021
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Join Tom Bowley for a briefing on market activity on Mondays and Wednesdays from 9-9:30 am EST before the opening bell. Click here to listen live or visit our YouTube page later today to view the recorded session.
Upcoming Earnings ChartList
Our ChartLists for this week's upcoming earnings are now available. You can access them by clicking HERE.
Don't Overlook A Stock's Seasonal Pattern
We do a lot of research for our EarningsBeats.com members, including a Seasonal ChartList each calendar month that features 20 of the best performing stocks on the S&P 500 and NASDAQ. The current month was rolling along for many of our April seasonal performers - until the last week or so. One stock, Etsy, Inc. (ETSY) had an unblemished April track record, and ETSY was off to another great start midway through the month. After ending month
with a price of 201.67, ETSY reached a high of 227.00 on April 14th before giving much of it back, closing today at 206.86. Here's what the seasonality chart looks like for ETSY:
April 2021 marks the 7th April since ETSY went public and the stock has finished April higher than it began in all 7 years. If it does finish lower this year, ETSY will need to hold onto a key price support level near 190. The stock has not closed below 190 since early this year, despite having traded beneath the level intraday on three occasions in March. ETSY has traded below 192 on 4 other occasions. History suggests that a breakdown
in April is quite unlikely, especially since quarterly earnings aren't released until May 5th. But, as we know, anything is possible in the stock market.
Happy trading!
Tom Bowley
Chief Market Strategist
EarningsBeats.com
Better Timing. Better Trades.
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