EarningsBeats.com Digest

Published: Mon, 04/26/21

EarningsBeats.com Digest for April 26, 2021

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(Featuring EarningsBeats.com's Chief Market Strategist, Tom Bowley)

"Q1 Earnings Season"

Today, April 26th, 2021 at 4:30pm EST

Earnings season has kicked into high gear and high reward-to-risk trading opportunities are endless! Join Tom Bowley, EarningsBeats.com's Chief Market Strategist, as he points out the best quarterly earnings reports to date and then uses both absolute and relative indications to uncover those companies most likely to report blowout results throughout the balance of earnings season that could produce outsized rewards. This is a VERY popular quarterly event that you don't want to miss!

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Big Earnings Reports Due After the Close Today

I know most eyes will be on Tesla (TSLA) as they'll be reporting their latest quarterly results after Monday's close. Technically, the stock is in the middle of a trading range, so it's difficult to say where it trades, though I do believe it'll be a better-than-expected report. My bigger focus, however, will be on a number of semiconductor companies. This entire industry has been on fire since the March 2020 low. ASML Holding (ASML) broke out to fresh new highs after posting EPS of $3.86 (vs. $3.08 estimate) last Wednesday. So what will the next batch of semiconductor companies do for an encore? We'll find out with NXPI, MKSI, and AMKR. The largest of these 3 - NXPI - looks solid heading into earnings:

Price and trendline support both intersect near 183, so that's clearly a level to watch to the downside post-earnings. Resistance has been drawn at the recent price high close to 215. I'd consider the range to be 183-215. Friday's close of 201 is almost squarely in the middle of the range. The bottom two panels are quite telling. While semiconductors are showing a bit of wear and tear, downtrending vs. the S&P 500, NXPI has managed to rise vs. that benchmark on a relative basis. There's a better than average chance that we're going to see a very strong report from NXPI. But will it be enough to create a breakout? Stay tuned.....

Happy trading!

Tom Bowley

Chief Market Strategist

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