The following are the notable earnings for this week:
M – earnings report will be released on May 21, before market. Closed at 19.49 last May 17. Last earnings, Macy is closing some of its non profitable locations and I think this will improve their operational cost. I will be checking 22c and 24c
LOW – earnings report will be released on May 21, before market. Closed at 231.11 last May 17. I am bearish on this one. Not a lot of homeowners are doing major home improvement due to the rising cost of basic needs. I will be checking 225p/ 220p
TGT – earnings report will be released on May 22, before market. Closed at 160.13 last May 17. One of its biggest competitor is WMT. They are also lowering their prices which means lower gross sales. I will be checking 150p/ 145p
ELF – earnings report will be released on May 22, after market. Closed at 158.45 last May 17. Technically, Id like to see this stock test the 200 EMA which is at 145 level. I will be looking at 145p 140p. I like this stock fundamentally, I bought this when the price per share was at around 16. Unfortunately I sold it way too early.
NVDA- earnings report will be released on May 22, after market. Closed at 924.79 last May 17. One of the most anticipated earnings as this will for sure set tone to the market sentiment, Premiums will be off the roof so watch out. I’d like to see this stock breakout at 975 heading to 1000. There’s a lot of competition coming out now and their forward guidance is really an important one. I am going to check 1000c 1050c.
Other related play:
AMD – I am bullish on this stock even from the previous earning play, AI sentiment still there, I will check 170c 175c and 180c. AMD closed last Friday at 164.47.
TSLA – a lot of cost cutting going on so watch out for some strong upside trend. I’d like to see this at 180 185 level. TSLA closed last Friday at 177.46.
Nothing is guaranteed here. Stocks mentioned above could trade sideways depending on the earnings outcome.