Did You Capitalize On This Earnings Call?
by Mike Paulenoff
July 25, 2020 • 12:48 PM EDT
In his Trading Room this week, Mike Paulenoff alerted members to the budding bullish technical potential of Edwards Lifesciences (EW), which was trading at 74.11 at the time of his alert on Monday July 20.
He noted a very positive technical set-up challenging an 8-month resistance line that cut across the price axis at 76.10. He also noted a potential catalyst in the company's upcoming Thursday July 23 earnings release, writing: "If the current chart set up is whispering to us about a directional outcome ahead of or in reaction to earnings, the message is HIGHER."
By Wednesday, EW had thrust above the resistance line to a multi-month high at 78.56, and on Friday it got to as high as 80.50 (+8.6% above its price at Mike's Monday alert) in reaction to an earnings beat on EPS, in-line Revenues, and raised EPS guidance for Fiscal Year 2020.
Where is EW headed next?
Join Our Live Trading Room and find out!
Mike Paulenoff is the author of MPTrader.com, a real-time diary of his technical analysis & trade alerts on
ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international
markets, plus key ETF component stocks in sectors like technology, mining, and banking.
Sign up for a Free 7-day Trial!
More Top Calls From Mike
On March 11, with AAPL in a month-long down-leg and trading at 156.34, Mike Paulenoff posted a relatively bullish analysis for MPTrader members, writing:
"I am watching AAPL more closely than usual these days, as a bellwether for the health/vulnerability of the overall market.
Back on March 1, 2022, Mike Paulenoff posted a technical "heads-up" about JPM for members of MPTrader.com, writing:
"JPM has broken down in glaring fashion from a 12-month Top Formation that my pattern work addressed four weeks ago in case JPM sustained beneath 139-140. Today's low at 134.15 violated my shallowest target zone of 135.50-137.50, and points next to 128-130, with an outlier target zone in the vicinity of 115.
Last Monday morning, May 2, as the equity market careened to the downside ahead of Wednesday's FOMC meeting and the prospect of the biggest rate hike in decades (50 bps), Mike Paulenoff alerted MPTrader members to a potentially significant developing technical setup in AMZN, which had hit a new 13-month low.
Mike wrote: "AMZN pressed to a new corrective low at 2367.50 this AM, a full 37% beneath its ATH.
On Thursday, April 14, Mike Paulenoff cautioned MPTader members about possible near-term upside exhaustion in YIELD and downside exhaustion in longer-term bond prices (and the TLT), writing:
"10 Year YIELD spiked to a new multi-year high at 2.84% today, but Daily Momentum remains well below yesterday's Momentum high, which is our first indication that perhaps the vertical assault in benchmark YIELD is nearing upside exhaustion.
JPM (JP Morgan) reports quarterly earnings this coming Wednesday during pre-market hours. Investor reaction to this particular report is positioned to have a significant influence on the price of the stock. JPM's outspoken and high profile CEO Jamie Dimon already has warned us that changing (i.e.
