Post-earnings trade setups: Crest Nicholson, Microsoft, and Apple
With Q4 earnings season underway, Crest Nicholson, Microsoft, and Apple provide us with the interesting trading opportunities.
This article looks at some of the big movers off the back of recent earnings announcements to try and find stocks that seem to provide a good trading opportunity. Typically, earnings announcements and trading statements will drive a shift or enhancement of market sentiment. While many see earnings as a significant risk when holding a stock, placing trades in the wake of such events allows for greater confidence that all market knowledge has been factored into current prices.
Crest Nicholson
The Crest Nicholson recovery has slowed somewhat over the past month, with the September-December rally giving way to a period of consolidation for the housebuilder. With the stock turning lower at the end of the week, the recent trend points towards a potential rebound from trendline support before long. As such, this current move lower looks like a potential buying opportunity, with a bullish view in play unless we see price break below the £2.99 swing-low.
Microsoft
Microsoft shares managed to break through key resistance at the start of the week, with the rise above $228.22 bringing an end to the multi-month consolidation phase seen since August. With that, we are likely to see further gains for this tech giant, and the retracement back into $228.22 highlights how it is now providing support for another leg higher. With that in mind, further upside looks likely unless price breaks back below the $212.06 swing-low.
Apple
Apple has been on the back foot following Wednesday’s earnings release, with the stock falling back towards the deeper retracement levels. Those levels are going to be key here, with the 61.8% and 76.4% Fibonacci retracements bringing a potential area for bulls to get back into play. After all, this uptrend has been remarkably consistent in nature. With that in mind, a bullish view holds here, with a break through the $126.91 level required to negate that view.
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