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Post-earnings trade setups: easyJet, Halfords, NVIDIA

With Q3 earnings season slowing down, easyJet, Halfords, NVIDIA 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.

easyJet

Shares in easyJet PLC have enjoyed a welcome boost in a fortnight that has seen positive announcements from Pfizer, Moderna, and AstraZeneca drive a resurgence in transport stocks. That rebound has hit the buffers over recent days, with price falling back towards Fibonacci support. That key here is whether we break below the £6.82 support or not. A drop below that level would point towards a potential wider retracement coming into play. Until then, this recent pullback looks like a buying opportunity within a market that is in recovery-mode.

Halfords

Shares in Halfords Group PLC has hit a two-year high this week, with the pandemic clearly benefitting the firm as demand for products such as bicycles soar. The gains seen over the course of the week has helped drive price up through the key £2.49 resistance level. With that in mind, further gains look likely, with a break below the £2.18 support level required to negate this trend.

NVIDIA

NVIDIA Corp shares have been consolidating over much of the week, with the stock seemingly preparing for another leg higher within a distinct uptrend that has played out over the course of the year. The decline into 76.4% Fibonacci support at the beginning of the month points towards a likely push higher before long. As such, further upside looks likely unless we see a break below the $492.06 support level.

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