Post-earnings trade setups: Nike, Go-Ahead Group and Carnival
With Q2 earnings season slowing down, Nike, Go-Ahead Group and Carnival 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.
Nike
NIKE shares have pulled back since Tuesdays surge, with the wider market decline bringing a similar move lower for the stock. Nevertheless, the uptrend seen since the March lows remains in play unless the stock drops below the $111.74 low seen on Monday. With that in mind, this pullback provides a potential buying opportunity, where an exit of this trend of lower lows is required to negate that bullish view.
Go-Ahead Group
Go-Ahead Group have suffered substantial losses over the course of the past five-months, with Mondays decline seeing the stock hit the lowest level since March. While the stock has regained ground since, we are seeing another move lower in what looks like a continuation of the wider downtrend. A break back up through the £7.43 peak seen earlier in the month would negate this bearish outlook. Until then, this downtrend looks likely to persist as we move closer to another UK lockdown.
Carnival
Carnival has been largely consolidating over the past five-months, with price coming back towards the £7.83 support level once more over the course of the week. This could provide a potential rebound if the range is to continue. However, with questions arising over the potential for a second lockdown, a breakdown below the £7.62-7.83 zone could be the spark to bring another wider decline into the 2020 lows. With that in mind, the forthcoming week could be critical in discerning the direction of the stock after a difficult two-week period.
Act on share opportunities today
Go long or short on thousands of international stocks with spread bets and CFDs.
- Get full exposure for a comparatively small deposit
- Trade on spreads from just 0.1%
- Get greater order book visibility with direct market access
See opportunity on a stock?
Try a risk-free trade in your demo account, and see whether you’re on to something.
- Log in to your demo
- Take your position
- See whether your hunch pays off
See opportunity on a stock?
Don’t miss your chance – upgrade to a live account to take advantage.
- Trade a huge range of popular stocks
- Analyse and deal seamlessly on fast, intuitive charts
- See and react to breaking news in-platform
See opportunity on a stock?
Don’t miss your chance. Log in to take advantage while conditions prevail.
Related articles
Live prices on most popular markets
- Equities
- Indices
- Forex
- Commodities
Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.