Post-earnings trade setups: Old Mutual, Barratt Developments, and Macy’s
With Q2 earnings season slowing down, Old Mutual, Barratt Developments, and Macy’s 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.
Old Mutual
Shares in Old Mutual Ltd has dropped to a four-month low this week, with recent gains failing to establish a higher high and instead confirming the reversal we have seen over recent months. With that in mind, further downside does look likely as we look for an extension to this bearish trend. Rallies are therefore expected to provide selling opportunities, with a break through 59p required to negate that view.
Barratt Developments
Barratt Developments PLC has seen recent rains fail at the £5.53 resistance hurdle once again, with price turning lower to continue the recent consolidation phase. With price heading back towards trendline support, there is a good chance we will see an end to these short-term losses before long. Thus, this consolidation phase looks set to continue, with a break through either £4.94, or £5.53 required to bring about a fresh directional bias.
Macy’s
Macy's Inc shares are on the rise, following on from a decline into the 76.4% Fibonacci support level back in June. The break up through the $7.74 level has provided a fresh bullish outlook, with further gains looking likely as a result. With that in mind, this iconic company looks like it could stage a comeback, with a break back below $5.82 required to bring a more bearish outlook.
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.
