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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Post-earnings trade setups: Redrow, FedEx, and Galliford Try

With Q2 earnings season slowing down, Redrow, FedEx, and Galliford Try provide us with the interesting trading opportunities.

Source: Bloomberg

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.

Redrow

Redrow PLC shares have plunged over the latter part of the week, with the stock tumbling into afresh four-month low. The daily timeframe highlights that recent decline, with the inability to break into a higher high ultimately giving way to this latest breakdown. With that in mind, there is a strong chance we will see further downside from here, with the intraday trend of lower highs and lower lows signaling further downside to come. This bearish outlook remains in play unless we see a break through the £4.74 mark.

Source: ProRealTime

FedEx

FedEx Corphas enjoyed an incredible post-March recovery, with the stock reaching record highs on a weekly basis. The recent pullback appears to have provided us with another possible buying opportunity as price falls back towards trendline support. With a clear uptrend in play, there is plenty of reason to expect further upside, with a bullish trend in play unless we see a break below the $217.55 swing-low.

Source: ProRealTime

Galliford Try

Galliford Try PLC has enjoyed a sharp rebound this week, despite the clear-cut downtrend seen over the course of 2020 thus far. However, we are already seeing the bears come back into play once more, with the rebound falling short at the 76.4% Fibonacci resistance level. With that in mind, further downside looks likely, with another leg lower expected in the absence of a full bullish breakout. As such, further downside is expected, wheRe a break through £1.04 would bring an end to that bearish downtrend.

Source: ProRealTime

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This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.