This week is a big one for tech earnings announcements and it could set up some big trades. To trade earnings or not to trade earnings, that is the question. We talked about that a bit last week in an article you can read here. If you are one to trade earnings there are a couple things to keep in mind. APPL is due to announce today and this is one where it may make more sense to com in right after the announcement and grab some of the momentum that creates. Like TSLA last week, AAPL is riding a bit of a rebound. If the market knows what is coming this could be a sign of where the momentum will head.
Although it is having a tough day so far there is no denying that it has been swinging back up in 2023. It is heading toward a key point at its 200 day moving average and the high end of a downward channel it has been in since Sept. Big public companies often have their finger on the pulse of Wall Street and will do all they can to manage the impact, even exploit, of big announcements. The wave of job cuts in this sector is a great example.
Keep an eye on this one. If you are risky but looking for a a bigger pop, signs point to a continued rally. If you want to play it safe, wait a couple more days and grab the tigers tail after it is out of the cage.
Keep learning and trade wisely,
John Boyer
Editor
Market Wealth Daily
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