Stocks tend to run up ahead of earnings.
If you’re anything like me and have been trading the stock market for a while, then you already know why this is important because it can make a significant difference in how the market reacts to the numbers.
Stocks usually target the numbers anticipated by analysts. That means you’ll see them trade either up or down starting the week of earnings… I’m talking 24 to 48 hours before.
So it’s a good time to start looking at the biggest stocks reporting earnings this week.
I wanted to give you a heads up on the five biggest names on deck to report earnings this week because they’re extremely influential and have the power to drive the rest of the market up or down.
While the five biggest stocks reporting earnings are spread out among different industries, I still wanted to give you a technical idea of where each one could go, along with some support and resistance levels so you know what we’re up against.
The first big stock reporting earnings is Johnson & Johnson (NYSE: JNJ).
Unless you’ve been living under a rock lately, you should already know something about JNJ. They came out with what some people are calling the “one and done vaccine” because seven out of more than 7 million people experienced rare blood clots in the brain.
But the thing you have to remember is this…
JNJ is a conglomerate — they produce and make money from many different products. So if you look at the amount of JNJ’s market cap this vaccine is impacting, I’m willing to bet it’s less than 15%.
In one aspect, that’s amazing because it means the company is diversified. However, it’s also bad because it takes a lot of different things to drive this stock.
It’s a natural hedge, and something I wish someone explained to me a long time ago.
But that’s just a little bit about why JNJ has been in the news lately. If you’d like to learn more about if/where the stock could run up to and the other four biggest stocks reporting earnings this week, check out my short video below.
And don’t forget to subscribe to our YouTube channel if you haven’t already so you can be notified as soon as we post our next video!
P.S. Future of Wealth Head Trader Lance Ippolito just told me something crazy, folks…
He says he owes all of his success to an unusual stock market phenomenon he’s calling a “Breakout Date.”
It’s an explosive date that’s tied to only 19% of publicly traded companies…
And while the dates don’t have anything to do with earnings, Lance says they’ve been responsible for steady gains like 143% on AUPH in 10 days… 175% on BHC in eight days… and even 210% on CRMD in 20 days.
So Lance decided on a quick training event to show everyday folks how they can spot these explosive dates for themselves…