AET- Aetna close up 3.24% today after a solid earnings report. The stock has broken out above the 110 level after basing for around a month. AET has been trending nicely therefore I expect this breakout from consolidation to be a resumption of the trend in place. The MACD indicator is curling upwards above the 0 line, it has not yet crossed over but looks like it will do so soon. I am looking for the 115 level shortly representing a roughly 4-5% gain in the near term.
ABT nice post earnings b/o at all time highs on higher than average volume with a strong close just below HOD. 50 SMA below, MACD also curling up above zero line. Very strong weekly trend. Nothing but air above but will likely find resistance at $50 in the near term. Will be looking at May or June calls most likely the 50 strike.
CDW corp looking for a breakout from an ascending triangle. I like the way this is setup however I would like to see it confirm with a close above 38.50. The MACD looks to be curling up and RSI is making higher lows. After a confirming close above 38.50 I could see the stock pressing up into the low 40’s in the near term. A rally in the S&P’s and DJIA could give CDW the push it needs to break out.
Boston Scientific Corp. broke out today on heavy volume from a nice month long consolidation. BSX has been trending nicely in 2015 the stock is up roughly 35% YTD. I expect to see more upside performance over the next couple of weeks. The company has had steady earnings growth over the past several years. This fundamental strength coupled with a technical break out leads me to believe the stock will continue to perform well in the near term.
This is not intended as advice nor will I be held responsible for any losses that you may incur following my ideas. These are simply my personal thoughts regarding the company and I am in no way affiliated with the company mentioned.
Typically, I don’t like to play earnings because the risk is too high for my liking. Honestly, how many times have we seen a company come out with killer earnings only to have the stock get completely crushed after the announcement. IBM has caught my eye as it has been in a downtrend for some time but seems to have found a bottom in the near term. I see an inverse head and shoulders setup and an ascending triangle. I am looking for a breakout above $165 post earnings regardless of whether IBM beats or not. I think a strong push above $165 could start a nice rally up to resistance at $180. There is significant risk here ahead of earnings as most analysts have guided for a move lower in the longer term which very well may be in the cards. Resistance at $165 has been very strong so if it breaks the stock will likely experience an explosive move upwards.
Chart updated 4/29
This is not intended as advice nor will I be held responsible for any losses that you may incur following my ideas. These are simply my personal thoughts regarding the company and I am in no way affiliated with the company mentioned. I am long May expiry 175 Calls.