Key earnings this week as the season quiets down

On Wednesday, Lyft (LYFT) is anticipated to release 2Q LPS of $1.03 vs $a LPS of $0.68 a year ago on revenue of $335M compared to $867M last year. Lyft has an expected move of 14.6%, the last time Lyft reported earnings the stock jumped 21%. Looking at a daily chart, we anticipate a short term rebound towards 36.8. The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the share stands above its 20 day MA (30.06) but below its 50 day MA (32.61).

Additionally on Wednesday, Cisco (CSCO) is expected to announce 4Q EPS of $0.74 compared to $0.83 last year on sales of $12.1B vs $13.4B a year ago. The expected move after earnings is 5.9%. CSCO jumped 4.5% after the last earnings report. From a technical point of view, the RSI is above 50. The MACD is positive and below its signal line. The stock could retrace in the short term. Moreover, the stock is below its 20 day MA (46.46) but above its 50 day MA (46).

On Thursday, Macy's (M) is likely to unveil 2Q LPS of $2.0 vs $0.28 a year ago on revenue of $3.5B compared to $5.5B last year. Macy's was just targeted in one of the first lawsuits against users of the controversial facial-recognition software made by startup clearview AI. A class action lawsuit was filed in Chicago, alleging the company violated the states's Biometric Information Privacy Act by using the software to identify shoppers from security-camera footage. From a chartist's point of view, the RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the share stands below its 20 and 50 day MA (respectively at 6.47 and 6.85).

On Thursday, Applied Materials (AMAT) is awaited to post 3Q EPS of $0.94 compared to $0.74 last year on sales of $4.2B vs $3.6B a year ago. The stock has an expected move of 7.7% and dropped 4.4% after the last earnings release. Technically speaking, the stock is trending higher. The RSI is above 50. The MACD is positive and below its signal line. Moreover, the stock is trading above both its 20 and 50 day MA (respectively at 63.34 and 61.08).

Looking at the S&P 500 CFD on a daily chart, The index remains supported by a short term rising trend line and the 20-day moving average. The uptrend remains in play towards key resistance and the record high at $3398. A break below support at 3193 could potentially signal the end of the uptrend.

Source: GAIN Capital, TradingView

Happy Trading

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