Earnings Play Campbell Soup

Earnings Play: Campbell Soup

On Wednesday, before market, Campbell Soup (CPB) is expected to report first quarter EPS of $0.78, in line with last year on revenue of approximately $2.3 billion vs. $2.2 billion a year earlier. The company manufactures branded food products and on December 1st, GENYOUth and Campbell's Chuncky announced the Chuncky Million Meals Challenge Madden NFL 21 tournament, which will be played in EA Sports Madden NFL 21 and provide 100 million meals to school-aged children during the Covid-19 pandemic.

Technically speaking, on a daily chart, Campbell's stock price is currently falling within an intermediate-term bullish channel that began to form in early-September. The RSI is below 50 and headed downward. The simple moving averages are arranged in a mixed manner, the 20-day is above the 50-day SMA and the 20-day is just below the 200-day SMA, which is moving sideways. Price will likely fall towards the lower trendline of channel as a result of price breaking below a short-term support zone (purple rectangle). If price can halt at the lower trendline or possibly the 47.00 support level, then traders should look for consolidation followed by a rally back towards 50.75. If price gets above 50.75 and the upper trendline then 52.50 would be the next target. On the other hand, if price fails to be supported at the lower trendline and slips past 45.50, then price could tumble further.

Source: GAIN Capital, TradingView

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.

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 CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFD and Forex Trading are leveraged products and your capital is at risk. They may not be suitable for everyone. Please ensure you fully understand the risks involved by reading our full risk warning.

City Index is a trading name of StoneX Financial Ltd. Head and Registered Office: 1st Floor, Moor House, 120 London Wall, London, EC2Y 5ET. StoneX Financial Ltd is a company registered in England and Wales, number: 05616586. Authorised and regulated by the Financial Conduct Authority. FCA Register Number: 446717.

City Index is a trademark of StoneX Financial Ltd.

The information on this website is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement.