Earnings Play: Campbell Soup

How to play Campbell Soup's earnings

Charts (1)

On Wednesday, before market, Campbell Soup (CPB) is anticipated to announce 3Q EPS of $0.76 compared to $0.56 a year ago on revenue of approximately $2.2B vs. $2.4B last year. The company manufactures branded food products and its current analyst consensus rating is 3 buys, 11 holds and 4 sells, according to Bloomberg.    

From a chartist's point of view, Campbell Soup's stock price appears to be in a short-term cup and handle pattern that began to form in mid-May.  Price may retrace down to the  $49.00 support level before rebounding towards the $52.50 resistance level. If price can break through the $52.50 level we may see a continuation towards $54.00 and possibly the $57.00 level. If price can not hold above the $49.00 support level we might see a decline to $47.00.            

Source: GAIN Capital, TradingView

More from Earnings

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (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.