On Tuesday, Ingersoll Rand (IR) is awaited to post 1Q EPS of $0.27 vs. $0.38 the prior year on revenue of $1.3B compared to $620.3M last year. The Co manufactures industrial equipment and its current analyst consensus rating is 7 buys, 8 holds and 0 sells, according to Bloomberg. Technically speaking, the RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day MA (respectively at $27.27 and $25.69). We are looking at the final target of $33.00 with a stop-loss set at $25.60.
On Wednesday, Cisco Systems (CSCO) is anticipated to release 3Q EPS of $0.71 vs. $0.78 the prior year on revenue of $11.9B compared to $13.0B last year. The Co is a leading global supplier of network hardware and software. On May 4th, T-Mobile (TMUS), a wireless network operator, announced the world's first standalone architecture (SA) 5G, created with the help of the Co, as well as Ericsson, MediaTek, Nokia, OnePlus and Qualcomm. From a chartist's point of view, the RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The stock could retrace in the short term. Moreover, the stock is trading under its 20 day MA ($41.86) but above its 50 day MA ($39.91). We are looking at the final target of $47.50 with a stop-loss set at $38.80.
On Thursday, Applied Materials (AMAT) is expected to announce 2Q EPS of $0.93 vs. $0.70 the prior year on revenue of $4.1B compared to $3.5B in the year before. The Co is a global leader in materials engineering solutions for the semiconductor industry and its current analyst consensus rating is 23 buys, 5 holds and 0 sells, according to Bloomberg. 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 above its 20 and 50 day MA (respectively at $50.60 and $49.47). We are looking at the final target of $64.20 with a stop-loss set at $45.60.
On Friday, V.F. (VFC) is likely to unveil 4Q EPS of $0.19 vs. $0.60 the prior year on revenue of $2.4B compared to $3.2B last year. The Co manufacturers and markets outdoor apparel, and on April 16th, the Co announced that it would be working with its subsidiary, Dickies, a global workwear brand to produce 3.4 million isolation gowns to support the COVID-19 response. Looking at a daily chart, the RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the share stands below its 20 and 50 day MA (respectively at $56.29 and $60.58). We are looking at the final target of $73.60 with a stop-loss set at $47.80.
Looking at the S&P 500 CFD, the index is currently holding its bullish trajectory above its support level at 2725. Price is expected to retest resistance at 2973. If price can breakout of the 2973 resistance level, we will most likely see further advance towards 3129. A break below 2725 support could pressure the index back down towards 2538 support.
Source: GAIN Capital, TradingView
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.