391517 09: Folks stroll previous an indication exterior the JP Morgan Chase headquarters July 5, 2001 on Park … [+]
JP Morgan Chase & Firm is scheduled to report earnings earlier than Friday’s open. The inventory hit a file excessive of $172.96/share in 2021 and is at the moment buying and selling close to $139.49/share. The inventory is liable to large strikes after reporting earnings and might simply hole up if the numbers are sturdy. Conversely, if the numbers disappoint, the inventory can simply hole down. That can assist you put together, here’s what the Road is anticipating:
Earnings Preview:
The company is expected to report a gain of $3.11/share on $34.16 billion in revenue. Meanwhile, the so-called Whisper number is a gain of $3.23/share. The Whisper number is the Street’s unofficial view on earnings.
Charts & Data Courtesy MarketSmith Inc.
A Closer Look At The Fundamentals:
The company’s earnings grew by 11% in the last quarter compared to the same quarter in 2021. That is very encouraging considering the broader economic slowdown that occurred. Earnings are expected to grow in 2023 compared to 2022 which is also a welcomed sign.
A Closer Look At The Technicals:
Technically, the stock is acting well on a relatively basis and has vaulted nearly 40% since the October 2022 low. The bulls are very happy to see the stock -and stay- above its 50 and 200 day moving average lines which are important technical indicators that many institutional investors use to determine the health of the stock. The bulls want to see the stock rally from here and the bears want to see it fall after reporting earnings.
Pay Attention To How The Stock Reacts To The News:
From where I sit, the most important trait I look for during earnings season is how the market and a specific company reacts to the news. Remember, always keep your losses small and never argue with the tape.
Disclosure, the stock has been previously featured in my FindLeadingStocks.com publication.
