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Ideas for trading US stocks on July 26-30
Information is not investment advice
This week Apple, Microsoft, Google, Facebook, Pfizer, and other large US companies will deliver earnings reports. For traders, it means opportunities to open buy and sell trades, as the prices of these stocks will surely make big moves. Here is the earnings schedule for companies that we will discuss in this article.
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23:30 GMT+3 July 27
midnight from July 27 to July 28 (GMT+3)
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17:30 GMT+3 July 28
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Amazon is a US tech giant company, involved in e-commerce, cloud computing, digital streaming, and artificial intelligence. This earnings release will show the results for the second quarter of 2021 – the last quarter under which Jeff Bezos was CEO.
Investors are quite optimistic over Amazon's report, that’s why its stock price is likely to go up before the release itself. However, the e-commerce giant is facing a tough year-over-year revenue comparison. In 2020, it gained from the long lockdowns as demand for online shopping surged and its stock price skyrocketed. In late 2020 and 2021, the stock has been trading sideways as social-distancing restrictions were eased. Finally, it has escaped the horizontal corridor between $2900 and $3500 and surged to $3800. If it breaks this level, it will rally up to the psychological mark of $4000.
Google and Facebook
Investors expect Facebook and Google to deliver a year-over-year increase in earnings when the companies report results for the quarter ended June 2021. Why? The main source of revenue for both Google and Facebook is advertising. Since the economy is reopening, businesses are recovering and more willing to spend their capital on ads. Thus, investors expect strong results from these companies, that’s why their stock prices may rally up before the releases.
On Google’s chart, you can see the stock’s amazing performance. It’s getting closer to the psychological mark of $2800. It may struggle to break it, but if it manages to jump above it, the rally up to $2900 will continue. The RSI indicator is above 70.00, signaling the stock is overbought, but if Google reports strong results, the price may rise further even despite the fact that the RSI is above 70.00. Support levels are July 19’s low at $2585 and the 50-day moving average of $2500.
iPhone 12 sales have been very good. The series has been the most successful launch of an Apple lineup since the iPhone 6 in 2014! Therefore, investors expect Apple to reveal better-than-expected earnings results this quarter. Analysts at JPMorgan expect Apple’s stock to rise to $170. Perhaps, $170 is a long shot, the stock should break $160 at first. Apart from earnings, the launch of the iPhone 13, expected to be unveiled in September, might push the stock up as well.
Apple is moving inside the ascending channel. When it crosses the psychological level of $150.00, it will rocket to the next round number of $155.00. Support levels are the recent low of $142.00 and the 100-day moving average of $130.00.
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On Wednesday, September 22, Microsoft will be holding a product launch. The event starts at 18:00 GTM + 3.
The United States Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on August 5, 15:30 GMT+3.
The Bank of England (BoE) will share its Official Bank Rate and make a statement on monetary policy on August 4, 14:00 GMT+3.
The Reserve Bank of Australia (RBA) will release its interest rates and make a statement on August 2, 7:30 GMT+3.