It's earning month! So what are some stocks to pay attention to?
What if we can earn some investment from the equity market while playing our part in contributing to conserving our environment? Let's take a look at some potential trading opportunities of renewable stocks that may benefit from earning results as catalyst.
Renewable energy
What about the renewable energy sector? Are there some opportunities in amongst the renewable energy stocks, especially since the earning are announcing soon.
Referring to PBW Clean Energy ETF, early Oct saw a short wave of up trend. I decided to review 3 stocks within this ETF.
Tesla
Probably most famous stock in the ETF, $特斯拉(TSLA)$ will be announcing its earning very soon. From price structure point of view, Tesla has been moving in a large range between 845 and 900. In finer detail, since 19 May, the price has started a slow and steady climb up. It was definitely not a smooth ride up, with many small pull backs along the way.
The earning on 26 July despite better than expected, only moved the price by 5%. What to expect in the upcoming earning result?
Well, the price movement is different from last quarter, less volatility with steady up moves and low volume. It is hinting big whales are slowing accumulating and showing confidence in the stock.
There is a big possibility that Tesla price may hit close to all time high around 900 (which is also the resistance), then retrace and re-attempt to break the 900 mark again. The long term picture is still very bullish, and if break 900, there may be a mark up phase for the bull.
Plug Power
$普拉格能源(PLUG)$ specialises in hydrogen fuel cells and other alternative energy solutions. Its share price has taken a plunge since Jan 2021, perhaps after the Biden-clean energy buzz fizzes away. However, since May, the price structure is forming a nice small range between 23 and 35.
Interestingly, recent rally in early Oct comes with much larger volume than usual. It pushes the price close to ceiling of the range. It may still be slightly premature now to know if Plug power can sustain and continue to up trend. But with upcoming earning report as catalyst and the bullish sentiment of energy sector, would expect at least an attempt to break above 35.
LTHM
$Livent Corp.(LTHM)$ is a relatively new player in the lithium battery field. However, it's price structure is suggesting a break out soon. It was moving between 16 and 24 since Jan 2021. Last quarter's earning propelled the price to break out above 24. The $24 mark has since became the resistance turned support point. From early Oct, the price initiated a rally to challenge previous high at $27.
With the upcoming earning result in less than 20 days away, there might be a good chance for LTHM to break $27. Suggest to observe the price movement for next few days.
So, analysis on 3 stocks that could move up with earning result soon. Before closing, a quick look at other energy sector too.
Recently the Energy sector has been very bullish. The XLE has risen 20% since 20 Sept 2021. It was consolidating between $45 and $50. Once it broke $50 mark, the ETF momentum seems unstoppable. Although there's higher volume, the price is showing leadership and strength in upward move.
Crude oil futures started a steep up trend in late August, and is now 25% higher at $82. Since June, natural gas futures enjoyed a climatic run of more than 50%. But these oil and gas sector may tire out soon.
In fact, many parts of the world is being affected by the rising natural gas prices. Europe energy crisis has been hitting news headlines. Even here in Singapore, some electricity retailers had to exit Singapore market.
Lastly, safe trading and hopefully all able to participate in the earning season!
@Tiger Stars @小虎活动 @爱发红包的虎妞 @小虎AV- 老虎财报季
精彩评论