Earnings Season Starts!

What will happen?

The much-awaited earnings season is about to start! The first companies that will deliver their financial results for the second quarter will be Goldman Sachs, JPMorgan Chase, and PepsiCo.

Check economic calendar

Goldman Sachs and JPMorgan Chase are American multinational investment banks. They are going to deliver their Q2 financial results on July 13 at 14:30 and 15:30 GMT+3, respectively. The GS’s forecast is $9.96 earnings per share. The JPM’s forecast is $3.16 earnings per share. Last time, the banks beat the estimates due to the rise in wealth and consumer banking revenues after the Covid-19 crisis. However, this time, the result may be weaker than expected as Wall Street analysts have predicted trading revenue at top US banks slumped by 28%.

If Goldman Sachs reveals better-than-expected EPS, it may break above the psychological mark of $380.00, which will open the doors towards the high of June 4 at $390.00. Support levels are the low of June 8 at $360.00 and the 100-day moving average of $350.00.

JPMorgan is getting closer to the key resistance level at the 50-day moving average of $158.00. If the Q2 earnings are strong, it may jump above $158.00, clearing the way up to the all-time high of $167.00. On the flip side, the drop below the low of July 8 at $150.00 will push the stock down to the next support at $147.00.

PepsiCo, the giant beverage company, will reveal its Q2 earnings on July 13 at 13.00 GMT+3. The market expects the company to deliver earnings of $1.53 per share. Most analysts are optimistic about Pepsi’s earnings. Indeed, the coronavirus-related costs should be reduced due to a successful vaccine rollout in the US, which accounts for roughly 2/3 of total Pepsi’s profits.

If PepsiCo reveals strong financial data, its stock price may jump above the $150.00 psychological mark, which will open the doors to the next round number of $155.00. Support levels are the 50-day moving average of $147.00 and the low of June 24 at $146.00.

Don't know how to trade stocks? Here are some simple steps.

1. First of all, be sure you’ve downloaded FBS Trader app or Metatrader 5. FBS allows you to trade stocks only through this software.
2. Open an account in FBS Trader or the MT5 account in your personal area.
3. Start trading!

TRADE NOW

Author: FBS Analyst Team

Kandungan lain dari pengarang ini

Serupa

18.02.2022 14:35 Minyak mampu capai $100; apakah maksudnya untuk pasaran dan inflasi?

Semakin ramai penganalisis yakin bahawa minyak Brent akan melepasi $100 setong. Jadi sekuat manakah minyak akan menggerakkan pasaran, dan ke manakah arah pergerakan itu? Jom ketahui!

04.02.2021 16:45 GameStop: adakah ini baru satu permulaan?

Tampaknya drama di antara para pengguna Reddit dan firma-firma dana lindung nilai Wall Street telah mereda sejak awal minggu ini.

19.10.2020 11:45 Saham: masa untuk berdagang sempena laporan perolehan

Laporan perolehan akan menunjukkan prestasi syarikat pada suku tahun ketiga.

Berita terkini

27.03.2024 09:47 EMAS Dijangka Akan Mendaki Sementara, Dijangka Sambung Penerjunan!

Fed mengumumkan pada hari Rabu bahawa ia membiarkan kadar dasar tidak berubah pada 5…

27.03.2024 06:40 Yen Tersungkur kepada Paling Rendah Sejak 1990 , Betul Ke Ni?

Jepun melangkah lebih dekat kepada campur tangan mata wang dengan amaran terkuatnya apabila yen merosot ke paras paling lemah dalam kira-kira 34 tahun berbanding dolar…

26.03.2024 06:07 XAU/USD Berundur Selepas Menguji $2,200, Mana Arah Tuju USD?

Sentimen pasaran yang memulih pada pembukaan dagangan awal minggu semalam telah menukar semula haluan pergerakan USD…