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Stocks jumped on better-than-expected earnings reports
The start of the US trading session has been positive for traders of Tesla and Microsoft. The financial data of companies bit estimates.
The adjusted earnings per share of Tesla came out at $1.86 vs. $-0.15 expected. The stock of a company gapped up towards the $304.93 level but then fell immediately towards $290.1. The next support lies at $281.6. The retest of the 304.93 level will increase the chance of a breakout of this level and reaching the next resistance at $312.8.
The EPS of Microsoft reached $1.38 (versus $1.25 expected). Plus, the report showed a larger-than-expected revenue ($33.06 vs. $32.23). The price of stocks tested the $140.11 level. The next resistance will lie at $141.62. From the downside, the support levels lie at $136.55 and $134.5.
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