This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

5 Stocks Set to Soar on Bullish Earnings

Essex Property Trust

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

An earnings short-squeeze idea in the real estate complex is Essex Property Trust (ESS - Get Report), which is set to release numbers on Thursday after the market close. This real estate investment trust engages in the ownership, operation, management, acquisition, development, and redevelopment of apartment communities primarily in the West Coast of the U.S. Wall Street analysts, on average, expect Essex Property Trust to report revenue of $122.30 million on earnings of $1.52 per share.

If you're looking for a stock that's trending very strong heading into the quarter, then take a look at shares of Essex Property Trust. This stock is currently trading just 7 points off its 52-week high of $148.44 a share, with the stock changing hands at around $141.

The current short interest as a percentage of the float for Essex Property Trust stands at 6.9%. That means that out of the 33.61 million shares in the tradable float 2.3 million are sold short by the bears. This isn't a huge short interest, but its more than enough to spark a big short-squeeze.

From a technical standpoint, ESS is currently trading above both its 50-day and 200-day moving averages, which is bullish. This stock recently hit a near-term low of $120.58 a share and has since then trended higher and is now approaching a big breakout trade.

If you're bullish on ESS, I would wait until after it reports earnings and buy some shares if the stock breaks out above $145.55 with high volume. Look for volume that's tracking in close to or above its three-month average action of 341,884 shares. If we get that action, I would then add to any long positions once ESS takes out its 52-week high of $148.44 with volume.

I would avoid ESS altogether or get short if after its report the stock drops below some near-term support at $137.06 with volume. I would then add to any short positions if ESS takes out $130 with volume. Target a drop back toward $127.50 to $120.50 a share if the bears hammer this name post-earnings.

One big bet on Essex in the most recently reported quarter comes from Ken Heebner's Capital Growth Management, which maintained a 695,000-share position in the stock.
5 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
DRWI $4.58 0.44%
ESS $231.89 1.30%
LEN $43.85 -0.36%
SNX $78.66 0.64%
SVU $4.70 1.80%


Chart of I:DJI
DOW 17,741.66 +80.95 0.46%
S&P 500 2,055.63 +5.00 0.24%
NASDAQ 4,726.64 +9.5460 0.20%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs