Apple, Amazon Face Tougher Scrutiny Reporting Earnings
NEW YORK (TheStreet) -- Important earnings reports continue and today I profile four more Dow components, two more tech bellwethers and a high-flying retailer. Investors and traders should continue to focus on the revenue line and forward guidance.
With Apple (AAPL) and Amazon (AMZN) reporting after the close on Thursday, my focus is on the Nasdaq following the drubbing it received last week.
The weekly chart for the Nasdaq shifted to negative with Friday's close below its five-week modified moving average at 3072.94 with the 12x3x3 weekly slow stochastic reading declining below 80.00 to 77.78. The downside risk is to the November 2011 high at 2861.51. My annual value level is 2698 with weekly, monthly, annual and quarterly risky levels at 3125, 3210, 3232 and 3295.
The daily chart for the Nasdaq shows the damage caused by Google (GOOG) on Thursday and Friday. Last week's high 3112.45 was set on Wednesday, and was just shy of the 21-day simple moving average at 3114.77.
On Thursday the Nasdaq fell below its 50-day SMA at 3096.76, which indicates risk to the 200-day SMA at 2969.94. My annual value level is 2698 with weekly, monthly, annual and quarterly risky levels at 3125, 3210, 3232 and 3295.
Chart Courtesy of Thomson/Reuters
At www.ValuEngine.com we show that 56.5% of all stocks are undervalued with 43.5% overvalued with 12 of 16 sectors overvalued. The five most overvalued are; construction by 16.4%, medical by 13.0%, consumer staples by 12.4%, retail-wholesale by 12.0%, finance by 11.7% and utilities by 11.5%.
Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
Jim Cramer's protege, 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
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
