Reporting before the open on Wednesday, Constellation Brands (STZ) ($36.75) is expected to earn 55 cents per share. Constellation Brands set an all-time high at $37.57 last week so this earnings bar could not be any higher. The daily chart is positive, but the weekly chart is neutral as momentum is declining despite a weekly close solidly above the five-week MMA at $35.34. My annual value level lags at $30.65 with a weekly pivot at $34.37 and monthly risky level at $41.03.
Reporting after the close on Wednesday, Texas Industries (TXI) ($55.60) is expected to report a loss of 34 cents per share. TXI set a multi-year high at $56.10 last week raising this earnings bar. Both the daily and weekly charts are overbought with the stock above the five-week MMA at $48.86. My monthly value level is $51.71 with my annual risky level at $61.58.
Reporting before the open on Friday, Wells Fargo (WFC) ($34.94) is expected to earn 89 cents per share. WFC is trending below its multi-year high at $36.60 set on Sept. 14 and is trending above its Nov. 14 low at $31.25. Both the daily and weekly charts are positive with the stock above the five-week MMA at $33.88. My annual value level is $32.82 with an annual pivot at $34.17 and quarterly risky level at $36.83.
At the time of publication the author held no positions in any of the stocks mentioned.Follow @Suttmeier This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.
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