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Netflix Zooms Past Tesla

NEW YORK (TheStreet) -- The eight momentum stocks I track can swing a lot on earnings reports.

Consider that when I wrote Netflix Lags as Tesla Leads Momentum Race, Tesla (TSLA - Get Report) was leading the 2014 momentum race with a year-to-date gain of 9.1% and Netflix(NFLX - Get Report) was in last place, down 10.3%. Since Jan. 15, Tesla -- which reported on Jan. 22 --- is up 13.6%, while Netflix -- which will report on Feb. 19 -- has surged 30.1% to move into first place in year-to-date price gains among the eight momentum stocks.

Analysts expect Tesla to report earnings per share of 4 cents. We will then see if the stock can retake the lead in the momentum race.

Netflix beat analysts' estimates by 14 cents, earning 79 cents a share in the quarter ended in December. Netflix shares gapped higher the next day and have yet to look in the rearview mirror as the stock reached another all-time intraday high at $430.50 on Friday.

Must Read: 3 Reasons RadioShack Is a Value Trap

Here are my buy-and-trade profiles for my eight momentum stocks:

Apple (AAPL) ($519.68 vs. $557.36 on Jan. 15, down 6.8%) reported its quarterly results on Jan. 27, and beat EPS estimates by 46 cents, earning $14.50 a share.

There was a negative reaction to some of the details presented in the earnings report, and the stock gapped lower on Jan. 28. It traded as low as $493.55 on Jan. 31, but stayed above its 200-day simple moving average at $487.19. The weekly chart is negative with Apple's five-week modified moving average at $530.16 and the 200-week SMA at $434.68.

Apple has recently been downgraded to hold from buy by and is 6.2% overvalued with a gain of 11% over the last 12 months. My weekly value level is $514.40 with an annual pivot at $517.05 and monthly and annual risky levels at $540.05 and $586.06. Above are my new semiannual risky levels at $657.40 and $666.94.

Amazon (AMZN) ($361.08 vs. $395.87 on Jan. 15, down 8.8%) reported its quarterly results on Jan. 30 and missed EPS estimates by 20 cents, earning 51 cents a share.

The stock gapped lower on Jan. 31, and traded as low as $337.73 last Wednesday, staying above its 200-day SMA at $322.18. The weekly chart is negative with its five-week MMA at $377.94 and its 200-week SMA at $225.34.

Amazon's share price weakness resulted in an upgrade to buy from hold with the stock overvalued by 69.6% and with a gain of 38.8% over the last 12 months. The stocks 12-month trailing price-to-earnings ratio remains extremely elevated at 598.5. My annual value levels are $334.95 and $259.67 with semiannual pivots at $351.11 and $359.11 with quarterly and monthly risky levels at $402.56 and $407.77 vs. the all-time intraday high set at $408.06 on Jan. 22.

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