We have important earnings reports to watch this week in both the retail and semiconductor spaces. I’m talking about Micron and Lululemon…
While these companies are very different from each other, they can both give traders and investors some much needed clues in terms of where these sectors are headed in the near term.
And because the U.S. economy is on the verge of reopening and a third round of stimulus checks are being sent out, it’s more important than ever to determine how these two corporate giants fare at this junction.
So let’s start with Lululemon Athletica Inc. (Nasdaq: LULU) since it’s the first earnings report to watch this week.
For those of you who don’t know, LULU is an athletic apparel brand that makes clothes for yoga, running and just about any other sweaty activity you can think of.
It’s scheduled to report earnings Tuesday after the closing bell. Analysts expect a revenue of $1.66 billion and earnings per share of $2.48.
But if you look at the stock’s technicals, LULU is trading below its 50-day moving average.
I strongly urge anyone to wait until it’s trading above the 50-day line before jumping feet first into the stock. I say this because once the stock picks up momentum, the odds are strong that it’ll take out September’s previous high, roughly about $400 per share.
So I’d keep an eye on the $325 level because that’s where the 50-day moving average sits. I anticipate the stock will rally. And once it hits the $399 level, to back away and then start running even higher.
But LULU isn’t the only earnings report to watch this week…
I’ve been talking about Micron Technology Inc. (Nasdaq: MU) a lot lately, and it’s expected to report earnings after Wednesday’s close. So check out my short video below to learn more about these companies and why they’re the earnings reports to watch this week
And as always, don’t forget to subscribe to my YouTube channel if you haven’t already so you can be notified as soon as I post my next video!
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