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Happy Halloween! 🎃
It’s October 31st, and we’re heading into another week of solid earnings — with the biggest wave of October reports now behind us.
In today’s video, I’m looking at S&P 500 companies set to report Monday, November 3rd and see which beaten-down stocks might be setting up as future opportunities.
Highlights
1️⃣ Lowe’s (LOW): Ready to Resume Higher After Cooling Off
This stock has been working off overbought conditions beautifully. After a healthy pullback, I’d like to see a close above the October 23rd high for confirmation of a renewed push higher. That Bullish outlook remains valid as long as price stays above the September 8th low.
2️⃣ IDEXX Laboratories (IDXX): Long Consolidation Could Break Out Soon
IDXX has been stuck in a long consolidation phase, but it’s been doing healthy work — moving from Bull Resistance down to Bull Support. If we get a closing break above the September 19th high, that could be the signal for the next leg higher.
3️⃣ SBA Communications (SBAC): Red Zone Domination Continues
This chart remains Bearish with both price and momentum in what I call “red zone domination.” Another move lower off the October 22nd high could take this stock back toward the October 13th low. If it starts going sideways instead, I’d expect more consolidation before any meaningful turn up.
4️⃣ Vertex Pharmaceuticals (VRTX): Recovering, But Facing Gap Resistance
VRTX has climbed from its August 11th low into a key gap zone from August 4th–5th. I’m expecting some short-term consolidation here, with downside risk returning if it breaks below the October 13th low.
5️⃣ Williams Companies (WMB): Pullback Within a Broader Uptrend
After a long consolidation, this stock pushed higher and has since pulled back in a controlled way. As long as price holds above the August 19th low, WMB remains positioned for potential continuation higher.
6️⃣ Clorox (CLX): Deeply Beaten Down, Near Key Historical Levels
Clorox has been stuck in red zone momentum for a while — definitely a beaten-down stock. On a monthly chart, it’s now back near the same price range seen in 2016–2018, which makes it worth watching for early signs of accumulation. I wouldn’t buy yet, but the first Bullish clue would be a break above the September 5th high.
7️⃣ Eastman Chemical (EMN): Testing Pandemic-Era Support
EMN has also endured a long slide. On the weekly chart, it’s revisiting support from March 2020 — and that could become a “bottom-finding” zone soon. For now, I’m watching the 49–50 area as a possible inflection point.
So there you have it — a dive into the charts of several S&P 500 companies reporting Monday, November 3rd.
As we wrap up October, this is a great time to keep monitoring those beaten-down names. Recognizing them before they bottom is what helps you be ready when opportunity knocks.
If you’re finding these weekly dives helpful, hit the 👍 button over on my YouTube Channel — it lets me know you want more!
~ Hima
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