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Earnings season continues with a busy stretch ahead. Several widely followed S&P 500 stocks report earnings on Tuesday, February 3, and in this update, I walk through a few names that tend to stay on the radar for U.S. retail traders.
As always, I’m focusing on price action, market timing, and momentum to get a sense of where each stock sits heading into earnings — and what would need to happen next to keep a trade idea alive.
🔍 Highlights
1️⃣ Advanced Micro Devices (AMD)
AMD has spent the last several weeks consolidating, but price still appears positioned to work higher as long as it remains above the January 20 low. If that level holds, AMD continues to look on track for a move toward 310.00 by early March. A loss of that January low would be the first signal that this recovery attempt is losing traction.
2️⃣ Super Micro Computer (SMCI)
SMCI has been trading lower and is now attempting to base when viewed through a longer-term lens. Zooming in, price still has room to renew higher while it remains above the January 13–14 lows. A push above the January 23 high would help open the door for a move back toward 45.00. Until then, this remains a stock working through repair.
3️⃣ PayPal (PYPL)
PayPal remains in a persistent downtrend with only a modest bounce developing so far. For the downside pressure to ease, price would need to reclaim the January 22 high. Without that, continued weakness leaves room for a move toward the 50.00 area.
4️⃣ Enphase Energy (ENPH)
ENPH has been attempting to rebuild momentum for months, but price has yet to clear the September 23 high near 41.00. A daily close above that level would shift the outlook toward an initial run at 55.00. On the flip side, a drop below the January 28 low would raise the risk of a move back toward 30.00.
5️⃣ Chipotle Mexican Grill (CMG)
Chipotle has filled the October gap and is now starting to roll over. While price holds above the January 2 low, there’s still a case for regrouping and another push higher. Given this stock’s history, any long setup would need to be taken close to support with tight risk. A loss of the 36.72 support area could put 33.00 back in play.
6️⃣ Mondelez International (MDLZ)
MDLZ has staged a strong recovery after getting hit hard, which puts it at a decision point. Momentum remains below the peak associated with the September high, keeping the longer-term downtrend intact. A move above 65.00 would improve the bigger picture. In the meantime, there’s room for a shorter-term move from the 58.70 area toward that level, with risk defined below the January 21 low.
7️⃣ Take-Two Interactive (TTWO)
TTWO saw a sharp move lower late last week and has become oversold. This stock is working through a broader correction, and patience is key here. The level to watch is the August 8 low — how price behaves around that area over the next several sessions will help determine whether the prior uptrend can stabilize.
8️⃣ Amgen (AMGN)
Amgen has been trending higher and recently cleared the July 2024 high, which had capped price for months. The current pullback looks constructive. A deeper retracement toward 330.00 could offer a potential reentry area, with risk defined below the December 11 low and upside potential toward 370.00.
If this walkthrough helped you think through earnings, trends, or trade management, make sure to hit the Like button over on YouTube!
~ Hima
📅 PS — Trader Trainings This Week!
Here’s what’s on deck:
Ticker Request Live — free weekly trading show
📅 Tuesday, February 3 at 4:30 PM ET
Hima at the Tech Wizards Conference
📅 Wednesday, February 4 at 10:00 AM ET
First 40 Trading Club Office Hours Q&A
📅 Wednesday, February 4 at 12:00 PM noon ET
Monthly Group Coaching Live
📅 Wednesday, February 4 at 4:30 PM ET
You can view the full lineup here himareddy.com/events
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