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Earnings season is kicking off, starting with the banks as usual. I’m taking a look at S&P 500 stocks reporting earnings into Tuesday, April 14.
🔍 Highlights
1️⃣ BlackRock (BLK)
BlackRock has been working lower over the past few months and is now consolidating into what looks like a base. Recently, it’s started to push higher, but that move hasn’t really gained strong momentum yet.
From a momentum standpoint, RSI Power Zones are sitting in a neutral area, so this becomes more of a support and resistance-driven setup.
I’m watching resistance from the recent doji high and support from the April 9th low. A move above resistance opens the door for further recovery, while a break below support shifts the focus back toward the lower end of the base.
2️⃣ Johnson & Johnson (JNJ)
Johnson & Johnson has been consolidating between its March high and March low, and right now it’s starting to tilt lower within that range.
This is a situation where the boundaries matter. Price needs to break below the March 24th low to open the door for a deeper move, potentially working back toward prior highs from December.
If it can reclaim the early April highs, that shifts the focus back toward the upper end of the range, but it remains a consolidation environment.
3️⃣ Wells Fargo (WFC)
Wells Fargo has been recovering strongly off the March 13th low, but there’s a disconnect developing between price and momentum.
While price continues higher, RSI Power Zones are not confirming that strength in the same way. That type of divergence can point to a potential opportunity for price to trade lower.
The first downside level I’m watching is a return toward the March 30th low. If price instead continues higher, I’m looking at the Outside Bar range from February 9th as resistance — including the low, midpoint, and high of that range.
4️⃣ CarMax (KMX)
CarMax has been recovering since the April 2nd low and is working its way back toward the January 22nd high.
Here I introduce a more Advanced Forecasting concept using a Forecast Cloud, which defines a range where a high is expected to form rather than a single price point.
As long as the April 2nd low holds, the expectation is for price to work higher toward the $59 area over time. This is a broader projection that can be refined as price action develops.
5️⃣ JPMorgan Chase (JPM)
JPMorgan Chase has already started to recover and recently gapped higher, but it’s now approaching a key resistance zone.
That zone sits roughly between 312 and 320, aligning with prior highs. Given the broader context, this looks like a recovery within a down move.
If price forms a high in this area and turns lower, I’m watching for a move back toward the April 11th low. If it continues through resistance, that shifts the outlook.
6️⃣ Citigroup (C)
Citigroup has recently broken above its February 10th high after a long period of consolidation.
That move comes after working off overbought conditions, which is something I pay close attention to when evaluating momentum in an uptrend.
Even with the breakout, price is still hovering near recent highs, which makes chasing strength less appealing. Instead, I’m watching for a pullback toward the April 7th level as a potential area to reassess.
Across these earnings setups, the focus is on how price interacts with support and resistance while momentum either confirms or diverges.
Earnings can accelerate moves, but the chart still provides the levels that matter. Staying focused on those levels helps guide decisions as price unfolds.
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