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Earnings Plays This Week

On Tuesday, Walt Disney (DIS) is likely to unveil 2Q EPS of $0.93 vs. $1.61 the prior year on revenue of $17.9B compared to $14.9B last year. The Co is an entertainment and media giant, and on April 28th, DISH Network (DISH), a satellite television services provider, asked the Co to refund the fees from its subsidiary ESPN because live sports are not being played as a result of the coronavirus pandemic, according to Bloomberg. Looking at a daily chart, the RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the share stands above its 20 day MA ($100.78) but below its 50 day MA ($115.92). We are looking at the final target of $141.00 with a stop-loss set at $93.80.    

Additionally on Tuesday, Activision Blizzard (ATVI) is expected to announce 1Q EPS of $0.38 vs. $0.31 the prior year on revenue of $1.3B in line with the year before. The Co is one of the world's largest video game publishers and on April 22nd, Sony Mobile Communications and the Co announced that the Call of Duty: Mobile World Championship 2020 Tournament will begin on April 30th. The competition features over $1M in total prizes. From a technical point of view, the RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day MA (respectively at $63.50 and $60.50). We are looking at the final target of $78.60 with a stop-loss set at $59.10.

On Wednesday, PayPal (PYPL) is anticipated to release 1Q EPS of $0.75 vs. $0.78 the prior year on revenue of $4.7B compared to $4.1B last year. The Co operates an online payment firm and on April 10th, the Co revealed that they are one of the first non-bank institutions to be able to provide small business loans through the U.S. Small Business Administration (SBA) Paycheck Protection Program. From a chartist's point of view, the RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day MA (respectively at $106.84 and $105.82). We are looking at the final target of $149.30 with a stop-loss set at $104.50.

On Thursday, Bristol-Myers Squibb (BMY) is awaited to post 1Q EPS of $1.49 vs. $1.10 the prior year on revenue of $10.0B compared to $5.9B last year. The Co develops pharmaceuticals and on May 1st, the U.S. Food and Drug Administration (FDA) accepted the Co's New Drug Application for CC-486, a maintenance treatment for acute myeloid leukemia (AML). Technically speaking, the RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day MA (respectively at $59.44 and $57.73). We are looking at the final target of $70.50 with a stop-loss set at $58.10.

Looking at the S&P 500 CFD, the index broke above its resistance level at 2900 and continued upward until finding new resistance at 2973. Price pulled back after it broke out of its sideways range. As long as price can hold above 2725 support, we will most likely see a continuation of the rebound towards 3129. A break below 2725 support could pressure the index back down towards 2538 support. 



Source: GAIN Capital, TradingView

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