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danielosborne
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I am an investment professional currently working for the amazing Wall Street Bad Boys.
My company:
NextCandle.com
My blog:
Nextcandle.com
  • A Review Of NextCandle.com’s Top Stock Forecasts: Earnings Season Begins 0 comments
    Apr 14, 2012 1:10 AM | about stocks: JPM, AA, WFC

    Earnings season can be an extremely volatile time for stocks and stock forecasts, especially during uncertain economic times. On Thursday before the market opened, NextCandle.com issued the following stock forecasts for these stocks that had either reported earnings or were about to report them:

    · JPMorgan Chase & Co. (NYSE:JPM) had a 67% probability of making a higher high during the next trading day.

    · Alcoa (NYSE:AA) had a 71% probability of making a higher high during the next trading day.

    · Wells Fargo & Company (NYSE:WFC) had a 69% probability of making a higher high during the next trading day.

    And the results on Thursday:

    · JPMorgan Chase & Co. (JPM) opened higher at $44.12, had a daily trading range of $44.00 to $44.99 for the day and closed at $44.84 a share. JPMorgan Chase & Co. (JPM) ended up reporting solid earnings right after the market closed on Thursday and even announced a $15 billion stock buyback program and a dividend increase. However, investors were not particularly satisfied JPMorgan's outlook or its ability reign in costs. Hence, the stock sank 3.64% on Friday.

    · Alcoa (AA) opened higher at $9.90, had a daily trading range of $9.96 to $10.24 for the day and closed at $10.17 a share. After the bell closed on Tuesday, Alcoa (AA) reported impressive earnings that had surprised analysts expecting a loss but it later sank 3% on Friday as China's GDP numbers disappointed. Given that Alcoa (AA) is one of the Dow's most heavily exposed to China stocks, traders need to keep an eye on any data or market sentiment changes coming out of China when they review NextCandle.com stock forecasts for the stock.

    · Wells Fargo & Company (WFC) opened higher at $33.69, had a daily trading range of $33.52 to $34.16 for the day and closed at $34.02 a share. On Thursday after the market closed, reported a 13% rise in net income to a record $4.3 billion for the first quarter thanks to a strong performance in mortgages while quarterly revenue was the highest in nine quarters. Nevertheless, Wells Fargo & Company (WFC) fell 3.47% on Friday along with the whole market.

    Again, it's very hard to have accurate stock forecasts for the trading session immediately after earnings are announced because there are just too many factors at play that can impact investor and trader sentiment. Nevertheless, NextCandle.com's stock forecasts JPMorgan Chase & Co. (JPM), Alcoa (AA) and Wells Fargo & Company (WFC) for the days before or after the trading session when earnings were known in the market place were at least right on the money.

    NOTE: THIS PIECE WAS JUST POSTED ON THE NEXTCANDLE.COM BLOG.

    Stocks: JPM, AA, WFC
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