Season-trader

Market Radar 4. November 2022

Market

In the SPY yesterday we saw a candlestick in the chart, which is similar to a doji. A doji signals that a short-term direction decision is now pending. The SPY is likely to reach either 390 or 360 quite quickly, i.e. within a few trading days (yesterday it closed at 371.01).

Run of Sunrun

Run on Sunrun

Sunrun (RUN), a company capitalized with about 5 billion USD from the solar sector, delivered quarterly figures on Wednesday after the stock exchange, which left the expectations of the stock market extremely wrong in terms of profit: A loss of $ 0.01 per share was expected, a profit of $ 0.96 per share was delivered! The stock rose nearly 20% in yesterday’s trading.

SolarEdge (SEDG)

will report post-market quarterly figures next Monday. I will take a long position in the stock today and make a pre-earning bet. With “RUN” behind them, not much should go wrong, especially since Enphase (ENPH) and First Solar (FSLR) had also been positively convincing when presenting the quarterly results.

First Solar entered rally mode after the numbers were announced on Oct. 27 and has since risen 20%. However, First Solar’s buying pressure did not arise on Earning Day itself, but in the days after. This is now clearly accumulating over the trading volume and it looks as if the increase at First Solar (FSLR) is sustainable.

Indirect bet on weakening labour market

In the e-learning industry, no stock underperformed the S&P 500 yesterday. The share of Strategie Education (STRA) rose the most, rising by 8% in the run-up to the quarterly results published yesterday after the stock exchange. In the after-market period, there was no movement in share prices at both Strategy Education (STRA) and Adtalem Global Education (ATGE).

Get the Seasonal Tradingsignals on you cell phone