Earnings Play: Agilent Technologies

Upside breakout from a short-term falling wedge pattern.

Stocks (2)

On Monday, after market, Agilent Technologies (A) is anticipated to release fourth quarter EPS of $0.92 compared to $0.89 a year ago on revenue of approximately $1.4 billion, in line with last year. Agilent is an international life sciences and diagnostics company, and on November 13th, the Co announced that it received approval from the U.S. Food and Drug Administration (FDA) for the use of its PD-L1 IHC 22C3 pharmDx as a diagnostic aid in the identification of triple-negative breast cancer and other conditions. 

Technically speaking, on a daily chart, Agilent's stock price has been in a strong uptrend since mid-March. Today, price opened above the upper trendline of a short-term falling wedge pattern that price has been declining within since November 9th, after the stock made a record high of 117.50. The simple moving averages (SMA) are set-up in a bullish manner, with the 20-day SMA above the 50-day SMA and the 50-day SMA above the 200-day SMA. The RSI is over 50 and pointing upwards. Price will likely advance towards its all-time high of 117.50. If price can breakout to the upside of 117.50, then its next target would be 132.75. If price retreats then investors should look for a rebound off of 100.50. If price breaks out below 100.50 it would be a bearish signal that could send price tumbling back to 93.00.         



Source: GAIN Capital, TradingView

More from Earnings

Disclaimer: GAIN Capital UK Limited (trading as "Forex.com") is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, Forex.com does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by Forex.com or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although Forex.com is not specifically prevented from dealing before providing this material, Forex.com does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.