5 Stocks Poised To Make Pre-Earnings Runs in November
In lieu of a Tuesday Daily Market Report, I am doing a sequel to my October 7th, "10 Stocks Poised To Make Pre-Earnings Runs in October." I'll be back on Wednesday with my Daily Market Report.
Earnings season is now underway and the number of earnings reports released will accelerate over the next week to 10 days. We had great success identifying stocks a few weeks ago that were poised to make pre-earnings runs. We're back for an attempted encore. As we look out beyond the next couple weeks, the number of earnings reports will begin to diminish quickly, so I found it difficult to find another group of 10 stocks like the last, especially based on the criteria that I used earlier in October.
Pre-Earnings Run Criteria
Just like last time, I started with our Raised Guidance ChartList (RGCL), which currently has 540 stocks on it. Every stock considered would have seen management raise their revenue guidance, earnings guidance, or both, over the past 3 months. It would make sense to me that, given management's confidence in raising guidance recently, many of these companies could begin to rise significantly ahead of what could be very strong earnings reports.
Here are the slightly-revised criteria I used in selecting the stocks below:
- Is a current component of our Raised Guidance ChartList (RGCL)
- Reports quarterly results within the period, 11/7 through 11/30
- Has a reasonably (word added) strong AD line, suggesting that Wall Street continues to accumulate
- SCTR score is above 70 (was 80), maintaining well above average relative strength
- Very modest gains (< 5%) or losses over the past month, thus consolidating
- Have RSIs representative of a consolidating stock - from 40-55 (was 40-50) or slightly below
- Showed excellent industry leadership prior to consolidation (ie, leading stock)
The 5 stocks poised for pre-earnings runs are provided below in earnings date order.
- ANI Pharmaceuticals (ANIP) - reports Friday, November 7th before market opens (BMO)
- Evolv Technologies Holdings, Inc. (EVLV) - reports Thursday, November 13th after market closes (AMC)
- Varex Imaging Corp (VREX) - reports Tuesday, November 18th after market closes (AMC)
- Dycom Industries, Inc. (DY) - reports Wednesday, November 19th before market opens (BMO)
- NIO, Inc. (NIO) - reports Wednesday, November 19th before market opens (BMO)
These earnings dates are provided by StockCharts.com and are the latest estimated earnings dates and are subject to change. Obviously, I cannot guarantee future price performance and neither I nor EarningsBeats.com are Registered Investment Advisors. I do not recommend the purchase or sale of any security. You should consult with your personal financial advisor before purchasing or selling any security.
Next, I provide the current daily charts of each of the 5 stocks provided, annotating key technical points of interest.
ANIP
EVLV
VREX
DY
NIO
Happy trading!
Tom




