We've now had five early earnings reports from the consumer staples sector in the last couple weeks, including today's reports from General Mills and Constellation Brands. On average, EPS for these companies beat analyst estimates by 12.5%, revenue beat by over 3%. That suggests that analysts have underestimated both demand and profit margins for this sector in...
Consumer staples have sold off along with the rest of the market, but if grocery store shelves are any indication, this sector should have a pretty good quarter. With people eating out less and eating at home more, expect several months of strong demand and good free cash flow in this sector. RHS looks to me to be finding support, and the big volume spike today...
The Invesco equal weight consumer staples fund made a bullish MACD cross today on the daily chart. It's also above signal on the weekly chart, so this cross should have some legs. Consumer staples are a counter-cyclical sector, so they tend to do well as the economy heads toward recession.
Nearly every single sector in the entire market is either overbought or down-trending right now, with two exceptions. Consumer staples and utilities are both climbing out of oversold territory and should gain Friday while the rest of the market pulls back.
An intraday high potential, back tested long analysis.
1) A well shaped bullish, Butterfly Pattern
Details on the chart
NOTE: ENTRY RANGE AREA BELOW THE ENTRY POINT, IS CALCULATED UPON 80% OF THE RECORDED PULLBACK BACK TESTED PAST PERFORMANCES
DISCLAIMER: THIS IS A TECHNICAL ANALYSIS STUDY, NOT AN ADVICE OR RECOMMENDATION TO INVEST MONEY ON.
