Earnings Play: Campbell Soup

How to play Campbell Soup's earnings

Charts (1)

On Wednesday, before market, Campbell Soup (CPB) is anticipated to announce 3Q EPS of $0.76 compared to $0.56 a year ago on revenue of approximately $2.2B vs. $2.4B last year. The company manufactures branded food products and its current analyst consensus rating is 3 buys, 11 holds and 4 sells, according to Bloomberg.    

From a chartist's point of view, Campbell Soup's stock price appears to be in a short-term cup and handle pattern that began to form in mid-May.  Price may retrace down to the  $49.00 support level before rebounding towards the $52.50 resistance level. If price can break through the $52.50 level we may see a continuation towards $54.00 and possibly the $57.00 level. If price can not hold above the $49.00 support level we might see a decline to $47.00.            

Source: GAIN Capital, TradingView

More from Earnings

From time to time, GAIN Capital Australia Pty Ltd (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.

As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.