Preview of week starting 18Apr2022 - preview, calendars, S&P500 and stock of interest ~ Micron

Holidays

Hong Kong will be closed for the Easter holidays on 18 Apr 2022 (Mon).

News

Sri Lanka has reached out to the international community (namely IMF and China) for help as they began their default.  Unrest was reported in the country as they ration fuel and faced power outages.  

War rages on in Ukraine though there were continuing peace talks.  Following the updates of stories from previously occupied towns, the West looks to apply more sanctions on Russia.

There is some tension when a US delegate visited Taiwan.  Shanghai's lockdown has eased with the lift of restrictions in selected districts.

In the market, the biggest news was Elon's quest for free speech through his offer of USD$43 billion to purchase Twitter.  The US hits a record inflation rate of 8.5% and we can expect the Fed to respond with a more aggressive rate increase and asset selling.

Economic Calendar

Economic Calendar for the week starting 18Apr22

Notable events:

China reports their GDP in the coming week.

For the US, we will get important updates of home sales (20 Apr 2022) and Initial jobless claims (21 Apr 2022).  Fed Chair Powell will update Fed's strategy on (21 Apr 2022 night, 22 Apr 2022 for APAC). This will be followed by PMI (Apr 2022) updates on 22 Apr 2022.

Earnings Calendar

Apr 2022 earnings

Some of the notable earnings include:

$DOV on 18 Apr 2022

$LMT on 19 Apr 2022 - Defense stock > we should expect some good news in lieu of the recent conflict as countries seek to strengthen their military

$TSLA on 20 Apr 2022 - the world leader in EV will report its Q1/2022 results.  we are expecting the Shanghai lockdown may remove some of the shine as they suffered a production halt.

$T on 21 Apr 2022 & $VZ on 22 Apr 2022 - The telco powerhouses in the US will be reporting their earnings

The stock of interest - MICRON

1D Chart for Micron $MU

Micron $MU is a stock of interest as the stock fell despite a good quarter - dampened by the "general slow down sentiment" of the chips market in 2023.  From the 1D chart above, we notice that stochastic is hugging the bottom and MACD is similar.  We can be hopeful that the stock should recover from the bottom over the course of the few days, pending any macro or black swan events.  It is prudent to exercise patience.  I will rather be late with lesser profits than risk suffering a bigger loss. 

S&P500 Chart

1D chart S&P500

From the 1D chart above, we see that the moving average MA50 is forming good support.  The stochastic signals a potential reversal of the recent downtrend.  It could rally upward but with MACD pointing to a downtrend, there is a chance of it going sideways or downward too.  

CNN Business Fear & Greed Index as of 14 Apr 2022

We have some important economic announcements starting with China's GDP.  From CNN's fear and greed index, the market seems to be in the "fear" zone - nervy. We can expect Fed Chair Powell to preview a more aggressive interest rate hike and assets sales.  For me, I remain cautiously hopeful as the market remains nervy.

As always, please research before investing.