Campbell Soup Co. (CPB) is due to report earnings on Thursday before the market opens. Let's check out the latest charts and indicators to see if they give us any technical clues about how traders might be positioned.
In this daily bar chart of CPB, below, we can see that prices have been stuck in a $46 to $54 trading range for several months now. Prices are above the rising 50-day moving average line and the rising 200-day moving average line. This is not a strong rally and a retest of these averages would not surprise me.
Trading volume has been neutral the past two months and does not show a build up of activity ahead of earnings. Traders might not be expecting a "beat" tomorrow.
The On-Balance-Volume (OBV) line moved up from a June low but recently weakened ahead of earnings. This is not the picture of committed bulls.
The Moving Average Convergence Divergence (MACD) oscillator just crossed to the downside for a take profits sell signal.
In this weekly bar chart of CPB, below, we can see a less than robust picture. Prices are above the rising 40-week moving average line but not strongly above this lagging indicator.
The weekly OBV line has weakened since the beginning of the calendar year and suggests that investors have been liquidating long positions on available strength. The MACD oscillator is just barely positive.