Jim Cramer recently pointed out some key stocks that are reporting earnings this week. He pointed out that we'll hear from grocer Kroger (KR) , but he'd rather own America's largest grocer, Walmart (WMT) .
He was bullish on Jabil ( JBL) , the contract manufacturer, and Adobe ( ADBE) , which has its finger on the pulse of the cloud.
Let's check out Jabil here.
In the daily bar chart of JBL, below, we can see that the shares have nearly doubled in the past 12 months. Prices are trading above the rising 50-day moving average line and above the rising 200-day line.
The On-Balance-Volume (OBV) line shows a long and steady rise telling us that buyers of JBL have been more aggressive. The Moving Average Convergence Divergence (MACD) oscillator is bullish.
In the weekly Japanese candlestick chart of JBL, below, we see a bullish picture. Prices are in an uptrend above the rising 40-week moving average line. The candles are not revealing a top reversal pattern at this point in time.
The weekly OBV line is positive and so is the MACD oscillator.
This daily Point and Figure chart of JBL, below, is projecting an upside price target in the $69 area.
In this weekly Point and Figure chart of JBL, below, we can see a potential longer-term price target of around $215.
Bottom-line strategy: I have no special knowledge of what JBL is going to report for earnings on Thursday morning, but the price action and indicators for JBL are bullish. Trade JBL from the long side risking to $54. Our first target is $69.
