Investors will hear Monday from Whirlpool Corp. (WHR) , which is scheduled to announce its second-quarter earnings results after the market close. Let's check the charts and indicators ahead of this report.
In the daily bar chart of WHR, below, we can see the price action from the past twelve months. Prices are about about 50% from their late December nadir. WHR is trading above the rising 50-day moving average line and the rising 200-day line.
Trading volume has been very light the and featureless the past year but the On-Balance-Volume (OBV) line shows a rise from early November. A rising OBV line happens when traders are more aggressive (read more volume) on days when the stock closes higher. This month prices have broken above the highs of February and April/May, which helps to tell us that a bottom has been made.
The Moving Average Convergence Divergence (MACD) oscillator is above the zero line but the two moving averages are on top of each other. We could see prices and the MACD oscillator turn up or down from here.
In the weekly bar chart of WHR, below, we can see that prices are above the rising 40-week moving average line. Reading the chart from right to left we can see that we are into the bottom end of a broad resistance zone from $150 to $170 or so.
The weekly OBV line has made a bottom but needs to move above the February high. The weekly MACD oscillator crossed to the upside from above the zero line for an outright go long signal.
In this Point and Figure chart of WHR, below, we can see a potential longer-term price target of $202 being projected.
Bottom-line strategy: I have no special knowledge or insight about Monday's earnings' report but the charts suggest that we should see higher prices for WHR in the months ahead.
