As the week progresses, technology investors will be keeping a close eye on earnings reports from companies such as Palo Alto Networks and Nordson. Palo Alto reports after the bell on Monday, with expectations of a positive reaction to the earnings announcement. The stock is highly-ranked for relative strength and seasonality, with a bullish stretch typically seen from May through August. Anticipate a share price closer to $355 over the coming months, as short-term cycles imply a positive momentum. Nordson, on the other hand, is also expected to receive buying support after its earnings report. The monthly cycle is rising but not overbought, with favorable seasonality and a potential share price rise to $290 into June.
In terms of daily, weekly, and monthly cycles, Palo Alto Networks is showing strong momentum and a long-term relative uptrend that remains intact. Nordson, on the other hand, has not seen a new relative strength low since November and its monthly cycle has bottomed. With a history of rising share prices from May through September, there is optimism for both companies going forward. Nordson investors may see a positive trend in the share price, potentially reaching $290 by June.
Overall, the post-OPEX week in May has historically been a strong period for the stock market since 1985. With expectations of a rally into the end of the month, investors are gearing up for potential gains. Both Palo Alto Networks and Nordson have upcoming earnings reports that are anticipated to be met with buying support, further contributing to the positive outlook for tech investors. Keep an eye on these stocks as they navigate through the post-OPEX week and beyond, with the potential for share prices to reach new highs in the coming months.
