LMT, JNJ and ASML Stock Earnings and Trend Analysis

Companies / Corporate Earnings Nov 23, 2023 - 10:03 PM GMT

LMT $441 BMO - EGF -3% / -1% PE 15.9, -21% Range.

LMT is enjoying a price boost courtesy of the latest Middle East war that reversed an earlier downtrend that was targeting $370. Despite all of the wars earnings are not growing, so based on the fundamentals the stock should trade lower, i.e. target $370, but there is war fever inflating the stock price as the market discounts escalation to some degree, though nothing to suggest a major expansion in the conflict is imminent..

(Charts courtesy of stockcharts.com)

JNJ $157 BMO - EGF 4% / 4% PE 15.1, -81% Range.

JNJ is likely to respond positively to earnings, though I don't expect much price movement as it remains stuck in a $152 to $172 range, nevertheless the stock should rally on earnings to target the top of the range at $172,

Wed 18th Oct

ASML $600 - BMO - EGF 7% / 14% PE 30.1, 33% Range.

A MONOPLOY that traded down to $564 from a high of $770. You don't often get such buying opps in such stocks! Which illustrates why the S&P is a nothing burger. As weakness begets weakness, we could get another dip into earnings that has a good chance of a break below $564 to target $530. Whilst the PE looks a little pricey at 30, ASML does have the growth to keep the bull run going.

The bottom line is that this is one of the best AI tech stocks out there which doesn't often deliver buying opps so don't blow it if as expected another one materialises! I will definitely be adding more to my 81% invested.

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S&P

Targeting 4600 Mid Summer 2023 Top followed by correction to below 4150 into October 2023.

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By Nadeem Walayat

http://www.marketoracle.co.uk

Nadeem Walayat has over 30 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

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