Earnings Season Winners: Microsoft, Palantir, Amazon, and RTX Surge
The Sarge-folio has seen significant gains in several stocks this earnings season. Microsoft (MSFT) is up 13.3% since July 30, having broken out of a 'falling wedge' pattern and retaking its 200-day simple moving average.
Palantir Technologies (PLTR) has also performed well, rising 22% since an article on the company was published last Tuesday. The stock defended its 200-day SMA three days after earnings, making it a good candidate for buying on weakness.
Amy Guilfoyle believes PLTR's target price should be raised to $205 from $181. Amazon (AMZN) has had a nice run, but its upward momentum has cooled since post-earnings highs. The 'cup with handle' set-up that worked well for the stock is now off the table.
RTX has also seen significant gains, and Guilfoyle believes it may be breaking out of a larger rising wedge pattern to the upside. This could result in an exaggerated upward movement if the upper trendline defends itself successfully.