Stock futures higher after strong earnings from Procter & Gamble

DJIA futures are up 74 points at the current time following the strong report from Procter & Gamble. The company reported earnings per share of $1.33 vs the $1.29 expectation. Revenue comes out at $19.38b vs. $18.73b expectation. Traders and investors rejoice at the result after NFLX’s initial major slip. NFLX reported a 200,000 loss of subscribers in the first quarter which lead the share prices to tank more than 26% in pre-market trading.

The stock market sentiment will continue influenced by the earnings report and Ukraine – Russia situation for now.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA stage a major bullish movement yesterday and closed near the daily SMA 200. No breakout from the daily SMA 50 – 200 range yet. Traders will continue to monitor the index movement inside the range and decide the next direction by the breakout. On the upside, the index needs to print a higher swing high to confirm a bullish continuation.

Waste Management (WM)

WM share prices have returned above the daily averages after the previous breakout in January. At the current time, the share prices undergo a bearish correction and almost reach the cluster of averages. Traders could prepare long positions near the current level with expectation that the bullish trend will continue.