Stock futures trading flat as traders wait for earnings result

The Asian stock market and European stock market traded mixed today while U.S stock futures are also directionless. Traders and investors seem to digest the earnings results and wait for further clues from the next earnings releases. We might see the sideway movement before earnings releases and the next FOMC meeting.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index continues its slow ascend and printing more bullish closes. The index is set to continue its upward movement and target a new record high. Today’s trading session might show sideways movement as the DJIA futures currently trading at -20 points. If the index trade lowers then the daily SMA 50 & 100 will provide support.

Coca Cola Co (KO)

KO share prices long-term trend continue to be bullish. The share prices might have closed below the daily SMA 200 but it reclaims the level and currently maintaining the position above it. Traders could use the moment to enter long positions with stops below the averages. On the upside, a breakout above daily SMA 50 & 100 will confirm a bullish continuation.