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We first shined our spotlight on DuPont (DD) in our posting last week that noted how well the market had anticipated the company's "surprise" earnings announcement in which they lowered guidance for both Q2 and the full year. We struggled to mute our cynicism at how the market had sold off DD both in relation to the broader market and within its sector for three weeks leading up to the company's "surprise".
Since then, we've been shining the hot-lights on the company's performance and have updated our notations on the chart below.
Is DD bottoming? Is momentum turning up? Is it currently or soon-to-be 'oversold'?
Worth watching closely.
We currently have no position of DD in our strategies, but these are among the questions that we're considering as we head into earnings season, and especially as the market is coming off recent highs.
Will keep you posted.
Please continue to visit Soos Global Market Musings for updates.
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currently long many stocks/ETFs. Positions may change at any time without notice.