Aston Martin builds luxury cars and SUVs in over fifty countries around the world and aims at becoming the first luxury electric vehicle company.
Aston Martin stock prices outperform at the start of 2021
Listed on the London Stock Exchange, Aston Martin’s shares have outperformed in 2021 as the world sees the light at the end of the tunnel in the fight against the COVID-19 pandemic.
The auto-industry was hardly hit by the crisis, but the luxury brands fared better than many expected. Ahead of this week’s earnings, the Aston Martin share price looks big as it consolidates in a continuation pattern.
When Does Aston Martin Report Q4 Earnings?
Aston Martin Lagonda will announce its Q4 2020 and full results for the fiscal year next Thursday, February 25th, 2021, at 08:30 GMT.
Market Expectations from Aston Martin’s Earnings Statement?
The market expects revenues for the last quarter of GBP750.65 million, corresponding to a forward price/sales ratio of 72.29. Also, the expectations for YoY growth are -41.62%, reflecting the ongoing struggles and the restructuring efforts. Any positive surprise should be enough to push the Aston Martin share price to a new higher high.
Aston Martin Shares: Technical Analysis
The technical picture reveals a bottoming triangle that formed during 2020 as it acted as a reversal pattern. Since November, when the stock markets around the world started a new leg higher, Aston Martin’s share price broke above the upper edge of the triangle. Ever since, it kept forming higher highs and higher lows, a series typically seen during bullish trends.
The upper edge of the channel acts as resistance, while the lower one acts as support. While inside the rising channel, the market remains bullish, and traders should focus on finding continuation patterns. At present, the price appears to consolidate in a pennant formation – a continuation pattern that should lead to a new higher high, providing the Q4 2020 earnings do not disappoint.
What Is the Outlook for the Virgin Galactic Share Price?
Last year’s announcement that the Aston Martin Lagonda and Mercedes-Benz AG will share technology brought confidence in Aston Martin’s ability to succeed in its restructuring efforts. The market welcomed the announcement, as seen by the shares price that bounced after forming a triangle as a reversal pattern. Should the company deliver a positive earnings surprise, the chances are that the share price will continue in the rising channel, putting pressure on the upper edge.