5 Bullish Chart Set Ups: PNC, COF, JNJ, VZ, PKG

The stock market is getting into the heart of Q3 earnings season.  The calendar is packed between October 14 and 18.  Given the flow of fundamental news, it might be worth taking a look at the technical set up of a few names reporting earnings.  Here are five charts which show promise for future gains.
Johnson and Johnson (JNJ - Analyst Report), Zacks Rank #3 (Hold), releases its earnings report on October 15.  The stock has traded lower in recent weeks and formed a bullish wedge formation.  Prices have been able to hold just above the $85 area.  A move over the recent high just below $91 will confirm a bullish break out and put prices in position to test the recent high near $95.50.  A breach of $85.50 would question the validity of the set up.   The $87.30 area should be a region of support above $85.50.   According to the MACD, price momentum seems to be turning upward. JNJ has beaten the Zacks Consensus Earnings per Share Estimate 10 straight quarters.

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Packaging Corporation of America (PKG - Snapshot Report), Zacks Rank #3 (hold), reports earnings on October 15.  It has corrected back into support in the $55 area in recent sessions and shows signs of turning higher.  It looks set to rebound into the low $60 area and continue the uptrend.  Movement below the $54 region would question the market’s strength.  The MACD is showing bottoming price momentum and is supportive of a turn higher and resumption of the uptrend.  PKG has beaten the Zacks Consensus Earnings per Share estimate 7 of the past 10 quarters. (more)
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