Shares of Whirlpool are beginning the week with a healthy 3% gain.  Major support near $146.00 may have marked a significant low.

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Ahead of next week’s earnings report shares of WHR are lifting off a key level.  Back in late October of 2016, just ahead of the election, the stock bottomed just below $146.00.  Ten weeks later WHR had gained over 30%.  Earlier this month, after the stock extended its pullback off the January highs to 20%, WHR retested the $146.00 area.  Last week shares continued to base just above this key zone.  Today the stock is moving quite well and is headed for its best April close. 

A strong earnings report next week could propel the stock sharply higher.  WHR now has a solid foundation underneath and is set up well for rebound.  Support is in place between $153.00 and $150.00.  On the downside, a close back below last week’s low($146.70)would be a clear warning sign. 

At time of publication we do not have a position in WHR.