Carter Worth Shares Stocks He Would Buy Or Sell On Earnings

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Carter Worth of Cornerstone Macro shared with the viewers of CNBC's "Fast Money" his stock picks ahead of earnings.

He's bullish on Abbott Laboratories ABT because he noticed a head and shoulders bottom formation. He thinks the stock might move back to $52 and he wants to be long the stock going into earnings.

EBay Inc EBAY also has a head and shoulders bottom formation and it looks like it's going to break out on the upside, said Worth. He would buy the stock.

Worth sees more upside in Microsoft Corporation MSFT. He explained that the stock has traded inside the range of its uptrend channel so far and he believes it's going to hit the upper bound of the range.

The daily chart of Harley-Davidson Inc HOG doesn't look good, said Worth. He identified a head and shoulders top formation and he expects to see more downside.

There is a similar pattern in International Business Machines Corp. IBM. It broke its uptrend line and there is a head and shoulders top pattern. Worth wants to initiate a short position in the name.

Worth would also take a short position in Union Pacific Corporation UNP because he noticed that the stock has dropped below its trend line.

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Posted In: CNBCLong IdeasShort IdeasMediaTrading IdeasCarter WorthFast Money
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