Earnings Gaps and a Lost 50-Day Line Set the Levels Chart Watchers Have Circled

NEW YORK, Nov. 4, 2026 /CNW/ -- Stock Preachers News Commentary - The S&P 500 heads into Wednesday after three straight closes below its 50-day moving average, while the Nasdaq Composite holds about 1.2% above its 200-day line. Beneath the indexes, last week's earnings reports left a clear set of technical markers on individual charts: unfilled price gaps, volume running more than twice to nearly seven times normal, and stocks sitting just under their 200-day averages. Active Companies from around the markets with current developments this week include: Fortinet, Inc. (NASDAQ: FTNT), The Boeing Company (NYSE: BA), Chipotle Mexican Grill, Inc. (NYSE: CMG), Wingstop Inc. (NASDAQ: WING), United Parcel Service, Inc. (NYSE: UPS).

Most of the major averages finished Tuesday with modest gains. The S&P 500 rose 0.36% to 7,568.92, below its 50-day simple moving average of 7,692.74 but well above its 200-day average of 7,315.89, based on daily closing prices. Monday's close of 7,541.40 was the index's lowest since July 31, and Tuesday's finish left it about 3.5% under its 52-week intraday high of 7,844.52 from Oct. 6. The Nasdaq Composite gained 0.83% to 25,372.01, nearly 1,170 points below its 50-day average of 26,541.66 and about 1.2% above its 200-day average of 25,073.21.

The Dow Jones Industrial Average slipped 0.38% to 51,786.72, a third straight close beneath its 50-day average of 52,152.95, with its 200-day average at 50,630.28. The Russell 2000 added 0.23% to 2,812.45, about six points above its 200-day average of 2,806.49 and below its 50-day average of 2,851.68. Index futures were mixed overnight: as of 2:26 a.m. ET, S&P 500 futures were down 0.20% and Nasdaq-100 futures were down 0.26%, while Dow futures were up 0.08% and Russell 2000 futures were up 0.27% from their prior closes.

The overnight results also put a date on the policy calendar. According to race calls by The Associated Press as of 2:13 a.m. ET, Democrats won control of both the Senate and the House in Tuesday's voting, and terms in the new Congress begin on Jan. 3, 2027. Several of the companies below have pointed to policy-linked items in their own releases, from Boeing's selection by the U.S. Navy for the F/A-XX fighter to the tariff relief Chipotle cited in its food costs and the trade-policy and tariff factors listed in UPS's forward-looking statements.

Gaps, moving averages and volume are the tools behind every level in this report, and the free Knowledge is Power guide from Stock Preachers shows how to read them at stockpreachers.com.

In other industry developments and happenings in the market this week include:

Fortinet, Inc. (NASDAQ: FTNT)

Fortinet reported on Oct. 28 that third-quarter revenue grew 20% year over year to $2.08 billion, billings grew 29% to $2.34 billion and product revenue grew 37% to $765 million. The company raised its 2026 revenue guidance to 20% year over year growth, guided fourth-quarter revenue to a range of $2.155 billion to $2.245 billion and increased its share repurchase authorization by $1.2 billion.

The stock opened Oct. 29 at $127.96, 26.5% below the prior close of $174.08, on volume of about 17.4 million shares, more than four times its 50-day average. That left an open gap between $139.44 and $173.02 that later sessions have not reached. On Nov. 2 the shares closed at $126.21, their first close below the 200-day moving average since April 23, and they ended Tuesday at $128.11, just under that average at $128.90 and far below the 50-day average of $170.32.

"We are very pleased with our excellent third quarter results, which reflect strong execution and broad-based demand across our entire portfolio, allowing us to raise our 2026 billings guidance for the third time this year," said Ken Xie, Founder, Chairman and Chief Executive Officer of Fortinet.

The Boeing Company (NYSE: BA)

Boeing reported on Oct. 27 third-quarter revenue of $24.2 billion, up 4% from a year earlier, with a GAAP loss of $0.26 per share, a core loss per share (non-GAAP) of $0.34 and free cash flow (non-GAAP) of $0.5 billion. Total company backlog grew to a record $745 billion, including over 6,300 commercial airplanes. The 737-7 achieved amended type certification from the FAA, the 737-10 achieved it in October, and the U.S. Navy selected Boeing to design, build and deliver the F/A-XX next generation fighter aircraft.

The shares fell 10.7% on Oct. 27 to $168.18 on about 47.3 million shares, roughly 6.7 times the 50-day average, and touched a 52-week intraday low of $165.01 the next day, when the $167.14 close was the lowest since April 2025. The stock has recovered to $173.31 but sits below both its 50-day average of $194.61 and its 200-day average of $216.25, with the 50-day under the 200-day. It has not closed above its 50-day average since Aug. 19, and since Oct. 28 the shares have traded between $165.01 and Monday's high of $177.37.

"We remain focused on safety and quality as we redouble our efforts on Lean and disciplined execution to deliver on our commitments and build the durable performance our stakeholders expect," said Kelly Ortberg, Boeing president and chief executive officer.

Chipotle Mexican Grill, Inc. (NYSE: CMG)

Chipotle reported on Oct. 28 that third-quarter total revenue increased 9.6% to $3.3 billion and comparable restaurant sales increased 2.1%, including a 0.8% increase in transactions, its third consecutive quarter of positive transaction growth. Diluted earnings per share were $0.27, down 6.9% from $0.29. Food, beverage and packaging costs fell to 29.5% of total revenue from 30.0%, which the company said was primarily driven by menu price increases, tariff relief and favorable limited-time offer mix, partially offset by inflation, primarily in beef and freight, and higher protein usage. For 2027, it is anticipating 340 to 360 new company-owned restaurant openings in the U.S. and Canada.

The shares opened Oct. 29 at $30.46, 6.0% above the prior close and above the Oct. 28 high of $29.24, on volume of about 42.5 million shares, roughly 2.4 times the 50-day average. The gap between $29.24 and $29.90 remains open. The stock has closed higher five sessions in a row, from $27.98 on Oct. 27 to $33.26 on Tuesday, which put it above its 50-day average of $32.90 and left the 200-day average of $33.99 as the next line overhead. Chipotle last closed above its 200-day average on Sept. 14.

"Three consecutive quarters of positive comparable transaction growth demonstrates that our Recipe for Growth strategy is working," said Scott Boatwright, Chief Executive Officer, Chipotle.

Wingstop Inc. (NASDAQ: WING)

Wingstop reported on Oct. 28 that domestic same store sales decreased 5.4% in its fiscal third quarter, while system-wide sales increased 6.0% to $1.4 billion and total revenue rose 5.3% to $185.1 million, with 76 net new openings. The company updated its 2026 guidance to a decline of approximately 6.5% to 7% in domestic same store sales and global net new units of 440 to 450.

The stock opened that morning at $133.09, above the prior session's high of $124.19, and closed up 12.2% at $138.57 on volume about three times its 50-day average, leaving a gap between $124.19 and $128.70 that is still open. The advance reached an intraday high of $170.37 on Nov. 2, when the shares closed at $163.04, their first close above the 200-day average since Jan. 12. On Tuesday they slipped to $161.57, just below that average at $162.27, while the 50-day average sits far lower at $116.94 after a rise of about 69% from the Sept. 25 low of $95.82.

"We are taking deliberate action across our business to drive same store sales growth, with a focus on sharpening our marketing execution, strengthening restaurant operations, and leveraging Club Wingstop to deepen guest relationships," said Michael Skipworth, President and Chief Executive Officer.

United Parcel Service, Inc. (NYSE: UPS)

UPS reported on Oct. 27 that third-quarter consolidated revenue increased 6.7% to $22.9 billion, with diluted earnings per share of $1.37 and non-GAAP adjusted diluted earnings per share of $1.69. The company raised its fourth-quarter and full-year 2026 financial guidance and now expects full-year consolidated revenue of approximately $92.6 billion and non-GAAP adjusted diluted earnings per share of approximately $7.28.

UPS did not gap. It opened Oct. 27 at $101.54, inside the prior session's range, and climbed 5.75% to close at $106.09 on about 10.9 million shares, roughly 2.4 times its 50-day average. That was its first close above the 200-day average since Aug. 28. The stock built on the move through Monday's close of $109.71, its highest since July 27, and finished Tuesday at $109.17, above its 50-day average of $99.49 and its 200-day average of $104.60, though the 50-day remains below the 200-day and the 52-week intraday high of $122.41 from Feb. 12 sits well above.

"Our third-quarter results demonstrate the continued strengthening of our business fundamentals, driven by premium growth and greater network efficiency," said Carol Tomé, UPS chief executive officer.

Wednesday's session will show whether these gaps hold and whether the S&P 500 can work back toward its 50-day line. For a plain-language walkthrough of gaps, moving averages and volume, download the free Knowledge is Power guide at stockpreachers.com.

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