Market analysis 03Aug2022
Oh well, look at the $SPDR S&P 500 ETF (SPY.US)$ , it is rejected at the resistance at around 416. Luckily the daily volume is not huge as well, still got hope for it to break above.
$Crude Oil Futures(SEP4) (CLmain.US)$ price: Know why i use MA30 as a moving average? It has been rejected twice for 2 weeks (the chart is a weekly candle). $88 is the critical point. If it falls below, it will trigger a sold off and we should see a down-side movement of crude oil. For XLE, my short entry remains the same at $65
I have removed $Alibaba (BABA.US)$ from my watch-list. Sad. It can't make it this round. We shall see for its next attempt again
After earning move is +11%, not bad but acceptable, at least not another -20%.
Link for Paypal earning:
Key figures:
Double beat
Revenue: $6.81B VS 6,78 expected
Net profit: $0.93 VS 0.85 expected
New Buy back plan: $15B
Got fund in from Elliott:
“As one of PayPal’s largest investors, with an approximately $2 billion investment, Elliott strongly believes in the value proposition at PayPal. PayPal has an unmatched and industry-leading footprint across its payments businesses and a right to win over the near- and long term,” Elliott Managing Partner Jesse Cohn was quoted as saying in an PayPal earnings presentation. The news comes a day after Elliott said it had become the top investor in social-network operator Pinterest.
these are the good news to get the paypal has a +10% move.
Lastly, it also increase its outlook:
GAAP EPS expected to be ~$1.52-$1.62; raising expected non-GAAP EPS to ~$3.87-$3.97 from prior outlook of $3.81-$3.93 vs. $3.85B consensus
How about the chart?
Pypl is forming a base. We can see the recent stock increase is supported by some volume, but still no significant enough.
Still, the down-trend is prevailling, to me, not a time to add it yet.
Paypal has a strong fundamental, from a company which can do cash buy back we know it still has the strength.
but, the chart suggests we can wait for it to cross MA30, the first step.
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