New Oriental Education (EDU) Earnings Release Analysis 26 Jul 2023 Pre Market

Market is expecting the company to report a rise in quarterly revenue, expected to report a 56.5% increase in revenue to $820.073 million from $524.02 million a year ago.

In this article, I would like to share how technical analysis is telling us about New Oriental Education.

How we can plan out trade around this stock?This stock came out 3 days ago on 24 Jul 23 as one of my stocks pick.

I will share on how I would trade New Oriental Education later in the Summary section.

New Oriental Education have been going on bull trend for more than 200 periods. but the strength is weak.

With a positive earnings expected, I foresee the strength might increase. Let us look at more indicators to check out more signals.

RSI is showing that New Oriental Education might be experiencing overbought, this could trigger a sell off if there is a price surge after its earnings report in premarket 26 Jul 2023.

This is something we need to take note when we do up our trading plan.

ADX value is between 20 and 40 indicate that this stock is in a developing trend.

With +DI above -DI by a wide margin, this suggest a strong upwards move. I would think New Oriental Education could be in a strong developing trend.

I would be looking to plan for a price entry as I foresee there will be a price surge in pre market after they announced their earnings.

New Oriental Education has gone through a bullish reversal in early July and it is in a strong bullish upwards trend.

But as we have seen from RSI, there might be some selloffs once the earnings came in with positive and increase in earnings.

As we have seen that New Oriental Education is currently in a bull trend even before its earnings report. Hence it is important for us to take note of how this stock would be trading before and after its earnings report.

I would expect the price to go above $50.50 once premarket opens. Hence, I would plan my target price around $50 to $50.50.

If there is a lot of SELL volume at price staying around $50, I will hold onto my entry, and look out for Bull/Bear strength before considering entering.

Appreciate if you could share your thoughts in the comment section whether you think New Oriental Education earnings would surpass estimate by a wide margin and it will experiencing a price surge in premarket today (26 Jul 2023)?

Disclaimer: The analysis and result presented does not recommend or suggest any investing in the said stock. This is purely for Analysis.