The tech giant will publish earnings report today after US market close. Expectations are for 2,34$ EPS as the result from the same period last year is 2,35$. A better than expected data will support the stock price.
Uptrend and correction of the last upward movement to 38,2 Fibonacci.
Diagonal and horizontal supports.
DeM reverses below 40 from oversold market – positive signal.
DeM Sequential – reached 8, as the ninth bar from the sequence will give a buy signal.
We should wait a 50% correction of the last bar to minimize risk.
Alternative scenario: In case of a worse earnings report and increase in the geopolitical tensions, this will have negative impact over stock markets. This will cancel the bullish scenario.
Trader Nikolay Georgiev