Brent oil is currently on a bullish trend, facing resistance near $84 and supported by the 200-day EMA. Breaking above this level could lead to a climb towards $90. Short-term support is observed around $80, backed by the 50-day EMA. As summer approaches and travel increases, crude oil tends to benefit from seasonal patterns. Despite temporary setbacks, buying...
Intel Reports Q2 Earnings Today
2022-01-19 • Updated
What will happen?
Intel, the US IT company, will present its earnings report for the second quarter on July 22 after the stock market closes (23:00 GMT+3). The release will be followed by an investor conference call at 00:00 MT, July 23.
What to expect?
During last year Intel did not bring any profit to the investors, in fact, stocks fell more than 9%. The reasons are manufacturing problems and ongoing restructuring. This negative trend was confirmed during the 1st quarter earnings statement, as the company reported a drop in data center revenue and a steep decline in gross profit margins. Experts predict sales to decline about 10% from the same period one year ago.
After the 1st quarter report was published on April 22 the price rose by 2% on post-market, as the revenue was better than experts predicted. Investors expect Intel to report $17.8 billion revenue to be reported on Thursday. If the result overcomes expectations, the price might gain 2-3% on the post-market trading session.
Technical analyses
Daily chart
Since April 25 the price is squeezed between $53.5 and $58. At the moment the price is trying to break the 50-day moving average. If Intel reports higher revenue than expected, the price will break this resistance and move up to $58. Otherwise, it has the potential to fall and test $53.5 support level.
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Bearish Scenario: Sales below 78.99 with TP1: 77.93, TP2: 77.45, and upon its breakout TP3: 76.56 and TP4: 75.70 Bullish Scenario: Purchases above 78.00 (wait for a pullback to this area) with TP1: 1679.00 (uncovered POC*), TP2: 79.33, and TP3: 79.66 intraday
Bearish Scenario: Sales below 80.00 with TP1: 79.34, TP2: 78.94, TP3: 78.55, and 78.00 Bullish Scenario: Buys above 78.00 (wait for a retracement to the zone) with TP: 79.34 TP2: 80.00, and TP3: 81.00
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Bearish scenario: Sales below 80.00 with TP1: 79.60... Anticipated bullish scenario: Intraday purchases above 80.70 with TP: 81.50...