Intraday and swing scenarios based on price action and volume profile.
MSFT faces gloomy forecasts ahead of earnings report
2023-01-25 • Updated
What will happen?
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
How will It affect the price?
The previous quarter, Q3 2022, net income from its $50.12B revenue was $17.56B, a slight increase compared to the $16.74B net profit from $51.8B revenue from the quarter ended June 2022. Despite this, analysts' forecasts show a general pessimism regarding the entire Tech industry following the massive job cuts and global recession. Before we conclude, though, I'd like to review the technical state of things on the price chart.
The setup here looks similar to what we had on the TESLA chart. However, in this case, the price is reacting to the supply zone I've highlighted with the rectangle. We may see the price return to the $234 level or immediately break out of the supply zone to reach the $251 price mark. Either way, the earnings report is expected to play a major role in how this goes for the stock.
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Corrective Bearish Scenario: Sells below 38680 with TP1: 38560, TP2: 38500, TP3: 38432 Continuation Bullish Scenario: Buys above 38816 with TP: 39000
Bullish Scenario: Buy between 17515 and 17600 with TP1: 17681; TP2: 17720 intraday, and TP3: 17750 / 18000 in extension. Bearish Scenario in case of breaking the buying zone: Sell below 17500 with TP1: 17469; TP2: 17421, and TP3: 17358 in extension.
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