
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
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Walmart, America’s biggest retailer, will present its earnings report for the second quarter on Tuesday, August 17 before the stock market opens (14:00 GMT+3). The release will be followed by an investor conference call at 15:00 MT, August 17.
Walmart benefited from the pandemic as people increased grocery items and daily staples consumption. The retailer has warned investors that 2021 will not be as successful as 2020 was. Walmart’s analysts expect a slowdown in sales and revenue as consumers will take a break from their pantry loading habits.
Nevertheless, Walmart has already outperformed the Q1 expectations. It demonstrated $138.3 billion of revenue and $1.69 earnings per share (analysts predicted $132.2 billion and $1.21 respectively). Investors appreciated these results and pushed the stock up by 3%.
Analysts and experts’ expectations for the Q2: Revenue = $136.6 billion, EPS = $1.56.
The Q2 expectations look optimistic as Walmart demonstrated a 10% revenue decrease in Q1 2021 comparing to Q4 2020.
Daily chart
It is seen that during the past three trading days investors were selling the stock at $150. The RSI also shows the stock is locally overbought. It looks like investors were buying Walmart stock ahead of the earnings report and as practice shows, it usually leads to a drop after. As the famous rule says: “Buy rumors, sell facts”. The closest support levels are $144, $141.
If the financial results are extremely good, the stock might be pushed higher, but as it is said there is no a lot of space above (according to the RSI). The closest resistance is $153.
Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now trading within the Kumo…
Ichimoku Kinko Hyo USD/JPY: The USD/JPY pair is now trading above the Kumo…
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates? Recall that the Federal Open Market Committee had previously ended the year 2022 with a 50bps hike, and an indication from Powell, the committee chairman, that the Fed could consider raising interest rates by 75bps in the course of the year 2023.
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