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2021-04-28 • Updated
Two stock giants – Microsoft and Google – have published earnings reports for the first quarter of 2021. Both reports are better than expected! Google was expected to deliver $15.45 earnings per share, the actual data was way better: $26.29. The market forecast for Microsoft was $1.76, and the tech giant beat that estimate with $1.95. Google gained from ad sales and internet search. Microsoft mostly benefited from the cloud-computing product, Azure and big gains for Xbox helped as well.
By the way, the stock market is open from 16:30 to 23:00 MT (GMT+3).
More details about stock trading, you’ll find in the article “Improvements in the Conditions of US Stock Trading”)
Since the earnings data was great, the stocks are likely to rise. However, Google has more chances than Microsoft. Google’s data pleasantly surprised investors with such a big increase, while Microsoft data wasn’t so good. Yes, it was better than the forecast, but not so much.
To get more tips about trading stocks, read our special guide “How to trade on earnings reports?”
Microsoft hit an all-time high yesterday, breaking above $260.00. Therefore, the way up to the next round number of $270.00 is open. However, the RSI indicator is just below the 70.00 level. Once it breaks above this level, the stock becomes overbought and the reverse down may occur. Thus, be aware of the support levels at the low of April 14 at $255 and the psychological mark of $250. If the stock price goes down, it is likely to stop ahead of these levels rather than break out them.
Google may rise to the next round number of $2400 on encouraging data. The RSI indicator reversed yesterday from 70.00, thus there’s some room for the price to rise. When the price breaks $2400, the way up to the next psychological mark of $2500 will be open. Support levels are at the recent low of $2250 and the 50-day moving average of $2140.
Don't know how to trade stocks? Here are some simple steps.
The past two years have seen the biggest swings in oil prices in 14 years, which have baffled markets, investors, and traders due to geopolitical tensions and the shift towards clean energy.
After months of pressure from the White House, Saudi Arabia relented and agreed with other OPEC+ members to increase production.
More and more analysts are sure Brent oil will surpass $100 a barrel. So how heavily will oil move the markets, and what will the direction of the movement be? Let's find out!
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD
The US dollar index has all chances of reaching the 2000s high of 120.00.
The Consumer Price Index announcement by Statistics Canada is set for release in a few hours will reveal the state of inflation in the Canadian economy
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