The market sentiment is risk-on on Tuesday. The US dollar dipped, while risky assets are rallying up. Jump in to get fresh trade ideas!
Walmart reported strong earnings. Should you buy it now?
Walmart, the giant retail shop in the USA, has published better-than-expected earnings results for the first quarter of 2021. Earnings per share came out $1.69, while the forecast was $1.21, revenue surpassed expectations as well: $138.3 billion vs the anticipated $132.21 billion. Besides, the company revealed strong grocery sales and e-commerce growth and upgraded its outlook for the year. Seems everything perfect! Walmart's Chief Financial Officer claimed that the company is experiencing “pent-up demand” and forecasts it to continue.
Walmart is likely to surge above the $140 resistance due to the encouraging earnings data. This breakout will drive the stock price further up to the high of May 3 at $143.00. Support levels are at the low of May 13 at $135.80 and the low of March 24 at $133.00.
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What's moving markets on Friday? Read in the fresh report!
Let's see how the stock price of these four companies reacted to their earnings reports released this week.
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Optimistic forecasts on oil prices, nuclear talks with Iran, and upcoming OPEC+ meeting. How to trade oil these days?
Good news for FBS Traders! Top UK stocks have been just added to our platforms: MetaTrader 5 and FBS Trader App.