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      10/06/21 10:53

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    Joined 07/10/22 09:46
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    • While Q3 earnings beat expectations, revenue missed forecasts and the company issued a warning for the full-year.      Jeremy Naylor | Writer, London | Publication date: Friday 07 October 2022  Earnings Despite third quarter (Q3) earnings at Levi Strauss beating expectations, revenue missed forecasts and the company issued a warning for the full-year (FY). The stock will fall 5% at the open today after having fallen 4% during yesterday’s trade. Video Transcript Levi shares fall Levi Strauss shares fell 5% in extended trade last night after the group cut its full-year profit forecasts. This is on top of the 4% drop during normal hours. Levi Strauss posted earnings of $0.40 a share for the third quarter, $0.03 higher than consensus. Revenue missed expectations, though, as the denim maker has to deal with softening demand. The strengthening dollar and persisting supply chain issues, with inflation at decade highs across the globe and a looming recession, consumers are moving away from these higher priced products and clothes generally to essentials such as food and energy. The strengthening dollar is also affecting Levi Strauss' margins, down 60 basis points compared with this time last year at 56.9%. The company now expects full-year 2022 adjusted profit of between $1.44 and $1.49 per share compared to prior forecasts of $1.50 to $1.56. Now you can see during the session yesterday we saw this 4.0% drop. Add to that a 5% drop when we see shares opened today and you're in this area down here challenging the 1500 level. So, we're watching that stock at the start of the day's trade after the outlook disappointed investors.
    • More Federal Reserve (Fed) members have come out nailing their hawkish colours to the mast, indicating that only when inflation is showing firm evidence of stabilising will the Fed start to rein back their aggressive attitude to rate rises. IGTV’s Jeremy Naylor looks at the US dollar.        
    • Gold and wheat fall back as oil continues on an upward course While oil prices are still heading higher, wheat and gold have fallen back. Source: Bloomberg  Chris Beauchamp | Chief Market Analyst, London | Publication date: Friday 07 October 2022  Gold falters as late September bounce fades The price has reversed from the 50-day simple moving average (SMA), with the potential forming for a fresh leg lower. The bounce from the September lows faltered at $1725, putting a move back to $1685 into view. Below this the lows from September would come into play, down towards $1630. It would require a reversal back above $1725 to suggest that a fresh bounce is underway. Source: ProRealTime WTI clambers above 50-day MA The bounce from the September lower low has now pushed on past the 50-day SMA, putting the price above this level for the first time since late June. Gains in September stalled at $89, so a move above here would help to reinforce the bullish view. It would then put the 200-day SMA at $97.06 into play as the next target, coinciding closely with the highs from late August at $97.30. Should the price reverse from current levels then a lower high would arguably be created, or at least an interim double-top formation around $89, which might then suggest a reversal back to $76.50 is in progress. Source: ProRealTime Wheat tests trendline support Wheat has been on a steadily-rising trend from its August low, although it is testing rising trendline support at present with its drop back to 890. If this marks a trendline break then 874 and 825 come into view as possible support. Before 825, the price may encounter support at the rising 50-day SMA (currently 838). A rebound back above 900 revives the uptrend and puts last week’s highs around 930 into play as an upside target, along with the 200-day SMA (currently 930).
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