The Long Investor
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$EL - EARNINGS JUST RELEASED -
🕑 Added 2025-05-01 10:14:40 +0000 UTC$EL ER was not particularly exciting and reiterated their concerns that they continue to be on a difficult road.
Price managed to hold on the last Fib support level on the 0.887 Fib at $50 leading into earnings, price was also moving towards the channel breakout level, which has been in place since 2021.
PM is up +7% now and the price is at the breakout level at $64 now.
We will need to see whether or not the disappointing earnings is now factored in.
Losing the $50 level and the next support is the 2009 GFC low at $9-$10.
I think the best case scenario here for $EL will be some consolidation sideways, and stop the declining sales before this could be considered a buy right now.
Comments
DiegoTheSabre17
Hey cap, I am genuinely confused. Why do you like EL over ELF?
