Unity dropped 7.7% Q3 earnings, still got chance go bullish?
Technical speaking, the price is overall moving in a bullish market after forming a head-shoulder bottom.
It is fluctuating between a consolidation box for a short-term pullback.
However, it dropped 7.7% after releasing the earnings report, which disappointed many investors.
From a fundamental perspective, Unity Software's latest earnings report reveals that the company achieved a revenue of $447 million last quarter, representing an 18% year-over-year decline. Specifically, its game development engine segment, Create Solutions, and game advertising segment, Grow Solutions, experienced declines of 22% and 16%, respectively, indicating a significant setback in its core business.
So, will the price continue to go bullish after this pullback?
I think it might continue to go bullish if the price could break above the consolidation box later, so we could buy there.
If not, we'd better to wait for a better buy timing.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.