Long Term, Momentum Factor Opportunity. There is potential for a further share price advance following the company recently exceeding Wall Street's estimates on a both a revenue and earnings per share basis as well as raising guidance. The strong results also raises the potential for analyst ratings revisions. From a technical standpoint, the share price rallied sharply, suggesting a positive reception from the market. Subsequently, the share has held it's range highs, consolidating from 19 July to present. While a minor retracement always remains possible, the tight consolidation below the medium term downward trend line has a high probability of being breached. This would open the potential for a test of a prior swing highs above $550. Time Stop: 01 March 2024
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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.