Earnings:
Rep: $2.41 EPS ✅ Higher Than Expected
Exp: $2.34 EPS
Revenue
Rep: $8.6B ✅ Marginally Higher Than Expected
Exp: $8.56B
6 - 12 Month Trade
A potential 29% relatively safe return for the 2024 year in this dividend paying, well performing blue-chip stock. c$2.00 per annum dividend per share .
Monthly Chart (left)
✅ Long Term Monthly Trend Intact
✅ Above 10 month moving average
Daily Chart (right)
✅Cup and Handle Breakout
✅Above 200 day aligning with diagonal support
🎯 Target 1 at $330 is where the long term and short term fib extension levels indicated overhead resistance will like be. Taking 80% of the position off the table here would be wise. The Cup and Handle tare may be reached at a much later date after a correction.
🟢ENTRY ZONE: $254
$264 would be ideal but I may enter earlier
❌STOP
The stop should be placed just under the horizontal support line at roughly $249. IF the 200 day or diagonal support is lost exit the trade. Same goes for the 10 month moving average on the long term chart.
Take a tighter stop is its a larger position.
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