This is a gaming company that has lasted the test of time to the point that they have become the Mecca of the gaming world tbh. They are here to stay and are still competing well in a highly competitive industry!
Looking over their financials, I like how the gross profit is increasing consistently since 2017. COGS has stayed stable. Steady increase in Net Income. Steady EPS increase. Steady Asset increase. Total current assets jumped this past year tremendously and has outweighed the increase in non current liabilities. Steady increase in total equity. Not too worried about debt increase due to this. Steady free cashflow growth. Increase in the last 2 years in changes in working capital. P/E Ratio decreasing over time. Valuation Ratios and Profitability Ratios are improving as a whole.
Chart Analysis:
Daily: MACD and RSI oversold. Possible support traced.
4 Hour: Same as Daily TF
1 Hour: Same as Daily TF
15 Min: New low was made. Entered consolidation. Turned into previous being broken. Possible retracement ready? Need to see MACD and RSI oversold before final decision.
Price consolidated between $64 - $81 between September’20 and July ‘21. It broke out towards a downtrend and is finding support IMO on the 15 min TF. If it finds solid ground as it looks like it has potential to do, we could a possible retracement.
*not advice
*just sharing an idea
Looking over their financials, I like how the gross profit is increasing consistently since 2017. COGS has stayed stable. Steady increase in Net Income. Steady EPS increase. Steady Asset increase. Total current assets jumped this past year tremendously and has outweighed the increase in non current liabilities. Steady increase in total equity. Not too worried about debt increase due to this. Steady free cashflow growth. Increase in the last 2 years in changes in working capital. P/E Ratio decreasing over time. Valuation Ratios and Profitability Ratios are improving as a whole.
Chart Analysis:
Daily: MACD and RSI oversold. Possible support traced.
4 Hour: Same as Daily TF
1 Hour: Same as Daily TF
15 Min: New low was made. Entered consolidation. Turned into previous being broken. Possible retracement ready? Need to see MACD and RSI oversold before final decision.
Price consolidated between $64 - $81 between September’20 and July ‘21. It broke out towards a downtrend and is finding support IMO on the 15 min TF. If it finds solid ground as it looks like it has potential to do, we could a possible retracement.
*not advice
*just sharing an idea