📟📈 PURE STORAGE ANALYSIS
1
Pure Storage reported 2nd Quarter July 2021 earnings of $0.16 per share on revenue of $496.8 million. The consensus earnings estimate was $0.05 per share on revenue of $469.5 million. Revenue grew 23.1% on a year-over-year basis.
The company said it expects third quarter revenue of approximately $530.0 million and fiscal 2022 revenue of approximately $2.04 billion. The current consensus revenue estimate is $495.15 million for the quarter ending October 31, 2021 and revenue of $1.96 billion for the year ending January 31, 2022..
2
On 26.08.2021 the Pure Storage stock formed a consolidation area ranging from $24.99 - $23.29.
WHAT DO I EXPECT NEXT?
3
I can imagine that Pure Storage will consolidate within the range and might break out when the entire market has strength. As soon as the stock goes above $24.99 with high volume, it might make sense to buy the stock. When the stock price goes below $23.29 the trading scenario is invalid.
What are your thoughts? Leave a comment down below 👇
