Send me real-time posts from this site at my email
Fan Yang

TiVo Corporation (TIVO) Rallies on Earnings, But Critical Resistance Just Ahead at $9.00

TiVo $TIVO closed the 7/31 session trading around $7.58. It will open the 8/1 session most likely above $8.00. It jumped to $8.25 in after hour trading. 

Here's a snippet from Yahoo Finance:

TiVo (TIVO) Beats Q2 Earnings and Revenue Estimates

TiVo (TIVO) came out with quarterly earnings of $0.25 per share, beating the Zacks Consensus Estimate of $0.19 per share. This compares to earnings of $0.17 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 31.58%. A quarter ago, it was expected that this digital video recording company would post earnings of $0.19 per share when it actually produced earnings of $0.08, delivering a surprise of -57.89%.

Over the last four quarters, the company has surpassed consensus EPS estimates just once.

...


TIVO been consolidating after a long-winded bearish trend. after a crash in 2011 into 2012, price has been trading sideways with a bearish tilt. We can say the market has been bearish-neutral, with an emphasis on the bearish.

TIVO Weekly Chart

(click to enlarge)

No Sign of Life:
- As we can see on the weekly chart, the market is essentially still bearish. 
- The recent consolidation is a blip in long-term bearish market.
- Thus, I wouldn't get too excited about this bullish jump. 
- Whatever the reason for this sudden demand, it will be against the trend. 
- On the daily chart, we can see that if price approaches $9.00, TIVO will be facing a previous support area, which will likely become resistance in a bearish market.
- There is also a falling resistance around $9.00, reinforced by the 200-day simple moving average (SMA) just above. 


TIVO Daily Chart

(click to enlarge)

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue