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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
The following stock has been highlighted by VantagePoint Software, an artificial intelligence platform that provides market forecasts 1-3 days in advance. For a free demo click here.
VMware, Inc. (NYSE:VMW) is due to report Q2 earnings Thursday after the close, with analysts expecting the company to post earnings per share of $1.49 on revenue of $2.15 billion. Just meeting those estimates would make it the second-best quarter in the stock's history, and if that were to happen, the stock looks like it's itching to move higher according to VantagePoint's two main indicators.
The two charts below show VMW over the last three months. On the top chart, the blue line represents a predicted moving average over the next 48 hours. On the bottom chart, the blue line is a predicted moving average over the next 72 hours.
In both charts, the beginning of uptrends are shown by the blue line crossing over the black, which is a simple 10-day moving average. The gray candle is a predicted range for Thursday, and the red-green bar at the bottom of the chart is a neural index that forecasts strength or weakness in the next 1-2 days.
The top chart shows a bullish crossover of the two lines based upon Wednesday's trading action.
This second chart shows that the blue line is still above the black, tell us that this stock is in an uptrend.
Based on both of these charts, we can feel confident that the stock will breakout above its recent resistance of $155 should the company's earnings fall in line or exceed expectations. Shares of VMware closed up 1.7 percent in Wednesday's session, and opened Thursday at $154.85.
VantagePoint Software is a content partner of Benzinga. To see what their indicators say about other stocks, futures, commodities or ETFs, or to get a free demo, click here.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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