On Wednesday (24/8), KLX Inc. is going to post its earnings results for the quarter ending on July 31, 2016 . Market expects the aerospace and defense company to post earnings of $0.46 per share, down 19.30% from $0.57 earnings per share for the same quarter last year. However, according to Zacks Investment Research reports, the 2017 price to earnings ratio for KLX Inc. is 19.27, higher than the average reading of 16.30 for the industry. This suggested Zacks’s brightening outlook for the firm’s earnings growth compared with other competitors in the same industry. As a result, the stock hovered around a high area and settling at 36.92 after a quite strong upbeat.
Fig. KLX H1 Technical Chart
On the hourly chart, the price is moving sideways after hitting the resistance at 37.27, formed on August 23rd. RSI (14) edged up to 61.9146, suggesting that the bullish trend is still stronger. The moving average continued to move under the price chart, which consolidated a solid up move. The stock is likely to go up further, breaking through the current resistance is supposed to be happen.
Analyses of Group Fiinvesting
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