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US indices launched the session higher
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Russell 2000 makes a break above 50-session moving average
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DocuSign and Zscaler jump after earnings release
Indices from Wall Street launched the final trading session of the week higher. Tech-heavy Nasdaq outperforms at the beginning of the US trading session with a gain of around 0.9%. S&P 500 and Dow Jones launched trading around 0.6% higher. Today's risk rally is accompanied with a pullback on the USD market as traders assess the outlook for how much central banks may tighten their policies.
Small-cap Russell 2000 (US2000) extends recovery move launched after a test of the support zone marked with 61.8% retracement of recent upward impulse. Index is making a break above the 50-session moving average today, that was a swing level in the past. Breaking above this moving average may pave the way for a test of the next resistance in line - 1,920 pts price zone. This area is marked with previous price reactions. Note that a key 200-session moving average (purple line) can be found slightly above it. Source: xStation5
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Shares of DocuSign (DOCU.US) trade higher with the rally being fueled by solid fiscal-Q2 results (calendar May-July quarter). Company reported adjusted EPS at $0.44 (exp. $0.42) with revenu increasing 22% YoY to $622.2 million (exp. $602.7 million). Beat in revenue was driven by better-than-expected subscription revenue. Billings increased 8.8% YoY to $647.7 million (exp. $602.9 million). Company boosted billings forecast for fiscal-2023 from $2.52-2.54 billion to $2.55-2.57 billion. Revenue forecast was left unchanged at $2.47-2.48 billion.
Zscaler (ZS.US), US security software company, rallies following a release of upbeat results for fiscal-Q4 2022 (calendar May-July quarter). Company reported a 78.5% YoY jump in adjusted EPS, to $0.25 (exp. $0.21). Revenue increased 61% YoY, to $318.1 million (exp. $305.7 million). Deferred revenue increased 62% YoY to $1.02 billion (exp. $0.98 billion). Company provided solid guidance for fiscal-2023 (August 2022 - July 2023), expecting adjusted EPS to reach $1.16-1.18 (exp. $1.06) and revenue to reach $1.49-1.50 billion (exp. $1.51 billion).
T-Mobile US (TMUS.US) trades slightly higher today. Company's board approved a $14 billion share repurchase program. Purchases are expected to be made through September 30, 2023.
Shares of Zscaler (ZS.US) launched today's trading with an over-13% bullish price gap and continued to gained in the first minutes of trade. Stock is closing in on a resistance zone marked with the 23.6% retracement that halted previous upward impulse. However, a key resistance to watch can be found slightly above this zone at $195 mark, where the upper limit of local market geometry can be found. Source: xStation5
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