TAL Stock Prepares for Quarter Results

TAL stock price defended $5.00 and recovered 25% from the swing low.
TAL Education (NYSE: TAL) will release quarterly results on April 27, 2023.
TAL Education stock is attempting to break the 50 and 200-day EMAs.

TAL stock prepares price showed a minor recovery of 25% approximately from the recent swing low of $5.26. TAL stock price may be forming a double-bottom reversal pattern. However, a trend reversal will come when buyers succeed in breaking the neckline hurdle.

TAL Education Group (NYSE: TAL) is expected to release Feb 23 quarter earnings on April 27, 2023. Market analysts estimate EPS at $-0.05 and Revenue of $251.065 Million. If the results are disappointing, it could concern long-term investors.

TAL stock price closed the previous session at $6.50 with an intraday rise of 6.21%. Market capitalization stands at $3.26 Billion. At the beginning of March, the TAL stock price attempted to break the $8.00 hurdle but got rejected. Therefore, $8.00 will be a substantial hurdle in the coming months. Slow and steady, TAL stock begins to decline by forming lower lows. It dropped below both the EMAs, disturbing investors’ sentiment and inviting further decline.

Will TAL Chart Turn Bullish?

NYSE: TAL daily chart by TradingView

TAL stock price downfall halted near $5.00 and formed a bullish hammer candle. TAL stock witnessed a spike in the selling volume, but buyers closed the price above $6.00. It shows selling pressure is absorbed. Later, prices recovered and tried to regain the EMAs.

The TAL stock price is in a narrow range between $6.00 to $6.50, which is likely to break the upside. However, If overall market sentiment turns bearish, it may be negatively affected. The technical analysis suggests TAL stock price shows initial signs of a bullish trend reversal. If buyers break out of the 200-day EMA, we may see an $8.00 level quickly.

TAL Stock: Technical outlook

TAL stock price is in a downtrend, and if the price gets rejected from EMA, then prices will enter wide-range consolidation. TAL stock prepares to react in quarterly earnings, and a sharp up-move or down-move is expected. The technical indicators, like the MACD curve, are reversing upward, and the histogram bar is rising. It indicates mild bullishness, and the price may show upside momentum. The RSI at 51, sloping upward, could tell the resurgence of a bullish trend.

Conclusion

TAL stock price defended the $5.00 support level and recovered from the swing low. TAL Education Group (NYSE: TAL) is expected to release its quarterly earnings next week. If the company succeeds in meeting the estimates, then a positive momentum in the stock could be recorded soon. Else, it is expected to consolidate in a wide range.

Technical levels

Resistance levels: $8.34 and $10.48

Support levels: $5.00 and $3.00

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing