hello folks welcome to this video on te investor today I wanted to quickly make a video on abos earnings and uh its effect on the price where could the stock go is it going to go more downside or upside as we saw in the market today today the whole Market fell down after the earnings report or after the jobs report uh the jobs report came at 142,000 jobs and the unemployment rate was still at 4.2 so it was not a good indicator maybe for the interest rates cut so that's why it when it does stock market punish the punish the market I believe I think so uh so let's see how that works out uh having said that AFCO according to me gave a spectacular earnings they reported 13.07 to billion uh for this period which is up 47% up and also their non-gaap EPS earnings per share was 1.24 uh which is but unless Expectations by margins and then their Abid was about 63% of their revenue and also what the most important thing was the AI revenue for the whole 2024 is expected to be at 12 billion and also as most of us know that they had acquired VMware and this acquisition has turned out to be very very profitable uh which could turn the aidda into 64% 64% of their revenue in the coming quarter right and also the projected revenue for the next quarter is 14 B million which is 51% of this period that's incredible isn't it but having said that even with this spectacular kind of Revenue the algo couldn't get the stock price moving up though it fell along with the market in fact it closed at 152 uh the the day prior and before the earnings and then it today it closed at around 130 it went to a low of 13660 and closed at around 137 so let's quickly look at the charts and see where the price could head head further uh in the coming week all right here we have a daily chart of asgo uh and we see that today it was yesterday as I said it closed at around 15282 and it today we saw the closing at 136 does it mean that we are at the bottom or we going to see more downside that's the question everyone ask but before we get there one thing I wanted I always talk about the three- wve correction here the first wave formed here from a high of 17242 and then it fell to went to a high of 16324 that is at 62.5 it gave up the whole thing and today it is at 25% retracement so where could it go so that is the question we have all of us have right so the first Target for me looks like this red line which is drawn between the previous higher uh retracement and the higher wave right so that is showing us like around 154 156 that's what we are looking at so 156 could be the first Target and then if it crosses that then we might see the next one is 163 so that's what I'm looking for so definitely it could take some time but we could see the going faster to this uh uh EMA 821 cloud 15224 and the 154 pretty soon but the next Target 161 let's see if it can get there okay so that's what I wanted to share with you folks so but uh on an overall uh it is still very a downtrend if you see that it is forming lower highs if you see here this was the alltime high and we are not seeing again we are seeing lower highs you see there's another lower high as long as we can draw this downtrend lines that means we are going trending low so Alco definitely seems to be trending low so it we just have to see how far it means it can go down Okay so other way to look at it is if you can see if it is trending high or low is is this line uh if if it can fall if it can get out of this wedge then and if it can touch this line which is around 13207 uh that is a line that we looking at but if it can touch the line and then it can go back and cross this wedge then we can think of it could be an uptrend but I don't see that happening yet so we might see a little bit of a move up so from there we should be able to get down okay so definitely folk the first Target would be around 154 area that's where we are looking at so that could happen this week 154 could be the first Target and from there we could see more downside here okay so that's all I wanted to share with you folks so once we see this downside we can go above above to the higher than this at 179 that's all I have today to share folks I'll catch you in the next one