Rise in Ralph Lauren Corp.'s earnings. Stock idea for 14/02/2024

BATS:RL   Ralph Lauren Corporation
Following the close of the Q3 2024 financial year (ended on 30 December 2023), renowned clothing brand Ralph Lauren Corp. announced a notable 6% year-on-year increase in quarterly revenue, reaching 1.93 billion USD. This impressive performance enabled the company to elevate its adjusted earnings by 24% year-on-year to 275 million USD, or 4.17 USD per share.

These figures significantly exceed the modest forecasts of Wall Street analysts, who had projected earnings to rise to 3.54 USD per share on revenue of approximately 1.87 billion USD.

This is why we are looking at the Ralph Lauren Corp. (NYSE: RL) stock chart today.

On the D1 timeframe, support has formed at 146.00, with resistance at 178.32. A fairly wide channel has developed between the levels within the uptrend. Resistance may be broken through with high probability, potentially leading to the quotes surging to update the historical maximum.

On the H1 timeframe, a breakthrough of the 178.32 level could set a short-term target for a price increase at 192.25, while in the medium term, it could hover around 220.75.

Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.

The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.