Rocketman

Tech For Finance: SS&C Technologies (SSNC) - Past Res Future Sup

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NASDAQ:SSNC   SS&C Technologies Holdings, Inc
SSNC is a software company for financial companies with a good balance sheet . It did not beat its recent earnings estimates; however, despite this event, the company still looks poised for more growth. Regardless of whether it beats expectations next quarter, this company is still stable financially and the long-term, technical, trend is there. The recent fall from its highs from $67ish to $54ish was met with institutional buying at previous levels of support.

Given the recent macroeconomic thrust of the company, the long-term trend and the technical picture of "Past Resistance; Future Support," I believe that the stock has room for a burst up to $80 or $100 in the coming months ahead; hopefully, by the end of 2019.
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Comment: SSNC had a solid win in earnings. The SS&C CEO Bill stone was even "pleased" with 'the company's profitable revenue growth this quarter;' however, the company lowered its fiscal guidance for 2019, which sent some short-timers bailing out.

When we find out the reason for this lowered guidance, we see that it is caused by headwinds that the CEO sees in the industry: "lower trading volumes and slowing M&A activity -- are negatively impacting its acquired businesses and core financial services offerings," according to Steve Symington of The Motley Fool (July 31, 2019).

Yet, given the FED lowering interest rates today on July 31, 2019, by a quarter point to about 2.25%, we see that the tighten phase of the FED has ended for now. This ought to give some relief to the markets and the US economy during this time of the ongoing trade war between the USA and China.

There is nothing to do here, but wait and see.

Technically, the stock of SSNC completed an double-wave retracement. It is at this potential inflection point where I await for bargain hunters to step in.
Comment:
Comment: Fed's Powell: ‘Economy Is Actually Performing Pretty Well … That’s Monetary Policy Working.’
Comment: The company's second-quarter earnings beat Wall Street forecasts; however, the lower sales and earnings guidance has upset some investors. Yet, the lowered FED interest rates may give some relief. This is not a time to panic. This is a time to just wait and see.
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