EPAM Systems, Inc. (NYSE: NYSE:EPAM ), a leading digital transformation services and product engineering company, announced its results for the first quarter of 2024, which were down 3.8% year-over-year. The company's CEO and President, Arkadiy Dobkin, stated that the company's solid performance in the first quarter reflects its adaptability to a challenging...
Hi treders!
Let´s have a look at the EPAM data anaysis.
Epam is in the increasing zone.
To enter the long position wait for the price to retest the upsloping support line which would be our entry for the long position.
Targets and trends line are indicated on the chart.
Good luck!
The selling pressure is strong with EPAM and it is currently at resistance. To complete its corrective structure and bottom it will likely do the following (black trajectory):
- Drop to 155-175 range pre earnings (8/3)
- bounce to 200 post earnings
- if rejected at 200 it will completed final leg down to 63-93 range and begin accumulation there.
Goal target 93...
A large falling wedge with a smaller falling wedge inside of it
Interesting pattern
This is an update to my last EPAM analysis as price broke down instead of hodling the trend line
I think a recovery can ensue following the large falling wedge
Price is below the support line. This line is now resistance.
Oversold. A security can remain overbought or oversold for extended periods of time.
You can use money if you buy and sell using overbought/oversold status alone.
No recommendation.
Price is below the bands.
A bullish Megaphone or an Ascending Broadening Wedge.
This is a bullish pattern, hence the bullish bars pattern in white.
I have included lower levels along the white lines incase a breakdown occurs and support needs to be found.
Horizontal trading channel that is neutral pattern until broken.
The top line is resistance and the bottom line is support.
No recommendation.
Short interest is around 1.5%.
EPS (FWD)
10.64
PE (FWD)
34.58
Div Rate (TTM)
-
Yield (TTM)
-
Short Interest
1.52%
Market Cap
$21.16B
EPAM Systems, Inc. provides digital platform engineering and software development...
Neutral until broken.
This stock has pulled back significantly from the ATH, but was possibly overvalued at that level so I will not compare.
The past few years after Covid and before the nwere market trend, was unusual perhaps and many stocks were probably overvalued due to unrelenting bullishness that may have been caused by free money and maybe even boredom...
Key Support line not far below price.
If price breaks this support line I will re-evaluate as I am watching this one.
Otherwise it could bounce around inside the channel for a while.
The bands are not contracting like they did the last time EPAM neared the support line, then broke to the upside until it hit the resistance line. It takes a lot for bands sets on...
Historically this is a very high RSI and we are near GANN resistance and the shape with gap is resembling a false bull flag as well.
Strategy is SELL current 435-445 range and take profit @ 390-395 for now.
This stock is quite overbought, and as one can observe clearly, it is high into the BB and also RSI is quite high from a historical perspective.
Strategy SELL current 435-445 and place profit order @ 388 for now. One can also buy a PUT option with a strike price 410 for example :)
The PEAD projected a Bullish outlook for $EPAM after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 42.86%.
The up strongest up channel can be drawn with a formation that formed very early (2012)
Red horizontal lines are top points along the up channel
We currently just experienced a top point along this channel and price is falling from its touch
I have placed a green box where I think price will recover on this Weekly timeframe
This structure formed after a move to the downside.
Pennants tend to narrow at the apex like a rising wedge, except a rising wedge has both trendlines sloping up and this is shaped more like an Ascending Triangle. It could be an ascending triangle but just hard to fathom in this market. Ascending triangles do not usually have a pole but who knows??
This...
