• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Investing Sell Manchester United stock ahead of earnings. Here are the technical indicators
Investing

Sell Manchester United stock ahead of earnings. Here are the technical indicators

by December 8, 2022
by December 8, 2022 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Do you love soccer, or are you a fan of Manchester United? Then probably, you consider investing in stocks of listed clubs. Manchester United plc (NYSE:MANU) is one of those equities available for trading on stock markets. But how are you conversant with this stock’s price movement?

Well, stocks of sporting organisations are heavily impacted by developments surrounding clubs. The MANU stock has particularly been boosted by reports of a potential takeover. The latest to be speculated to consider bids for the iconic club was Apple, with a price tag of up to $7 billion or £5.73 billion being considered. These speculations are expected, considering that Manchester United has already confirmed to explore strategic alternatives. A potential sale is one of the strategic moves considered.

With rumours of new ownership, MANU has soared by 67% in the past one month. At the time of publication, MANU was trading at $22, its highest since November 2018. The stock has hit a resistance, even as the company’s quarterly earnings come on December 08 after the market close. The expected EPS for the quarter is a loss of $0.12, worse than a loss of $0.11 per share in the prior year. It may, however, not matter about the results, as the acquisition developments could remain the focal point. Investors may have overbought the stock, and a correction is imminent.

MANU hits resistance amid overbought conditions

MANU Chart by TradingView

MANU is correcting after meeting resistance at $23. The resistance coincides with extremely overbought conditions, with an RSI reading of 83. In the short term, the stock could correct to $20, which could accelerate on disappointing earnings and/or outlook. 

MANU stock, what should you do?

This article finds investing in MANU unrealistic considering the high stock valuation. Further developments around the club’s acquisition could boost the stock, but we desist from recommending a buy now. Buying at a lower price offers a better risk and reward ratio.

The post Sell Manchester United stock ahead of earnings. Here are the technical indicators appeared first on Invezz.

You Might Also Like
  • Victoria’s Secret stock is up 15% on Wednesday: explore why
  • Bankman-Fried says he’s willing to testify before US House Committee
  • CarMax stock tanks to a YTD low following Q3 report: buy the dip?
  • CAC 40 index forecast after S&P cuts France’s outlook to ‘negative’
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Binance’s CZ among experts to teach crypto at MasterClass
next post
Salesforce is poorly positioned for a recession: Sophie Lund-Yates

You may also like

The 7 Most Popular Cryptocurrencies Right Now

November 29, 2024

Netflix stock is the ‘best recession play’ for 2023: Analyst

December 12, 2022

Galaxy to acquire Helios Bitcoin mining facility from Argo Blockchain

December 28, 2022

CAC 40 index forecast after S&P cuts France’s outlook to...

December 4, 2022

A Standoff over Gas Price Cap Puts on Hold EU...

November 25, 2022

Argentina win World Cup but ARG token falls 50%

December 19, 2022

Should you buy Oracle stock despite soft guidance?

December 13, 2022

Prices in France are falling, but will Eurozone inflation drop?

January 4, 2023

US home price data continues to ease; Miami sees the...

November 29, 2022

VIDEO: Forex markets – 2022 review and future predictions

December 9, 2022

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025
    • U.S. foreign tax bill sends jitters across Wall Street

      May 30, 2025
    • Amazon taps Xbox co-founder to lead new team developing ‘breakthrough’ consumer products

      May 30, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,765 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,472 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,451 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,432 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,308 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,581)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right...

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,581)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Jim Cramer on Salesforce layoffs: ‘this...

    January 4, 2023

    Carvana stock crashed another 45% on...

    December 7, 2022

    3 reasons why Apple should buy...

    November 28, 2022
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here