Tesco 071020
The retailer posted better-than-expected results and outlook.
Share this:
Tesco reported first half net pretax profit up to 551 million pounds from 428 million pounds a year earlier, on sales up to 28.72 billion pounds from 28.51 billion pounds a year ago. The company added : "whilst significant uncertainties remain, we now expect retail operating profit in the current year to be at least the same level as 2019/20 on a continuing operations basis."
From a chartist point of view, the stock opened with a bullish gap and breaks above its flat 50-day MA while the RSI is now in bullish territory. Therefore, readers should consider a new upleg above 210 with 235 and then 250 as next targets.
From a chartist point of view, the stock opened with a bullish gap and breaks above its flat 50-day MA while the RSI is now in bullish territory. Therefore, readers should consider a new upleg above 210 with 235 and then 250 as next targets.
Source : TradingVIEW, Gain Capital
Tesco reported first half net pretax profit up to 551 million pounds from 428 million pounds a year earlier, on sales up to 28.72 billion pounds from 28.51 billion pounds a year ago. The company added : "whilst significant uncertainties remain, we now expect retail operating profit in the current year to be at least the same level as 2019/20 on a continuing operations basis."
From a chartist point of view, the stock opened with a bullish gap and breaks above its flat 50-day MA while the RSI is now in bullish territory. Therefore, readers should consider a new upleg above 210 with 235 and then 250 as next targets.
From a chartist point of view, the stock opened with a bullish gap and breaks above its flat 50-day MA while the RSI is now in bullish territory. Therefore, readers should consider a new upleg above 210 with 235 and then 250 as next targets.
Source : TradingVIEW, Gain Capital
Related tags:
Latest market news
The complete CFD trading experience
Award-winning platforms, competitive spreads, low commissions and dedicated support.
We live and breathe the markets and are dedicated to helping traders realise their ambitions as we continue to set the industry bar.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
S&P 500, Nasdaq, Dow Forecast: Wall Street Split Widens Into Month-End 9 26 2026
Nasdaq strength contrasts with mounting Dow pressure as rising Treasury yields raise the stakes for stocks heading into the monthly close.
EUR/USD Q4 2026 Outlook: Euro at a Crossroads as Fed, ECB Tighten 9 25 2026
EUR/USD enters Q4 at a pivotal inflection point as competing Fed-ECB policy paths and persistent inflation risks collide with major technical support.
USD/JPY Q4 2026 Outlook: Hawkish Fed Pricing Clashes With Intervention Risk
The year-end tug-of-war is clear: hawkish Fed pricing supports USD/JPY, while intervention risk limits the upside.
StoneX Europe Ltd may make third party material available on this website which may contain information included but not limited to the conditions of financial markets. The material is for information purposes only and does not contain, and should not be construed as containing, investment advice and/or investment recommendation and/or an investment research and/or an offer of or solicitation for any transactions in financial instruments; any decision to enter into a specific transaction shall be made by the client following an assessment by him/her of their situation.
StoneX Europe Ltd makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. We are not under any obligation to update any such material. Any opinion made may be personal to the author and may not reflect the opinion of StoneX Europe Ltd.