EA Trade on Jul 31, 2019 14:42 from Cklamb: Tradervue User Stock Trades.

EA
EA
Intraday Fundamentals
05:05 AM EDT, 07/31/2019 (MT Newswires) -- Electronic Arts (EA), the second-largest gaming company in the Americas and Europe by revenue, reported late on Tuesday a jump in first-quarter sales and earnings, with operating results above internal expectations.
Total net revenue increased to $1.21 billion during the three months that ended June 30, from $1.14 billion a year earlier, the Redwood City, California-headquartered company said in its earnings statement.
Group turnover advanced as FIFA Ultimate Team had more than three million players logging in daily during the 'Team of the Season' in-game event in the quarter. It further noted that The Sims 4 expansion packs and game pack downloads increased by 55% year-over-year.
Earnings of $4.75 per share, which includes the occurrence of three separate tax-related events in the first quarter, were also up from $0.95 per share a year earlier.
Electronic Arts said that it completed an internal transfer of some of its intellectual property rights to its Swiss subsidiary, a legal ruling required the company to record a tax accrual and the passing of a referendum in Switzerland, where its international business is headquartered, would change Swiss income tax rates once enacted.
As a result of these events, the company said that it expects to recognize an income tax benefit of $1.70 billion, or $5.61 of earnings per share, during the fiscal year ending March 31, 2020. It said that it recognized $1.08 billion of this income tax benefit during the three months ended June 30, 2019 and expected to recognize the remaining $620 million once the referendum was enacted, which it said it expects during the three months ending September 30, 2019.
"We delivered operating results significantly above our expectations, driven by broad strength across our core franchises. This quarter shows how the power of our portfolio strategy, combined with live services, delivers strong results," Blake Jorgensen, chief operating officer of Electronic Arts, said. "We believe we have the right ingredients in place to deliver fun for our players and success for our business."
Looking ahead to the fiscal full-year 2020, the company is targeting earnings of about $9.22 per share, with about $5.61 of which is related to the income-tax benefit. That compares with a $4.52 per share average analyst estimate compiled by Yahoo Finance. Total net revenue is seen at about $5.38 billion, which is above the $5.17 billion market consensus.
Technicals
ADV 4 M RVOL 1.4 ATR 2.51 BETA .99 Short 3.32% Inst Own 98.90%
Daily

Trading plan
VWAP support for a long if it holds this in the opening
Consider a long at 92 as that appears that will be s2 at the opening print
Long on a break of the PM of 94.79
Reading the tape
I watched this trying to catch a bounce off 95. I really do not have a lot skill here. I did not see anything that led me to believe that I should not put on this trade.
I did not see much to add anything to my confidence when I decided to scalp off of S2.
I watched intently as I was working the set up to play off 92. The initial jump off of 92.06 was fast. The bids slowed around 92.30 and look to break the micro trend. It held in this .30 area for a bit and moved forward. It fell back to here and started to hold again.
Trade Management

Notes
• I cannot say for sure, but Powell’s speech may have a lot to do with this stopping out
• I was watching the 3 minute. The one minute set up for a micro trend break scalp that did not show on the 3 minute

Aspect Score Poss. Notes
Preparation 8 10 I set this up and waited for it for keep me at about 30 cents risk
Hard Work 8 10 Yes.. this took me some time to set up for a good RvR after missing the bounce
Patience 8 10 YES..SEE ABOVE
Plan 8 10 Long to 93
Discipline 8 10 YES, limit in and held for hold of 92
Contribution NA 10

Replay 0 10