RY 133.21 -0.0675% TD 78.64 0.4599% SHOP 95.75 0.136% CNR 174.55 -0.2172% ENB 46.51 1.3511% CP 115.18 -0.3375% BMO 125.12 -0.1197% TRI 207.83 -1.3153% CNQ 105.4 -0.8467% BN 52.885 -1.5544% ATD 75.13 -0.186% CSU 3670.4399 -1.1052% BNS 64.03 -0.2959% CM 64.91 0.1698% SU 52.315 0.2587% TRP 48.59 0.5796% NGT 53.03 -0.0942% WCN 226.63 -0.0838% MFC 31.51 0.2226% BCE 44.31 -0.2476%
Endeavor Group Holdings Inc.
Endeavor Group Holdings Inc. (NYSE: EDR) is a sports and entertainment conglomerate based in the United States. The company owns and runs premium sporting franchises, such as the Ultimate Fighting Championship (UFC), as well as producing and distributing sports and entertainment content. The firm also owns and operates live events, as well as representing elite sports and entertainment talent and blue-chip corporate customers. Owned Sports Properties, Events, Experiences & Rights, and Representation are the company's segments.
Key Highlights
Important financial highlights from Q1 FY22 Financial result
Stock recommendation
EDR's stock price has correct 20.17% in the past six months and is currently leaning towards the lower side of its 52-week range of USD 17.42 to USD 35.29. As can be seen in the chart below, the price is currently below both short-term (50-day) SMA and long-term (200-day) SMA, and RSI is at 58.54. Short-term SMA has in the past acted as great resistance for the price and as of now, the price is approaching the short-term SMA from below. Therefore, the price action after reaching a short-term SMA will decide the future path for the stock.
Given the stock's considerable recovery in the month of May 2022, financial results, and technical analysis, we propose a "Watch" rating on the stock at its closing price of USD 23.50, as of June 2, 2022, with further analysis after price’s reaction towards shorter-term SMA.
One Year Technical Chart, as of June 02, 2022. Data Source: REFINITIV, Analysis by Kalkine Group
Technical Analysis Summary
* Closing price as of June 02, 2022.
Investors can evaluate the stock based on the support and resistance levels provided in the report in case of keen interest taking into consideration the risk-reward scenario.
Technical Indicators Defined: -
Support: A level where-in the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest.
Resistance: A level where-in the stock prices tend to find resistance when they are rising, and the uptrend may take a pause due to profit booking or selling interest.
Stop-loss: It is a level to protect further losses in case of unfavorable movement in the stock prices.
Note 1: The reference data in this report has been partly sourced from REFINITIV.
Note 2: Investment decisions should be made depending on the investors' appetite for upside potential, risks, holding duration, and any previous holdings. Investors can consider exiting the stock if the Target Price mentioned as per the valuation has been achieved and subject to the factors discussed above.
Note 3: The report publishing date is as per the Pacific Time Zone.
Disclaimer
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