Unity dropped 7.7% Q3 earnings, still got chance go bullish?
Technical speaking, the price is overall moving in a bullish market after forming a head-shoulder bottom.
It is fluctuating between a consolidation box for a short-term pullback.
However, it dropped 7.7% after releasing the earnings report, which disappointed many investors.
From a fundamental perspective, Unity Software's latest earnings report reveals that the company achieved a revenue of $447 million last quarter, representing an 18% year-over-year decline. Specifically, its game development engine segment, Create Solutions, and game advertising segment, Grow Solutions, experienced declines of 22% and 16%, respectively, indicating a significant setback in its core business.
So, will the price continue to go bullish after this pullback?
I think it might continue to go bullish if the price could break above the consolidation box later, so we could buy there.
If not, we'd better to wait for a better buy timing.
