What is the outlook for SSS, SSR, and FFOPS in the upcoming quarters?

Fundamental outlook

The 2Q‑25 results show that Allos’ three core operating pillars are still on a strong growth trajectory: SSS (+7.1 % YoY), SSR (+7.7 %) and FFOPS (+9 %). The double‑digit expansion in FFOPS (Food‑&‑Fun‑On‑Premise Services) signals a maturing ancillary‑revenue engine that is less cyclical than the core “Shopping & Services” (SSS) and “Streaming & Retail” (SSR) segments. Assuming the same macro‑environment—stable consumer spending in Brazil, continued digital‑adoption, and a supportive credit environment—Allos is likely to sustain mid‑single‑digit growth in SSS and SSR and keep FFOPS in the high‑single‑digit range for the next two quarters. The company’s 45 % ownership stake in its platform assets also provides a buffer for margin expansion as the cost‑to‑serve ratio continues to compress.

Technical and market dynamics

From a chart perspective, ALOS3 has been trading in a tight 5‑day range around the 30‑day moving average (MA30) since the 2Q‑25 release, indicating a consolidation phase. The next breakout point is the 20‑day MA, which is currently 2 % above the current price. A bullish crossover (MA20 crossing above MA50) on the weekly chart would likely trigger a short‑term rally, while a failure to break above the 20‑day MA could keep the stock in a sideways pattern. Volume has been above its 30‑day average, suggesting that market participants are still positioning for the upside.

Actionable trading implications

• Short‑term (next 4–6 weeks): Look for a technical breakout above the 20‑day MA on higher-than‑average volume. A clean close above this level could be a buying signal, targeting a 8–10 % upside as the market prices in the continued FFOPS acceleration.
  
• Medium‑term (next 2–3 quarters): Maintain a long‑biased stance on ALOS3, with a primary focus on the FFOPS segment. Anticipate incremental earnings upgrades of 0.5–1 % per quarter, which should support a 12‑month price target in the 12–14 % range above the current level.
  
• Risk management: The primary downside risk is a slowdown in consumer credit or a macro‑shock that could dampen SSS/SSR growth. Set a stop‑loss around 5 % below the breakout level to protect against a sudden re‑entry into the consolidation zone.
  

Overall, the fundamentals are solid, the technical setup is primed for a breakout, and the upside potential—driven by sustained mid‑single‑digit growth in SSS/SSR and high‑single‑digit expansion in FFOPS—justifies a moderate‑to‑high bullish bias for the upcoming quarters.