Alibaba’s stock price found enough footing near the 23.6% Fibonacci of the 147.82-179.33 upleg to surge above the 20-period simple moving average (SMA) in the four-hour chart. The rising MACD and the positive slope in the RSI, which is ready to exit the bearish territory, are encouraging signs for the market’s short-term performance. Should the 61.8% Fibonacci of 167.28 open the gate to the bulls, the 50-period SMA at 169.25 could next take control. Slightly higher, the area between 172.00 and [..]
WalMart stock pulled back from a high of 115.26 after nearly eight months of advances, piercing below the uptrend line. The downwards correction has stalled at the 100-day simple moving average (SMA) after its push lower off 108.36, which is the 23.6% Fibonacci retracement level of the up leg from 86.07 to 115.26. It’s worth mentioning that the 20-day SMA has crossed below the 40-day SMA, signaling that the short-term bearish bias seems to be holding. The momentum indicators are [..]
The world’s leading entertainment conglomerate will release its latest earnings report on Tuesday, after Wall Street’s closing bell. Beyond any surprises in the numbers, market focus will fall mainly on the expectations by Disney’s management about the firm’s soon-to-be-launched streaming service. Overall, the company’s future remains bright – something also reflected by the 29% gain in its stock this year – though its high valuation poses a risk. The entertainment colossus is expected to report earnings per share (EPS) of [..]
General Motors stock has stuck to the upper Bollinger band on its stretch north, peaking its head above the band, hauling the price of the stock above previous peaks from February 6 and April 18. Although the price has formed a spinning top candle and sellers have pushed lower, it’s worth mentioning that the 40-day simple moving average has crossed above the 100-day SMA, signaling that the bullish advance seems to be holding. The MACD is in the positive region [..]
Apple’s stock lost steam in the last sessions, after a nearly two-month rally from the low of 170.17 on June 3. The pair formed a hanging man formation followed by a close lower and then a shooting star. The bulls seem to have lost control and momentum indicators also warn of a possible short-term down move. Although the price is above the Ichimoku cloud and simple moving averages (SMAs), momentum has paused as the Ichimoku averages have moved sideways, while [..]
Twitter stock lunged up out of a trading range that lasted around nine months, trying to fill the gap from July 26 of 2018. The move had price hit a nine-and-a-half month high of 40.90 to only fall back into a two-and-a half month sideways market, where the price is currently shaking hands with the upper boundary. Price has printed a red candle, besides a bullish cross up of the 40-day simple moving average (SMA) by the 20-day SMA. Helping [..]
Jeff Bezos’s famous Amazon.com will be among the highlights this week as the world’s second most valuable company by market capitalization is expected to report its Q2 financial results on Thursday after Wall Street’s closing bell. After a stellar start to 2019, the tech-giant is anticipated to set the bar higher, but pitfalls could still lie ahead, making markets wonder whether Amazon’s stock price could search for new record highs. Earnings forecast Total revenues are expected to have jumped to $62.46bn in the [..]
Facebook stock price is hovering around the one-year high of 205.40 but it is holding well above the 50- and 200-day simple moving averages (SMAs). Momentum indicators are looking to lose steam as the MACD fell beneath the trigger line and the RSI is flattening in the positive territory, suggesting a downside correction. An advance could stop at the multi-month high of 218.44, taken from the peak on July 25, before posting a fresh all-time high. A downside structure in the [..]
McDonalds stock price hit a record high of 215.85 last Thursday, meeting the upper boundary of the long-term ascending channel in the daily timeframe. The 20-day simple moving average (SMA) helped the bulls to retake control, while the positive momentum in the RSI suggests the bullish party is not over yet for the stock. However, the MACD oscillator is slowing down below the trigger line. The peak at 215.86 could potentially work as nearby resistance should the price continue the rebound on 206.35. Nevertheless, it would [..]
Amazon pulled away from a nine-month high of 2032 in the previous weeks, to halt yesterday at the 23.6% Fibonacci retracement level of the up move, from 1670 to 2032, of 1949. The 21-day simple moving average (SMA) is also very close and a hammer formation has taken shape, pushing the price above the resistance of 1964. The momentum indicators are suggesting that the sentiment may turn negative as the MACD has dived below its trigger line and RSI nears [..]
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