The US 100 stock index (cash) enjoyed a very powerful rebound in recent weeks, posting higher highs and higher lows above an upside support line drawn from the March lows, and is now approaching its all-time high of 9,751. Adding credence to the improving technical picture, the 50-day simple moving average (SMA) just crossed back above the 200-day one, forming a so-called ‘golden cross’. Short term oscillators are on board with a mostly positive outlook. The RSI – already above [..]
Facebook stock opened at fresh record highs on Wednesday and ran as high as 231.24, successfully recovering February’s virus-led downtrend that bottomed at a 14-month low in mid-March. The short-term bias is now viewed as cautiously positive as the price has pierced the upper Bollinger band, while the RSI has entered the overbought territory, both suggesting that room for improvement may be limited. Another leg up could stall somewhere between the 240.00 and 250.00 psychological marks. On the other hand, a downside [..]
US 500 stock index (Cash) in previous sessions found a foothold at the advancing 200-period simple moving average (SMA) currently at the 2,789 level, that being the 50.0% Fibonacci retracement of the down leg from the all-time-high of 3,396.64 till the 39½-month low of 2,183.95. At present, the price has pierced above the mostly flat 50- and 100-period SMAs and the positive move seems to be backed by the short-term oscillators. The MACD in the negative zone is above its [..]
US 30 stock index’s (Cash) one-month ascent from the multi-year low of 18,170 seems to have eased, forming a head and shoulders pattern on the daily timeframe. The price is currently testing the neckline of the pattern barely under the 23,869 level, that being the 50.0% Fibonacci retracement of the down leg from the all-time-high of 29,582.61 to the 40½-month low of 18,170. The short-term oscillators appear to be leaning towards the downside, accompanying the already negatively charged simple moving [..]
UK 100 stock index (Cash) is losing steam within the Ichimoku cloud after reversing from the 6,230 level, that being the 50.0% Fibonacci retracement of the down leg from the 7,689 peak to the multi-year low of 4,778. Backing the last two-week deterioration in price is the fading red Tenkan-sen line and the falling stochastics. Moreover, the RSI is picking up negative momentum by dipping below its neutral threshold, while the simple moving averages (SMAs) retain their bearish tone, which [..]
JP 225 stock index (Cash) continues to gradually appreciate backed by the positively charged simple moving averages (SMAs). Further fuelling the upward incline, are the Ichimoku lines – though slightly weakened – and the Ichimoku cloud. Glancing at the short-term oscillators, they too reflect some stalling in momentum despite remaining in positive territories. The MACD, in the positive section, has slipped below its red signal line, while the RSI, above its neutral threshold has turned downwards. If the positive structure [..]
US 500 stock index (Cash) is struggling to overcome the 2,935 level, that being the 61.8% Fibonacci retracement of the down leg from the all-time high of 3,396.64 until the 2,183.95 low, after acquiring some footing on the Ichimoku cloud’s upper band at 2,791. The positive tone of the Ichimoku lines and the short-term oscillators further back an advancing view. The MACD, in the positive section, is holding just above its red trigger line, while the RSI is creeping higher [..]
As the US earnings season continues in earnest amid the virus shutdowns, one of this week’s highlights will be the results from the Walt Disney Company. Disney will unveil its second quarter earnings on Tuesday after the market close and is expected to report growth in revenue. But with business activity not too significantly disrupted during the first three months of the year, the market’s reaction will depend on the Company’s outlook for the rest of the year. Empty theme [..]
Western Union stock price has been underperforming in the past two days, breaking back below the 50-period simple moving average (SMA). When looking at the bigger picture, the pair was in a negative move before it started consolidating after finding a floor at the 14-month low of 17.45. Momentum indicators are pointing to a neutral to negative bias in the short term with the RSI just below 50 and the stochastic oscillator deep in oversold zone. Also, the SMAs are following the price [..]
The US 500 stock index (Cash) is inactive at the 2,789 level, that being the 50.0% Fibonacci retracement of the down leg from the all-time high of 3,396.64 till the 2,183.95 low. The price appears stuck between the lower Bollinger band of 2,767 and the 100-period simple moving average (SMA) at 2,827. Turning to the short-term oscillators, the RSI and the stochastics promote advances as does the 200-period SMA, which is building an incline. Moreover, the 50- and 100-period SMAs [..]
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