Apple stock is edging higher ahead of the anticipated unveiling of new products later on Tuesday, including an updated iPhone. The company’s share price is trading around the upper boundary of an asymmetrical triangle and although the RSI and the MACD both reflect a bullish bias, the Stochastics are ready to print a bearish cross above the 80 overbought mark, signaling that a downside correction could be around the corner. Should the bulls close comfortably above the 215.00 ceiling and hence [..]
Microsoft stock logged a high of 141.61 after a seven-month uptrend, before shifting into a one-month sideways move. The stock found support from the 23.6% Fibonacci retracement level of the up leg from 94.48 to 141.61, of 130.50, as well as the 132.60 level, capped by resistance at 139.40. Momentum has disappeared, as the MACD and trigger line have converged at zero, while the RSI although marginally above the 50-level, has been unable to break above previous highs. Furthermore, the [..]
Google stock collapsed from 1264 to 1139 after nearly revisiting the high of 26 July 2018 of 1269, evaporating all gains from the bullish gap of July 26 of this year. The price moved into a sideways market with upper and lower boundaries of 1203 and 1146 respectively. Despite the latest correction and consolidation phase, the incline since June 3 has painted a positive picture, something also reflected by the momentum indicators remaining in bullish territory. Furthermore, the 50- and [..]
Netflix stock plummeted out of a three-month sideways market breaching the lower boundary of 335.88, where the 200-day SMA also happened to lie. The stocks’ one-and-a-half-month plunge which started July 11, had the price retrace to around 287.09, slightly below 290.15, which is the 61.8% Fibonacci retracement level of the up leg from 230.78 to 386.00. The MACD suggests an increase in positive directional momentum as it has moved above its red trigger line in the negative zone. The RSI [..]
Apple’s stock touched a multi-month high at 221.5 at the end of July, but the price has retreated since then and recorded a lower high on the daily chart. This is an indication that the bigger uptrend may be losing steam. For the uptrend to resume, the bulls would need to push above 221.5. Short-term momentum oscillators are near their neutral levels, providing no clear directional signals. If buyers retake the driver’s seat, they may push towards 215.0 initially, this [..]
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 [..]
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 [..]
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 [..]
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