BYD’s (1211) EMA10-EMA20 and MACD suggest prices could continue its downward trajectory. Prices are also below the HKD200 psychological level. Hence BYD could retest either the HKD176 or HKD165 support. However, a daily close above HKD220, which was also the EMA20, could propel prices towards the 31 August 2022’s gap down of HKD245.
As correctly anticipated in 3 Sept 2022’s commentary, Meta Platforms (META) traded below the $155.91 level and eventually reached $137.10 support this week. Based on this latest price action, Meta Platforms could continue to trend lower and provide short selling opportunities if it stays below $137.10. Next support can be seen at $120. In contrasts, a daily close...
Apple (AAPL) staged a technical rebound and closed at $157.37. That being said the underlying trend is still downtrend, as indicated by EMA10-EMA20 and MACD deadly crosses. Therefore a daily close below the $152.58 support (which is also the 50% fibonacci retracement level) could push prices further down towards the $147.03 support (61.8% fibonacci retracement) or...
Lockheed Martin (LMT) rebounded from its recent low of $412.26 to close at $421.53 for the week. However, it’s EMA10-EMA20 and MACD deadly crossovers suggest bearish sentiments persist. Hence a daily close below $412.26 could provide short opportunities towards the $394.66 support. However, a daily close above $426 level could invite buying pressure with a...
Meta Platforms (META) has been consolidating between $183.10 and $155.91 since middle of June 2022. Therefore, a daily close above $183.10 could propel it towards the $205.37 level. Second upside level can be seen at $224.3, the 4th May 2022 high. In contrasts, a daily close below the $155.91 level may provide short selling opportunities with a potential retest of...
Netfix (NFLX) has been consolidating between $252 and $221 since middle of July 2022. A daily close above $252 could form a bullish cup and handle pattern that stretches from middle of April 2022 until to date. Prices could potentially rallied towards the $333.22 level, which was the last traded price before current’s breakaway gap. In contrasts, a daily close...
If FKLI failed to stay above EMA 200 (1515-1520 range), traders can look for short opportunity.
General Motors (GM) poised to continue its rally if it breaks above $40.28. If that happens, there is a possibility of a trend continuation either towards $43.24 or $46.74. In contrasts, a daily close above $37.29 may provide short selling opportunities with a potential retest of $34.31 support. A subsequent daily close below the first support could open the door...
Occidental Petroleum rallied strongly on Friday with a high of $72.49. Hence a daily close above this level could propel prices towards either $76.75 or $82.16, both being Fibonacci Extension’s 1.272 and 1.618 levels derived from $72.49 and $56.83. However, a daily close below $64, which coincidentally the EMA20 day level, could present short selling...
As correctly anticipated on 16 July 2022'S commentary, Bank of America rallied on the back of the highlighted morning star pattern and reached $35.41. Going forward, Bank of America could continue rally if it continues to be above the resistance turned support level of $35.41. Bullish crossovers in MACD and EMA10-EMA20 also suggest this rally potential. Latest...
Boeing is currently consolidating between $163.34 and $150. A daily close above the $163.34 may present long opportunities with first resistance seen at $176.70 and second resistance seen at $189.85. Alternatively, a daily close below $150 could present short selling opportunity with a potential retest of either $131.29 support or $113.02.
Oracle triggered last week's commentary’s bullish scenario (trading above $71.20) and reached the objective of $74.90. Oracle may continue its uptrend as indicated by bullish readings in MACD, EMA10-EMA20 and price action showing higher highs and higher lows since June 2022. The latest upside resistance is $77.91. Alternatively, a daily close below $71.20 could...
Bank of America formed a morning star pattern, which is a bullish price action. It’s MACD is also showing a bullish momentum and prices just went above the EMA20. Hence prices could rally towards the $34 resistance, with next resistance at $35.41. Alternatively, a daily close below the morning star low of $29.67 could present short selling opportunity with a...
Spirit Airlines is in an uptrend, as indicated by its EMA10-EMA20 golden cross, a usually bullish indication. Its MACD showing bullish momentum, further support this outlook. Hence a daily close above the $25 could kick off the trend continuation towards the upside. First resistance is $27.88, a level that stalled Feb 2022 and Apr 2022 rallies. Second resistance...
Tesla price action suggest a strong resistance at $757, with bulls unable to breach this level for the past few weeks. It also formed a subtle higher lows since late May 2022. Therefore, a break above this $757 and a coupled with higher lows, could potentially propel Tesla to $806 level with a further resistance seen at $874, which was May 2022 support....
Oracle had craved a series of higher lows since the June 2022’s low of $63.67. However, this upward momentum has been resisted by the $71.20 level. Oracle may attempt to test the $74.84 if there is a daily close above the $71.20 level. However, Oracle may be exposed to bearish momentum if there is a daily close below $66.86 level. That may present a potential...
Amazon completed its 20 for 1 stock split on 6 June 2022. However this corporate exercised failed to kick start any significant rally as closed lower at $109.65 on Friday. This price action suggests bears are in control and there are opportunities for short selling. In addition, Amazon has been craving out lower lows and lower highs since start of 2022. Besides...
Microsoft is currently consolidating inside between $277.69 and $261.6 range. Hence a break on either side may present buying and shorting opportunities for investors and short sellers respectively. A break above $277.69 upper limit may trigger buying pressure with nearest resistance at $290.97 with a further resistance at $303.54. However, a daily close below...