Hello Fellow Global Investor/Trader, Here's a Technical outlook on S&P500! Chart Perspective S&P500 rebounded on the bearish trendline. Furthermore, The index has broken out of the rising wedge pattern, indicating a potential bearish bias ahead. The momentum indicator also confirmed the possible bearish bias by forming the death cross. Therefore, we conclude...
Cloudflare - 30d expiry - We look to Sell at 52.98 (stop at 56.11) Our short term bias remains negative. Daily signals are bearish. The medium term focus remains bearish and intraday rallies continue to find sellers. The trend of lower highs is located at 54.00. We look for a temporary move higher. Preferred trade is to sell into rallies. Levels close to...
Today you can review the technical analysis idea on a 1W linear scale chart for Robinhood Markets, Inc (HOOD). Robinhood price has broken out of an ascending triangle and re-tested the resistance heading lower. Measured move could bring the price down to $6. It is a weekly chart so it may take some time to get there. If you enjoy my ideas, feel free to like it...
Micron Technology (MU) short-sell potential: Micron is under pressure today, trading down 4.70% after the chip maker reported a wider-than-expected quarterly loss and revenue that fell short of Wall Street forecasts. Micron's results were impacted by declining demand for electronics, and the company announced it will cut about 10% of its workforce. Price action...
Today you can review the technical analysis idea on a 1D linear scale chart for Coinbase Global, Inc (COIN). Coinbase price is around the major support and resistance line and has the possibility to head lower. Price target is $17-19. If price moves higher, it could go as high as $85-87. I am not confident of the price heading much higher. Including in the chart...
Ageas - 30d expiry - We look to Sell a break of 40.19 (stop at 41.42) The primary trend remains bearish. We are trading at overbought extremes. A break of the recent low at 40.28 should result in a further move lower. Bearish divergence is expected to cap gains. A higher correction is expected. Our profit targets will be 37.11 and 36.51 Resistance: 42.65...
EUR/USD 🔽 GBP/USD 🔽 AUD/USD 🔼 USD/CAD 🔽 USD/JPY 🔼 XAU 🔽 WTI 🔼 The latest GDP data from the US will be announced tonight, with Mitrade estimating a 2.9% quarterly increase, the same as last month. A minor relief from recession fears allowed the stock market to close higher. With the Dow Jones Industrial Average rising 526 points (+1.60%), the S&P 500 gained 56...
Tesla's stock approached a strong supply area, we may see the price trading there in that area between 103 and 130 per share, then the trend changes to the upside, if there is a near recovery in the stock market
EDU ( Chinese stock ): I'm bullish Chinese stocks in general but I really do like the look of EDU. A few reasons to keep a good look on EDU: - price is now above all the moving averages on the daily chart; - price is getting back above the Ichimoku cloud; - there is a huge gap between $29.70 and $57.34; - the weekly chart chart has the look of an inverted...
TAL (Chinese Stock) : I'm bullish Chinese stocks in general but I really do like the look of TAL, which looks very similar to EDU. A few reasons to keep a good look on TAL: - price is slowly getting back above the Ichimoku cloud; - there is a huge gap between $9.68 and $17.36; - the weekly chart chart has the look of an inverted head and shoulders...
Delivery Hero - 30d expiry - We look to Buy at 31.66 (stop at 29.69) We have a 78.6% Fibonacci pullback level of 31.00 from 23.88 to 57.16. Levels below 32 continue to attract buyers. The primary trend remains bearish. A higher correction is expected. Support is located at 31 and should stem dips to this area. Our profit targets will be 36.58 and 37.58...
EUR/USD 🔼 GBP/USD 🔼 AUD/USD 🔽 USD/CAD 🔽 USD/JPY 🔽 XAU 🔼 WTI 🔼 The Bank of Japan maintained a negative interest rate of -0.10%, but an unexpected change in its yield curve control surprised investors, Mitrade expects this will open up the possibility of monetary tightening. As a result, USD/JPY lost over 520 pips to a closing price of 131.7, the lowest level since...
Axa - 30d expiry - We look to Sell a break of 25.89 (stop at 26.71) We are trading at overbought extremes. Short term bias has turned negative. Short term MACD has turned negative. The bearish engulfing candle on the daily chart is negative for sentiment. There is no clear indication that the downward move is coming to an end. A break of the recent low at...
Alphabet - 30d expiry - We look to Buy at 95.11 (stop at 91.82) A bullish reverse Head and Shoulders has formed. Bespoke support is located at 94.20. Levels below 95 continue to attract buyers. The primary trend remains bullish. Dips continue to attract buyers. Early pessimism is likely to lead to losses although extended attempts lower are expected to...
ArcelorMittal - 30d expiry - We look to Buy a break of 26.51 (stop at 25.56) Daily signals are bullish. 26.47 has been pivotal. Our short term bias remains positive. The bias is to break to the upside. There is no clear indication that the upward move is coming to an end. We are trading within a Bullish Ascending Triangle formation. Our profit targets...
Aegon - Intraday - We look to Sell a break of 4.578 (stop at 4.757) Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. The primary trend remains bearish. Trading within a Corrective Channel formation. A break of the recent low at 4.585 should result in a further move lower. Trading has been mixed and...
Salesforce - 30d expiry - We look to Sell at 164.77 (stop at 172.51) Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end. 166.59 has been pivotal. 166 continues to hold back the bulls. Preferred trade is to sell into rallies. The primary trend remains bearish. Our profit targets...
Moderna - 30d expiry - We look to Sell at 186.88 (stop at 198.38) Price action continued to range between key support & resistance (120 - 190) and we expect this to continue. Daily signals are mildly bearish. Posted a Double Top formation. An Evening Doji Star formation has been posted at the high. We look for a temporary move higher. Offers ample...