Stock Market News

Technical Analysis – UK100 stock index plummets; buyers resurface ahead of 7000 level

Posted on October 3, 2019 at 3:35 pm GMT

UK stock index collapsed aggressively from the two-month high of 7,440 right through the simple moving averages (SMAs), erasing all gains that commenced on August 15. The MACD has distanced itself in the negative region below its red trigger line, reflecting the negative sentiment in the market. Yet, the upward slope in the RSI, which has deepened into the oversold area, warns traders that the move down is probably looking for a bottom. A significant move above the 7,050 level [..]

Technical Analysis – US30 stock index consolidates; swing low support remains in place

Posted on September 30, 2019 at 1:35 pm GMT

US30 stock index seems to be undecided as it is unable to break below the 26,833 level, which is the 23.6% Fibonacci retracement of the up leg from 25,279 to 27,312. The short-term oscillators reflect a stall in momentum but favor a push lower. The MACD is only just below its red trigger line in the negative zone, while the RSI is in bearish territory pointing down after a deflection off the 50-level. Despite the consolidation period the negative signals [..]

Could Facebook’s Libra put central banks on the digital front first? – Special Report

Posted on September 27, 2019 at 10:38 am GMT

Facebook’s plans of launching its own cryptocurrency at some point next year raised the alarm in the central bank community, which already faces issues of meeting its objectives. However, what looks to be just an idea now, could turn into a competitive game and a pivot point to the means of exchange if regulators pull the trigger. What is Libra? Since the unanimous release of the famous Bitcoin in 2009, there has been little progress in making cryptocurrencies well-recognized and acceptable means of [..]

Technical Analysis – Facebook stock consolidates, cautiously positive in medium term

Posted on September 26, 2019 at 12:09 pm GMT

Facebook’s stock has been trapped within a sideways range between 193.0 and 176.50 since early August, painting a neutral outlook in the short term. A break in either direction could therefore determine the bias. Overall, the structure of higher peaks and higher troughs is still in play on the daily chart, keeping the bigger picture positive for now, though a break below 161.0 would bring that into doubt. Momentum oscillators support the notion that the short-term bias is flat. The [..]

Technical Analysis – US30 stock index flirts with uptrend line and 50-SMA

Posted on September 17, 2019 at 3:27 pm GMT

US30 stock index pierced below the uptrend line drawn from August 26 but found support from the 50-period simple moving average (SMA) around the 27,000 handle. The index has been in a two-week uptrend, during which it plotted a seven-week high of 27,312 from where the price inched down to test the uptrend line. The Ichimoku lines, Tenkan-sen and Kijun-sen, completed a bearish cross but signal no clear direction. The Chikou span is declining with the price, warning of a [..]

Technical Analysis – Could Apple stock break out of asymmetrical triangle ahead of products launch?

Posted on September 10, 2019 at 10:18 am GMT

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 [..]

Technical analysis – Microsoft stock starts to ease after 7-month rally

Posted on September 2, 2019 at 4:13 pm GMT

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 [..]

Technical Analysis – Google’s gains slip through fingers as sellers correct back down

Posted on September 2, 2019 at 3:31 pm GMT

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 [..]

Technical Analysis – Netflix stock collapses out of a 3-month trading range

Posted on August 30, 2019 at 2:22 pm GMT

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 [..]

Technical Analysis – GER30 index consolidates above the 11,338 level; SMAs converge

Posted on August 28, 2019 at 3:31 pm GMT

The GER30 index has consolidated in a sideways market in the last 20 sessions, as the 50-period simple moving average (SMA) has flattened and blended with the 100-period SMA. The index has currently moved into the Ichimoku cloud, trading around the June low of 11,607. Directional momentum seems to have evaporated, something also reflected by the indicators. The MACD is flat at the zero line, combined with its red trigger line, while the RSI hovers at the 50-level. Furthermore, the [..]

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