Stock Market News / Page 15

Technical Analysis – Will the US 500 index sail to record highs?

Posted on January 15, 2024 at 9:54 am GMT

The US 500 index flirts with its 2022 record high Lacks momentum, but its trend remains positive above 4,660 The US 500 stock index (cash) recovered its latest pullback, rising swiftly back above its 20-day exponential moving average (EMA) and closer to its record high of 4,817 registered in January 2022. There is some skepticism in the market as the stochastic oscillator is looking for a negative reversal slightly above its 80 overbought level. That said, the RSI is [..]

Technical Analysis – Citigroup stock pulls back ahead of earnings

Posted on January 11, 2024 at 1:31 pm GMT

Citigroup shares post 21-month high in 2024 But experience a setback ahead of Q4 earnings on Friday Short-term oscillators exit overbought territories Citigroup’s stock has been staging a V-shaped recovery since its 2023 bottom in October, jumping above a crucial trendline taken from its February peak. Moreover, the price posted a fresh 21-month high of 54.66 in the past week, but quickly retraced lower due to reaching overbought conditions. Should the recent weakness persist, the stock may slide towards 49.91, [..]

Technical Analysis – GER40 cash index calmness could end soon

Posted on January 11, 2024 at 8:58 am GMT

GER40 index remains a tad below its all-time high It is currently 15% higher than the October 2023 low Momentum indicators are somewhat mixed at this juncture The GER40 cash index is trading higher today and remains a tad below the December 14, 2023 high of 17,004. It has recorded an impressive 15% rally since the October 27, 2023 low, with the bulls possibly taking a breather without risking their hard-earned gains. The bears are looking for an opening to [..]

Technical Analysis – JP 225 index rockets to 34-year high

Posted on January 10, 2024 at 4:20 pm GMT

JP 225 index re-activates 2023 uptrend More upside likely but gains could be limited Japan’s 225 stock index (cash) rocketed to a 34-year high of 34,827 on the back of a tech rally on Wednesday and there might be space for further progress. Both the RSI and the stochastic oscillators have surged into the overbought territory, but they have yet to show signs of weakness, reflecting a bullish bias. Besides, there is no major resistance in sight until the upper band of the [..]

US banks poised to close strong year on soft note – Stock Markets

Posted on January 10, 2024 at 1:57 pm GMT

US banks kick off Q4 earnings on Friday before opening bell Focus falls on the impact of declining yields and rate cut bets Valuation multiples rise but remain historically cheap Tough quarter The banking sector started 2023 with the best possible omens as it was expected to continue capitalising on higher net interest margins. This metric is essentially the difference between the interest income generated by long-term assets such as loans and the interest expense paid to short-term liabilities [..]

Technical Analysis – US 100 cash index in waiting mode

Posted on January 9, 2024 at 10:43 am GMT

US 100 index remains a tad below its recent all-time high Strong reaction on Monday after last week’s anaemic performance Momentum indicators are mostly trading sideways The US 100 cash index is lower today following Monday’s very strong green session. The index is currently trading a tad below the November 22, 2021 high at 16,767 and not far from its recently recorded all-time high of 16,972. The bears would hope for a stronger correction, but the market appears to be in [..]

Equity indices face moment of truth as earnings season looms – Stock Markets

Posted on January 8, 2024 at 11:46 am GMT

Earnings parade unofficially starts on Friday with major US banks Focus will fall on 2024 guidance as stocks start the year on the back foot Asymmetric risks due to rosy valuations and optimistic growth forecasts Investors hit the pause button Undoubtedly, the major US indices had a fantastic 2023, closing the year with strong positive momentum. However, the nine-week winning streak came to an end in the first week of 2024, following fresh record highs from both the Nasdaq [..]

Technical Analysis – Could the US 500 cash index correction have legs?

Posted on January 5, 2024 at 11:00 am GMT

US 500 index is in the red again today Correction underway since touching the 4,796 high Momentum indicators support the current bearish move The US 500 cash index is trying to record its sixth consecutive red candle, starting 2024 in a rather negative note. The current correction could gain further traction if the data releases on Friday disappoint market participants. Having said that the US 500 index remains around 14% higher than the October 27, 2023 low of 4,100. The [..]

Technical Analysis – US 30 cash index could be close to a correction

Posted on January 4, 2024 at 8:33 am GMT

US 30 index trades a tad below its all-time high Aggressive move higher from the October lows Stochastic oscillator could be the catalyst for a sizeable correction The US 30 cash index is in the green today as it trades a hair’s breadth away from its recent all-time high of 37,813. It has been an impressive rally since the October 27, 2023 low of 32,324 with the US 30 index jumping by around 16% higher in just two months. However, the [..]

Technical Analysis – Apple stock plummets to 7-week low

Posted on January 3, 2024 at 9:43 am GMT

Apple shares open with a negative price gap Barclays’ downgrade triggers the move Short-term oscillators tilt significantly to the downside Apple’s stock had been experiencing a steep uptrend since the October bottom of 165.50, posting a fresh record high of 198.08 in mid-December. However, the latter was followed by a mild pullback, which deteriorated after the price opened with a wide negative gap on Tuesday on the back of a Barclays’ downgrade. Should the weakness resume, the bears might push the price [..]

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