Stock Market News / Page 24

Technical Analysis – Nvidia eyes record high ahead of earnings

Posted on August 23, 2023 at 11:51 am GMT

Nvidia has been the best performing stock of the S&P 500 in 2023, gaining around 300% and marching to consecutive higher highs. Despite experiencing a pullback below its 50-day simple moving average (SMA) for the first time in eight months, the stock bounced back and is set to revisit its record high ahead of its earnings report later on Wednesday. The momentum indicators are endorsing this latest advance. Specifically, the stochastic oscillator is ascending near the overbought zone, while the [..]

Technical Analysis – Could today’s green candle in the UK 100 cash index have legs?

Posted on August 22, 2023 at 1:45 pm GMT

The UK 100 cash index is finally recording a green candle today after seven consecutive red candles that pushed it towards the 7,200 region. It tested the March 20, 2023 low at 7,205 for the second time, but the bears proved powerless to record a new 2023 low, opening the door to the current rebound. Despite the Average Directional Movement Index (ADX) trading a tad below the early-June high and signaling a strong bearish trend in the market, the remaining [..]

Can Nvidia earnings refuel the equity market rally? – Stock Markets

Posted on August 22, 2023 at 11:27 am GMT

Nvidia is set to unveil its financial results for the second quarter of 2023 on Wednesday, August 23, after Wall Street’s closing bell. The leading chipmaker is expected to post record earnings and revenue figures driven by the eruption of artificial intelligence (AI), which has massively increased demand for its high-tech chips. Can a solid performance from the AI darling erase the recent correction in US equity markets? More than an earnings call In its previous earnings report, Nvidia managed to [..]

Technical Analysis – Taiwan semiconductor meets familiar support area

Posted on August 22, 2023 at 10:07 am GMT

Taiwan semiconductor’ stock (TSMC) turned upwards after hitting its 200-day simple moving average (SMA) at 89.45 last Friday, looking to repeat May’s bullish pattern. The market seems to have reached oversold conditions as the stochastic oscillator and the RSI are now pushing for an upside reversal above 20 and 30 respectively. Monday’s close above the descending trendline is good news for the rebound, but it could be short-lived if the bulls are rejected at 95.20. In the event the price [..]

Technical Analysis – US 30 cash index correction at tipping point

Posted on August 22, 2023 at 6:58 am GMT

The US 30 cash index has been under bearish pressure after registering a new 2023 high and its highest print since April 2022. It is trading sideways today, testing the support set by the October 13, 2022 upward sloping trendline. The previous three times this trendline was tested, the bears failed to record a decisive sell-off, geometrically increasing its importance. The momentum indicators remain mostly supportive of the current downleg. More specifically, the RSI has reached its lowest point since the [..]

Technical Analysis – US 500 index bounces off 23.6% Fibonacci

Posted on August 21, 2023 at 12:54 pm GMT

The US 500 stock index (cash) has been in a steady decline since its peak at the 16-month high of 4,606 on July 27. However, the price seems to be temporarily halting its retreat after encountering strong support near 4,342, which is the 23.6% Fibonacci retracement of the 3,486-4,606 upleg. Despite the latest bounce, the short-term oscillators continue to reflect downside risks. Specifically, the MACD is extending its decline below both zero and its red signal line at its lowest levels since [..]

What’s behind the latest pullback in equity markets? – Stock Markets

Posted on August 17, 2023 at 2:31 pm GMT

The S&P 500 and Nasdaq 100 equity indices are on track to post their third consecutive red candlestick on the weekly chart for the first time since February 2023 and December 2022, respectively. After a relentless year-to-date rally, fund managers seem to be starting to lock some profits or rebalance their portfolios amid the ongoing risk of overtightening as the US economy continues to exhibit remarkable resilience. However, there is a plethora of additional risks that investors should have in [..]

Technical Analysis – JP225 cash index bulls reappear in the market

Posted on August 17, 2023 at 7:32 am GMT

Following four red candles, the JP225 cash index is today recording an interesting candlestick called hammer that is usually interpreted as a bullish sign. The bulls would probably like to be given the chance for a rebound as the JP225 index has been on a downward trend since the June 16, 2023 high, and they are currently facing a bearish series of lower lows and lower highs. Therefore, a potential upleg needs to be sizeable to negate this structure and [..]

Technical Analysis – Nvidia set to erase pullback, new record high in sight?

Posted on August 16, 2023 at 10:22 am GMT

Nvidia’s stock has experienced an exponential surge since the beginning of the year, gaining around 250% before experiencing a minor pullback. Despite falling below its 50-day simple moving average (SMA) for the first time in eight months, the stock price rebounded strongly and appears to be on track to revisit its recent all-time high. The momentum indicators are endorsing this latest jump. Specifically, the stochastic oscillator is ascending steeply after posting a bullish cross in the oversold zone, while the RSI [..]

Technical Analysis – US 100 cash index bears appear to be thirsty still

Posted on August 14, 2023 at 11:50 am GMT

The US 100 index is edging higher but the bearish pressure following the July 19, 2023 peak of 15,931 remains potent. It looks like the bears are determined to register the first sizeable pullback since the March 2023 events, in a desperate attempt to recoup part of their significant recent losses. Obviously, the momentum indicators have taken notice of this bearish reaction. The Average Directional Movement Index (ADX) has broken above its 25-threshold, thus signalling a muted bearish trend in the market, [..]

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