Stock Market News / Page 27

Technical Analysis – Tesla posts fresh 9-month high ahead of Q2 earnings

Posted on July 18, 2023 at 1:05 pm GMT

Tesla’s stock has been in a sustained uptrend since late April when it found its feet at the 152.00 support zone. Moreover, in the latest daily session, the price jumped to 291.60, its highest level since September 2022 just two trading sessions ahead of the firm’s Q2 earnings report. Despite this strong rally, the momentum indicators are currently reflecting a divergence. The MACD remains positive but below its red signal line, while the RSI has entered the 70-overbought territory. Should [..]

Tesla earnings: Will they justify the firm’s premium valuation? – Stock Market News

Posted on July 18, 2023 at 11:26 am GMT

Following the earnings results for Q2 from major commercial banks, investors may now turn their attention to the ‘Magnificent 7’ group, with Tesla making the start on Wednesday after the closing bell. Will the results be strong enough to justify its premium valuation? What’s the broader outlook of the firm’s stock? Expectations point to decent results Tesla is the first member of the ‘Magnificent 7’ group of growth giants to report earnings for the second quarter, with the rest taking [..]

Technical Analysis – US 500 cash index rally continues; a correction is long overdue

Posted on July 18, 2023 at 6:50 am GMT

The US 500 cash index continues its advance, and it is currently trading at the highest level since April 6, 2022. The move since the March 13, 2023 low has been exponential with the lack of significant corrections being very visible at this stage. The index is currently hovering below the busy 4,533-4,550 area, as the bulls appear keen to record another 2023 high. In the meantime, while the momentum indicators are clearly on the bulls’ camp, there are some [..]

Nasdaq 100 rebalances this month, what’s the effect? – Stock Market News

Posted on July 14, 2023 at 11:46 am GMT

The Nasdaq 100 index will rebalance the weights of its component stocks this month, effective July 24. This move will reduce the weight of the largest companies, to counter the supremacy of heavyweight tech shares and avoid concentration. In isolation, this implies less demand for the largest stocks and more flows into smaller Nasdaq companies. Of course, several other factors will also influence these shares moving forward. “Special rebalancing” A scorching rally has seen the Nasdaq 100 gain 42% so [..]

Technical Analysis – Bank of America stock edges higher but bears are still in control

Posted on July 14, 2023 at 10:03 am GMT

Bank of America (BofA) stock recorded a green candle at yesterday’s session as a very important earnings period gets underway. It has been a tough period for the bulls as the stock remains significantly below the pre-March 2023 highs. However, it is trying to stay above the February 10, 2022 downward sloping trendline and to register a series of higher highs and lower highs. This could help the stock to finally stage a move towards the 31.30 area. In the [..]

Technical Analysis – US 30 cash index close to a new 2023 high but picture less than rosy

Posted on July 13, 2023 at 1:38 pm GMT

The US 30 cash index is edging higher again today, but a triple-top pattern appears to be forming. This type of structure is not uncommon in this market, but it clearly casts a shadow on the current rally. A potential break of the 33,605 neckline would brand this structure as valid with its 32,700 target becoming active. The negative news for the bulls appears to continue as the momentum indicators are not fully endorsing the current upleg. More specifically, the RSI is [..]

Netflix earnings: Watch out for the subscribers – Stock Market News

Posted on July 13, 2023 at 8:08 am GMT

After the password-sharing crackdown, Netflix saw its daily US sign-ups jump in the first few days. With that in mind, on Wednesday, when the streaming giant announces its earnings results for the second quarter, investors may pay special attention to the number of subscribers gained. Will the results be enough to extend the uptrend in Netflix’s stock? EPS set to decline, but revenue expected to increase On July 19, Netflix is scheduled to announce its earnings reports for Q2 2023, [..]

Will US bank earnings exhibit resilience and shrug off Q1 risks? – Stock Market News

Posted on July 11, 2023 at 3:27 pm GMT

Some of the largest financial institutions in the US will unofficially kickstart the second quarter earnings parade, with JP Morgan Chase, Wells Fargo and Citigroup reporting their financial results on Friday before Wall Street’s opening bell. The banking sector came under pressure in March following the collapse of four regional US banks, but recently regained investors’ trust after most US banking giants aced the Fed’s annual stress tests. Can the financial sector display healthy fundamentals and fend off any macro concerns? Harsh first half but [..]

Technical Analysis – UK 100 cash index sell-off halts near March 2023 lows

Posted on July 11, 2023 at 8:54 am GMT

The UK 100 cash index is trading sideways today following an aggressive sell-off since the July 3 local peak. The index has actually been experiencing a series of lower highs and lower lows since April 21, 2023, religiously obeying a downward sloping trendline. It is now hovering a tad above the March 20, 2023 low, potentially the first major stock index to revisit these lows. The current downleg enjoys the support of most momentum indicators. More specifically, the Average Directional [..]

Technical Analysis – Is the US 100 cash index on the brink of a correction?

Posted on July 11, 2023 at 6:44 am GMT

The US 100 index is trading sideways today as a double top pattern appears to be forming. This bearish structure will become valid if the 14,687 neckline is broken, with an assumed target at the 14,000 area. If this move materializes, it will be the first decent correction since the March 2023 banking sector-induced sell-off. The momentum indicators are probably leaning towards a correction as well. The Average Directional Movement Index (ADX) remains a tad above its 25-threshold and thus signalling a [..]

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