Stock Market News / Page 29

Technical Analysis – US 30 cash index range-trading continues

Posted on June 29, 2023 at 7:43 am GMT

The US 30 cash index bounced off its 50-day simple moving average (SMA) and it is now hovering around the 33,754 area. The bulls have managed to record a series of higher lows and they are apparently looking ahead to the recent 34,577 high in their attempt to establish a more sustained bullish trend. However, they firstly have to overcome the current market lull that is clearly depicted in the relative tightening of the Bollinger bands. Similarly, the momentum indicators appear to have [..]

Technical Analysis – Exxon Mobil stock stuck in tight range

Posted on June 28, 2023 at 2:59 pm GMT

Exxon Mobil is trading sideways today, breaking the latest run of consecutive green candles. The stock remains stuck in a tight range as market participants appear to be evaluating their strategy amid a sizeable correction following the recent all-time high of 119.78. The momentum indicators are confirming this muted price action. The Average Directional Movement index (ADX) is hovering in its range-trading territory, and the RSI remains just a tad above its 50-midpoint with a tendency for lower prints. The [..]

Technical Analysis – Amazon stock surges to fresh 9-month high

Posted on June 27, 2023 at 1:38 pm GMT

Amazon’s stock has been in a steady uptrend since the beginning of the year, posting consecutive multi-month peaks. In the latest daily session, the price posted a fresh 9-month high of 131.36 but quickly pared some gains as the bulls seem to be exhausted. This loss of positive momentum is also reflected in the short-term oscillators. Specifically, the RSI is ticking downwards above its 50-neutral mark, while the MACD dropped beneath its red signal line but remains positive. Should the [..]

Is this the time for sizable correction in stock markets? – Stock Market News

Posted on June 22, 2023 at 1:44 pm GMT

US stock indices have staged a powerful rally since October 2022, which is mainly driven by a few tech giants that are anticipated to realise significant gains from the boom in artificial intelligence (AI). However, the market has reached a stage where valuations are overstretched, liquidly is drying up, earnings are stagnating, and the Fed shows no signs of backing off from its aggressive stance. Could this be the beginning of a correction? Stellar performance but limited upside left The [..]

Technical Analysis – US 30 cash index edges lower as bearish pressure intensifies

Posted on June 22, 2023 at 6:48 am GMT

The US 30 cash index has completed five red candles after again failing to decisively rally above 34,280. This level has morphed into a key sentiment area as over the past 10 months the bulls have registered six false breakouts. The US 30 index is currently hovering a tad above the 33,754 level but below the December 2, 2022 downward sloping trendline. The momentum indicators appear to mostly favour the bears at this juncture. While the Average Directional Movement Index (ADX) is [..]

Technical Analysis – The calm before the storm for Visa stock?

Posted on June 21, 2023 at 1:07 pm GMT

Visa stock has recovered from the May 31, 2023 dip but has failed to make significant gains. It remains under pressure despite the overall bullish market sentiment, and it is hovering inside the 228.44-225.96 range. There is a sense of anticipation in the market as both the simple moving averages’ (SMAs) convergence and the tightening Bollinger bands point to an imminent move. The momentum indicators are on the fence at this stage. The Average Directional Movement index (ADX) is pointing to [..]

Technical Analysis – Citigroup stock under increasing bearish pressure

Posted on June 21, 2023 at 7:37 am GMT

Citigroup is stuck in the middle of the 42.81-53.90 rectangle that has been dominating the price action since March 2022. It is currently below the February 2, 2023 downward sloping trendline and hovering around the various simple moving averages (SMAs) used, pointing to a delicate balance due to increased indecisiveness from market participants. The bears have been more active, but their bearish breakouts have repeatedly failed. However, it looks like they will probably be given the chance for another sell-off as [..]

Technical Analysis – Where will Apple stock’s rally halt?

Posted on June 20, 2023 at 2:57 pm GMT

Apple’s stock has been in a steep uptrend since late December, smashing historical resistance levels and posting a fresh all-time high of 186.37 on Thursday. The big question that lies ahead though is whether the rally can resume without a sizable pullback and at which level will the stock price peak. The momentum indicators currently suggest that the recent rally could be overstretched as both the RSI and the stochastic oscillator are within their overbought territories, while the price is trading near the upper [..]

Technical Analysis – US 100 cash index rally halts at key level

Posted on June 20, 2023 at 7:44 am GMT

The US 100 index is edging slightly lower after recording another 2023 high. The index stands around 30% higher than the March 13, 2023 low, with the move since the April consolidation being almost exponential. The bears are again trying to record a small pullback. Their last two attempts to stage a correction, in May 22 and June 6 respectively, proved unsuccessful as the bulls used this price action to take a breather before pushing the US 100 index even [..]

Why is FTSE 100 left out of the stock market party? – Stock Market News

Posted on June 15, 2023 at 1:42 pm GMT

Undoubtedly, major global stock indices have exhibited remarkable performance since the beginning of the year, with tech companies being the main driving force behind this rally. However, the FTSE 100 index, which was the sole survivor of the 2022 global selloff, has been massively underperforming for a wide range of reasons. Are UK stocks extremely cheap at the current levels or is there limited growth potential in the economy? Idiosyncratic reasons behind underperformance Last year, the UK stock market had [..]

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