Stock Market News / Page 31

Technical Analysis – Intel in risk of sizeable correction if another breakout proves false

Posted on June 7, 2023 at 7:32 am GMT

Intel managed to record a strong day yesterday, trying desperately to join the AI frenzy that has been driving the market aggressively higher. However, it remains stuck inside the wide 24.63-31.27 rectangle that has formed since September 2, 2022. Three false upward breakouts have taken place up to now, increasing the importance and the difficulty in breaking this range-trading pattern. Market participants are anxiously looking for some signal from the momentum indicators. However, the Average Directional Movement Index (ADX) has returned below [..]

Technical Analysis – Tesla stock jumps to fresh 7-month high

Posted on June 6, 2023 at 11:27 am 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 last daily session, the price jumped to its highest levels since November 2022 before paring some gains. The momentum indicators currently suggest that buying forces are strengthening despite being in overbought territories. Specifically, the MACD is posting consecutive multi-month highs above both zero and its red signal line, while the RSI is positively charged within the 70-overbought mark. [..]

Technical Analysis – US 100 cash index at new high for 2023 but correction is overdue

Posted on June 6, 2023 at 7:54 am GMT

The US 100 index is trading a tad above the 14,346-14,382 range, close to the highest level for almost 14 months. The pace of the recent rally remains very aggressive, pleasing the bulls but opening the door for a sizeable correction towards the March 13, 2023 upward sloping trendline. The bulls are probably feeling confident the rally will continue since the Average Directional Movement Index (ADX) is currently trading at its highest level since November 2021, confirming the aggressive upleg. However, [..]

Technical Analysis – Deutsche Bank at a crossroads

Posted on June 2, 2023 at 11:07 am GMT

Deutsche Bank is still trying to find its direction after the March correction. It has been range-trading over the past 45 days with a symmetrical triangle forming. This pattern is a combination of lower highs and higher lows, confirming the uncertainty that appears to dominate the market participants’ thoughts. This structure does not give a strong indication of the direction of the imminent breakout, but it usually follows the dominant trend. However, if the post-breakout move is not significant, there [..]

Technical Analysis – Will the US 100 index come under profit-taking pressure?

Posted on June 1, 2023 at 2:19 pm GMT

The US 100 stock index (cash) opened June’s trading session on a neutral note, though the formation of a bearish doji at the top of the uptrend keeps feeding speculation that the latest remarkable rally has probably peaked. The RSI and the stochastic oscillator are witnessing overbought conditions. Yet, with the former standing above 70 and the latter preserving a horizontal trajectory around 80, upside pressures could last a bit longer, especially if the 14,215 nearby support area stands firm. In the event the price heads lower, [..]

AI mania takes over Wall Street; is this a new bubble? – Stock Market News

Posted on June 1, 2023 at 12:33 pm GMT

Tech stocks are racing higher again, leaving all other sectors trailing far behind. However, it’s a bit different this time as it is no longer a broad rally in everything that is tech. This particular upswing is a lot narrower and is being driven by the buzz in artificial intelligence (AI), with anything AI-related getting caught up in the excitement. But with many AI stocks already notching up year-to-date gains of more than 100%, how sustainable is this rally? Riding [..]

Technical Analysis – Has Nvidia’s rocket rally peaked?

Posted on May 31, 2023 at 2:54 pm GMT

Nvidia stock skyrocketed to a record high of 418.59, cashing in on the Artificial Intelligence frenzy and making the company the first chipmaker company to hit a $1 trillion valuation. The stock’s price has almost quadrupled since October’s low of 107.90 and some profit taking could be possible after the extraordinary rally. The formation of a bearish shooting star candlestick flags a reversal to the downside, though traders will wait to see what the next candlestick will be. If the stock gaps [..]

Technical Analysis – JP225 cash index correction could morph into a bearish trend

Posted on May 31, 2023 at 7:51 am GMT

The JP225 cash index is on a streak of downward moves, dropping from the all-time high of 31,664 and it is currently a tad above the 30,711 level. This correction was not unexpected considering the aggressive nature of the recent upleg. However, the momentum indicators might point to a stronger downwards move, and not just a short-term correction. The Average Directional Movement Index (ADX) is edging lower from its highest peak since the September 2021 rally. Usually, a drop from [..]

Technical Analysis – Apple stock opens with positive gap, eyeing all-time highs

Posted on May 30, 2023 at 2:38 pm GMT

Apple’s stock has been in a steep uptrend since late December, generating a structure of higher highs and higher lows. In today’s session, the stock had a gap up opening, jumping to its highest levels since March 2022 and battling with its upper Bollinger band. The momentum indicators currently suggest that bullish pressures are intensifying. Specifically, the stochastic oscillator is ascending after posting a bullish cross, while the RSI is approaching its 70-overbought zone. Should the rally resume, the March 2022 peak [..]

Technical Analysis – UK 100 cash index back inside key range

Posted on May 30, 2023 at 10:37 am GMT

The UK 100 cash index has been trading sideways over the past few trading sessions, as it has returned inside the 7,599-7,689 range that acted as strong resistance during the January-December 2022 period. This area was eventually broken forcefully in January 2023, but it has now come into play again. In addition, a series of lower highs and higher lows is supporting the current index move. The momentum indicators appear to be mixed at this stage. The Average Directional Movement [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

Stock Market News

XM Live Chat