Stock Market News / Page 33

Technical Analysis – Amazon stock fails to advance above 2023 peak

Posted on May 16, 2023 at 7:26 am GMT

Amazon’s stock has been in a steady uptrend after encountering strong support at the 88.00 region in mid-March. In addition, the price jumped above both its 50- and 200-day simple moving averages (SMAs), with the latest rebound faltering just shy of the 2023 high of 113.54. Despite the recent weakness, the short-term oscillators remain tilted to the bullish side. Specifically, the MACD is strengthening above both zero and its red signal line, while the RSI is flatlining in the positive [..]

Technical Analysis – US 100 cash index close to a higher high, but bearish pressure increasing

Posted on May 16, 2023 at 7:16 am GMT

The US 100 index continues to edge higher reaching new highs. Since the October 13, 2022 low of 10,431, the index has been on an upwards path recording a series of higher highs and higher lows. The latest upleg since the March 13, 2023 low has been on the aggressive side with the bears desperate for a pullback. With the Average Directional Movement Index (ADX) stuck well below its 25-threshold, the onus falls on the stochastic oscillator to signal the next move. [..]

Technical Analysis – GER40 cash index is ready for another move

Posted on May 15, 2023 at 12:20 pm GMT

The GER40 cash index is a tad below the August 13, 2021 high of 16,030, and is flirting with the highest print since January 2022. It has recorded an impressive 35% rally since the October 3, 2022 low, but it now appears to be somewhat toppy. While the Average Directional Movement Index (ADX) is hovering below its 25-threshold and signaling a trendless market, the stochastic oscillator is ready to give a strong signal. It is currently battling with its moving [..]

Technical Analysis – US 500 index extends sideways move

Posted on May 15, 2023 at 7:55 am GMT

The US 500 stock index (cash) has been gaining ground since mid-March, slicing through both its 50 and 200-day simple moving averages (SMAs). Nevertheless, this recent advance faltered just shy of the 2023 peak of 4,195, with the price entering a consolidation phase beyond the 4,000 psychological mark. The momentum indicators are tilting towards the bearish side. Specifically, the MACD dropped below its red signal line but remains in the positive zone, while the stochastic oscillator is ticking down after [..]

Technical Analysis – US 30 cash index bulls anxiously look for bullish signs

Posted on May 11, 2023 at 10:14 am GMT

The US 30 cash index is hovering around the 33,550 area as the 34,280 level seems to haunt the index bulls. They are gathering their breath and trying to figure out the best way to stage an upside breakout. The recent series of lower highs is not a positive sign, but they are focusing on the stochastic oscillator. This indicator has broken above its moving average and a sustained move higher would be the signal the bulls might be waiting [..]

What did we learn about stocks this earnings season? – Special Report

Posted on May 10, 2023 at 11:55 am GMT

The earnings season is almost over and stock markets are in a joyful mood. Even though corporate earnings are on track to decline for a second quarter, the drop was far less severe than what analysts expected, spreading cheer in the markets. In this piece, we dissect the outlook for earnings and examine whether valuations reflect economic reality. Beating a low bar As the earnings season winds down, the results have been quite encouraging. In the first quarter of this [..]

Technical Analysis – Disney stock jumps above SMAs ahead of earnings

Posted on May 10, 2023 at 10:22 am GMT

Disney’s stock attempted a recovery after a disastrous 2022 in which the price lost almost half of its value. However, the 2023 rally paused in mid-February and the price erased most of its gains, while it has been stuck within a tight range in the past month. The momentum indicators currently suggest that near-term risks are tiled to the upside. Specifically, the stochastic oscillator is ascending after posting a bullish cross and the MACD is holding above both zero and [..]

Technical Analysis – Citigroup bulls ready to see light at the end of the tunnel?

Posted on May 10, 2023 at 7:42 am GMT

Citigroup survived the mid-March madness, but it has failed to make sustainable gains despite touching 50.35 on April 19. It is currently hovering below the January 16, 2015 low of 46.65, around 12% lower than the February 2 high and comfortably inside the 42.81-54.30 range that has been dominating the price action since March 2022. It has been a tough period for the bulls, but they could finally see light at the end of the tunnel. The Average Directional Movement [..]

Technical Analysis – JP225 index retests 16-month high

Posted on May 9, 2023 at 1:06 pm GMT

The JP225 cash index is edging higher today, a tad below the May 1, 2023 print of 29,352, which is the highest traded level for 16 months. Despite the aggressive rally since the March 15 low, the bulls seem to be still hungry for higher highs even though the momentum indicators are sending mixed signals. While the Average Directional Movement Index (ADX) appears to be stabilizing at decent levels signaling a bullish trend, the stochastic oscillator has broken below its overbought territory. [..]

Technical Analysis – US 500 index rises after another bounce off 50-day SMA

Posted on May 8, 2023 at 9:59 am GMT

The US 500 (cash) index added more than 2% on Friday after another rebound off the 4,050 support level and the 50-day simple moving average (SMA). The index has been moving sideways since March 31 with the technical oscillator mirroring the latest price action. The RSI is flattening above the 50 level, while the MACD is falling beneath its trigger line in the positive area. Should the pair manage to strengthen its positive momentum, the next resistance could come around [..]

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