Stock Market News / Page 38

Technical Analysis – US 500 index recovers from banking breakdown

Posted on March 30, 2023 at 12:12 pm GMT

The US 500 stock index (cash) rose back above the 4,000 level yesterday, recouping the bearish breakdown caused by SVB’s collapse. The bulls gained extra positive momentum over the past couple of hours, deviating clearly above the support-turned-resistance trendline from October. Technically, that increases the odds for another extension to 4,070, where the 61.8% Fibonacci retracement of the 4,195-3,809 downtrend is placed. Not far above, the tentative descending trendline at 4,085 could be a make-or-break point. If the bulls breach that [..]

Technical Analysis – Tesla stock trades rangebound between SMAs

Posted on March 29, 2023 at 1:20 pm GMT

Tesla’s stock had experienced a massive downtrend since September before recouping some losses after hitting a 31-month low of 101.00 in early 2023. However, the stock seems to have entered another round of weakness lately after its latest advance came to a halt at the 200.00 region. The momentum indicators are reflecting a divergence with the price action. Specifically, the RSI has flatlined slightly above its 50-neutral mark, while the MACD histogram is holding above zero and its red signal line. Should the positive [..]

Technical Analysis – US 100 cash index consolidates after higher high

Posted on March 29, 2023 at 7:33 am GMT

The US 100 cash index is consolidating after reaching 12,948, the highest level since August 26, 2022, and having survived the mid-March banking sector woes. This upward move was probably the end-product of the recent broadening wedge. However, if the index fails to record another rally and a drop towards the 11,700 area ensues, then a potential double top pattern would be completed. The bears would clearly love such a development, but they need concrete information before going all in. [..]

Technical Analysis – UBS stock clinches some gains as volatility fades

Posted on March 28, 2023 at 11:33 am GMT

UBS’ stock has experienced significant swings following the takeover of Credit Suisse amid the ongoing turbulence in the global banking sector. Nevertheless, in the last couple of daily sessions, volatility seems to be subsiding, with the share price gaining some ground even if this rebound seems unconvincing. The momentum indicators reflect a divergence between the price action. Although the stock managed to recoup some losses, the stochastic oscillator is descending steeply, while the MACD histogram remains below both zero and [..]

Technical Analysis – JP225 index upward move appears to have run its course

Posted on March 28, 2023 at 7:46 am GMT

The JP225 cash index has been on a decent upward move since the March 15 low of 26,457. This short-term rally appears to have halted just above the 27,423- 27,470 range set by the 38.2% Fibonacci retracement level of the March 8, 2022 – August 17, 2022 uptrend and the 50-day simple moving average (SMA). This move appears to have been the least-resistance path for the index, correcting half of the acute downward move recorded in early March. At [..]

Technical Analysis – Deutsche Bank retreat continues

Posted on March 24, 2023 at 12:24 pm GMT

Deutsche Bank has dropped to a five-month low amidst the latest banking sector shenanigans. It has been an aggressive correction since the January 30 high of 12.33, clearing some key levels with relative ease. It currently hovers just above the 2.5-year low of 7.22 recorded on September 30, 2022. To be fair, the overall technical picture is not a pleasant reading for the Deutsche Bank bulls. The Average Directional Movement Index (ADX) has shot up with its D- component testing the highs [..]

Technical Analysis – Citigroup tests lower boundary of year-long range

Posted on March 24, 2023 at 10:24 am GMT

Citigroup is trading very close to the lower boundary of a year-long rectangle. This 42.81-54.30 range survived the October 2022 downside breakout, revealing a precarious balance among market participants. However, the recent developments in the US banking sector appear to have invigorated the stock bears. Citigroup has not recorded a lower low in the current phase, potentially disappointing the bears, but the long-term trend remains bearish. Despite the momentum indicators plunging in bearish territory, the bears should not feel very [..]

Technical Analysis – US 30 index grinds lower, outlook cautiously negative

Posted on March 23, 2023 at 3:50 pm GMT

The US 30 index (cash) has been under pressure so far this year, although the decline has not been very dramatic. Prices are down only 2% year-to-date, and a mere 12% away from record highs. Nonetheless, the price structure in recent months points to a negative trend, something that has started to be reflected in the downward-sloping 50-day moving average (MA). Momentum oscillators are near their neutral levels, providing little information about the next directional move. The RSI seems to [..]

What’s the outlook for US stock indices? – Stock Market News

Posted on March 22, 2023 at 3:08 pm GMT

US stock markets have experienced major swings in 2023 especially after cracks appeared in the US banking sector, which were also evident in Europe. As a consequence, markets revised their projections concerning global interest rate levels to the downside, expecting that central banks will eventually back down in the face of a severe recession. Hence, the focus turns to the Fed’s policy decision on Wednesday, which will likely affect each index differently. Nasdaq smiles while Dow Jones cries After a [..]

Technical Analysis – GER40 cash index edges lower, but battle for 15,271 has just started

Posted on March 22, 2023 at 8:48 am GMT

GER40 cash index is edging lower after touching the January 17 high of 15,271 and the 50-day simple moving average (SMA). This is a busy area that acted as the lower boundary of the January-March 2023 rectangle and it has now turned into resistance. Since the start of the year, it has almost been a one-way move for GER40, in line with the medium-term trend that commenced on October 3, 2022. Actually, the index has been obeying a bullish peak/trough pattern and the correction in [..]

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