Stock Market News / Page 47

Technical Analysis – US 30 index edges slightly lower as festive lull prepares to kick in

Posted on December 22, 2022 at 10:31 am GMT

The US 30 cash index prepares for the last sessions before the festive mood kicks in. It is currently hovering around 33,350 following the local trough of 32,475 seen on December 20. The short-term bearish trend since early December appears to be in control but the momentum indicators are less enthusiastic. The RSI is exactly at the 50-level threshold while the Average Directional Movement Index (ADX) and its subcomponents show little appetite for trend signaling at this juncture. Interestingly, the [..]

Technical Analysis – What’s next for Nike: trend reversal or continuation?

Posted on December 21, 2022 at 2:27 pm GMT

Nike stock traded sharply lower recently after it found strong resistance at the 116.00 territory, which stopped the bulls during the summer and offered strong support back in March. The stock has returned back below all three of the plotted moving averages this week, but it continues to trade above the prior downtrend line drawn from the high of November 22, 2021, and above the uptrend line taken from the low of October 3. All these mixed technical signals paint [..]

Stock market outlook 2023: Will the bears strike back? – Special Report

Posted on December 21, 2022 at 7:40 am GMT

Equity markets suffered a bruising year, crushed under the boot of rising interest rates and fading government spending. This weakness could extend into next year, as US valuations remain expensive by historical standards and leading economic indicators suggest a recession is a real possibility, spelling downside risks for corporate earnings. The good news is that every crisis passes, and any serious selloff might simply offer long-term investors more attractive entry points. Inflation vs recession It’s been a troublesome year for [..]

Technical Analysis – JP225 index slides; momentum indicators keep the door open for further sell-off

Posted on December 20, 2022 at 10:12 am GMT

The JP225 cash index is trading at the lowest level since October 3. Actually, today’s move is the strongest drop and the widest intraday range seen since June 16. From a long-term perspective, using the weekly chart, the picture has not changed dramatically. The JP225 index continues to trade within the 24,682-29,222 range despite some bearish flavour coming from various momentum indicators. Moving back to the daily chart, the acute drop in JP225 has caused the momentum indicators to turn bearish. [..]

Technical Analysis – US 30 index keeps focus on the upside

Posted on December 14, 2022 at 4:04 pm GMT

The US 30 index (cash) trimmed a large part of Tuesday’s rally to close back below the 61.8% Fibonacci retracement of the January-October downtrend at 34,275. Despite the pullback, the technical signals remain encouraging. The price has bounced on the 20-day simple moving average (SMA) and the 34,000 psychological mark to trade higher again. The progressing golden cross between the 50- and 200-day SMAs is raising hopes for an uptrend resumption. Meanwhile, both the RSI and the stochastics are strengthening in [..]

Technical Analysis – Adobe stock struggles to clear 350 resistance level

Posted on December 14, 2022 at 3:23 pm GMT

Adobe stock has jumped above its long-term descending trendline, although this may have been a false breakout as the positive momentum has already started to fade. Subsequently, the price is facing a fresh obstacle at the 100-day simple moving average (SMA) around 345. The stochastic oscillator seems to be headed towards a bearish crossover of the %K and %D lines, while the MACD histogram has yet to rise above its red signal line after the latest recovery in the price [..]

Nasdaq plays catchup after soft US CPI and Oracle earnings add to optimism – Stock Market News

Posted on December 14, 2022 at 10:37 am GMT

Wall Street is making a fresh dash upwards ahead of key central bank decisions, starting with the Fed on Wednesday. The softer-than-expected inflation report out of the US has injected renewed optimism, which was already building up from the positive headlines around China’s reopening and some impressive earnings from Oracle. But how sustainable is this latest rebound? Dow Jones jumps back above 34,000 The Dow Jones has been outperforming the broader market for the last couple of months now and [..]

Technical Analysis – Is Facebook preparing for a bullish reversal?

Posted on December 6, 2022 at 2:09 pm GMT

The Facebook stock edged south after breaking below the lower bound of the sideways range that contained the price action between June 10 and September 13. The slide found a bottom at 87.00 on November 3, as thereafter the stock formed a higher low on November 28. What’s more, on the first day of December, investors took the price above 118.00, confirming a higher high and the completion of a failure swing bottom. Although this is usually considered a trend reversal [..]

Technical Analysis – US 500 index stands above the 200-day SMA but for how long?

Posted on December 5, 2022 at 10:08 am GMT

The US 500 index is losing some momentum after an aggressive buying interest above the 200-day simple moving average (SMA) and the 4,000 round number in the preceding week. Technically, the RSI indicator is moving lower in the positive region, while the MACD is edging sideways near its trigger line and above the zero level. Both are suggesting a bearish correction. On the other hand, the 100- and 50-day SMAs are heading upwards, suggesting that the next movement would be [..]

Stocks gain on Powell dovish remarks, outlook remains cloudy – Stock Market News

Posted on December 2, 2022 at 3:07 pm GMT

Major US indices realised broad gains on Wednesday after Federal Reserve Chair Jerome Powell reaffirmed that the Bank will most probably slow down the pace of its aggressive monetary tightening. Moreover, risky assets got an additional boost after China announced that it will soften some Covid-19-related restrictions. However, many market participants endorse that the latest upswing in equity markets is bound to fizzle out soon as recession fears have not yet been fully priced into corporate valuations. Is this the case? Stocks extend rebound [..]

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