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Technical Analysis – US 500 index might hit lower levels after Tuesday’s slump

Posted on May 1, 2024 at 2:49 pm GMT

US 500 index exposed to more downside after Tuesday’s pullback Short-term risk is negative. Will the bears crack the floor at 4,965-5,000? The US 500 stock index (cash) traded flat at the start of the US open as investors waited for the FOMC policy announcement today at 18:00 GMT. Despite the current muted tone in the market, the short-term outlook does not look promising, especially after the price got hammered near the resistance line from April’s record high for [..]

What do Q1 earnings hold for Disney’s stock? – Stock Markets

Posted on May 1, 2024 at 10:48 am GMT

Walt Disney reports earnings before Wall Street’s opening bell on May 7 Solid profit growth is expected despite a minor revenue jump Stock price experiences a pullback amid an overall strong 2024 performance Impressive start to the year After lagging against the broader market for the past three years, Disney’s stock has started the year on a firm note, outperforming major US indices. To give more context, Walt Disney is the second-best performing stock within the elite club of the Dow Jones [..]

Technical Analysis – Is US 100 setting course for new record highs?

Posted on April 30, 2024 at 12:28 pm GMT

US 100 enters recovery mode, stays above uptrend line MACD and RSI suggest that momentum may turn positive A break above 18,350 will take the index into uncharted territory A break below 15,700 may turn the broader outlook bearish The US 100 cash index entered a recovery mode last week, after hitting support near the 16,980 zone. Overall, the index is trading above a long-term uptrend line drawn from the low of January 6, 2023, as well as above its [..]

Technical Analysis – Apple stock bounces off 1-year low

Posted on April 29, 2024 at 1:01 pm GMT

Apple stock has been in a steady downtrend in 2024 But rebounds from 1-year bottom ahead of earnings Momentum indicators remain neutral-to-negative Apple’s stock has been very volatile in 2024, opening frequently with significant price gaps. In the short term, the stock fell to a fresh one-year low of 163.90 on April 19 before paring some losses ahead of the Q1 earnings report on Thursday. Should the rebound resume, immediate resistance could be found at 172.75, which is the 78.6% Fibonacci [..]

Technical Analysis – US 500 cash index is in the green ahead of the Fed

Posted on April 29, 2024 at 7:08 am GMT

US 500 index is edging higher, a tad below the 50-day SMA Bulls are feeling more confident following strong tech earnings Momentum indicators are mixed at this stage The US 500 cash index is trying to record its third consecutive green candle today as the bulls are probably feeling relieved following the recent strong tech earnings and the lack of a significant upside surprise in last week’s PCE report. The US 500 index is apparently preparing to test the 50-day simple [..]

Will Apple finally drop its AI hint? – Stock Markets

Posted on April 26, 2024 at 12:10 pm GMT

Apple expected to publish gloomy Q2 earnings on Thursday May 2 after the bell Investors widely expect AI updates, but Apple has more important events on the calendar Apple stock on the back foot Apple’s stock has had minimal gains, only to fall again this year, and is now on track to end its fourth straight month in the negative region. When compared to the S&P 500 community, the iPhone maker lags behind top tech performers such as Nvidia and Meta [..]

Amazon earnings set for AI-driven cloud and ads boost – Stock Markets

Posted on April 25, 2024 at 10:11 am GMT

Amazon.com will unveil its Q1 results on Tuesday after the market close AI will be front and centre, both for actual results and for future plans But will investors be impressed amid a pullback in the stock? Q4 set the bar high Amazon’s share price skyrocketed after it announced its Q4 earnings back in February, pulling the broader uptrend a leg higher. Sales were boosted by a bumper holiday season and ads revenue also soared. But growth in its cloud [..]

Technical Analysis – US 100 index weakness lingers

Posted on April 25, 2024 at 7:46 am GMT

US 100 cash index is in the red, a tad below the 100-day SMA Market sentiment remains bearish ahead of key US data Momentum indicators mostly bearish; all eyes on the stochastic The US 100 cash index is in the red again today, trading a tad below the 100-day simple moving average (SMA) and around 6% lower from its recent all-time high. Despite the moderately positive earnings round, the market momentum remains negative ahead of some key US data prints that [..]

Technical Analysis – Alphabet stock is buoyant ahead of earnings

Posted on April 24, 2024 at 2:27 pm GMT

Alphabet shares surge to consecutive all-time highs Momentum indicators are approaching overbought zones This poses asymmetric risks for the upcoming earnings report Alphabet’s shares have been in a steady uptrend since October 2022, posting a fresh all-time high of 161.65 on April 12. Despite a minor downside correction, the price has been advancing again ahead of the Q1 earnings announcement on Thursday. To the upside, stronger-than-expected financials could propel the price towards the recent record high of 161.55. Surging to [..]

Technical Analysis – Meta stock falls below 50-SMA ahead of earnings

Posted on April 23, 2024 at 2:39 pm GMT

Meta stock pulls back from its all-time high Violates the 50-day SMA ahead of Q1 earnings call Momentum indicators turn negative Meta’s (Facebook) stock has been in a steep uptrend since the beginning of the year, posting a fresh all-time high of 531.00 on April 8. However, the pair has come under selling pressure following its recent record peak, with the bears pushing the price below the 50-day simple moving average (SMA) ahead of its Q1 earnings. If the earnings report [..]

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