Technical Analysis / Page 383

Technical Analysis – Apple consolidates somewhat but readies for a positive boost

Posted on April 26, 2021 at 1:53 pm GMT

Apple’s stock price appears stuck within a minor range but is making efforts to overstep the 134.85-135.44 resistance band. The climbing 50-period simple moving average (SMA) is nearing a bullish crossover of the 200-period SMA, while the 100-period SMA has surrendered its negative slope and has already started endorsing the positive picture with its flattening demeanour. The static Ichimoku lines are reflecting a pause in positive impetus, while the short-term oscillators are suggesting bullish sentiment is battling to gain the [..]

Technical Analysis – Microsoft stock poised for a breakout ahead of earnings

Posted on April 26, 2021 at 10:51 am GMT

Microsoft Inc stock had its best month in almost a year, surging by 10.5% to top at a new all-time high of 261.50 on Thursday. The bullish fuel, however, seems to be running low according to the technical picture, suggesting that the recent tight range-bound trading could result in a downside correction. Specifically, the RSI seems to be making lower lows below its 70 overbought level, while the MACD is set to slip back below its red signal line. Traders [..]

Technical Analysis – EURUSD reaches the light at the end of the tunnel

Posted on April 26, 2021 at 8:22 am GMT

EURUSD is tackling the 1.2112 high after thrusting above the flattening 100-day simple moving average (SMA), which was recently capping gains of the pair’s rally off 1.1703. The 100- and 200-day SMAs are still sponsoring the bullish picture, while the negative bearing of the 50-day SMA has somewhat subsided, giving additional credence to the recent price ascent. The Ichimoku lines are reflecting growing positive momentum, as are the short-term oscillators, which are skewed more to the upside. The MACD, in [..]

Technical Analysis – Gold seeks to pivot near trendline; bulls still in charge

Posted on April 26, 2021 at 8:00 am GMT

Gold reversed south to seek support near an ascending trendline after last week’s bullish action waned marginally below the 1,800 level. The technical indicators reflect that the bulls remain in charge despite the latest negative correction. The red Tenkan-sen line keeps deviating above the blue Kijun-sen line, while the RSI, although weaker, holds comfortable above its 50 neutral mark. Likewise, the MACD has lost steam, but its upward direction is still intact within the positive area. Notably, the progressing bullish [..]

Technical Analysis – US 30 index consolidates around its highs; retains bullish tone

Posted on April 23, 2021 at 1:28 pm GMT

The US 30 stock index (Cash) seems caught within a minor ranging market after retreating slightly below its all-time high of 34,251. The simple moving averages (SMAs) are shielding the broader bullish bias; however, the flattening Ichimoku lines are reflecting the evaporation of directional momentum. The short-term oscillators are transmitting conflicting signals in sentiment but are slightly skewed to the downside. The MACD is below its red trigger line and is heading lower in bearish territory, while the sustained negative [..]

Technical Analysis – Tesla works to retain an optimistic tone

Posted on April 23, 2021 at 12:16 pm GMT

Tesla’s stock price is attempting to pierce below the 200-period simple moving average (SMA) after the stock’s recent improvements from 588 until 782 have continued to gradually dwindle. The upturn of the 50-period SMA, which is now nearing a completion of a bullish crossover of the 100-period SMA, is suggesting buying interest could return to refuel an upside tendency. Presently the Ichimoku lines appear unable to distinguish a clear price direction, while the short-term oscillators have identified a price preference [..]

Technical Analysis – GBPJPY tries to repower positive bearing

Posted on April 23, 2021 at 8:31 am GMT

GBPJPY has dipped below the 50-day simple moving average (SMA) and into the Ichimoku cloud but is struggling to break below the 149.50 level, which happens to be the 23.6% Fibonacci retracement of the up leg from 136.95 until 153.40. The advancing SMAs are defending the uptrend, which kicked off on December 21 from 136.95. The neutral Ichimoku lines are reflecting relatively weak price action after the pullback from the 35½-month high of 153.40, while the short-term oscillators are favouring [..]

Technical Analysis – GBPUSD gains positive traction near 200-SMA; upside move fragile

Posted on April 23, 2021 at 7:51 am GMT

GBPUSD returned most of its weekly wins, but the bullish breakout above the descending channel remains valid, with the pair currently pushing for a rebound near the 200-period simple moving average (SMA) on the four-hour chart. The recent golden cross between the 50- and 200-period SMAs is an encouraging trend signal, though in terms of momentum, the picture is still muddy as the MACD is stepping into negative waters and the RSI has yet to cross above its 50 neutral mark. For [..]

Technical Analysis – NZDUSD fights with 20-period SMA below 0.72

Posted on April 23, 2021 at 7:50 am GMT

NZDUSD has gained little today, but it managed to hold below the 20-period simple moving average (SMA), with the technical indicators feeding prospects for a positive short-term trading; the RSI holds well above 50, while the stochastic oscillator continues to strengthen. Also, in Ichimoku indicators, the red Tenkan-sen line stands above the blue Kijun-sen. A successful bounce above the 20-period SMA could send the price up to 0.7228, a challenging point over the last month. On top of that, the bulls will need to clear the 0.7267 [..]

Technical Analysis – USDCAD fluctuates above 1.25; neutral bias persists

Posted on April 23, 2021 at 6:43 am GMT

USDCAD has been in a horizontal movement over the last month, developing within the 1.2500 handle and the 1.2645 resistance. The 20- and 40-day simple moving averages (SMAs) are acting as mid-levels of the range as the price goes back and forth. The flattening mode is reflected on the technical indicators as well. The RSI is holding in the negative territory with weak momentum, while the MACD is moving sideways around the zero level. If a decline below the 1.2500 handle develops, [..]

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