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Should I Buy More or Sell My Apple Share?? What Do You Guys Think?
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By AdrianaLowe
The theme over this last trading week has been one of remarkable resilience. After breaking down from key resistance levels, it seemed that a period of consolidation would follow. But, globally, markets instead rallied with conviction to retest their highs.
I have been sceptical about the sustainability of the rally this year. But one of the most fundamental axioms of surviving the markets is to trade what you see, not what you believe. And what I am seeing is markets that seem to want to push higher across the board, with individual stocks holding up well even when faced with bearish news.
S&P 500
(credit: chart from Sigma by Hydra X)
The S&P closed the week strongly at 2,822.48, up 0.5% on high volume, and on the back of its biggest weekly gain since November 2018. US markets seem insistent on forging a path higher despite the overhang of earnings, macro economy news, North Korea, and ongoing China trade talks. I still wait for price to break and close clear of the congestion zone around 2,800 before entering longs, but this looks increasingly like a environment where the only rational positions to take are either to be flat or long.
MICROSOFT
(credit: chart from Sigma by Hydra X)
Gains this week were led by tech, with the sector surging 4.9%, and also becoming the best performing sector of 2019. I find MSFT interesting, having completed a bullish inverse head and shoulders pattern, rallying in a tight rising channel, and strongly testing resistance (and also its all-time highs) on high volume. But a spinning top candlestick in the midst of overhead resistance, and a bearish stochastic crossover which in overbought territory could translate into a pullback, which could provide interesting entries for longs.
TESLA
(credit: chart from Sigma by Hydra X)
A good litmus test for market sentiment is how stocks behave on news. Tesla has held on to $275 support despite its Model Y unveiling event underwhelming analysts; BAML, CFRA Research and Canaccord Genuity all issued cautionary notes. If it gets there, $260 looks to be strong support for a countertrend rally.
BOEING
(credit: chart from Sigma by Hydra X)
Boeing continued to suffer the aftermath of the latest tragedy, ultimately having to suspend its entire fleet of 737 MAX planes when the FAA finally followed the lead of global aviation authorities in grounding the plane. Deliveries of the 737 MAX have also been paused. The beleaguered company faces an indeterminate outcome from investigations, bills from airlines affected by the grounding of the plane, as well as potential suits from the families of victims. On Thursday, the US Air Force joined the party. It launched a blistering attack on Boeing, saying that the company has a ‘severe situation’ after flawed inspections of their KC-46 air refuelling tanker aircraft, and questioning the company’s ‘culture of discipline for safety’. [https://www.cnn.com/2019/03/14/politics/air-force-boeing-refueling-plane/index.html] Despite all this, the stock has proven remarkably well supported at $370, repeatedly rallying from those levels on high volume.
FACEBOOK
(credit: chart from Sigma by Hydra X)
No company has had a worse week than FB, even within the context of its bad year. The week started with a proposal by Senator Elizabeth Warren to break up FB, was followed by a network outage affecting its Facebook, WhatsApp and Instagram services, and then announcements of a widening federal criminal probe into its data sharing practices. Two key executives, Chris Cox and Chris Daniels also announced their departures from the company. A nadir was reached when its Facebook application was used to livestream the hate-driven massacre of 49 people in New Zealand.
Technically, the stock has broken below the bottom of its ascending channel, and key overhead resistance in the $170-173 region looks daunting. There is also a huge gap from Feb 2019 waiting to be closed.
Yet in spite of the weak technical picture and the deluge of negative news, FB closed just 2.13% down for the week, and ended the trading session on Friday well above the lows of the day, forming a bullish hammer. While I have been waiting for a clear break in one direction or the other for a while, as rising channel met overhead resistance, I choose to stay as interested spectators for now.
EUR/USD
(credit: chart from Sigma by Hydra X)
Finally, last week I noted the technical breakdown of key support levels in the EURUSD, in conjunction with fundamentally bearish news in the form of Draghi’s dovish speech. However, I was keen to stay on the sidelines, given past experience of how crowded trades tend to turn out. EURUSD didn’t disappoint, as it promptly rose in a stop-hunting rally, which would have trapped any short entries in a very uncomfortable position.
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By Stocks4life · Posted
CARA Therapeutics stock breakout at https://stockconsultant.com/?CARA -
By Stocks4life · Posted
TGTX TG Therapeutics stock finding some support with high trade quality at https://stockconsultant.com/?TGTX -
By Stocks4life · Posted
KRYS Krystal Biotech stock with a continuation breakout, good volume 40% above normal at https://stockconsultant.com/?KRYS -
By HFblogNews · Posted
Date: 26th July 2024. The Yen Soars as the Likelihood of a BoJ Rate Hike Rises! The Japanese Yen wins back some lost ground as global Central Banks edge closer to rate cuts. The probability of another interest rate hike by the Bank of Japan increases. July’s best performing currencies are the Japanese Yen (+4.35%), British Pound (+1.41%) and the Swiss Franc (+1.41%). Currencies are taking advantage of the weaker US Dollar, but the worst performing currency remains the New Zealand Dollar. USDJPY – Growing Likelihood of a Second BoJ Rate Hike! The USDJPY increases in value for a third consecutive week and for a fourth consecutive day. Three factors are contributing to the Dollar decline: The Fed’s upcoming interest cut, the Bank of Japan’s interest rate hike and the political uncertainty in the US. The day’s best performing currency is the Japanese Yen which is currently increasing in value against all currencies. Currently, the USDJPY is trading below the trend-line and below the 100-Period SMA which indicates in the medium-term sellers are controlling the price actions. The exchange rate is also below the neutral on all oscillators and forms a clear bearish trend price pattern. Currently the only indications pointing towards a loss of bearish momentum is the diversion formed on the RSI. As a result, even though the trend clearly forms downwards, investors need to be cautious of a potential retracement. If the price trades above 152.96, a larger retracement becomes likely. However, if the price falls below 152.015, momentum will indicate the continuation of the downward trend to 151.674 in the short term and 151.267 thereafter. The likelihood of further monetary policy tightening by the Japanese regulator is growing. Preliminary data for July showed an increase in business activity, indicating a recovery in the national economy. The consumer price index remains above the target level, reaching 2.8% in June, with the core indicator stabilizing around 2.6%. Officials are optimistic about maintaining these high levels, supported by significant wage increases. According to Reuters, Bank of Japan officials will discuss the possibility of raising the interest rate at their meeting on July 31st. Analysts do not expect active measures until after the summer months. However, investors will price in the adjustment before the decision takes place. The US Fed experts may turn to “dovish” rhetoric in September, which puts pressure on the dollar. Currently, inflation is slowing growth, business activity is declining, and the labor market is showing signs of cooling. The US PMI data from yesterday largely triggered an attempted bullish correction but was viewed as mixed. The price action of the US Dollar and the USDJPY will now largely depend on the Gross Domestic Product and Weekly Unemployment Claims. These will be made public at 12:30 GMT. Analysts expect the US economy to grow 2.0%. If the US GDP reading is lower than expectations, the US Dollar potentially can come under pressure. At the same time, weaker earnings data from the US can trigger higher demand for the Japanese Yen. The Yen is known as a safe haven currency alternative to the Dollar. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Michalis Efthymiou Market Analyst HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission. -
The cheat is on ! ... just sayin’. This cycle it only needs to occur in 2 states, and in those 2 states in only 14 precincts... the organized ‘machines’ for these cheats have been in been in place for decades... And here’s a tiny counter balance to a massive psyop narrative being perpetrated 24 7... as predicted the "entertaining ourselves to death" show is on full blast with the media re-creating Kasmella Devil as a firebrand ‘gettrdone’ kind of woman. In reality, she is not a leader. At work, no one wants to work for or with her or negotiate with her. For this potus application - worse she is just a follower... a whore who is putty in the hands of the exploiters who ‘own’ her... the same ppl who owned and ‘managed’ Joe. She is just a team member of probably the most corrupt, evil administration in history. She is only good for regurgitating whatever narrative is handed her - until very recently how superbly fit Joe is, how the border was visited and secure, etc. etc. She is not in charge of her vp office and duties... and now she will not even be in charge of her own party or campaign... she’s simply not sufficiently competent. As AG of CA she was a puppet who nudged along the social engineering policies that made that beautiful state the ugly mess it is today - esp the cities. And, btw, by Willie fkng her way to the top, she has placed herself in a position where she can’t really get too deep into calling Donald a predator...cause she’s ‘paying’ as a ‘victim’ / being paid off the same way as Stormy... whoa. .. and lest you are ready to stereotype me and my positions - In my view, this election is not about preventing the decline of the USA. That decline trajectory was established many decades ago and stabilized by the mid 1970’s. There is no making America great again. This election is about either hastening the end or tapping the brakes a little bit on the inevitable decline of the USA. So - if you think her promises that the “middle class is our main priority” are real or if you think America is 1 man away from greatness again, well I have a finely designed bridge in Baltimore for sale ... best offer...
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