Market commentary and market analysis. This is really my view, sometimes…
Last week, I had the pleasure to be back on the air with Dale Pinkert and the Forex Analytix Community Experience (F.A.C.E.) audience. We talked all things sterling as we always do. But I also spoke on persistence and patience in trading (especially in this market environment) as well as my thoughts on equity markets as we head into the end of the year.
Check out the full interview below. Enjoy!
The face-off between the $AAPL bears may soon come to an end due to trade wars. In September, we saw a future fall in $AAPL shares. The fall in price was about 4500points before finding a new support at 170.48. The fall between October and November made $AAPL to lose 78.89% of its gain made in 2018. The second half of the year has been full of volatility in the $AAPL shares price movement.
Price undoubtedly has been oversold on the RSI, showing that sellers have been relentless. But this may be a good time now for $AAPL bulls. Price has broken out of the trendlines, and might likely reach 210.60 from 178.19. Before the end of the year, about 3000points might be gained back out of the total points lost if more buyers become active. $AAPL has been considered one of the cheapest stocks now after the oversold position was reached. This might be the right time for investors to take a position in $AAPL.
Source: These 3 Value Stocks Are Absurdly Cheap Right Now. (NASDAQ)
The Exxon Mobil shares in 2018 has been of low volatility with several higher lows and lower highs. Price of $XOM had initially broken support in February leading to a fall in price. The highest point of $XOM price in 2018 was at 89.32 which was in February; then the bearish movement made price to reach 72.71, the lowest level in the year. The highest rate of volatility of $XOM shares was in the first quarter of the year. Price action shows a long range in price from April to mid September. Both the bullish and bearish movement within the range period were between 700points. The second resistance level in the year, 87.51 was only reached once in September after a bullish movement broke out from the range.
In September, when the price of $XOM reached an overbought position on the RSI, a reversal began. This reversal gave rise to price breaking the support level at 81.88. Price has since then been in the lower region of the Bollinger band. Price tried to retest back to the middle Bollinger band line which also stands as the resistance level. Price of $XOM is currently at 78.45, showing a trace of a bullish movement from the last 3 trading days. A breakout of the resistance level 1 at 81.88 could lead to a continuous bullish movement which might eventually reach 87.51. Investors might decide to go long on the $XOM since price is around a major support level in the year.
In 2018, General Electric has suffered a setback in its share price. The highest point $GE reached this year was at 19.27 in the first two weeks in January. Since then, the bears have secured about 1200points in the year. We previously analysed a fall in share price of $GE. It has since found a new support. The fall between October and November alone was at an average of 25.69% of the total fall in the year.
Taking a good look at the $GE daily chart, there is a breakout of price from the trendlines as price consolidates. RSI shows an oversold position. Ichimoku is yet to show a reversal from the bearish trend. As the year comes to an end, the bulls might want to resume active roles. In over two decades, $GE has maintained a support around 7.92. If the support level holds again, price might reach 11.23. A breakout of the resistance level above 11.23 might lead to a continuous uptrend.
After a experiencing a huge fall early in the year, the price of $PG gained momentum for a rise in June. Since June, it has all been bullish for the $PG shares, moving over 2000points in 2018. Just two weeks ago, the price of $PG reached 94.88, the highest point in the year. Though a bearish movement occurred in the second week of October for a short while, the bulls took over again. Price is yet to be oversold due to the active roles of the bulls.
Unlike many other stocks, $PG finished October with the bulls in charge. Price is currently at 91.94. After the new high of 2018 was reached, a reversal has begun indicating a bearish move in $PG. Price is yet to cross the lower region of the Bollinger band. The Ichimoku too shows a bullish future. However, a breakout to the downside has occurred from the trendlines showing the beginning of a correction. RSI indicates an overbought position which has previously occurred at three different instances. Though $PG outperformed this year, price action now signals a consolidation period that could lead to losses.
Source: Why Procter And Gamble Is Now All The Rage On Wall Street (NASDAQ)
Price movement of IBM for the most part of 2018 has been ranging. A major downtrend began in September to the last week of October. In October, price of $IBM shares reached 114.05, the lowest level in the year. The last time priced reached this level 114.05 was in May 2010. The highest level $IBM stock reached this year was in January at 170.25 level. Since then, RSI has never been overbought like it did in January. Since the beginning of November, the price has only moved from 115.58 to 124.98. This little bullish movement has given hope to the IBM bulls.
A new CEO will resume office in December 3. This was announced by Nielsen Holding Plc. The new CEO has been a member of IBM. Price is currently around 118.26 and might go upward to reach 129.27. RSI has shown an oversold position on the platform giving a signal for a possible buy. A breakout upward also occurred from the trendlines. All these indicators except the Ichimoku show that the bulls might take charge soon. As the year is coming to an end, and as the new CEO resumes office, share price might just maintain a bullish movement till the New Year. $IBM stock in 2018 has not been too favourable to the bulls but the latter part of the year might change the case.
Source: Nielsen Names IBMs David Kenny New CEO (MarketWatch)
The market value of $FDX showed a trace of reversal this week after maintaining a bullish movement for the past two weeks. Price touched the support level in the latter days of October since August 2017. Just like many stocks had a bearish turn in October, $FDX also had. The all-time high this year was in January when price was at 274.69. Price movement of $FDX in 2018 is between 274.69 and 208.02.
Since September, price has maintained the lower section of the Bollinger bands. Ichimoku shows the future is also on a downtrend. But RSI shows despite being on a downtrend, it is oversold, preparing for a bullish turn which temporarily occurred. A bearish breakout also occurred from the trendlines showing the continuation of the downtrend. News reaching me shows $FDX is about to raise ground and home delivery rates starting from January 7, 2019. The new shipping rate will increase by an average of 4.9%. Price is yet to cross over to the upper region of the Bollinger bands. Therefore, the bears are still in control of the $FDX stock.
Source: MarketWatch-(Fedex To Raise Ground, Home Delivery Shipping Rates Starting January 7)
In the year 2018, $WMT share price has been stable for the most part with a few volatile moments occurring in price movement. The all-time high of $WMT was in January when price was at level 109.79. Price had dropped since then to around 81.82 which stands as a major support level for the year. Unlike other stocks in October, $WMT broke out of a ranging market to begin an uptrend. Before the upward breakout in October, there was a bullish signal in August.
The RSI on the daily chart showed an initially overbought position and now in November, showing another overbought position. Since price crossed over to the upper region of the Bollinger band in June, it is yet to cross to the lower region. In the early days of October, price touched in the middle line of the Bollinger bands. If the support level is broken, it might trigger a major sell off for $WMT stock. The bearish movement might reach 88.94 from 101.33. Indications show a strong bearish movement might occur. For now, we will wait to see what price will do.
$GOOG has found support at 1001.23 on the 29th of October. The bears have been in charge of this stock since the first week of September. Price action this year shows support level at 1001 was not broken. Share price of $GOOG fell about 3.5% this week. Since a major downtrend began in October, share price of $GOOG has dropped 14.2%. Price has maintained the lower region of the Bollinger bands since September. It’s like all the gains of $GOOG in 2018 were lost between September and October.
RSI on the daily chart signals an oversold region. Taking a look at the trendlines And B, price closedabove the trendline B on the 7th of November. Presently, price is retesting at a major support indicating a reversal. Price might touch the resistance level at 1123.23 this month. Ichimoku shows a downtrend and no trace yet. If price retraces but holds the expected resistance level at line C, $GOOG may continue the downward trend.
This year, $SNE has been in an uptrend. In June, the price of $SNE was clearly moving in the upper region of the Bollinger bands for over 1000 points. In September, it found resistance at 60.99, the all-time high from April 2007. Then the early days of October brought about a sharp downturn of about 800 points.
A breakout from the trendlines has occurred, which may signal a bullish movement. Price still maintains the lower part of the band despite the breakout. The Senkou span of the Ichimoku shows a downtrend. RSI indicates an oversold position in the market. Price might reach 58.19 from 55.26 as at the time of this writing. Sony is expected to make a big profit jump due to their winning game strategy. A breakout from the expected 58.19 level could make $SNE resume the upward trend.
Source: Sony Forecasts Big Jump To Record Annual profit On Winning Gaming Strategy-(Reuters.com)