fbpx

Tag: $NYSE

Posted on

Tesla On A Downtrend

In July 2020, Tesla share price began a bullish movement from $322.61 to reach an all time high at $900 in January 2021. Price of $TSLA was in a range in January 2021 until the bearish movement started in the early trading days in February 2021. The dip from the all-time high at $900 brought price to $537.37 in March. A major support at $537.37 was reached due to the bearish movement. Not long after the price consolidation in March 2021, the $TSLA bulls started to push price higher, thereby creating higher lows and higher highs.

RSI indicates an overbought position on the 4hr time frame. Using the Trendline 1 and Trendline 2 for further analysis, price had to break the resistance level to the upside at $736.58 in Trendline 1, though the breakout could be a fake one. Trendline 2 is the support level after the dip which had support prices both at $539.57 and $600. The support level at $539.57 was the lowest price level $TSLA reached in 2021. Last week, there was an up-rise in the price of $TSLA, which made price of $TSLA to reach $780. There are other indications that could make the price of $TSLA fall to reach a new support level at $661.57. Buying $TSLA on a long term should be a good deal.

Posted on

Hewlett Packard Might Gain Momentum Despite Trade Wars

This year has been a smooth year for $HPQ holding on to a bullish trend until the first week of this month when a sharp bearish movement started. This price movement touched the resistance level and couldn’t stay above it. Price retraced itself downwards touching the middle band line, further breaking the line until price touched the lower band line. Over one week, the price of $HPQ has been in a range hoping for a breakout. $HPQ has decided to boost their presence in the printing market through innovations which could drive the share price higher.

RSI undoubtedly was overbought before the bearish movement. Now it has shown an oversold position again preparing for a bullish movement. Price is at level 23.33 and could move higher to 26.30, still maintaining the resistance level. The all-time high price in $HPQ is at the highest resistance level. Price first touched this point in July 2000.

Source: HP Upgrades Sprocket To Boost Presence In Printing Market (NASDAQ)

Posted on

Microsoft Price Couldn’t Break The Support Level

The unfortunate death of Paul Allen prompts a look at $MSFT. Allen’s $MSFT has enjoyed a smooth ride on a bullish flow this year reaching an all-time high in the stock market. The bullish movement brought about multiple higher lows in price movement. Companies like Apple and Amazon have had a good year so far for long-term investors. Price of $MSFT has reached overbought positions twice this year on the weekly chart. Instead of a change of trend downwards, price continued higher to the 116.00 level before a downward trend began. This move couldn’t break the support level. Price rallied off the support level.

A bullish breakout occurred from the trendlines, which might be a good opportunity to buy $MSFT. RSI has not showed an oversold position on the weekly chart. Ever since price broke out the 105.12 level, price has never gone below this level. The future of Ichimoku also shows a bullish future. The bullish trend is expected to continue.

Source: Microsoft Co-Founder Paul Allen Dies of Cancer At Age 65(CNBC)

Posted on

Walt Disney Consolidates Again At A Resistance Level

Walt Disney maintained a major resistance level around 122.00 in 2015. Recently, price was in a range on the daily chart for two months until an upward breakout occurred. In the first week of August, price of $DIS was around 117.45. Technically, price has formed a double top which might bring about a new downward trend. If $DIS price doesn’t continue the upward movement, an obvious reversal might result to price moving from 118.03 to about 108.00 Also, if price breaks out upward and goes beyond 122.00, a new resistance level will automatically be formed.

RSI previously showed price was overbought in August. Price touched the resistance level and pulled back for a correction off the highs. Also, price broke out from the trendlines A and B, so a downward movement has begun. This downward price action might be a fake out, Watch for the resumption of the up trend around 118.03 when price closes upon the resistance level.

Posted on

Buyers Are Optimistic In The Growth of SPX

Stocks in the $SPX are yet to relax in the uptrend this year. A buy in the first quarter of the year could have resulted into meaningful gains by now. Howbeit, for the past 3 weeks, price has been in a range on the weekly chart. Last week, $SPX got to the highest price level ever. This is highly profitable for long term shareholders. Despite reaching an initial overbought point in January 2018, price has refused to fall. Instead momentum for an uptrend increases. $SPX was a bit above $2,930.00 last week. Price of $SPX might reach $2,990 before a complete change of trend.

Analysis with the weekly chart technically shows Ichimoku has a future uptrend. Price maintains the upper region of the bands. Price, after breaking out from the downtrend, is yet to be overbought. Price broke out from the support level last week and tried to retest on the line before a new breakout in the upward direction occurred this week, which might indicate a continuous uptrend.

Posted on

Share Price of Coca-Cola May Fall

The share price of Coca-Cola reached a new high of $47.00 in September since January 2018. This major uptrend started in May 2018 gaining about 600 points. $KO are now in talks over cannabis-infused drinks. The company’s plan for this, is to reduce pain, not intoxicate consumers. This might lead to $KO losing some of its loyal consumers. $KO is known mostly for its soft drinks. Even adding a bit of drugs like cannabis could discourage regular buyers from drinking $KO products. Being a global brand with competitors, $KO will have to monitor its goodwill which has appreciated over the years.

A breakout already occurred from the trendlines, making the price of $KO to depreciate. $KO might lose 400 points in the weeks to come. This could be caused by the release of the cannabis-infused drinks. Price has not been able to move above the resistance level before relinquishing strength. Price has touched the upper band at least twice and never touched the lower band. Price might touch the lower band if a downtrend resumes. RSI indicates an overbought share price of $KO. Price has not been able to move itself to the upper section of the band. Sellers could take over the market of $KO.

Source: Coca-Cola ‘In Talks’ Over Cannabis-Infused Drinks(BBC)

Posted on

AMAZON LOSES GRIP

Only Amazon and Apple have been able to achieve a market cap of $1Trillion. Upon this achievement, there have been several issues around $AMZN based on new tariffs by President Donald Trump. $AMZN shares have been falling bit by bit due to tariff imposition announcement. Investors might be having double mind in investing in the $AMZN shares. I see the trade wars escalating because of the 25% tariff on imported goods on January 1st.

The candlesticks are forming a head and two shoulders which typically means a downward trend is about to begin. RSI shows price has been overbought at two different times. Price has been consolidating for the past 6 weeks at the same resistance level. Trade wars are obviously affecting the share price of $AMZN negatively. The share price of Amazon might fall heavily after the tariff news is released.

Sources: Reuters America Global Markets New US. Tariff Threat On Chinese Goods Hits Stocks, Dollar ( CNBC)

US China Trade War Trump to Propose 25percent tariff on Chinese imports(CNBC)

Posted on

General Electric Share Price Drops

General Electric recently had a problem with the electrical power plant in Texas. Similar problems might develop with its other units. Four power turbines in the U.S. were shut down because of oxidation. Though, the turbine powers many homes; hopefully this problem will not persist.

During the next earnings call, $GE should guide against re-occurring of power problem affecting many of its plants. If the problem persists, $GE might pay and sacrifice alot before recovering. There is competition already in the power market, with the likes of Mitsubishi and Siemens. Despite two oversold point on RSI, momentum for a fall in share price increases. As a result of the released news, $GE share price fell and rallies in the lower section of the band. Buyers might not be trading soon.

Source: General Electric Confirms Blade Problem At New Texas Power Plant-(Moneycontrol.com)

GE Says Four Of Its Flagship Power Turbines Are Shut Down In The US. –(NASDAQ)

Posted on

Goldman Sachs Might Be Attractive To The Bulls

Towards the end of August 2018, Goldman Sachs has been losing points. The CEO, Lloyd Blankfein, has submitted his letter of resignation which probably brought down the share price of $GS in August. The confidence of shareholders was shaken by the resignation news. Nevertheless, a new CEO was appointed, with the name David Solomon. Now $GS has decided to buy Turkish and Argentinian government debt. That is indeed a milestone. But it is a high bet on the worst-performing emerging markets.

Investment in emerging markets should bring about high yields. The RSI has a directional change to the buy region, showing a trace for the bull gangs to be active. There is an obvious breakout of the two trendlines upward and the RSI is neither oversold nor overbought. The momentum on the breakout might not be much, but at least it might be a good deal for buyers. Price is already at the upper region of the bands. Buyers should be ready only if it is just a trick by the sellers.

Source: Goldman Fund Buys Turkey and Argentina Bonds Says Rout Overdone (BLOOMBERG)

Proudly powered by WordPress