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Tag: NYSE

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IBM Bulls Are Being Pressurised

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)

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FedEx Bears Take Over

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)

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Are The Wal-Mart Bears Trying To Overpower The Bulls?

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.

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Google Retesting Support

$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.

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Sony Couldn’t Break Support After Finding New Resistance

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)

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Bank Of America Gaining Strength After A Fall In Market Price

The market value of $BAC worsened in September reaching 25.99 from 30.12. Price rallied majorly between 29.41 and 31.99 throughout this year. $BAC has maintained stability in market price for the most part of 2018. After a fall in price in September, price reached a new low since mid-November 2017. Price movement this year reached 33.05 in March making it the highest price point of $BAC reached since the financial crisis in 2008. Investors might have been undergoing discomfort during the times the market was in a range. In July, price gave a signal of a future downtrend which later occurred in September with over 400 points.


More investors bought shares of $BofA after a new support level was reached in October. Over 100 points was gathered last week when buyers resumed. The RSI on the daily chart shows price has been oversold. If more buyers come on board, price might reach a new resistance at 29.41. Eventually, if price goes up and moves beyond the first resistance level, price might reach 31.00. Though price movement is in the lower region of the band, it could continue higher if price closes above the upper region of the band, it could continue the bullish movement.

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JP Morgan Chase Holds Still Support

The price of $JPM found solace around 102.90 level at support and 119.21 level at resistance in 2018. This is a price movement of about 1800 points. That is a whole lot of profits for long term traders. However, the price movement of $JPM in the first half of the year was not good for bulls until July.

$JPM DAILY CHART

A breakout has occurred from the trendlines. This could be an indication for a bullish movement. Price is presently at 109.25 level and might reach 112.75. The RSI never fails in showing us when it is oversold so it may signal another buy in $JPM shares. Price movement to the upper part of the Bollinger bands may show a continuation in upward trend. Ichimoku gives no trace yet for a reversal in price of $JPM. A breakout of price occurred also from the resistance level. Price may move as high as 119.21, which is a major resistance level for this year.

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