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Tag: NYSE

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EBAY Share Price In Range, Might Go Bearish


Price of $EBAY has reached the overbought position since January and it is yet to reverse. There was a gap up in January, in which the price is yet to fill up or retrace. $EBAY reached the resistance level at 38.43 on the first trading day of March. Since, $EBAY has been overbought for 2months.

A fall in the price of $EBAY is expected because of the continuous movement of price in the overbought region. As more bears could enter the market, the share of $EBAY might reach 29.79 from 36.72, which could serve as the new support level. The Ichimoku still shows the bulls are aggressively in power but the bears, in the long run, could overpower the efforts of the bulls. RSI undoubtedly is overbought after which a breakdown from the trendlines has occurred. As we await the bearish movement to gain momentum, the bulls might decide to enter the market after finding support at 29.79.

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Hewlett Packard Price in Range, Might Go Bullish


The year 2019 started on a good note for the $HPQ bulls when price moved from 20.20 on the first trading day to 24.14 on the 26th of February. Ever since the recent high was reached at 27.70 in 2018, price has ceased to reach that level again. Nevertheless, the price of $HPQ continues to maintain the support level at 19.45. On the 27th day of February, there was a gap down to 18.49 from the resistance level.

RSI shows that before the gap down, price of $HPQ had been overbought. The gap down made the RSI to reach the oversold region and since then, price remains in the lower region of the Bollinger bands. Ichimoku’s future still shows a bearish trend still active.

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Facebook Share Price To Fall

On the 25th of January, we released an article stating Facebook bears are getting out of the market. At this point, our expectation for $FB share price to reach 160 has been met, which could pave way for the bears to resume trading. A breakdown from the trendlines A and B occurred in the last two trading days of last week. A double bounce in price touched the resistance level at 174.14 in the last 2 months, technically indicating a possibility for a reversal.

On the 31st of January, there was a jump in the price of $FB from 150.61 to 165.36. Ever since the jump occurred, a range in price resumed. Price of $FB is beginning to touch the middle Bollinger band line, which might likely indicate a weak bullish trend. Though the future of Ichimoku shows no reversal, price of $FB might begin to fall. A fall in price might make the $FB shares to drop to 139.06. Taking a further look at the RSI, price of $FB has been overbought, preparing for a reversal.

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Walmart Bulls Might Begin To Relent


Ever since Walmart hit an all time high in January 2018, the bullish strength began to depreciate. Though a correction occurred, price only reached the resistance level 105.99. Since then, the Ichimoku has been having a rough shape which gives a dicey signal for the $WMT market. As price of $WMT is currently at 98.32, price might go lower. It is obvious there is a tussle between the $WMT bears and bulls since the all time high was reached.

Indications with the RSI have shown 2 overbought positions in 2018. Price is yet to retrace fully and still maintains the upper region of the Bollinger bands. At two different instances, price crossed to the lower region of the bands but crossed back to the upper region. A breakdown from the support level 89.76 might make price to continue the downtrend to reach 77.92 in the coming weeks.

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The IBM Might Lose Its Uptrend Grip

For over 6 months in 2018, the $IBM price pattern showed little volatility until the first week in October when the price fell from 154.48 to 114.26. After this fall tried to maintain support at that same level, a continued move lower started in December to the next support level at 107.66. The second support level at 107.66 serves as a stronger support because a bounce occurred. Since that time, $IBM share price has maintained an uptrend in 2019, with over 2000points before reaching an overbought position.


Price being undoubtedly overbought in the past few days is a likely signal for a reversal downwards. The trendlines have been broken downward and the bulls seem to be taking a break from the market. Despite the RSI showing an overbought region, the Ichimoku’s future shows strong bullish action still intact. On the 23rd of January, there was a gap upward which is yet to be filled. Though $IBM still maintains the upper region of the Bollinger bands, the bull power might begin to lose its momentum.

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General Electric Is Currently Overbought


Since the beginning of the year, $GE bulls have been actively trading with over 250points. 2018 ended on a poor note for $GE shares when price fell about 500points before a range in price began. However, 2019 began with the $GE bulls in charge of the market with over 150points gained before the end of January. On the 1st of February 2019, they was a gap upwards which made the share price of $GE to move higher about 100points more.

Price is already overbought using the RSI thereby depicting a reversal is about to begin. Ichimoku is still showing a bullish direction alongside the price of $GE still on the upper region of the Bollinger bands. As it is expected that the bears get into the market for a short while, price of $GE could begin a bullish movement after a dip might reach 8.50.

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Nike Bulls May Relent

There has been an upward movement with the $NKE share price since the last week in 2018. The bulls have gained about 300points since then. $NKE reached an all time high in September 2018 and there was a major resistance at 86.04 level. The current price of $NKE is at 85.07 which might maintain the resistance level 86.04. Just recently, $NKE trainers which looked to have the name Allah have been asked to be recalled. This recall may negatively affect the sales of the trainers.

Ichimoku’s future is yet to show a reversal which indicates that the $NKE bulls are still in the market. RSI also shows an overbought position indicating that a correction lower may begin. Since price is already touching the resistance level, this could give room for the bears to get into the market. Price of $NKE still maintains the upper region of the Bollinger bands. If a bearish movement begins, it could attract about 100points.

Source: Nike Air Max Trainers Allah Sneakers Recall Petition Arabic Offensive.
(Independent.co.uk)

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Facebook Bears Might Be Getting Out Of The Market

The second half of 2018 went sour for Facebook investors when a long dip began in July. Share price moved upward to reach 218.11 and fell to 123.25. $FB has enjoyed a smooth ride in the past few years without much hassle until the dip. The fall was at 43.5% which was the worst fall in the history of $FB shares. Most of the stocks in the market fell towards the end of 2018. Technically, an M sign has been formed holding on to a strong support at 123.25.


RSI is currently showing oversold. This oversold position was last reached in 2012. If $FB bulls get into the market amass, this could lead to a change of trend in the bullish direction. The share price of $FB might reach 160 from its current 145.97 when the bulls take charge fully. A breakout of the resistance level might make the bullish movement to continue. Though Ichimoku is yet to give a change of trend, price might also get into range before the uptrend begins.

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Hope For Apple Bulls

$AAPL lost all its gains in 2018 starting in November. This might be due to the on-going trade wars. Since this fall in price, $AAPL shares reached 145.82. Before the huge fall in $AAPL share price, it had been overbought a few times. Using the weekly chart, price of $AAPL has been in the upper region of the Bollinger bands since August 2016 before it changed to the lower section of the bands in November 2018. $AAPL reached an all time high of 228.39 in September 2018.


The fall in $AAPL share price made the RSI show an oversold position. The trendlines are already broken showing a bullish reversal. Though price sits comfortably in the lower region of the Bollinger bands, it is yet to fully reverse. From now, the activities of buyers might make the $AAPL shares to rise to 188.07 from its current 155.17. Ichimoku’s future still shows price is on the downtrend. However, the support level 145.82 is yet to be broken downward despite price retesting the level in the past four weeks. This could be an indication that $AAPL bulls are about to launch their efforts.

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Wells Fargo Could Be On The Rise

The share price of $WFC went down in 2018 for about 2100 points. It was not really a good year for investors of $WFC. A support level at 43.46 was last reached in October 2016. In the last month of 2018, it was all bearish for the $WFC shares though the bears have been in charge since September. An oversold position has been reached which might give room for investors to take charge. 2019 began with an obvious movement of the $WFC shares in favour of the bulls. Though, there are a few signs that the bulls have been active in the market in the last days of 2018.

Wells Fargo stock daily chart


The oversold levels were reached in December 2018 using the RSI. The quest for the $WFC shares to go bullish might have begun already because about 400points have been gained on the $WFC shares so far this year. Price is currently at 48.70. Stocks are beginning to gather momentum generally for bullish movements. There are very high tendencies that the price of $WFC will touch the resistance level 1 at 50.13 and eventually breaks the resistance.

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