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Tag: $STOCKS

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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.

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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)

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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)

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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.

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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)

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