Facebook's stock (FB) fell in the intraday levels, recording a new loss of 0.54% in the last session, or 1.01 points, amid the dominance of the upward short-term trend, with positive pressure from the 50-day SMA, as the stock tries to gather momentum to help it rise anew, while the RSI reached extremely oversold levels compared to the stock's movements.
Therefore we expect the stock to return higher, targeting the pivotal resistance of 195.32, as long as the support of 177.01 holds on.
City Group's stock (C) kept falling in the intraday levels, recording a new loss of 1.26% in the last session, or 0.87 points, and nearing the support of 67.97, which represents the ratio 50% of Fibonacci retracement levels for an ascending wave in the short term (from 55.23 to 80.70), amid negative signals from the RSI, and with negative pressure from the 50-day SMA.
Therefore we expect more losses for the stock, especially if the support of 67.97 was breached, targeting the next support at 64.96, which represents the ratio 61.8% of the same retracement levels.
General Motors' stock (GM) fell in the intraday levels, recording a loss of 0.23% in the last session, or 0.09 points, as the stock tries to gather momentum to help it rise anew, while venting off overbought saturation in the Relative Strength Index, as the stock gets buoyed by exiting a descending correctional price channel that guided recent short-term trading, with positive pressure from the 50-day SMA.
Therefore we expect the stock to return higher, as long as the support of 36.99 holds on, targeting the resistance of 40.70.
The GBPUSD pair succeeded to achieve our waited target at 1.3226 and pushes negatively on it, which urges caution from the upcoming trading, as breaking this level will open the way to extend the bearish wave to reach 1.3100 followed by 1.2962 areas as next main stations, while holding against the current negative pressure will push the price to start recovery attempts on the intraday basis.