Starbucks' stock rose in the intraday levels, scoring a profit of 0.25% in the last session, or 0.14 points, after the stock touched the pivotal resistance of 55.62, representing the ratio 38.2% of Fibonacci retracement levels for an ascending wave in the medium term (from 42.05 to 64.00), exposing it to negative pressure that forced it lower before the close, trimming the gains, while relative power indicators reached extremely overbought levels compared to the stock's own upward movement.
Therefore we expect the stock to fall in the coming trading, as long as the resistance of 55.62 holds on, targeting the support of 53.03, which represents the ratio 50% of the same retracement levels mentioned earlier.
Walt Disney's stock fell in the intraday levels, registering a small loss of 0.05% in the last session, or 0.05 points, as the stock is hurt by exiting a negative technical pattern that formed previously in the short term, the Rising Wedge pattern, with ongoing negative pressure from the SMA for the last 50 days period.
Therefore we reaffirm our negative outlook for the stock, targeting the support of 96.15.
Amazon's stock closed higher again in the intraday levels, recording a profit of 0.93% in the last session, or 6.56 points, with the stock readying to attack the important resistance of 722.45, with the dominance of the main upward trend in the medium and short terms along the trend line, coupled with ongoing positive support from the SMA for the last 50 days period, as relative power indicators begin emitting an influx of positive signals.
Therefore we expect more gains to come for the stock, provided it first breaches the resistance of 722.45, targeting thereafter the resistance of 753.80.
Yahoo's stock returned higher in the intraday levels, recording a hefty profit of 3.29% in the last session, or 1.17 points, as the stock settled back above the pivotal support of 36.16, representing the ratio 50% of Fibonacci retracement levels for a descending wave in the medium term (from 46.17 to 26.15), while also settling above the SMA for the last 50 days period, benefiting from its renewed positive support.
Therefore we expect more gains to come for the stock, targeting the resistance of 38.52, which represents the ratio 61.8% of the same retracement levels mentioned earlier.