Update: Gold price resumes the rise
Gold price bounced bullishly after leaning on the bullish channel’s support line, to head towards achieving expected gains in the upcoming sessions, and breaching 1928.60 will support the chances of continuing the rise towards 1950.00 as a next positive target, noting that the continuation of the current rise requires holding above 1909.00.
Johnson & Johnson in a free fall - Analysis - 31-01-2023
Johnson & Johnson's stock (JNJ) skidded in the intraday levels after the Wall Street Journal said the US Appeals Court refused its consumer products suit, sending its stock down 3.70% in the last session, or 6.23 points, settling at 162.00, with trading volumes surpassing 23.2 million shares, above 10-day averages of 9 million shares.
Technically, the stock suffers from the dominance of the downward correctional trend in the short term, with negative pressure from the 50-day SMA, countered with positive signals from the RSI after reaching oversold levels.
Therefore we expect more losses for the stock, targeting the first support at 159.18, provided it settles below 167.70.
Expected trend for today: Bearish
Ford tries to pierce current resistance - Analysis - 31-01-2023
Ford's stock (F) fell in the intraday levels after announcing a cut in Mustang Mach-E prices and plans to increase output in 2023 to cover demand, with the stock sliding 2.86% in the last session, or 38 cents, and settling at 12.89, with trading volumes surpassing 64.5 million shares, above 10-day averages of 51 million shares.
Technically, the stock managed to pierce the downward short-term trend line while trespassing the 50-day SMA, shaking off its negative pressure, with positive signals from the RSI as the stock tries to gather momentum to pierce the resistance of 13.04.
Therefore we expect the stock to rise and target the first resistance of 14.67, provided the resistance of 13.04 was breached.
Expected trend for today: Bullish
Snap extends gains - Analysis - 31-01-2023
Snap's stock (SNAP) rose in the intraday levels amid the dominance of the upward correctional wave in the short term, while trading above the 50-day SMA, with positive signals from the RSI despite reaching overbought levels.
Therefore we expect more gains for the stock, targeting the pivotal resistance of 11.92, provided it settles above 9.38.
Expected trend for today: Bullish