Evening update analysis for the EURUSD 05-07-2022
The EURUSD pair declined sharply to succeed achieving our extended negative target at 1.0250 and settles around it, and we expect the continuation of the negative pressure to achieve more negative targets on the longer term basis, to head towards 1.0100 areas, noting that holding below 1.0355 is important to continue the expected decline.
Kohl's exposed to free fall - Analysis - 05-07-2022
Kohl's Corporation's stock (KSS) skidded after the stores chain said in ended acquisition talks with Franchise Group, sending the stock down 19.64%, or 7.01 points, and settling at 28.68, with trading volumes surpassing 33 million shares, above 10-day averages of 7.8 million shares.
The downward correctional trend dominates in the short term, with negative pressure from the 50-day SMA, piercing the support of 34.64, while the RSI reached oversold levels.
Therefore we expect more losses for the stock, targeting the support of 18.30, provided the resistance of 34.64 holds on.
Expected trend for today: Bearish
Micron Technology breaches current support - Analysis - 05-07-2022
Micron Technology's stock (MU) declined in the intraday levels after the chips maker said last quarter financial results won't match expectations, with the stock tumbling 2.95%, or 1.63 points, settling at 53.65, with trading volumes surpassing 43.6 million shares, above 10-day averages of 20.8 million shares.
Technically, the stock is declining alongside the downward short-term trend line, with negative pressure from the 50-day SMA, piercing the current support of 53.60, amid negative signals from the RSI.
Therefore we expect more losses for the stock, targeting the first support at 46.50, provided the support of 53.60 was breached.
Expected trend for today: Bearish
General Motors tries to recoup losses - Analysis - 05-07-2022
General Motors' stock (GM) rose in the intraday levels even after the carmaker warned from a drop in this quarter's profits as car sales suffer from supply disruptions, with the stock marking a profit of 1.35%, or 43 cents, settling at 32.19, with trading volumes surpassing 21 million shares, above 10-day averages of 16.6 million shares.
The main downward trend dominates in the short term, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI, as the stock tries to recoup some losses.
Therefore we expect the stock to return lower, targeting the pivotal support of 30.65, provided the resistance of 34.90 holds on.
Expected trend for today: Bearish