Evening update analysis for the EURUSD 23-01-2023
The EURUSD pair faced temporary negative pressure to approach the key support 1.0830, and as long as the price is above this level, our bullish overview will remain valid for the upcoming period, supported by the EMA50, reminding you that our next target reaches 1.1030.
Costco rises amid negative pressures - Analysis - 23-01-2023
Costco's stock (COST) rose in the intraday levels after announcing that its board is launching a buy-back program worth $4 billion, sending the stock up 2.26%, or 10.62 points, and settling at 480.11, with trading volumes surpassing 2.5 million shares.
The gains came amid negative pressure from the 50-day SMA, with negative signals from the RSI after reaching overbought levels, while hurt by piercing the upward correctional trend line recently.
Therefore we expect the stock to return lower, targeting the support of 453.80, provided the resistance of 490.48 holds on.
Expected trend for today: Bearish
Eli Lilly seeks a bottom to bolster it - Analysis - 23-01-2023
Eli Lilli and Company's stock (LLY) fell in the intraday levels, after the FDA refused its experimental Alzheimer medicine for not providing enough clinical data, sending the stock down 1.43%, or 5.01 points in the last session, and settling at 346.07, with trading volumes surpassing 5.3 million shares, above 10-day averages of 2.6 million shares.
Technically, the decline comes as the stock seeks a bottom to bolster it higher, amid the dominance of the main upward short-term trend, countered by negative signals from the RSI, coupled with negative pressure from the 50-day SMA.
Therefore we expect the stock to return higher, targeting the pivotal resistance of 375.19, provided the support of 340.75 holds on.
Expected trend for today: Bullish
Alphabet extends gains - Analysis - 23-01-2023
Alphabet's stock (GOOG) surged in the intraday levels after announcing plans to fire 12,000 employees, sending the stock up 5.72%, or 5.37 points, and settling at 99.28, with trading volumes surpassing 53.7 million shares, above 10-day averages of 26.4 million shares.
Technically, the stock received support from the 50-day SMA, extending its correctional movement in the short term and tackling the main downward trend line, with negative signals from the RSI after reaching overbought levels.
Therefore we stand neutral until the stock moves on the pivotal resistance of 102.59, and with a breach sending the stock towards the resistance of 112.64.
Expected trend for today: Bullish