The EURUSD faces negative pressure – Analysis - 03-08-2022
The EURUSD pair continued to decline to break 1.0200 level and settles below it, noticing that stochastic got rid of its positive momentum and begins to overlap positively now, waiting to motivate the price to resume the positive trades and head to test 1.0278 initially, reminding you that breaching this level will extend the bullish wave to reach 1.0355 followed by 1.0450 levels.
Therefore, we will continue to suggest the bullish trend for the upcoming period unless breaking 1.0100 and holding below it.
The expected trading range for today is between 1.0120 support and 1.0270 resistance.
The expected trend for today: Bullish
Alibaba tries to recoup losses - Analysis - 02-08-2022
Alibaba's stock (BABA) rose amid attempts to recoup some recent losses while venting off oversold saturation in the RSI, marking a profit of 1.09%, or 97 cents, and settling at 90.34, with trading volumes surpassing 36 million shares, above 10-day averages of 27 million shares, amid the dominance of the main downward trend in the medium term, with negative pressure from the 50-day SMA.
The giant tech company asserted it'll maintain its listing in both New York and Hong Kong and the SEC in the US put the company under risk of expelling lists.
Therefore we expect the stock to return lower, targeting the pivotal support of 81.80, provided the resistance of 102.70 holds on.
Expected trend for today: Bearish
Boeing pierces current resistance - Analysis - 02-08-2022
Boeing's stock (BA) surged after the giant defense and aeroplane company said it can now resume selling of its 787 planes after official US approval, and under supervision of each single plane before delivery.
The Wall Street Journal also mentioned that Boeing's factories will vote soon on labor contracts, which might delay the strike expected this week.
The upward correctional short-term trend dominates, while the stock is buoyed by piercing the downward trend line recently, while trading above the 50-day SMA, with positive signals from the RSI, piercing the resistance of 161.25, marking a profit of 6.13%, or 9.76 points, and settling at 169.07, with trading volumes surpassing 18.3 million shares, above 10-day averages of 10 million shares.
Therefore we expect more gains for the stock, targeting the first resistance at 188.00, provided it holds above 161.25.
Expected trend for today: Bullish
Valvolene declines in volatile session - Analysis - 02-08-2022
Valvolene's stock (VVV) declined in the intraday levels after the car oils and additives company announced an agreement with Aramco to sell its global products for $2.65 billion, with the stock sliding 2.70%, or 87 cents, settling at 31.35, with trading volumes surpassing 5.6 million shares, above 10-day averages of 1.2 million shares.
The stock is gathering recent profits while garnering momentum to help it rise anew, while venting off overbought saturation in the RSI, amid the dominance of the upward correctional short-term wave, with support from the 50-day SMA.
Therefore we expect the stock to return higher, targeting the first resistance at 34.80, provided it holds above 31.00.
Expected trend for today: Bullish