Update: The EURUSD rises again
The EURUSD pair returns to rise strongly to beach 0.9700 and attempts to hold above it, which urges caution from the upcoming trading, as consolidating above this level will push the price for more bullish correction that its targets begin at 0.9790 and might extend to 0.9865, while trading below it again will reactivate the main bearish trend scenario that its next target located at 0.9550.
Biogen surges - Analysis - 29-09-2022
Biogen's stock (BIIB) surged in the last session after the pharmaceutical company said its Alzheimer drug managed to slow down the cognitive and functional decline in early stages of the disease considerably, with the stock surging 39.85%, or 78.82 points, and settling at 276.61, with trading volumes surpassing 16.2 million shares, above 10-day averages of 2.6 million shares.
Technically, the stock managed to shake off negative pressure from the 50-day SMA, piercing the pivotal resistance of 224.78, with positive signals from the RSI.
Therefore we expect more gains for the stock, targeting the first resistance at 318.30.
Expected trend for today: Bullish
Apple pares losses - Analysis - 29-09-2022
Apple's stock (AAPL) hit a session-low at 144.84, bouncing off it higher and trimming the losses to 1.27%, or 1.92 points, and settling at 149.84, with trading volumes surpassing 146.6 million shares, above 10-day averages of 105 million shares, after news the company will abandon plans to increase iPhone production as demand stalled.
Technically, the stock is hurt by negative pressure from the 50-day SMA, coupled with negative signals from the RSI, while hurt by piercing the upward short-term trend line recently.
Therefore we expect more losses for the stock, targeting the support of 142.12, provided the pivotal support of 150.10 was breached.
Expected trend for today: Bearish
United Steel rises alongside the downward trend line - Analysis - 29-09-2022
United Steel Corporation's stock (X) rose in the last session amid the dominance of the main downward trend in the short term, with negative pressure from the 50-day SMA, while recouping recent losses and venting off oversold saturation in the RSI.
Therefore we expect the stock to return lower, targeting the pivotal support of 16.40, provided the resistance of 20.78 holds on.
Expected trend for today: Bearish