The GBPUSD awaits more decline - Analysis - 13-05-2022
The GBPUSD pair shows some bullish bias affected by stochastic positivity, noticing that the indicator loses its positive momentum to support the chances of resuming the bearish wave within the bearish channel that appears on the chart, noting that our next target extends to 1.2080.
The EMA50 continues to support the suggested bearish wave, which will remain valid unless the price rallied to breach 1.2350 and hold above it.
The expected trading range for today is between 1.2130 support and 1.2290 resistance.
The expected trend for today: Bearish
The EURUSD approaches the extended target – Analysis - 13-05-2022
The EURUSD pair continued the strong decline yesterday to break 1.0450 and approaches our extended target at 1.0325, reinforcing the expectations of continuing the bearish trend within the bearish channel that appears on the chart, which has negative targets that extend to 1.0255.
Therefore, the overall bearish trend will remain dominant in the upcoming period, taking into consideration that breaching 1.0450 might push the price to achieve some intraday bullish correction to test 1.0470 areas initially and might extend to 1.0520 before any new attempt to decline.
The expected trading range for today is between 1.0300 support and 1.0460 resistance.
The expected trend for today: Bearish
Disney sharpens decline - Analysis - 12-05-2022
Disney's stock (DIS) declined after the company reported forecast-missing quarterly earnings, while barely surpassing estimates for subscribers.
Disney + closed the quarter with 137.7 million subscribers, up 7.9 million from the previous quarter, half of them on the Disney + Hotstar in India, which yields lower earnings that other regions, with Wall Street expecting 5.3 million more subscribers.
The stock kept declining amid the dominance of the main downward short-term trend, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI, marking a loss of 2.29% and settling at 105.21, with trading volumes surpassing 29 million shares, compared to the 10-session average of 16.2 million shares.
Therefore we expect more losses for the stock, targeting the support of 98.86, provided the resistance of 117.23 holds on.
Expected trend for today: Bearish.
Rivian extends losses - Analysis - 12-05-2022
Rivian's stock (RIVN) kept falling in the intraday levels after the electric vehicles automakers reported a loss of $1.77 per share, and an operation loss of $1.6 billion on sales of $95 billion, with Wall Street expecting a loss of $1.45 per share, and an operating loss of $1.5 billion on sales of $131 million.
However, the company's future forecasts remain unchanged, expecting to deliver 25 thousand vehicles throughout 2022, while producing 2,552 trucks this quarter and delivering 1,227, up from 909 trucks in the fourth quarter.
The company was further pressured by Ford's decision to sell 8 million shares of Rivian's in the open market at $26.80 per share, collecting $214.4 million.
Technically, the main downward trend still dominates the stock's short-term movements, with negative signals from the RSI despite settling at oversold regions, and with negative pressure from the 50-day SMA, marking a loss of 9.61%, and settling at 20.60, with trading volumes surpassing 53 million shares, compared to a 10-session average of 28.2 million shares.
Therefore we expect more losses for the stock, targeting the support of 7.60, provided the resistance of 33.46 holds its ground.
Expected trend for today: Bearish.