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3M leans on upward trend line - Analysis - 29-07-2020

Economies.com
2020-07-29 13:03PM UTC

3M's stock skidded in the last session to lean on the upward short-term trend line, while also leaning on the 50-day SMA support as it gathers positive momentum to help it rise anew, amid positive signals from the RSI. 

 

Therefore we expect the stock to return higher, provided it steadies back above the resistance of 159.19, representing the ratio 61.8% of Fibonacci retracement levels for a descending wave in the medium term (from 187.00 to 114.01), targeting the next resistance at 169.94, representing the ratio 76.4% of the same retracement levels. 

 

Expected trends for today: Bullish 

McDonald's driven lower by current resistance - Analysis - 29-07-2020

Economies.com
2020-07-29 13:03PM UTC

McDonald's stock fell 2.49% in the last session after the resistance of 202.51 held on, while gathering momentum to help it pierce that resistance later on, as it vents off overbought saturation from the RSI, while trading alongside the upward short-term trend line, with positive pressure from the 50-day SMA. 

 

Therefore we expect the stock to return higher, targeting the resistance of 218.12, provided the resistance of 202.51 was breached. 

 

Expected trends for today: Bullish 

Coca-Cola relinquishes gains - Analysis - 29-07-2020

Economies.com
2020-07-29 13:02PM UTC

Coca-Cola's stock fell 0.62% in the last session while gathering momentum and venting off overbought saturation from the RSI, while buoyed by piercing the main downward trend line, with support from the 50-day SMA.

 

Therefore we expect the stock to return higher, targeting the resistance of 53.78, provided the resistance of 49.72 was breached. 

 

Expected trends for today: Bullish 

JPMorgan suffers from negative pressures despite gains - Analysis - 29-07-2020

Economies.com
2020-07-29 13:02PM UTC

JPMorgan & Chase's stock rose 0.43% in the last session while trading alongside the main downward medium-term trend line, with negative signals from the RSI, coupled with negative pressure from the 50-day SMA. 

 

Therefore we expect the stock to decline and target the support of 92.61, provided the resistance of 104.17 holds on. 

 

Expected trends for today: Bearish