Amazon returns lower - Analysis - 22-02-2021
Amazon's stock returned lower with a 2.35% loss in the last session, while gathering momentum to help it rise anew, as it leans on the 50-day SMA and the main upward trend line in the medium term.
Therefore we expect the stock to return higher, targeting the pivotal resistance of 3,491.
Expected trend for today: Bullish
Pfizer suffers from negative pressures - Analysis - 22-02-2021
Pfizer's stock (PFE) fell 0.35% in the last session while trading below the resistance of 35.46, representing the ratio 50% of Fibonacci retracement levels for an ascending wave in the medium term (from 27.90 to 43.01), with negative pressure from the 50-day SMA, coupled with negative signals from the RSI.
Therefore we expect more losses for the stock, targeting the next support at 33.69, representing the ratio 61.8% of the same retracement levels.
Expected trend for today: Bearish
Midday update for Wheat price 22-02-2021
Wheat price shows negative trades now on its way to head towards the support areas that start at 644.20 followed by 629.40, to keep the price within the sideways range that appears on the chart, which its resistance line located at 662.50, reminding you that breaching this resistance will lead the price to resume the main bullish trend that its next target located at 692.00, while breaking 629.40 represents negative factor that will press on the price to achieve more decline that reaches 614.60.
The expected trading range for today is between 645.00 support and 665.00 resistance.
The expected trend for today: Sideways
Midday update for Sugar price 22-02-2021
Sugar price shows positive trades now after the decline that it witnessed by today’s open, and by taking a deeper look at the chart, we find that the recent trades are confined within bullish flag pattern that appears on the minor image, which means that breaching 16.95 will provide good positive motive that supports the chances of continuing the main bullish trend, which its next target located at 18.10.
Therefore, we will continue to suggest the bullish trend for the upcoming period conditioned by the price stability above 16.50.
The expected trading range for today is between 16.70 support and 17.20 resistance
The expected trend for today: Bullish