American Airlines gathers positive momentum - Analysis - 30-01-2023
American Airlines' stock fell in the intraday levels amid negative signals from the RSI while collecting profits and gathering momentum to recover anew, amid the dominance of the upward correctional short-term wave, with negative pressure from the 50-day SMA.
Therefore we expect the stock to return higher, targeting the resistance of 18.22, provided it settles above 15.70.
Expected trend for today: Bullish
Chevron driven lower by pivotal resistance - Analysis - 30-01-2023
Chevron's stock (CVX) fell in the intraday levels after the energy giant missed fourth-quarter profits estimates, while earnings beat expectations, with the stock tumbling 4.44% in the last session, or 8.34 points, settling at 179.45, with trading volumes surpassing 19.6 million shares, above 10-day averages of 9.6 million shares.
Technically, the stock fell after the pivotal resistance of 188.44 held on, with negative signals from the RSI after reaching overbought levels, with the stock gathering momentum to pierce that resistance, amid the dominance of the main upward medium-term trend, with positive support from the 50-day SMA.
Therefore we expect the stock to return higher, targeting the resistance of 213.00, provided the resistance of 188.44 was breached.
Expected trend for today: Bullish
Adobe dominated by upward correctional trend - Analysis - 30-01-2023
Adobe's stock (ADBE) rose in the intraday levels amid the dominance of the upward correctional trend in the short term, while buoyed by piercing the main downward trend line recently, buoyed by trading above the 50-day SMA, with negative signals from the RSI after reaching overbought levels.
Therefore we expect more gains for the stock, targeting the resistance of 396.40.
Expected trend for today: Bullish
Midday update for Brent oil 30-01-2023
Brent oil price shows some additional bearish bias to approach 85.10 support line, which represents one of the sideways range’s lines that dominates the intraday trades besides 88.20 resistance, to keep the sideways scenario valid until confirming surpassing one of these levels followed by detecting the next targets.
Note that the details of the expected targets after the breach are explained in our morning issued report.
The expected trading range for today is between 84.50 support and 88.00 resistance.
The expected trend for today: Sideways