AmerisourceBergen exposed to negative pressure - Analysis - 13-05-2022
AmerisourceBergen's stock declined in the intraday levels, marking a loss of 6.01% in the last session, or 9.69 points, and settling at 151.61, with trading volumes surpassing 5.4 million shares, over the 10-day average of 2.3 million shares.
The decline came after Walgreen, the biggest shareholders in the pharmaceutical company, sold a part of its holdings in the company.
Technically, the stock is trespassing the support of the 50-day SMA, and getting exposed to negative pressure, and embarking on a correctional downward trend, leaning thereafter on the upward short-term trend line, with positive signals from the RSI.
Therefore we expect more losses, targeting the support of 135.87, provided the initial support of 147.85 is reliably breached.
Expected trend for today: Bearish
Tapestry tries to recoup losses - Analysis - 13-05-2022
Tapestry's stock (TPR) surged 15.5% in the last session, or 4.11 points, settling at 30.63, with trading volumes surpassing 12 million shares, compared to the 10-session average of 5.5 million shares.
The luxury accessories company changed its total year financial projections as China locks down major cities to contain a fresh Covid 19 wave, however higher prices and stronger demand underpinned sales in the third financial quarter.
Technically, the stock is recouping some recent losses, while venting off oversold saturation from the RSI, amid positive signals out of them, with the dominance of the downward correctional short-term trend, with negative pressure from the 50-day SMA.
Therefore we expect the stock to return lower, targeting the support of 26.38 anew, provided the resistance of 35.85 holds on.
Expected trend for today: Bearish
Twitter leans on SMA support - Analysis - 13-05-2022
Twitter's stock (TWTR) declined in a volatile session, after announcing the departure of the executive officers for earnings and consumers, before Elon Musk's expected takeover of the company
The stock is trying to gather some momentum to rise anew, amid the dominance of the upward correctional short-term wave, with the RSI reaching oversold levels compared to the stock's movements, leaning on the support of the 50-day SMA, and marking a loss of 2.19%, or 1.01 points, settling thereafter at 45.08, with trading volumes surpassing 37.6 million shares, compared to the 10-day average of 33.2 million.
Therefore we expect the stock to return higher, targeting the important resistance of 54.57, provided the support of 40.96 holds on.
Expected trend for today: Bullish
Midday update for Wheat price 13-05-2022
Wheat price shows clear bearish rebound after finding solid resistance at 1200.00, to head towards potential turn to the trend for the rest of the day, on its way to test 1114.00 areas mainly.
Therefore, the bearish bias will be expected for the upcoming sessions supported by stochastic negativity, unless the price rallied to breach 1200.00 and hold above it.
The expected trading range for today is between 1160.00 support and 1200.00 resistance.
The expected trend for today: Bearish for the rest of the day