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Boeing turns gains into losses - Analysis - 11-05-2021
Boeing's stock (BA) rose to an intraday high at 240.94, bouncing off it lower and marking a 1.08% loss, after touching the resistance of the 509-day SMA, amid the dominance of the downward correctional short-term trend, while hurt by piercing the upward trend line recently, as the stock vented off oversold saturation in the RSI in the RSI fully.
Therefore we expect more losses for the stock, targeting the first support at 222.30, provided the resistance of 242.35 holds on.
Expected trend for today: Bearish
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Bank of America driven lower by current resistance - Analysis - 11-05-2021
Bank of America's stock (BAC) fell 0.31% in the last session after the resistance of 42.26 held on, while gathering momentum to help it pierce that resistance, while venting off overbought saturation in the RSI, amid the dominance of the main upward trend in the medium and short terms, coupled with positive pressure from the 50-day SMA.
MoreCity Group trims gains - Analysis - 11-05-2021
City Group's stock hit a session high at 76.80 before bouncing off it lower and marking a 0.07% loss. amid the dominance of the main upward trend in the medium and short terms, with negative signals from the RSI after reaching overbought levels.
MoreMidday update for Wheat price 11-05-2021
Wheat price shows clear positive trades to test the EMA50 that forms good resistance against the price, and we still neutral until the price confirms its next destination clearly, noting that surpassing 733.50 will lead the price to resume the main bullish trend and head towards 758.00 initially, while breaking 726.80 represents the key to extend the correctional bearish wave towards 700.00 as a next negative station.
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