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Costco attacks important resistance - Analysis - 18-08-2023
Costco Wholesale Corporation's stock (COST) skidded in the intraday levels, breaching the support of the negative technical pattern that formed in the short term, the Double Top pattern, with negative signals from the RSI despite settling at oversold levels, leaning thereafter on the 50-day SMA support.
Therefore we expect more losses for the stock, targeting the support of 530.00, provided it settles below 551.00.
Expected trend for today: Bearish
Eli Lilly stalls - Analysis - 18-08-2023
Eli Lilly and Company's stock (LLY) fell in the intraday levels, amid the dominance of the main upward trend in the medium and short terms, with positive pressure from the 50-day SMA, while collecting recent profits, and gathering momentum to rise anew, as the stock vents off overbought saturation in the RSI.
MoreMidday update for Brent oil 18-08-2023
Brent oil price shows more bearish bias to move away from 84.33, reinforcing the expectations of continuing the correctional bearish trend, reminding you that our waited targets begin at 83.15 and extend to 81.90.
MoreMidday update for Crude oil 18-08-2023
Crude oil price rebounds bearishly after testing 80.65 in the previous sessions, motivated by the negative signal provided by stochastic now, waiting for more decline to achieve the expected correctional target at 78.05.
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