Facebook gives in to negative pressure - Analysis - 10-06-2022
Facebook's stock (META) skidded in the last session after changing its icon from FB to META, with Bloomberg reporting the company stopped developing a smart watch to work on other wrist devices, with the stock tumbling 6.43%, or 12.64 points, settling at 184.00, with trading volumes at 23.5 million shares, below 10-day averages of 25.4 million shares.
The stock is facing resistance from the 50-day SMA, amid the dominance of the main downward trend in the short term, doubling pressures, amid negative signals from the RSI after reaching overbought levels.
Therefore we expect more losses for the stock, targeting the pivotal support of 169.00, provided the resistance of 213.15 holds on.
Trade US Stocks with 1:50 leverage
Expected trend for today: Bearish
Midday update for the NZDUSD 10-06-2022
The NZDUSD pair trades positively now to breach 0.6405 and attempts to hold above it, which urges caution from the upcoming trading, as consolidating above it will push the price to achieve intraday gains that target 0.6465 followed by 0.6525 levels, while trading below it again is required to resume the bearish trend that its next target located at 0.6295.
The expected trading range for today is between 0.6330 support and 0.6440 resistance
The expected trend for today: Bearish
Midday update for the AUDUSD 10-06-2022
The AUDUSD pair shows clear positive trades to head towards potential test to the key resistance 0.7160, and as long as the price is below this level, our bearish overview will remain valid for today, waiting to break 0.7100 to confirm opening the way to head towards 0.7050 followed by 0.6995 levels.
The expected trading range for today is between 0.7040 support and 0.7140 resistance
The expected trend for today: Bearish
Midday update for Brent oil 10-06-2022
Brent oil price trades positively to start testing the key resistance 122.00, affected by stochastic positivity, and we need to monitor the price behavior at the mentioned level, as it needs to consolidate below it to keep the negative scenario active for today, which targets 117.90 mainly, while breaching it and holding above it will reactivate the main bullish trend and opens the way to achieve new gains on the short term and medium term basis.
The expected trading range for today is between 118.50 support and 123.00 resistance.
The expected trend for today: Bearish