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Facebook tries to vent off oversold saturation - Analysis - 10-11-2022

Economies.com
2022-11-10 11:15AM UTC

Facebook's stock (META) rose in the intraday levels after the CEO announced plans to let go of 13% of the work force, or nearly 11 thousand employees in order to become a smaller and more agile company, with the stock rallying 5.18%, or 5 points in the last session, settling at 101.47, with trading volumes surpassing 107.6 million shares, above 10-day averages of 99 million shares.

 

Technically, the stock is climbing amid the dominance of the main downward trend in the medium term, with negative pressure from the 50-day SMA, in an attempt to recoup recent losses, while venting off oversold saturation in the RSI.

 

Therefore we expect the stock to return lower, targeting the support of 72.00, provided the resistance of 122.53 holds on.

 

Expected trend for today: Bearish

Novavax suffers from negative pressures - Analysis - 10-11-2022

Economies.com
2022-11-10 11:14AM UTC

Novavax's stock (NVAX) fell in the intraday levels, after revising its full-year sales forecasts to the lower range of its expected range, while reporting surprising quarterly losses, however the sales were much better than expected, with the stock down 5.19% in the last session, or 1.02 points, settling at 18.63, with trading volumes surpassing 6.3 million shares, above 10-day averages of 4.2 million shares.

 

Technically, the stock is suffering negative pressure from the 50-day SMA, coupled with negative signals from the RSI amid the dominance of the main downward trend in the medium and short terms. 

 

Therefore we expect more losses for the stock, targeting the support of 8.85, provided it settles below 24.65.

 

Expected trend for today: Bearish

Midday update for the NZDUSD 10-11-2022

Economies.com
2022-11-10 10:16AM UTC

The NZDUSD pair touched the bullish channel’s support line and settles there, waiting for more decline to surpass this level followed by surpassing 0.5835 to open the way to head towards 0.5760, to keep the bearish trend scenario active for the rest of the day conditioned by the price stability below 0.5910.

 

The expected trading range for today is between 0.5800 support and 0.5910 resistance

The expected trend for today: Bearish

Midday update for the AUDUSD 10-11-2022

Economies.com
2022-11-10 10:15AM UTC

The AUDUSD pair touched our first waited target at 0.6397 and presses negatively on it, waiting to break this level to confirm rallying towards 0.6280 that represents our next negative station, to keep our bearish overview unless breaching 0.6430 and holding above it.

 

The expected trading range for today is between 0.6350 support and 0.6460 resistance

 

The expected trend for today: Bearish