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Johnson & Johnson in a free fall - Analysis - 31-01-2023

Economies.com
2023-01-31 12:15PM UTC

Johnson & Johnson's stock (JNJ) skidded in the intraday levels after the Wall Street Journal said the US Appeals Court refused its consumer products suit, sending its stock down 3.70% in the last session, or 6.23 points, settling at 162.00, with trading volumes surpassing 23.2 million shares, above 10-day averages of 9 million shares. 

 

Technically, the stock suffers from the dominance of the downward correctional trend in the short term, with negative pressure from the 50-day SMA, countered with positive signals from the RSI after reaching oversold levels. 

 

Therefore we expect more losses for the stock, targeting the first support at 159.18, provided it settles below 167.70. 

 

Expected trend for today: Bearish

Snap extends gains - Analysis - 31-01-2023

Economies.com
2023-01-31 12:14PM UTC

Snap's stock (SNAP) rose in the intraday levels amid the dominance of the upward correctional wave in the short term, while trading above the 50-day SMA, with positive signals from the RSI despite reaching overbought levels. 

 

Therefore we expect more gains for the stock, targeting the pivotal resistance of 11.92, provided it settles above 9.38. 

 

Expected trend for today: Bullish

Schlumberger tries to gather momentum - Analysis - 31-01-2023

Economies.com
2023-01-31 12:13PM UTC

Schlumberger's stock (SLB) fell in in the intraday levels while gathering momentum to rise anew, amid the dominance of the main upward short-term trend, with positive pressure from the 50-day SMA, coupled with positive signals from the RSI.

 

Therefore we expect the stock to return higher, targeting the resistance of 62.78, provided it settles above 55.05. 

 

Expected trend for today: Bullish

Midday update for the NZDUSD 31-01-2023

Economies.com
2023-01-31 10:32AM UTC

The NZDUSD pair continues to decline to approach 0.6400 barrier, waiting for more decline in the upcoming sessions to visit 0.6365 as a next main target, noting that breaking this level will push the price to 0.6275 as a next station, while the expected decline will remain valid unless breaching 0.6510 and holding above it.

 

The expected trading range for today is between 0.6370 support and 0.6500 resistance

The expected trend for today: Bearish