Kohl's ends cautiously higher - Analysis - 31-03-2023
KOHL's Corporation's stock (KSS) rose in the intraday levels while trying to recoup some recent losses, with positive signals from the RSI, and as the RSI reached overbought levels compared to the stock's movements, with the stock marking a final loss of 3.76% in the last session, or 83 cents, settling at 22.88, amid the dominance of the main downward medium-term trend, with negative pressure from the 50-day SMA.
Therefore we expect the stock to return lower, targeting the first support of 20.00, provided the resistance of 23.38 holds on.
Expected trend for today: Bearish
Novavax emits signals of weakness - Analysis - 31-03-2023
Novavax's stock (NVAX) fell in the intraday levels, marking a loss of 1.05% in the last session, or 7 cents, and settling at 6.59, amid the dominance of the main downward trend in the medium and short terms, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI after reaching overbought levels, hinting at negative divergence.
Therefore we expect more losses for the stock, targeting the support of 4.00, provided the resistance of 8.85 holds on.
Expected trend for today: Bearish
Rivian extends cautious gains - Analysis - 31-03-2023
Rivian Automotive's stock (RIVN) rose in the intraday levels while attempting to recoup some recent losses, marking a fresh profit of 1.12% in the last session, or 16 cents, and settling at 14.40, amid the dominance of the main downward short-term trend, with negative pressure from the 50-day SMA, while the RSI reached overbought levels compared to the stock's movements.
Therefore we expect the stock to return lower, targeting the support of 11.00, provided it settles below the resistance of 15.30.
Expected trend for today: Bearish
Midday update for Brent oil 31-03-2023
Brent oil price resumes its positive trading now to move away from 78.50 level, to support the continuation of the expected bullish trend scenario for today, waiting to visit 61.8% Fibonacci correction level at 80.50 as a next main target.
The positive effect of the double bottom pattern still active, and supports the expectations of achieving more gains in the upcoming period, noting that it is important to hold above 78.50 to guarantee the continuation of the suggested bullish wave.
The expected trading range for today is between 77.30 support and 80.50 resistance.
The expected trend for today: Bullish