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Novavax closes cautiously higher - Analysis - 04-12-2023

Economies.com
2023-12-04 11:50AM UTC

Novavax's stock (NVAX) rose in the intraday levels, with positive signals from the RSI, amid the dominance of the main downward medium-term trend, while trading alongside the short-term trend, while suffering negative pressure from the 50-day SMA, as the stock also moves near the pivotal support of 5.61.

 

Therefore we expect the stock to decline and target the support of 4.00, provided the support of 5.61 was breached. 

 

Expected trend for today: Likely Bearish 

Rivian touches SMA resistance - Analysis - 04-12-2023

Economies.com
2023-12-04 11:50AM UTC

Rivian Automotive's stock (RIVN) rose in the intraday levels, touching the resistance of the 50-day SMA, while trading alongside the downward secondary trend line in the short term, with negative signals from the RSI after reaching overbought levels, doubling negative pressures on the stock.

 

Therefore we expect the stock to return lower, targeting the support of 15.30, provided the resistance of 19.48. 

 

Expected trend for today: Likely Bearish 

Illumina tries to correct the downward trend - Analysis - 04-12-2023

Economies.com
2023-12-04 11:49AM UTC

Illumina's stock (ILMN) rose in the intraday levels while correcting the main downward trend, as the stock retests the resistance of the secondary trend line in the short term, coinciding with touching the resistance of the 50-day SMA, doubling negative pressures, with negative signals from the RSI despite reaching overbought levels, hinting at negative divergence. 

 

Therefore we expect the stock to return lower, targeting the support of 89.00, provided the resistance of 118.40 holds on.

 

Expected trend for today: Likely Bearish 

 

 

 

Western Digital soars - Analysis - 04-12-2023

Economies.com
2023-12-04 11:48AM UTC

Western Digital Corporation's stock (WDC) rose 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, coupled with positive signals from the RSI despite reaching overbought levels. 

 

Therefore we expect more gains for the stock, targeting the first resistance of 50.30, provided it settles above 47.14. 

 

Expected trend for today: Bullish