On Holding AG (ONON) advanced slightly in its latest intraday trading, amid the dominance of a short-term corrective bullish wave, with continued positive pressure from trading above its 50-period SMA. In addition, a positive divergence has started to form on the RSI after reaching deeply oversold levels in an exaggerated manner relative to price action, alongside the emergence of positive signals from the indicator.

Therefore we expect the stock price to rise in the upcoming trading sessions, as long as support at $45.80 holds, to target the first resistance level at $50.00.

Today’s price forecast: Bullish

Broadcom Inc. (AVGO) stabilized on gains in its latest intraday trading, after the stock managed to unwind its oversold conditions on the RSI, indicating a fading of the positive momentum that previously supported price action. This comes amid the impact of breaking a main short-term bullish trendline, alongside continued negative pressure from trading below its 50-period SMA, which limits the chances of a sustained recovery in the near term.

Therefore we expect the stock price to decline during the upcoming trading sessions, as long as resistance at $359.40 holds, to target the key support level at $324.50.

Today’s price forecast: Bearish

Chevron Corporation (CVX) rose in its latest intraday trading, but the stock ran into resistance at its 50-period SMA. This move comes while price action continues to move along a medium-term bearish trendline. In the background, negative divergence has begun to form on the RSI after it reached deeply overbought levels relative to price action, accompanied by the emergence of a bearish crossover, which increases downside pressure.

Therefore we expect the stock price to decline during the upcoming trading sessions, as long as resistance at $153.95 holds, to target the support level at $146.50.

Today’s price forecast: Bearish

D.R. Horton, Inc. (DHI) showed calm and slightly positive sideways trading in its latest intraday movements, as the stock attempts to recover part of its previous losses. At the same time, it is trying to unwind its clear oversold condition on the RSI, especially with the emergence of early positive signals. This comes amid the dominance of a minor bearish wave in the short term, with price action moving alongside a supporting downward trendline, in addition to ongoing negative pressure from trading below its 50-period SMA.

Therefore we expect the stock price to decline during the upcoming trading sessions, as long as resistance at $151.40 holds, to target the support level at $134.75.

Today’s price forecast: Bearish