Redbox seeks a bottom to bolster it - Analysis - 23-06-2022
Redbox Entertainment's stock (RDBX) fell in the intraday levels even after reporting retail sales up 12.8% y/y in the week ending June 18, due to Father Day sales, and the fourth of July sales, marking a loss of 12.93% in the last session, or 1.5 points, settling at 101.0, with trading volumes surpassing 8.6 million shares, below 10-day averages of 31.2 million shares.
The stock is moving alongside the upward correctional short-term trend line, seeking a bottom to bolster it higher, amid positive pressure from the 50-day SMA, countered by negative signals from the RSI.
Therefore we expect the stock to return higher, targeting the first resistance at 13.35, provided the support of 8.56 holds on.
Expected trend for today: Bullish
Midday update for Brent oil 23-06-2022
Brent oil price shows sideways trades since morning, settling around 108.00 now, and as long as the price is below 110.10, our bearish overview will remain valid for today, noting htat our targets begin at 105.05 and extend to 101.65 followed by 98.85 after breaking the first level.
The expected trading range for today is between 103.50 support and 110.00 resistance.
The expected trend for today: Bearish
Midday update for Crude oil 23-06-2022
Crude oil price tests the key resistance 104.60 and keeps its stability below it until now, to keep the bearish trend active for today, supported by the negative pressure formed by the EMA50, waiting to get negative momentum that assist to push the price to achieve our next main target that reaches 98.95.
The expected trading range for today is between 100.00 support and 105.00 resistance.
The expected trend for today: Bearish
Midday update for Silver 23-06-2022
Silver price resumes its negative trades to support our expectations to decline for the rest of the day, which targets 20.95 followed by 20.50 levels as next main stations, reminding you that the continuation of the bearish wave depends on the price stability below 21.85 and 22.00 levels.
The expected trading range for today is between 20.80 support and 21.60 resistance.
The expected trend for today: Bearish