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RH sharpens decline - Analysis - 01-07-2022

Economies.com
2022-07-01 11:30AM UTC

RH's stock declined 10.56% in the last session, or 25.06 points, piercing the support of 236.30, and settling at 212.26, with trading volumes surpassing 3.3 million shares, above 10-day averages of million shares, as the company expects yearly earnings to fall by 5%. 

 

The main downward trend dominates in the medium and short terms, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI.

 

Therefore we expect more losses for the stock, targeting the first support at 188.40, provided it settles below 236.30. 

 

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Expected trend for today: Bearish 

 

 

Midday update for Sugar price 01-07-2022

Economies.com
2022-07-01 09:18AM UTC

Sugar price traded with clear negativity to start pressing on 18.25 level, reinforcing the expectations of continuing the bearish trend, waiting to break this level to rally towards 17.70 as a next negative station, reminding you that holding below 18.70 is important to continue the suggested decline.

 

The expected trading range for today is between 17.80 support and 18.70 resistance

 

The expected trend for today: Bearish

Midday update for the NZDUSD 01-07-2022

Economies.com
2022-07-01 09:18AM UTC

The NZDUSD pair broke 0.6210 level strongly and settled below it, rienforcing the expectations of continuing the bearish trend efficiently in the upcoming sessions, and the way is open to head towards our next target at 0.6150, reminding you that holding below 0.6290 is important to continue the expected decline.

 

The expected trading range for today is between 0.6140 support and 0.6220 resistance

The expected trend for today: Bearish

Midday update for the AUDUSD 01-07-2022

Economies.com
2022-07-01 09:18AM UTC

The AUDUSD pair shows additional strong negative trades to surpass 0.6830 level and confirm extending the bearish wave on the intraday and short term basis, opening the way to head towards 0.6750 as a next main station, noting that the continuation of the bearish wave depends on the price stability below 0.6930.

 

The expected trading range for today is between 0.6770 support and 0.6850 resistance

 

The expected trend for today: Bearish