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Shopify climbs cautiously - Analysis - 12-01-2024

Economies.com
2024-01-12 11:40AM UTC

Shopify's stock (SHOP) rose in the intraday levels while trading above the support of 78.57, amid the dominance of the main upward trend in the medium term, 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 resistance of 87.55, provided it settles above 78.57. 

 

Expected trend for today: Bullish 

Deere tries to gather momentum - Analysis - 12-01-2024

Economies.com
2024-01-12 11:40AM UTC

Deere & Company's stock (DE) fell in the intraday levels, while gathering positive momentum to rise anew, with the stock buoyed by a positive pattern that formed in the short term, the Falling Wedge pattern, with positive pressure from the 50-day SMA, as the RSI reached oversold levels.

 

Therefore we expect the stock to return higher, targeting the resistance of 418.38, provided the support of 384.63 holds on.

 

Expected trend for today: Likely Bullish 

GameStop leans on SMA support - Analysis - 12-01-2024

Economies.com
2024-01-12 11:39AM UTC

GameStop Corporation's stock (GME) fell in the intraday levels while seeking a bottom to boost it higher, amid the dominance of the upward correctional wave in the short term, with positive signals from the RSI after reaching oversold levels compared to the stock's movements, forming positive divergence, with the stock thus leaning on the 50-day SMA support. 

 

We expect the stock to return higher, targeting the resistance of 18.60 anew, provided the support of 14.30 holds on.

 

Expected trend for today: Likely Bullish 

Nike tries to vent off oversold saturation - Analysis - 12-01-2024

Economies.com
2024-01-12 11:36AM UTC

Nike's stock (NKE) rose in the intraday levels while trying to recoup some recent losses, as it also vents off oversold saturation in the RSI with positive signals out of them, as the stock is hurt by piercing the upward correctional trend line in the short term, with negative pressure from the 50-day SMA.

 

Therefore we expect the stock to decline and target the pivotal support of 101.73, provided the resistance of 110.80 holds on.

 

Expected trend for today: Likely Bearish