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Starbucks attacks important resistance - Analysis - 07-11-2022

Economies.com
2022-11-07 10:32AM UTC

Starbucks' stock (SBUX) rallied in the intraday levels after the giant announced forecast-beating results, with store sales near their maximum for targets, sending the stock up 8.48%, or 7.18 points in the last session, settling at  91.86, with trading volumes surpassing 20 million shares, above 10-day averages of 10.5 million shares. 

 

Technically, the stock is moving around the 50-day SMA axis, while trading alongside the upward correctional short-term trend line, coupled with positive signals from the RSI, tackling thereafter the resistance of 92.60.

 

Therefore we expect more gains for the stock, targeting the first resistance of 104.00, provided the resistance of 92.60 holds on.

 

Expected trend for today: Bullish

PayPal sharpens decline - Analysis - 07-11-2022

Economies.com
2022-11-07 10:33AM UTC

PayPal Holdings' stock (PYPL) fell in the intraday levels after the digital payments group cut down its earnings forecasts on Thursday, marking a new loss of 1.79%, or 1.37 points, and settling at 75.18, with trading volumes surpassing 41.4 million shares above 10-day averages of 18 million shares.

 

Technically, the stock is dominated by the main downward trend in the medium and short terms, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI despite reaching  oversold levels.

 

Therefore we expect more losses for the stock, targeting the pivotal support of 68.50, provided the resistance of 89.30 holds on.

 

Expected trend for today: Bearish

Midday update for Sugar price 07-11-2022

Economies.com
2022-11-07 10:15AM UTC

Sugar price faces strong negative pressure by today’s open to break 18.40 level and reaches 18.13, which makes us prefer to stay aside until the price confirms surpassing one of the mentioned levels followed by detecting the next destination clearly.

 

Note that breaking 18.13 support will press on the price to suffer additional losses and head towards 17.80 as a next negative target, while breaching 18.40 resistance will reactivate the positive scenario that its next target located at 18.70.

 

The expected trading range for today is between 18.00 support and 18.80 resistance

 

The expected trend for today: Neutral

Midday update for the NZDUSD 07-11-2022

Economies.com
2022-11-07 10:14AM UTC

The NZDUSD pair attempts to breach 0.5910 level again, reinforcing the expectations of continuing the domination of the bullish trend within the bullish channel that appears on the chart, reminding you that our next target is located at 0.5980, while the price needs to hold above 0.5910 as a first condition to continue the positive overview.

 

The expected trading range for today is between 0.5835 support and 0.5950 resistance

The expected trend for today: Bullish