Starbucks returns higher - Analysis - 04-08-2022
Starbucks' stock (SBUX) returned higher in the intraday levels after reporting record quarterly profits, beating estimates handily, with the stock rallying 4.25%, or 3.56 points, and settling at 87.27, with trading volumes surpassing 13 million shares, above 10-day averages of 7 million shares.
The upward correctional short-term trend dominates, amid positive pressure from the 50-day SMA, coupled with positive signals from the RSI.
Therefore we expect more gains for the stock, targeting the resistance of 92.63, provided the support of 78.92 holds on.
Expected trend for today: Bullish
Robinhood pierces current resistance - Analysis - 04-08-2022
Robinhood's stock (HOOD) rose after pledging to focus on retail investors, while announcing a cut of 23% in the workforce due to weak trading while reporting a larger loss than expected, at 34 cents per share, with active monthly users down to 14 million, with the stock surging 11.7%, or 1.08 points, settling at 10.31, with trading volumes surpassing 37.4 million shares, above 10-day averages of 10.7 million shares.
The stock managed to pierce the resistance of 9.94, buoyed by trading above the 50-day SMA, with positive signals from the RSI.
Therefore we expect more gains for the stock, targeting the first resistance at 12.50, provided it settles above 9.94.
Expected trend for today: Bullish
The EURTRY fluctuates within the bullish track – Analysis – 4-8-2022
The EURTRY pair lost its positive momentum recently, which pushed it to form correctional bearish rebound to touch 18.1425, noting that the main stability within the bullish channel and the moving average 55 attempt to form additional support by settling at 18.0280 allow us to wait to gather the positive momentum again, to manage to achieve positive gains by rallying towards 18.3345 followed by reaching the additional barrier at 18.5110.
The expected trading range for today is between 18.1160 and 18.3345
The expected trend for today: Bullish
Natural gas price consolidates below the resistance – Analysis – 4-8-2022
Natural gas price failed to crawl below 50% Fibonacci correction level that forms additional support at 7.600, to force it to postpone the negative attack and cover some losses by rallying towards 8.450.
In general, the negative stability below 9.050 resistance forms the main factor to reinforce the domination of the bearish bias for the upcoming trading, thus, we will keep waiting to gather the negative momentum to assist to renew the pressure on the mentioned support, while breaking it will extend trades towards 7.330 and 7.050 levels.
The expected trading range for today is between 8.650 and 7.550
The expected trend for today: Bearish