Tesla’s stock price (TSLA) rose in latest intraday trading, after piercing the downward correctional trend line previously in the short term, with positive signals from the Stochastic, coupled with positive support due to trading above the 50-day SMA, tackling the pivotal resistance of $291.85, representing the neckline of a positive pattern that formed at the end of the downward wave, the Double Bottom pattern.

Therefore a breach of the pivotal resistance of $291.85 would open the door for more gains, targeting the resistance of $358.65 as a price target for the forming technical pattern.

Today’s price forecast: Bullish

Super Micro Computer’s stock price (SMCI) rose in latest intraday trading, tackling the pivotal resistance of $37.27, and trading alongside the upward correctional trend line in the short term, with positive signals from the Stochastic despite reaching overbought levels, thus facing the resistance of the 50-day SMA.

Therefore we stand neutral until the stock moves on the resistance of $37.27, with a breach indicating the intent to expand gains and target the resistance of $44.99.

Today’s price forecast: Neutral

Wells Fargo & Company’s stock price (WFC) fell in latest intraday trading after bumping into the resistance of the 50-day SMA, amid the dominance of the downward correctional trend, exposing the stock to increasing negative pressures, especially as a negative divergence forms in the Stochastic after reaching overbought levels compared to the price’s movements,  sending out negative signals. 

Therefore we expect the price to decline and target the support of $65.50, provided the resistance of $73.25 holds on.

Today’s price forecast: Bearish

Arista Networks’ stock price (ANET) rose in latest intraday trading, boosted by positive signals from the Stochastic despite reaching overbought levels, while trying to correct the main downward trend in the short term, with negative pressure due to trading below the 50-day SMA.

Therefore we expect the price to decline and target the support of $66.60, provided the resistance of $78.55 holds on.

Today’s price forecast: Bearish