Twitter amid negative outlook - Analysis - 17-06-2022
Twitter's stock (TWTR) declined 1.66% in the last session, or 63 cents, settling at 37.36, with trading volumes surpassing 21 million, above 10-day averages of 15.4 million shares, amid the dominance of the main downward medium-term trend, with negative signals from the RSI, amid negative pressure from the 50-day SMA after reaching overbought levels.
Elon Musk has been holding extensive meetings with Twitter employees to discuss his planned acquisition of the social media platform.
Therefore we expect more losses for the stock, targeting the first support at 35.40, provided the resistance of 40.95 holds on.
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Expected trend for today: Bearish
Tesla gives in to negative pressures - Analysis - 17-06-2022
Tesla's stock (TSLA) returned lower after the company hiked prices in the US to combat rising aluminum and other supplies cost, and the company also hiked Model y prices in China, with Jefferies analysts cutting down sales forecasts for this year and next year.
The company marked a loss of 8.54%, or 59.70 points, settling at 639.30, with trading volumes surpassing 35.7 million shares, above 10-day averages of 32.2 million shares.
The downward correctional trend in the short term, with negative signals from the RSI, after reaching overbought levels, while suffering pressure from the 50-day SMA.
Therefore we expect more losses for the stock, targeting the pivotal support of 547.00, provided the resistance of 780.80 holds on.
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Expected trend for today: Bearish
Midday update for Sugar price 17-06-2022
Sugar price opened today with strong rise to surpass 18.70 level and settles above it, which urges caution from the upcoming trading, as consolidating above it will lead the price to achieve additional gains that start by testing 19.16 and extend to 19.72 in case breaching the previous level, while trading below 18.70 again is required to resume the bearish wave that its next target located at 18.25.
The expected trading range for today is between 18.00 support and 18.85 resistance
The expected trend for today: Bearish
Midday update for Corn price 17-06-2022
Corn price resumes the bullish rally to approach our waited target at 763.10, reinforcing the expectations of continuing the bullish trend, reminding you that we suggest surpassing this level to head towards 777.20 as a next main station.
Therefore, the bullish rend scenario will remain valid unless breaking 749.00 and holding below it.
The expected trading range for today is between 747.00 support and 765.00 resistance.
The expected trend for today: Bullish