Twitter reaches pivotal resistance - Analysis - 20-07-2022
Twitter's stock (TWTR) kept rising in the intraday levels, touching the resistance of the 50-day SMA, while the RSI reached overbought levels, amid the dominance of the main downward trend in the medium term, marking a profit of 2.81%, or 1.08 points, and eventually settling at 39.49, with trading volumes surpassing 37.4 million shares, above 10-day averages of 28.1 million shares.
The social media site got a court date in its suit against Tesla CEO Elon Musk for his backing off from t he acquisition deal valued at $44 billion.
We expect the stock to return lower, targeting the first support at 35.40, provided the resistance of 40.96 holds on.
Expected trend for today: Bearish
IBM exposed to negative pressure - Analysis - 20-07-2022
IBM's stock declined in the last session after weak forecasts by the company, which clouded strong profits, leading to a 5.25% loss, or 7.25 points, with the stock settling at 130.88, with trading volumes surpassing 29.6 million shares, above 10-day averages of 6.8 million shares.
The stock is trespassing the support of the 50-day SMA, exposing it to negative pressure, which also led it to pierce the upward short-term trend line, doubling negative pressures.
Therefore we expect more losses for the stock, targeting the first support at 124.90, provided the resistance of 135.00 holds o.
Expected trend for today: Bearish
Hasbro rises in volatile session - Analysis - 20-07-2022
Hasbro's stock (HAS) rose in the intraday levels after reporting a profit of $1.15 per share, surpassing estimates of 94 cents, on sales of $1.34 billion, below estimates of $1.37 billion, marking a profit of 0.71%, or 56 cents, settling at 79.98, with trading volumes surpassing 3 million shares, above 10-day averages of 1.2 million.
The stock is venting off oversold saturation from the RSI, amid the dominance of the downward correctional short-term trend, with negative pressure from the 50-day SMA.
Therefore we expect the stock to return lower, targeting the support of 75.25, provided the resistance of 86.40 holds on.
Expected trend for today: Bearish
Johnson & Johnson trapped in a hesitant place - Analysis - 20-07-2022
Johnson & Johnson's stock (JNJ) declined even after reporting a profit of $2.59 per share, surpassing estimates of $2.54, on sales of $24 billion, surpassing expectations of $23.8 billion, with the stock marking a loss of 1.46%, or 2.54 points, and settling at 171.69, with trading volumes surpassing $13.2 million shares, above 10-day averages of $6 million.
The stock is suffering negative pressure from the 50-day SMA, while moving alongside the main upward medium-term trend line, with positive signals from the RSI after reaching oversold levels.
Therefore we expect the stock to return higher, targeting the first resistance of 179.50, provided the support of 167.25 holds on.
Expected trend for today: Bullish