Under Armour buoyed by pivotal support - Analysis - 23-06-2022
Under Armour's stock (UAA) rose in the intraday levels after the pivotal support of 9.00 held on, with the stock trying to recoup some recent losses, and vent off oversold saturation in the RSI, marking a profit of 0.68%, or 6 cents, and settling at 8.93, amid the dominance of the main downward trend in the short term, with negative pressure from the 50-day SMA.
Therefore we expect the stock to return lower, targeting the support of 7.40, provided the support of 9.00 was breached.
Expected trend for today: Bearish
Redbox seeks a bottom to bolster it - Analysis - 23-06-2022
Redbox Entertainment's stock (RDBX) fell in the intraday levels even after reporting retail sales up 12.8% y/y in the week ending June 18, due to Father Day sales, and the fourth of July sales, marking a loss of 12.93% in the last session, or 1.5 points, settling at 101.0, with trading volumes surpassing 8.6 million shares, below 10-day averages of 31.2 million shares.
The stock is moving alongside the upward correctional short-term trend line, seeking a bottom to bolster it higher, amid positive pressure from the 50-day SMA, countered by negative signals from the RSI.
Therefore we expect the stock to return higher, targeting the first resistance at 13.35, provided the support of 8.56 holds on.
Expected trend for today: Bullish
Home Depot sharpens decline - Analysis - 23-06-2022
Home Depot's stock (HD) kept falling in the intraday levels amid the dominance of the downward correctional trend in the short term, with negative pressure from the 50-day SMA, marking a loss of 0.08% in the last session, or 22 cents, and settling at 268.98, with positive signals from the RSI after reaching oversold levels.
Therefore we expect the stock to decline and target the support of 246.59, provided the resistance of 279.59 holds on.
Expected trend for today: Bearish
Midday update for Brent oil 23-06-2022
Brent oil price shows sideways trades since morning, settling around 108.00 now, and as long as the price is below 110.10, our bearish overview will remain valid for today, noting htat our targets begin at 105.05 and extend to 101.65 followed by 98.85 after breaking the first level.
The expected trading range for today is between 103.50 support and 110.00 resistance.
The expected trend for today: Bearish