Under Armour (UAA) stock closed its latest session unchanged, as the stock attempts to ease its clear oversold conditions on the RSI indicators, especially with the emergence of positive signals. However, downside pressure persists from trading below the 50-day SMA and under the dominance of the main short-term bearish trend, with price action moving along a descending slope line.
Therefore, we expect the stock to decline in its upcoming trading, as long as it remains below $5.65, targeting the pivotal support level of $4.75.
Today’s stock forecast: Bearish
The price of (ETHUSD) rose in its last intraday trading, offloading its clear oversold conditions on the (RSI), amid the dominance of bearish correctional wave on the short-term basis on the (RSI), amid the dominance of bearish correctional wave on the short-term basis, alongside a supportive bias line for this track, with the continuation of the negative pressure that comes from its trading below EMA50, besides the emergence of the negative signals on the (RSI), intensifying the negative pressure around the price.
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The price of (BTCUSD) rose in its last intraday trading, due to the stability of the current support at $114,500, gaining some of the positive momentum that helped it to recover some previous losses, amid its affection by breaking a bullish trend line on the short-term basis, with the continuation of the negative pressure that comes from its trading below EMA50, besides the emergence of the negative signals on the (RSI), after offloading the oversold conditions, opening the way for recording more of the losses on the near-term basis.
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The price of (Brent) continued the decline in its last intraday trading, due to the stability of the critical resistance level at $66.00 after retesting it, accompanied by hitting the resistance of the EMA50, besides the emergence of the negative signals on the (RSI), after reaching overbought levels, amid the dominance of minor bearish wave on the short-term basis.
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