Vertex Pharmaceuticals' stock (VRTX) returned lower in the intraday levels while hurt by piercing the main downward trend line recently in the short term, with negative pressure from the 50-day SMA, with positive signals from the RSI after reaching oversold levels, which could limit upcoming losses.
Therefore we expect more losses for the stock, targeting the first support at 276.57, provided the resistance of 306.00 holds on.
Expected trend for today: Bearish
Crude oil price faced additional negative pressure to break 78.93 followed by the bullish channel’s support line and attempts to settle below this support, to increase the signals of turning to decline and stop the correctional bullish scenario, on its way to head towards 75.63 as a next main station, noting that the bearish bias will remain dominant unless the price managed to breach 78.93 and hold above it.
Taiwan Semiconductor's stock (TSM) fell in the intraday levels amid the dominance of the upward correctional short-term wave, while buoyed by piercing the main downward trend line recently, with positive signals from the RSI after reaching oversold levels, leaning on the support of the 50-day SMA, in an attempt to gather positive momentum to recover anew.
Therefore we expect the stock to return higher, targeting the resistance of 83.43, provided the support of 73.78 holds on.
Expected trend for today: Bullish
The NZDUSD pair trades with strong negativity to break 0.6275 and form double top pattern that has negative targets that start by testing 0.6130, to suggest the continuation of the bearish bias in the upcoming sessions as long as 0.6275 level remains intact, noting that breaking 0.630 will extend the bearish wave to reach 0.6010 areas as a next main station.
The expected trading range for today is between 0.6150 support and 0.6260 resistance
The expected trend for today: Bearish