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Vertex spikes - Analysis - 05-06-2023

Economies.com
2023-06-05 11:57AM UTC

Vertex Pharmaceuticals Incorporated's stock (VRTX) surged in the intraday levels, managing to shake off negative pressure from the 50-day SMA, coupled with positive signals from the RSI after reaching oversold levels, amid the dominance of the main upward trend in the medium and short terms, marking a strong profit of 3.14% in the last session, or 10.16 points, and settling at 333.78.

 

Therefore we expect more gains for the stock, targeting the resistance of 354.46, provided the support of 323.61 holds on.

 

Expected trend for today: Bullish

Dick's Sporting Goods returns higher - Analysis - 05-06-2023

Economies.com
2023-06-05 11:57AM UTC

Dick's Sporting Goods' stock (DKS) returned higher in the intraday levels amid positive signals from the RSI, marking a profit of 1.73% in the last session, or 2.18 points, and settling at 128.41, amid the dominance of the downward correctional short-term wave, with negative pressure from the 50-day SMA, while the RSI reached overbought levels compared to the stock's movements. 

 

Therefore we expect the stock to return lower, targeting the support of 119.22, provided the resistance of 136.66 holds on.

 

Expected trend for today: Bearish

Midday update for Brent oil 05-06-2023

Economies.com
2023-06-05 09:31AM UTC

Brent oil price trades with strong positivity to move away from 76.80 level and reach the thresholds of the waited target at 78.90, and the way seems open to continue the rise and surpass this level to open the way to rally towards 80.95 areas that represent the next positive station.

 

Therefore, the bullish trend will remain valid and active for today unless breaking 76.80 and holding below it.

 

The expected trading range for today is between 75.50 support and 78.90 resistance.

 

The expected trend for today: Bullish

Midday update for Crude oil 05-06-2023

Economies.com
2023-06-05 09:31AM UTC

Crude oil price rallied upwards strongly to start attacking 73.80 level, waiting to breach this level to confirm the continuation of the expected bullish trend for today, which its next target located at 76.10.

 

Therefore, we will continue to suggest the bullish trend for today supported by the EMA50, noting that failing to surpass 73.80 will push the price to rebound bearishly and head to test 71.55 areas before any new attempt to rise.

 

The expected trading range for today is between 71.20 support and 74.50 resistance.

 

The expected trend for today: Bullish