Victora's Secret & Co's stock (VSCO) rose anew in the last session and closed above the pivotal resistance of 43.75, amid the dominance of the upward correctional trend in the short term, with positive pressure from the 50-day SMA, marking a profit of 0.41%, or 18 cents, and settling at 44.17.
Therefore we expect more gains for the stock, targeting the resistance of 50.70, provided it settles above 43.75.
Expected trend for today: Bullish
Tesla's stock (TSLA) tumbled in the intraday levels and closed at two-year lows amid concerns about renewed Covid 19 restrictions in China, which would hurt demand on cars, while the company announced a series of large recalls in the US for issues with taillights.
The stock thus tumbled 6.84% in the last session, or 12.32 points, settling at 167.87, with trading volumes surpassing 92.8 million shares, below 10-day averages of 98.6 million shares.
Technically, the stock breached the pivotal support of 177.63, with negative signals from the RSI, amid the dominance of the downward trend in the medium and short terms, with negative pressure from the 50-day SMA.
Therefore we expect the stock to decline and target the support of 141.80, provided it settles below 177.63.
Expected trend for today: Bearish
American Eagle Outfitters' stock (AEO) rose in the intraday levels while buoyed by piercing the downward short-term trend line, while dominated by the upward correctional trend, with support from the 50-day SMA, marking a profit of 0.62% in the last session, or 8 cents, and settling at 13.00, with positive signals from the RSI after recently venting off its overbought saturation.
Therefore we expect more gains for the stock, targeting the pivotal resistance of 14.18, provided the support of 11.16 holds on.
Expected trend for today: Bullish
Invesco's stock (QQQ) fell in the intraday levels amid negative signals from the RSI after reaching overbought levels, amid the dominance of the main downward trend in the short term, while marking a loss of 1.03%, or 2.93 points, settling at 291.89, with support from the 50-day SMA.
Therefore we expect more losses for the stock, targeting the support of 269.28, provided the resistance of 290.87 holds on.
Expected trend for today: Bearish