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Zoom breaches upward correctional trend line - Analysis - 18-08-2023
Zoom Video Communications' stock (ZM) fell in the intraday levels, confirming the breach of the upward correctional trend line in the short term, with negative pressure from the 50-day SMA, doubling the negative pressure on the stock, especially with negative signals from the RSI even as the stock settled at oversold levels.
Therefore we expect more losses for the stock, targeting the important support of 64.33, provided the resistance of 68.80 holds on.
Expected trend for today: Bearish
Costco attacks important resistance - Analysis - 18-08-2023
Costco Wholesale Corporation's stock (COST) skidded in the intraday levels, breaching the support of the negative technical pattern that formed in the short term, the Double Top pattern, with negative signals from the RSI despite settling at oversold levels, leaning thereafter on the 50-day SMA support.
MoreEli Lilly stalls - Analysis - 18-08-2023
Eli Lilly and Company's stock (LLY) fell in the intraday levels, amid the dominance of the main upward trend in the medium and short terms, with positive pressure from the 50-day SMA, while collecting recent profits, and gathering momentum to rise anew, as the stock vents off overbought saturation in the RSI.
MoreMidday update for Brent oil 18-08-2023
Brent oil price shows more bearish bias to move away from 84.33, reinforcing the expectations of continuing the correctional bearish trend, reminding you that our waited targets begin at 83.15 and extend to 81.90.
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