GBPNZD - 20h expiry - We look to Sell at 1.9279 (stop at 1.9361) Our short term bias remains negative. The 50% Fibonacci retracement is located at 1.9275 from 28/11/2022 to 01/12/2022. Bespoke resistance is located at 1.9282. Preferred trade is to sell into rallies. Our profit targets will be 1.9095 and 1.9000 Resistance: 1.9250 / 1.9275 / 1.9282 Support:...
AT&T - 30d expiry - We look to Sell at 20.68 (stop at 21.62) The previous swing high is located at 20.90. There is no clear indication that the upward move is coming to an end. Early optimism is likely to lead to gains although extended attempts higher are expected to fail. Resistance is located at 20.90 and should cap gains to this area. Expect trading to...
US500 - Intraday - We look to Sell at 3969 (stop at 3994) Posted Mixed Daily results for the last 3 days. Intraday, and we are between bespoke support and resistance 3913-3969. The medium term bias remains bearish. Preferred trade is to sell into rallies. Our profit targets will be 3913 and 3700 Resistance: 3969 / 4050 / 4097 Support: 3913 / 3700 /...
ASML Holding - 30d expiry - We look to Buy a break of 591 (stop at 559) Daily signals are bullish. There is no clear indication that the upward move is coming to an end. Short term momentum is bullish. This stock has seen good sales growth. A break of the recent high at 588 should result in a further move higher. The bias is to break to the upside. The...
Carnival Corporation - 30d expiry - We look to Sell at 10.88 (stop at 11.67) The primary trend remains bearish. Prices have reacted from 6.11. Early optimism is likely to lead to gains although extended attempts higher are expected to fail. 11.00 continues to hold back the bulls. 11.49 has been pivotal. The previous swing high is located at 11.19. Preferred...
NIK225 - 21h expiry - We look to Sell at 27925 (stop at 28140) Buying pressure from 27410 resulted in prices rejecting the dip. With the Ichimoku cloud resistance above we expect gains to be limited. Preferred trade is to sell into rallies. Although the anticipated move lower is corrective, it does offer ample risk/reward today. Our profit targets will be...
Pinterest - 30d expiry - We look to Sell at 25.49 (stop at 26.71) Posted a Treble Top formation. The primary trend remains bearish. In our opinion this stock is overvalued. Intraday rallies continue to attract sellers and there is no clear indication that this sequence for trading is coming to an end. 26.14 has been pivotal. 26 continues to hold back the...
EasyJet - 30d expiry - We look to Buy at 351.1 (stop at 332.9) A bullish reverse Head and Shoulders is forming. Levels below 350 continue to attract buyers. Bespoke support is located at 345. We look to buy dips. This stock has seen good sales growth. 338 has been pivotal. Our profit targets will be 396.6 and 406.6 Resistance: 375 / 400 / 430 Support:...
Barclays - 30d expiry - We look to Sell at 172.38 (stop at 178.52) 175 continues to hold back the bulls. Broken out of the Head and Shoulders formation to the upside. The primary trend remains bearish. Bespoke resistance is located at 173. Early optimism is likely to lead to gains although extended attempts higher are expected to fail. Resistance could...
Plug Power - 30d expiry - We look to Sell at 19.18 (stop at 20.73) Broken out of the Head and Shoulders formation to the downside. Our short term bias remains negative. Bespoke resistance is located at 19.00. Preferred trade is to sell into rallies. Daily signals are bearish. We are trading at oversold extremes. Our profit targets will be 15.31 and 15.01...
LVMH - 30d expiry - We look to Buy a break of 713 (stop at 695) The primary trend remains bullish. Posted a bullish Flag formation. A break of 714 is needed to confirm the outlook. 712 has been pivotal. The measured move target is 760. Our outlook is bullish. Our profit targets will be 758 and 768 Resistance: 705 / 713 / 730 Support: 689 / 680 /...
Euronav - 30d expiry - We look to Sell a break of 17.96 (stop at 18.72) Bearish divergence can be seen on the daily chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower. The bearish engulfing candle on the 4 hour chart is negative for sentiment. 17.99 has...
NASDAQ - Intraday - We look to Buy at 11611 (stop at 11494) Buying pressure from 11726 resulted in all the initial daily selloff being recaptured. A Fibonacci confluence area is located at 12002. The bias remains mildly bullish but there is scope for a move in either direction at the open. Bespoke support is located at 11615. Our profit targets will be...
NIK225 - 21h expiry - We look to Sell at 28455 (stop at 28650) We are trading at overbought extremes. A lower correction is expected. Previous resistance located at 28339. Preferred trade is to sell into rallies. Although the anticipated move lower is corrective, it does offer ample risk/reward today. Our profit targets will be 27895 and 27515 Resistance:...
TKWY - 30d expiry - We look to Sell a break of 20.38 (stop at 21.53) The primary trend remains bearish. We are trading at overbought extremes. A higher correction is expected. The bearish engulfing candle on the daily chart is negative for sentiment. 50 4hour EMA is at 20.44. A break of the recent low at 20.44 should result in a further move lower. Our...
US500 - Intraday - We look to Buy at 3907 (stop at 3859) A Fibonacci confluence area is located at 4038. Bespoke support is located at 3905. The previous swing low is located at 3904. Dips continue to attract buyers. Our profit targets will be 4038 and 4055 Resistance: 4038 / 4042 / 4055 Support: 3905 / 3902 / 3487 Disclaimer – Saxo Bank Group. Please...
Alfen - 30d expiry - We look to Buy a break of 94.04 (stop at 90.68) Prices have reacted from 80.44. The bullish engulfing candle on the 4 hour chart the positive for sentiment. 93.92 has been pivotal. A break of the recent high at 93.92 should result in a further move higher. The primary trend remains bullish. The bias is still for higher levels and we look...
Advanced Micro Devices - 30d expiry - We look to Sell a break of 55.48 (stop at 59.11) Price action is forming a bearish flag which has a bias to break to the downside. A break of the recent low at 57.17 should result in a further move lower. Daily signals are bearish. There is no clear indication that the downward move is coming to an end. Our overall...