After being denied a chance to merge with Asda, shares of Sainbury's suffered another hit and tested the all time lows from June 2016. Now a perfect chance to get in with buyers or see if the level breaks in an impulsive move and sell.
Price confirmed the downtrend line last week. Now a good opportunity to buy on the impulsive break of the trend lone or wait and see if we retest the green buy zone. RBNZ rates are coming on Wednesday at 3AM London time and could set this pair on a massive trending move so getting in the trade early could mitigate risk of getting caught in volatility.
After disappointing profit forecasts 3M suffered massive fall in stock prices. Now retesting a key weekly trend line. Offers a great risk-reward to buy near a loading zone and get on the train with the rest of the buyers, as long as the zone holds.
While SP500 managed to make new all time highs briefly, the Dow struggles at resistance zone around 26700. Trump's announcement over the weekend to increase tariffs on China from 10% to 25% signals a setback in trade war talks and should send panic through the markets tomorrow and Dow could retest the green support zone. Further selling only possible if 26000...
Price reached resistance before Bank of Canada releases its rates today at 3PM London time, expected no change so all eyes on the rhetoric. Potential to get in early before the data. Short through support zone on an impulsive candle. Or wait for the break higher and go long, a retest would give more confirmation.
Daily shows overbought with candles showing rejection on the upper side of the channel. A short can be placed if we see an impulsive below 105 level on to test the uptrend line, better with a spike in volume as well. If not, a long is likely on bounce from the 105 zone.
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Looks like a right shoulder could be forming, weekly chart offers a nice view and divergence for the H&S pattern. A break to the low through 200SMA on a daily chart could signal a nice short. J&J tasked a Federal Judge to take over the 2400 lawsuits because of the baby powder fiasco so company is still dealing with the fallout.
Could be a good trade for next...
After breaking from the down trend line, spike through 5000 level. Now approaching previous broken support. Potential to short there as price could fall to retest the lows again near 3000. Weekly 200SMA is also very good support level.
Weekly chart confirmed the trend line with a 3rd touch. Daily chart shows inverse H&S pattern with RSI and MACD divergences. This could break to the upside after Easter holidays. Great reward to risk ratio.
Price approaching the buy zone again and could test the uptrend line again soon. Move cause by upbeat US PMI today.
Perfect buying opportunity with a stop buffer below the zone. First target at the recent highs.
RBA hawkish tone overnight strengthened AUD, now approaching resistance at round number, testing yesterday's highs. Look for reversals and patterns on smaller time frames, or see if the price continues to push higher.
Another touch and bounce on the uptrend line after rejecting at the top of the range. Wait and see if we pull back from here to enter short early on a smaller time frame before the line break. Or looks for reversal patterns.