Current Support: 69-70
Near-Term support: 63
I like Gilead for fundo reasons (massive FCF) but the market is correctly worried about declining hep c revenues and the lack of a transformative acquisition. The trend is clearly down with regards to price, MACD, and RSI. RSI trend-line needs to reverse in order for price to appreciate in my view.
I like GILD for fundamental reasons but the market is worried about declining hep c revenues and the chart is clear. could bottom here at 69-70, but if it goes below 69 I think we revisit 63 where there is pretty strong support. RSI is in a clear downtrend, which needs to be cleared before price and momentum can reverse positively
Possible H&S, top of left shoulder/neckling is in the low 90s, an area that has been hit a few times. The 2009 trend-line broke in 2015. MACD is positive and looks like it could have a postivie cross-over. CCI and RSI both trendling lower, but not low enough to warrant a bottom. Leaning bearish but signals are mixed.
Still think rates will head lower due for a myriad of reasons, but in the short term, it is plausible that rates will go higher for technical reasons.
Longer-Term Reasons for lower rates (i.e. lower for longer)-
1) Monetary Policy remains accommodative
2) Growth/Inflation expectations remain subdued
3) Foreign buying interest from places with negative yields on...
I'd say closer to a short than a long, but we still need a clearer picture. A break 24.5/25 would be bullish, a break below 20 or so, bearish. THink we will move one way or the other in the coming months based on important fundos such as Spanish Election, Brexit, US election, China, etc.
Might be H&S forming, but also could break higher. Not really sure right now, but it looks like a big move could be underway. MACD looks a bit unclear, CCI appears to be bottoming, RSI looks like it could rebound but near 50.
New phone looks to be a bust, and is just meant to be a filler pre-7 release.
RSI under 70 and drifting lower
MACD trending negative, and appearing topped out
LT Trend line from 09 broken
00 and 08 bubbles looked very similar in these 3 regards.
on the fundamentals front- china devaluation, removal of qe & 0% rates from the fed, energy and commodities crash, etc.
Draghi jaw boning or further QE could put the immediate moves into question.. From just reading the char however, the euro seems to be staging a relief rally (MACD about to cross bullish, oversold yet recovering RSI, bottoming out Coppock curve. Over-head resistance sits ~1.25, where I think EUR will fail and reverse, break thru parity, and sink test the all time...
Near term catalyst-
Bullish engulfing on 7/7
Bullish MACD crossing
Broken distribution trend line
RSI breaks out of over-sold conditions.
In the intermediate term, CHK still appears to be moving in a range. Based on the upper line, it looks like 14 will be an important area. It it breaks through 14, there is a gap at ~18.50 that may be filled. If it meets...
Stocks look ove-extended, and the rally is long in the tooth. CAPE Ratio & the Buffet Indicator are also at or ne
Stocks are hanging on a thread, sitting right on the 2009-Present trend-line.
The 20 bar is sitting well above the 50 bar however.
There are a few divergences-
Bearish MACD crossing
Declining RSI and long-term broken trend-line
Declining CCI and...
If policies continue to diverge, there will be strong fundamentals in place to justify a stronger dollar relative to the euro.
From a technical standpoint, the long term support line appears to be broken.
The 20v 50 day cross-over suggest momentum will be downward sloping.
Bearish MACD cross-over is not a good sign.
RSI may be over-sold but the down-trend...
Not sure which way this will move (but I would learn towards up). The chart & the indicators all seem to point to a big thrust in one direction or another soon. Probably need to watch rates & the dollar closely to get a clue as to where gold and gold miners are heading.
I don' really know how to evaluate the fundamentals of TWTR so this analysis is mostly about the chart..
Support seems to be strong from 35-37. I think the upside risk-reward is much better here, but probably need sell stops below 34ish. Gap left open at ~42, and the top of the parallel trend-line is ~50.
History is on the side of the Rising RSI & Bullish...
Technicals look fairly good, but perhaps slightly over-brought in the near term.
GILD's monster quarter helped the shares jolt upward and break through the medium-term downtrend that hit the stock after fears over margins for Harvoni & Sovaldi.
- Q1 Earnings: Decimated Revs & EPS
-Q1 Earnings:Margins not hit as badly as expected
-HIV & Nash mitigate one trick...