TAGS: Technical analysis
News in Brief
Bloomberg:
- Most of Dubai’s newly listed shares are trading below IPO price
- Stocks waver after rout with Fed, China in focus
- Stocks close off lows in run-up to Powell’s speech
- Stocks seesaw in Asia amid focus on China, Fed
MarketWatch:
- Some markets cheer China vows to vaccinate more elderly. Analysts see positive movement by officials
- China protests are biggest threat to communist Party since Tiananmen Square, Kyle Bass says
- More than two years since the start of the pandemic, nearly 30% of employees are still working from home
- ‘It was not sustainable or real’: Tech layoffs approach great recession levels
Markets are hesitant ahead of Powell’s speech.
Global Indexes
S&P 500
The S&P 500 closed with a small body candle awaiting Powell’s speech.
DAX
The DAX is still busy with its sideways movement and closed on its EMA8 line.
HANG SENG
A previous gap is still acting as resistance for the HANG SENG.
NYSE & NASDAQ Stocks
Apple Inc
Its 200-day moving average and negative trend line acted as resistance for Apple. The price is below its 50-day moving average again in all negative territory.
Paypal Holdings Inc
Its 200-day moving average also acted as resistance for Paypal. Most shares are still below their 200-day moving average and before that is not broken, we are still in negative territory.
JSE Stocks
JSE All Shares
The JSE All Shares made another attempt to break resistance, only to close below it. It touched its short-term resistance the 7th time with a long-legged candle.
Kumba Iron Ore Ltd
Kumba Iron Ore is still busy building its flag. Notice how the 200-day moving average acted as resistance when the flag started forming.
Algomodel Strategies, Education & Features
Click on Education or go to the home page to view education posts.
Frontrunner, Gaps, Trend and Cyclic Indicators are explained in these education posts.
All stock graphs are shown with a Trend Candles Template which is a feature available in Algomodel Signals Pro.
