TAGS: Technical analysis software
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News in Brief
Bloomberg:
- S&P Flat; Tesla drops; IBM gains in late trading.
- Stocks face hit as $800 billion stimulus to fade, Citi says.
MarketWatch:
- Opinion: With Tesla stock and margins under pressure, Elon Musk falls back on his favorite fantasy.
- Tesla stock falls 6% as price cuts hit quarterly profit margins.
- IBM boasts how AI can improve productivity, pays up to $260 million in ‘stranded costs’ after laying off thousands.
- Inflation is the ‘one thing’ holding up revenue growth, warns Morgan Stanley’s Wilson of a potential selloff in stocks.
yahoo! finance:
- Tesla Q1 earnings call vibe check: Unprepared and unexciting.
- Disney plans more layoffs next week.
Global indexes did not top out yet but remains flat.
Global Indexes
S&P 500
The S&P 500 closed unchanged. It is still above its EMA8 line with resistance above.
DAX
The DAX closed only slightly higher with another small body candle.
HANG SENG
The HANG SENG is also flat, trading just above its 50-day moving average and below its EMA8 line.
NYSE & NASDAQ Stocks
Tesla Inc
Tesla started its downward path 2 weeks ago (insider information?). The 6 % drop the news mention is in after hours trading. It might drop much more once markets open today. Notice the M formation (inverse of W).
Walt Disney Inc
Its 200- day and 50-day moving averages acted as resistance for Walt Disney. Frontrunner is showing the direction downwards.
JSE Stocks
JSE All Shares
The JSE All Shares is showing the first signs of topping out: Piercing negative candle, Frontrunner breaking down, MACD changing color and we are in overbought territory.
AngloGold Ashanti Ltd
After nearly a 4 week rally, gold shares started to break down. AngloGold Ashanti broke its positive trend line with a 5% drop for the day. Frontrunner broke down with the engulfing bear candle and the MACD is about to break.
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.
