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Should I Buy More or Sell My Apple Share?? What Do You Guys Think?
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By AdrianaLowe
The theme over this last trading week has been one of remarkable resilience. After breaking down from key resistance levels, it seemed that a period of consolidation would follow. But, globally, markets instead rallied with conviction to retest their highs.
I have been sceptical about the sustainability of the rally this year. But one of the most fundamental axioms of surviving the markets is to trade what you see, not what you believe. And what I am seeing is markets that seem to want to push higher across the board, with individual stocks holding up well even when faced with bearish news.
S&P 500
(credit: chart from Sigma by Hydra X)
The S&P closed the week strongly at 2,822.48, up 0.5% on high volume, and on the back of its biggest weekly gain since November 2018. US markets seem insistent on forging a path higher despite the overhang of earnings, macro economy news, North Korea, and ongoing China trade talks. I still wait for price to break and close clear of the congestion zone around 2,800 before entering longs, but this looks increasingly like a environment where the only rational positions to take are either to be flat or long.
MICROSOFT
(credit: chart from Sigma by Hydra X)
Gains this week were led by tech, with the sector surging 4.9%, and also becoming the best performing sector of 2019. I find MSFT interesting, having completed a bullish inverse head and shoulders pattern, rallying in a tight rising channel, and strongly testing resistance (and also its all-time highs) on high volume. But a spinning top candlestick in the midst of overhead resistance, and a bearish stochastic crossover which in overbought territory could translate into a pullback, which could provide interesting entries for longs.
TESLA
(credit: chart from Sigma by Hydra X)
A good litmus test for market sentiment is how stocks behave on news. Tesla has held on to $275 support despite its Model Y unveiling event underwhelming analysts; BAML, CFRA Research and Canaccord Genuity all issued cautionary notes. If it gets there, $260 looks to be strong support for a countertrend rally.
BOEING
(credit: chart from Sigma by Hydra X)
Boeing continued to suffer the aftermath of the latest tragedy, ultimately having to suspend its entire fleet of 737 MAX planes when the FAA finally followed the lead of global aviation authorities in grounding the plane. Deliveries of the 737 MAX have also been paused. The beleaguered company faces an indeterminate outcome from investigations, bills from airlines affected by the grounding of the plane, as well as potential suits from the families of victims. On Thursday, the US Air Force joined the party. It launched a blistering attack on Boeing, saying that the company has a ‘severe situation’ after flawed inspections of their KC-46 air refuelling tanker aircraft, and questioning the company’s ‘culture of discipline for safety’. [https://www.cnn.com/2019/03/14/politics/air-force-boeing-refueling-plane/index.html] Despite all this, the stock has proven remarkably well supported at $370, repeatedly rallying from those levels on high volume.
FACEBOOK
(credit: chart from Sigma by Hydra X)
No company has had a worse week than FB, even within the context of its bad year. The week started with a proposal by Senator Elizabeth Warren to break up FB, was followed by a network outage affecting its Facebook, WhatsApp and Instagram services, and then announcements of a widening federal criminal probe into its data sharing practices. Two key executives, Chris Cox and Chris Daniels also announced their departures from the company. A nadir was reached when its Facebook application was used to livestream the hate-driven massacre of 49 people in New Zealand.
Technically, the stock has broken below the bottom of its ascending channel, and key overhead resistance in the $170-173 region looks daunting. There is also a huge gap from Feb 2019 waiting to be closed.
Yet in spite of the weak technical picture and the deluge of negative news, FB closed just 2.13% down for the week, and ended the trading session on Friday well above the lows of the day, forming a bullish hammer. While I have been waiting for a clear break in one direction or the other for a while, as rising channel met overhead resistance, I choose to stay as interested spectators for now.
EUR/USD
(credit: chart from Sigma by Hydra X)
Finally, last week I noted the technical breakdown of key support levels in the EURUSD, in conjunction with fundamentally bearish news in the form of Draghi’s dovish speech. However, I was keen to stay on the sidelines, given past experience of how crowded trades tend to turn out. EURUSD didn’t disappoint, as it promptly rose in a stop-hunting rally, which would have trapped any short entries in a very uncomfortable position.
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By HFblogNews · Posted
Date: 22nd January 2025. Netflix Earnings Surge Driving the NASDAQ to Monthly Highs! The NASDAQ increases in value for a fourth consecutive day, gaining momentum after Netflix stocks rise more than 15%. Earnings reports are gaining speed for the technology sector, but why has Netflix stocks seen such a high and sudden rise in demand? Netflix Stocks Increase 15% Supporting the NASDAQ! Netflix stocks have been one of the best-performing stocks within the NASDAQ, rising more than 79% in 12 months. However, even for Netflix, a 15% rise in less than 24 hours is considered substantial. The quarterly earnings report was made public by Netflix after the market closed on Tuesday. The earnings report confirmed the following: Netflix beat their earnings per share expectations - $4.27 reported vs $4.21 expectations. Netflix’s revenue surpasses the previous quarter - $10.25 billion this quarter vs $9.82 billion in the previous quarter. The online streaming company confirms projects to expand into live sport and event streaming will proceed. In addition to this, the company’s forward guidance for 2025 remains positive. Netflix is the 10th most influential company for the NASDAQ meaning the positive earnings data and bullish price movement supports the overall price of the NASDAQ. In addition to this, the positive earnings improve the sentiment towards the entire US technology sector. Investors will now turn their attention to the quarterly earnings report for Intuitive Surgical. Intuitive Surgical stocks on Tuesday rose 1.94%. How is the Economy And Politics Affecting the NASDAQ? The US stock market is witnessing an upward correction after struggling in the last weeks of 2024. The bullish price movement is a result of a sharp decline in bond yields, the new US administration and earnings season. Investors remain relieved that bond yields have fallen back down from the 5.00% level. If bond yields continue to decline further, particularly below 4.50%, the move would be deemed as positive for the US stock market. President Trump took office on Monday and so far the pro-US rhetoric from the President, Vice President and Secretary of State continues to support the stock market. So far, the main concern is how upcoming tariffs can negatively affect inflation and growth. However, some economists advise tariffs will become the “norm” and may have a lesser effect compared to 2018. However, this is something traders will continue to evaluate and monitor. The VIX this morning fell 0.83% lower and trades more than 5.70% lower over a 7-days. The lower VIX indicates a higher risk appetite towards the stock market. If the VIX continues to decline a strong buy indication may materialize. On the most influential stocks for the NASDAQ, 82% rose in value on Tuesday. However, Apple stocks, the most impactful stock, fell 3.19% due to poor sell data. If Apple stocks continue to decline, the NASDAQ’s upward trend may come under strain. In the meantime, investors over the next week will continue to monitor upcoming earnings reports. NASDAQ - Technical Analysis The price of the index is trading significantly higher than all Moving Averages on a 2-hour timeframe and relatively high on oscillators. These factors indicate that buyers are controlling the order book. However, price action also confirms the latest impulse wave measures 3.43% which is normally the point at which the index retraces. This is something that investors may also consider. The retracement potentially also may be triggered by Netflix buyers quickly selling to cash in profit after the sudden 15% bullish surge. If a retracement does indeed form, price action and the 75-period EMA indicates that the pullback may drop as low as $21,391.30. Key Takeaways: The NASDAQ increases in value for a fourth consecutive day, but price action signals a possible retracement before continuing its bullish trend. Netflix stocks increase more than 15% due to strong earnings data. Netflix beat earnings and revenue expectations by 1.39% and confirmed projects to add live sports streaming to its platforms. The VIX trades more than 5.70% lower over a 7-days and US Bond Yields remain at recent lows. On the most influential stocks for the NASDAQ, 82% rose in value on Tuesday. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Michalis Efthymiou HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission. -
By Stocks4life · Posted
DASH DoorDash stock, watch for a top of range breakout at https://stockconsultant.com/?DASH -
By Stocks4life · Posted
SYF Synchrony Financial stock with a top of range breakout at https://stockconsultant.com/?SYF -
By Stocks4life · Posted
RKLB Rocket Labstock, big rally off support and breakout at https://stockconsultant.com/?RKLB -
By Stocks4life · Posted
RDW Redwire stock, what a launch off the 14.16 support area at https://stockconsultant.com/?RDW
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