American Stock Exchange

Solid ECN

Well-known member
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On the daily chart, the fifth wave of the higher level (5) is developing, in which wave 3 of (5) appeared and the fourth wave 4 of (5) is developing. At the moment, wave a of 4 has formed, wave b of 4 has completed, and the formation of wave c of 4 has begun, in which the wave of the lower level (iii) of c is being completed.

If the assumption is right, the fall of the pair will continue to the levels of 144.62 - 131.35. The level of 192.89 is critical and stop-loss for this scenario.

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The leading index of the Frankfurt Stock Exchange DAX 30 is trading at 14300. The German stock market shows a slight corrective growth after the publication of positive financial statements of the main components.

Earlier, the national postal service Deutsche Post AG presented its data, which reported revenue of 22.59B euros, which significantly exceeded the analysts' forecast, which assumed a value of 20.54B euros. Earnings per share also exceeded preliminary market estimates of 0.9309 euros and amounted to 1.0800 euros. The statistics of the world's largest automaker, Volkswagen AG, also turned out to be positive: quarterly revenue was recorded at 62.74B euros, exceeding the forecast of 61.55B euros. Earnings per share amounted to 13.05 euros, which is the highest since Q1 2020. Siemens AG's medical equipment manufacturing division, Siemens Healthineers AG, reported revenue of 5.46B euros, improving both analysts' forecast of 4.98B euros and the previous quarter's figure of 5.07B euros. Earnings per share have become a record since 2018, amounting to 0.67 euros per share.

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On the daily chart, the index is preparing to start working out the local Flag pattern. Technical indicators will soon reverse and give a signal for the start of purchases: the range of EMA fluctuations on the alligator indicator has begun to actively narrow, and the histogram of the AO oscillator is approaching the transition level, forming ascending bars.

Support levels: 13555, 12460 | Resistance levels: 14500, 15710​
 
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The leading index of the London Stock Exchange FTSE 100 demonstrates local corrective dynamics and is now at the level of 7487.0. As expected, after the Bank of England raised the interest rate from 0.75% to 1.00% at yesterday's monetary policy meeting, the stock market of the United Kingdom moved to a decline, since adjusting the value is always a negative aspect for risky assets such as stocks.

As for the corporate segment itself, the presented financial statements turned out to be ambiguous. Thus, Royal Gold Inc., a company engaged in the sale of precious metals and royalties, reported revenue of 162.36M pounds, exceeding analysts' preliminary estimates of 140.45M pounds, while earnings per share amounted to 0.99 pounds against the forecast of 0.86 pounds. Shell Oil and Gas Concern Plc recorded a 26% increase in net profit, despite the loss of 3.9B dollars after leaving the Russian market. Among the negative reports, another oil and gas giant, British Petroleum Plc, should be noted, which reported a drop in quarterly revenue to 49.26B pounds from 52.24B pounds. The final financial result was also affected by estimated losses of 25B dollars due to the loss of the Russian sales market.

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The index quotes continue to trade within the framework of the global Broadening Formation pattern and after reaching the resistance line, they show a decline. Technical indicators remain in the state of a sell signal, which is still very weak: the range of EMA fluctuations on the alligator indicator is directed down, and the histogram of the AO oscillator is in the sales zone.

Support levels: 7361, 7020 | Resistance levels: 7670, 7900​
 
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The leading index of the US economy, the S&P 500, is correcting downwards, being under pressure from the upward dynamics in the bond market, and is now trading at 4083.5.

The publication period for corporate reports ends, and its results rather disappointed investors. Among the companies that presented their data at the end of last week, the main competitor of Tesla Inc., the American electric car manufacturer Lucid Group Inc. is worth noting. The issuer increased quarterly revenue to 57.68M dollars, which exceeds 26.39M dollars, received in the previous quarter, and 313K dollars in 2021. Earnings per share narrowly missed the positive zone, stopping at –0.05 dollars, which is much better than the loss of –0.64 dollars a quarter earlier. Positive dynamics develop due to the growing demand for the luxury model of the Lucid Air electric car. The company's customers have already reserved more than 30K cars, which will bring the company revenue of about 2.9B dollars.

Serious pressure on risky assets is exerted by the situation in the domestic bond market. For example, the popular 10-year Treasury reached an all-time fall 2018 all-time high of 3.142%, rising from 2.950% in a week, while 20-year bonds are trading at a yield of 3.4606%, which is higher than the 3.2214% shown at the beginning of the month. Only annual bonds did not grow over the past week. Its yield is 2.106%.

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The index quotes are traded in a global downward channel, falling towards the support line. Technical indicators hold a global sell signal: fast EMAs on the Alligator indicator are below the signal line, and the AO oscillator histogram is trading in the sell zone, forming down bars.

Resistance levels: 4280, 4590 | Support levels: 4000, 3800​
 
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On the daily chart, the third upward wave of the higher level (3) developed, and a downward correction forms as the fourth wave (4). Now, the wave C of (4) is developing, within which the fifth wave of the lower level v of C is developing.

If the assumption is correct, the price will fall to the levels of 2150.5 - 2034.7. In this scenario, critical stop loss level is 2465.74.

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The Australian stock market continues to trade in a downtrend after releasing poor financial data on major components and growth in the bond market. At the moment, the ASX 200 index is declining around 7038.0.

Corporate reporting remains ambiguous. Thus, the investment bank Macquarie Group Ltd. reported quarterly revenue of 10.80B AUD, well above the forecast of 7.90B, while advertising giant REA Group Ltd. reported revenue of just 278M AUD, below the forecast of 284.8M AUD, and the indicator of the previous quarter of 326.4M. Thus, given that most market participants have already presented their results, support for the index from this segment is not expected, and the main attention of investors will now be turned to the dynamics of bonds.

The global growth in the securities market, preventing the recovery of ASX 200 quotes, continues. So, during today's trading, the yield of popular 10-year bonds of Australia reaches 3.545%, and the rate of return on conservative 20-year bonds is 3.884%, increasing by 1.24% relative to the beginning of the week. Short-term instruments demonstrate more restrained growth, and annual papers are traded with a yield of 2.071%.

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The price of the asset moves within the global side channel, approaching the support line. Technical indicators keep a stable sell signal: fast EMAs of the alligator indicator are below the signal line, and the AO oscillator histogram is deep in the sell zone, continuing to form downward bars.

Support levels: 6900, 6500 | Resistance levels: 7175, 7620​
 
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The German stock market shows a slight corrective growth against the backdrop of positive reporting and a decline in the bond market. At the moment, the leading index of the Frankfurt Stock Exchange DAX 30 is being corrected, trading at around 13600.

The day before, investors watched the release of the financial results of Bayer AG, which reported earnings per share of 3.53 euros, which greatly exceeded the previous quarter's figure of 1.26 euros and exceeded the forecast of 2.96 euros. In turn, the company's revenue for the first time since 2015 amounted to 14.64 billion euros, which turned out to be much better than the expected 13.82 billion euros, and also exceeded the figure of the previous quarter at the level of 11.12 billion euros.

In addition, the recent correction in the domestic bond market may contribute to the local growth of the index. Thus, 10-year German Treasuries are trading at a yield of 1.0105%, down from 1.1370% at the end of last week. The conservative 20-year bonds are trading at 1.117%, below the 1.200% shown on Friday.

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On the global chart of the asset, the price forms a local Flag pattern, the implementation of which may lead to a continuation of corrective growth. Technical indicators maintain a sell signal: the range of EMA fluctuations on the Alligator indicator is still wide, and the AO oscillator histogram is forming descending bars being near the transition level.

Support levels: 13275, 12420 | Resistance levels: 14240, 15100​
 
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The shares of Snap Inc., the American company that owns the Snapchat messaging service, are falling around 21.

On the daily chart of the asset, a global downtrend is forming, within which the price began to implement the Triangle pattern: the support line at 32 was successfully broken, and now, sell positions can be active.

On a four-hour chart, the price renewed the year's minimum at 24, and now, the main target for the downward movement is around 12.

Technical indicators confirm the high probability of continuing the global decline, maintaining a stable sell signal: indicator Alligator's EMA fluctuations range actively expands downwards, and the histogram of the AO oscillator grows in the sell zone.

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The shares of Dupont De Nemours Inc., one of the world's largest chemical companies, are trading lower at 63.

On the daily chart, the price left the global sideways channel of 68 - 85, breaking the support line at 68, after which it consolidated in a downtrend, forming the necessary reverse test. On the four-hour chart, the current decline is developing within the downwards channel, and the quotes approached the support line, which runs around the level of 60.

Technical indicators confirm a high probability of further decline, maintaining a stable sell signal: fast EMAs on the Alligator indicator are well below the signal line, and the AO oscillator histogram is trading deep in the sell zone.

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One of the leading indexes of the American economy Dow Jones moves downward around 32080.

The main news of the past week was the statement of the head of Tesla Inc., Elon Musk, that the deal to buy the social network Twitter is temporarily suspended due to verification of data confirming calculations that fake accounts make up no more than 5% of the total number of daily active users. Shares of the service immediately reacted to this with a drop of 25%, although they later partially recouped losses after the entrepreneur, in a new tweet, said that he still intends to complete the deal.

Meanwhile, the yield on the popular 10-year government bonds fell to 2.908% late last week, while the conservative 20-year notes lost just over 1.00% and are now trading at 3.3057%, which is still quite high, so the negative pressure on the stock market remains.

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The asset moves within a wide downward channel, approaching the support line. Technical indicators maintain a stable sell signal: indicator Alligator’s EMA fluctuations range is actively expanding, and the histogram of the AO oscillator is forming new downward bars in the sell zone.

Resistance levels: 32550, 34100 | Support levels: 31620, 30000​
 
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On the daily chart, the price is falling within a narrow downwards channel, gradually approaching the support line. The key support is the channel's lower line, which coincides with the initial 61.8% Fibonacci extension trend level at 41.

On the 4-hour chart of the asset, it is clear that the global decline will continue, and the channel support line is only an initial target. The global downside target is the underlying trend of 100.0% for the Fibonacci expansion, around 29. Technical indicators also confirm the high probability of further decline: fast EMAs on the Alligator indicator are much lower than the signal line, and the AO oscillator histogram is forming downward bars in the sell zone.

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Visa, technical analysis​

The shares of Visa Inc. Class A, the largest American multinational company providing payment transaction services, are corrected at 203.00.

On the daily chart of the asset, a global side channel is developing with the boundaries of 189 - 235, and at the moment, the price has reversed upwards from its support line.

Primary signs of a reversal appeared on the four-hour chart: the price has broken the local resistance around 200.00. Technical indicators also point to a high probability of continued growth: indicator Alligator’s EMA fluctuations range began to actively narrow, fast EMAs are approaching the signal line, and the AO oscillator histogram began to form new rising bars in the sell zone.

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On the daily chart, the downward wave of the higher level (C) develops, within which the third wave 3 of (C) forms. Now, the wave of the lower level iii of 3 is developing, within which the wave (iii) of iii is forming.

If the assumption is correct, the price will fall to the levels of 89.41–50.00. In this scenario, critical stop loss level is 157.65.

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AT&T, the price may fall.

On the daily chart, the downward third wave of the higher level 3 of (C) develops, within which the wave iii of 3 formed. Now, a local correction has developed as the fourth wave iv of 3, and the fifth wave v of 3 is developing, within which the formation of the wave of the lower level (iv) of v is endning.

If the assumption is correct, after the end of the correction, the price will fall to the levels of 17–14. In this scenario, critical stop loss level is 24.28.

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On the daily chart, the wave A of the higher level formed, and a downward correction develops as the wave B. Now, the wave (А) of B has formed, the correction (B) of B has developed, and the wave (C) of B is forming, within which the fifth wave of the lower level 5 of (C) is developing.

If the assumption is correct, the price will fall to the levels of 132.95 - 80.22. In this scenario, critical stop loss level is 206.31.

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Global sideways correction in the shares of the American diversified corporation General Electric Co. strengthens, and papers are traded slightly above 75.

On the daily chart of the asset, a wide downward channel with dynamic boundaries of 71 - 90 forms, within which the price has reached the support line and renewed the year’s low around 71.

On the four-hour chart, the price is heading upwards and begins to form a Head and shoulders reversal pattern, which target for working out is around the global channel resistance line 90. The readings of technical indicators confirm the high probability of upward dynamics: fast EMAs on the Alligator indicator are actively approaching the signal line, and the AO oscillator histogram is forming new rising bars in the sell zone.

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The shares of Bank of America Corp., one of the largest banks and analytical agencies in the US, are trading within a corrective trend around the level of 36.

On the daily chart of the asset, the price moves within the global downwards channel with dynamic boundaries 29 – 38, declining towards the support line, which coincides with the Fibonacci 61.8% retracement level at 30.

On a four-hour chart, it is clear that to continue the global decline, the instrument needs to consolidate below an intermediate correction of 50.0% Fibonacci around 34. The readings of technical indicators confirm the probability of this scenario: the range of fluctuations of the EMA on the Alligator indicator expands downwards, and the histogram of the AO oscillator forms downward bars in the sell zone.

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The shares of Snap Inc., the US company that owns the Snapchat messenger, are moving in a global downtrend around 13.

On the daily chart of the asset, a global downward channel is forming, which emerged from the Triangle pattern, renewing the year's low at 12.8. During yesterday's trading, the instrument formed a downward price gap, making the prospects for upward dynamics practically zero.

On the four-hour chart, it can be seen that although the quotes are near the channel support line, the most likely scenario will be a further decline to the target levels around 4. Technical indicators keep a stable sell signal: indicator Alligator's EMA fluctuations range actively expands downwards, and the histogram of the AO oscillator increases in the sell zone.

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The shares of Meta Platforms Inc., which owns the world's largest social network Facebook, are trading within a downtrend around 183.

On the daily chart of the asset, a global Triangle pattern is forming with local extremums at 217 and 173, which is a trend continuation pattern, and the breakdown of its lower limit is the most likely scenario now. On a four-hour chart, the trading instrument completes the formation of another downward wave, and after the quotes break the support line at 176, the global decline may continue.

Technical indicators confirm the high probability of negative dynamics reversing downwards: fast EMAs on the Alligator indicator began to move away from the signal line, and the AO oscillator histogram is forming bars with a downward trend in the sell zone.

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The shares of The Home Depot Inc, the world's largest home improvement company, are actively declining, trading around 302.

On the daily chart of the asset, a global downtrend is forming, within which the price is holding above the resistance line of the first stage of correction, forming a channel with dynamic boundaries 279–317. On a four-hour chart, it can be seen that the downwards channel is a slowdown stage for the global decline, the continuation of which may lead to a change in trend and the price reaching a local maximum at 339.

Technical indicators began to weaken the sell signal: the range of fluctuations of the EMA on the alligator indicator is actively narrowing, and the histogram of the AO oscillator is forming rising bars, quickly approaching the transition level.

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