Market analysis from Saxo

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AMC Short Term We look to Buy a break of 10.48 (stop at 9.53) The trend of higher lows is located at 10.33. This is positive for sentiment and the uptrend has potential to return. There is scope for mild selling at the open but losses should be limited. Further upside is expected. Our profit targets will be 13.86 and 15.50 Resistance: 14.00 / 16.00 /...

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Ethereum Intraday We look to Sell at 1239 (stop at 1291) Early optimism is likely to lead to gains although extended attempts higher are expected to fail. Daily signals are bearish. There is no clear indication that the downward move is coming to an end. We look for a temporary move higher. Bespoke resistance is located at 1250. Our profit targets will be...

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Lemonade Short Term We look to Sell at 22.81 (stop at 25.17) Preferred trade is to sell into rallies. Trades with a bearish descending triangle formation. Previous resistance located at 23.00. The medium term bias remains bullish. There is scope for mild upward pressure at the open but we look for selling interest to resist gains. Our profit targets will...

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Palantir Technology Short Term We look to Sell at 10.57 (stop at 11.75) The medium term bias remains bearish. Preferred trade is to sell into rallies. We have a 50% Fibonacci pullback level of 10.65 from 14.86 to 6.44. The daily chart technicals suggests further upside before the downtrend returns. Our profit targets will be 6.43 and 6.01 Resistance:...

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Ethereum Intraday We look to Sell at 1248 (stop at 1301) Early optimism is likely to lead to gains although extended attempts higher are expected to fail. Daily signals are bearish. There is no clear indication that the downward move is coming to an end. We look for a temporary move higher. Bespoke resistance is located at 1250. Our profit targets will be...

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Beyond Meat Short Term We look to Sell at 27.76 (stop at 29.59) Further downside is expected and we prefer to set shorts in early trade. The medium term bias remains bearish. Previous resistance located at 28.50. There is scope for mild upward pressure at the open but we look for selling interest to resist gains. Our profit targets will be 21.80 and 15.40...

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MecardoLibre Medium Term We look to Sell at 692.89 (stop at 756.88) Preferred trade is to sell into rallies. The medium term bias remains bearish. A Fibonacci confluence area is located at 438.30. Previous support located at 430.00. There is scope for mild buying at the open but gains should be limited. Our profit targets will be 444.73 and 372.00...

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Bitcoin Intraday We look to Sell a break of 19987 (stop at 20701) With signals for sentiment at oversold extremes, the dip could not be extended. We have a 78.6% Fibonacci pullback level of 17800 from 3850 to 69000. Trading close to the psychological 20000 level. 20080 has been pivotal. A break of bespoke support at 20000, and the move lower is already...

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Amazon Short Term We look to Buy at 105.87 (stop at 100.99) Preferred trade is to buy on dips. The reaction higher is positive and highlights a clear reversal. Previous support located at 100.00. Risk/reward is ample to call a buy trade. Our profit targets will be 116.09 and 125.19 Resistance: 129.00 / 135.00 / 170.00 Support: 100.00 / 85.00 / 67.27 ...

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Tesla Short Term We look to Sell at 774.80 (stop at 827.00) We look to sell rallies. Trading within a Bearish Channel formation. A higher correction is expected. Expect trading to remain mixed and volatile. Previous resistance located at 775.00. Our profit targets will be 621.11 and 539.00 Resistance: 775.00 / 1000.00 / 1240.00 Support: 621.00 / 540.00 /...

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Ethereum Intraday We look to Sell at 1249 (stop at 1301) Daily signals are bearish. There is no clear indication that the downward move is coming to an end. We look for a temporary move lower. Bespoke resistance is located at 1250. Our profit targets will be 1121 and 1071 Resistance: 1170 / 1200 / 1250 Support: 1100 / 1050 / 1000 Disclaimer – Saxo Bank...

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Sanofi Short Term We look to Buy at 95.00 (stop at 91.90) The medium term bias remains bullish. Levels close to the 50% pullback level of 93.25 found buyers. Previous support located at 93.08. Further upside is expected and we look to set longs in early trade. Our profit targets will be 104.35 and 110.00 Resistance: 95.16 / 98.22 / 104.35 Support: 93.25...

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BP. (BP.) Short Term We look to Buy at 390.00 (stop at 373.30) The medium term bias remains bullish. The trend of higher lows is located at 377.50. Dips continue to attract buyers. Our overall sentiment remains bullish looking for higher levels. Our profit targets will be 455.50 and 480.00 Resistance: 396.00 / 419.35 / 456.00 Support: 377.50 / 364.10 /...

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Bitcoin Intraday We look to Buy at 20102 (stop at 19769) We are trading at oversold extremes. Trading close to the psychological 20000 level. 20080 has been pivotal. With signals for sentiment at oversold extremes, the dip could not be extended. Support is located at 20000 and should stem dips to this area. Our profit targets will be 21788 and 22288...

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Kongsberg Automotive Short Term We look to Buy at 2.29 (stop at 2.19) We look to buy dips. Choppy price action seen. Previous support located at 2.30. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher. Our profit targets will be 2.62 and 2.91 Resistance: 2.80 / 2.93 / 3.30 Support: 2.30 / 2.00 / 1.35 ...

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Norwegian Air Shuttle Short Term We look to Buy a break of 9.21 (stop at 8.34) We look to buy dips. Previous resistance located at 12.70. Previous support located at 9.00. Trading within the Channel formation. We look for a temporary move higher. Our profit targets will be 12.69 and 13.49 Resistance: 11.50 / 12.70 / 24.00 Support: 9.00 / 6.00 / 5.00 ...

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Activision Short Term We look to Sell at 75.92 (stop at 78.77) Preferred trade is to sell into rallies. Previous support level of 76.45 broken. Selling continued from the 61.8% pullback level of 85.33. There is ample scope for a move lower from this important resistance. Closed below the 20-day EMA . Our profit targets will be 65.12 and 56.10 Resistance:...

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Litecoin Intraday We look to Buy at 43.64 (stop at 41.44) We look to buy dips. Although the anticipated move higher is corrective, it does offer ample risk/reward today. Previous support located at 43.50. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher. Our profit targets will be 50.73 and 54.19...