Market analysis from Saxo
Tattooed Chef - Short Term - We look to Sell at 12.92 (stop at 13.77) We look to sell rallies. Posted a Bearish Shooting Star formation. 50 1day EMA is at 13.25. Previous resistance located at 13.00. We look for losses to be extended today. Our profit targets will be 11.05 and 9.65 Resistance: 13.00 / 15.00 / 20.00 Support: 11.00 / 10.00 / 9.00 ...
Bitcoin - Intraday - We look to Sell a break of 41484 (stop at 42222) Daily signals are bearish. We are trading at overbought extremes. A higher correction is expected. A break of bespoke support at 41500, and the move lower is already underway. 41575 has been pivotal. Previous resistance, now becomes support at 39500. Our profit targets will be 39505 and...
Netflix - Short Term - We look to Sell at 358.64 (stop at 378.80) Preferred trade is to sell into rallies. Previous support, now becomes resistance at 360.00. The primary trend remains bearish. The bias is still for lower levels and we look for any gains to be limited. Our profit targets will be 291.27 and 281.07 Resistance: 360.00 / 400.00 / 450.00 ...
Coinbase - Short Term - We look to Sell at 193.04 (stop at 207.65) Preferred trade is to sell into rallies. Trades with a bearish descending triangle formation. Trend line resistance is located at 200.00. The primary trend remains bearish. There is no clear indication that the downward move is coming to an end. Our profit targets will be 137.94 and 129.55 ...
LTCUSD - Intraday - We look to Sell at 107.15 (stop at 111.10) Preferred trade is to sell into rallies. Previous support at 108.00 now becomes resistance. We have a 61.8% Fibonacci pullback level of 108.41 from 116.00 to 96.14. The primary trend remains bearish. Our profit targets will be 96.14 and 91.22 Resistance: 108.00 / 112.00 / 116.00 Support: ...
Microsoft - Short Term - We look to Sell at 297.12 (stop at 305.71) We look to sell rallies. We look to set shorts in early trade for a further test of the fragile looking support. Prices expected to stall near trend line resistance. The trend of lower highs is located at 302.00. Our profit targets will be 261.14 and 254.00 Resistance: 300.00 / 310.00 /...
Qualcomm - Short Term - We look to Sell at 158.32 (stop at 164.45) Preferred trade is to sell into rallies. Previous support level of 160.00 broken. Short term RSI is moving lower. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 160.00, resulting in improved risk/reward. Our profit targets will be 138.25 and...
Ethereum - Intraday - We look to Sell a break of 2479 (stop at 2551) Daily signals are bearish. A break of the recent low at 2484 should result in a further move lower. Bespoke support is located at 2500. There is no clear indication that the downward move is coming to an end. Our profit targets will be 2311 and 2261 Resistance: 2680 / 2800 / 2900 ...
Unity Software - Intraday - We look to Sell at 104.06 (stop at 111.92) Preferred trade is to sell into rallies. Prices expected to stall near trend line resistance. The primary trend remains bearish. Further downside is expected although we prefer to sell into rallies close to the 100.00 level. Our profit targets will be 78.95 and 68.20 Resistance: 95.00...
Novavax - Short Term - We look to Sell at 69.18 (stop at 77.64) Trades with a bearish descending triangle formation. A break of bespoke support at 70.00, and the move lower is already underway. We look for losses to be extended today. We look to set shorts in early trade for a further test of the fragile looking support. Closed below the 20-day EMA. Our...
Bitcoin - Intraday - We look to Buy a break of 43101 (stop at 42298) Bespoke resistance is located at 43000. A break of bespoke resistance at 43000, and the move higher is already underway. Trading has been mixed and volatile. We look for a temporary move higher. Our profit targets will be 45288 and 46188 Resistance: 41800 / 43000 / 44500 Support: 40800...
Airbus - Short Term - We look to Sell at 108.46 (stop at 113.02) Preferred trade is to sell into rallies. Previous support at 107.00 now becomes resistance. 20 1day EMA is at 111.00. Expect trading to remain mixed and volatile. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 107.00, resulting in improved...
Moderna - Short Term - We look to Sell a break of 137.05 (stop at 147.24) A move through bespoke support at 140.00 and we look for extended losses. Closed below the 20-day EMA. The primary trend remains bearish. Our overall sentiment remains bearish looking for lower levels. We look to set shorts in the early trade. Our profit targets will be 108.99 and...
Ethereum - Intraday - We look to Buy a break of 3051 (stop at 2978) Trend line resistance is located at 3000. Trading close to the psychological 3000 level. A break of the recent high at 3050 should result in a further move higher. Short term momentum is bullish. Our profit targets will be 3248 and 3298 Resistance: 3000 / 3050 / 3200 Support: 2880 /...
LTCUSD - Intraday - We look to Buy at 103.39 (stop at 99.97) Preferred trade is to buy on dips. There was little net movement as we continue to consolidate within the 110.00 - 115.00 range. The trend of higher lows is located at 102.00. Previous support located at 100.00. The bias is still for higher levels and we look for any dips to be limited. Our profit...
Micron Technology - Short Term - We look to Buy at 80.79 (stop at 74.96) Previous support located at 82.00. Trend line support is located at 80.00. We have a 78.6% Fibonacci pullback level of 80.01 from 75.52 to 96.50. Preferred trade is to buy on dips. Our profit targets will be 97.55 and 101.50 Resistance: 98.00 / 100.00 / 110.00 Support: 85.00 /...
Bitcoin - Intraday - We look to Sell at 45488 (stop at 46504) Daily signals are mildly bearish. We are trading at overbought extremes. Early optimism is likely to lead to gains although extended attempts higher are expected to fail. Preferred trade is to sell into rallies. 45501 has been pivotal. A higher correction is expected. Our profit targets will be...
MELI - Short Term - We look to Sell at 1166.70 (stop at 1241.12) Preferred trade is to sell into rallies. Closed below the 50-day EMA. Posted a Bearish Shooting Star formation. Previous resistance located at 1150.00. Further downside is expected and we prefer to set shorts in early trade. Our profit targets will be 974.38 and 914.10 Resistance: 1150.00 /...