Market analysis from Saxo

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Qualcomm - Short Term - We look to Sell a break of 170.96 (stop at 181.39) Intraday signals are bearish. Previous support level of 174.00 broken. Closed below the 50-day EMA. We look for losses to be extended today. We look to set shorts in the early trade. Our profit targets will be 138.48 and 130.12 Resistance: 174.00 / 190.00 / 200.00 Support: 164.00...

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Ethereum - Intraday - We look to Sell at 3239 (stop at 3302) Daily signals are bearish. Short term bias is bearish. 50 4hour EMA is at 3245. Preferred trade is to sell into rallies. Our profit targets will be 3055 and 3011 Resistance: 3200 / 3300 / 3400 Support: 3100 / 3000 / 2900 Disclaimer – Saxo Bank Group. Please be reminded – you alone are...

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Sunrun - Intraday - We look to Sell at 29.04 (stop at 30.03) Previous support level of 30.00 broken. We look for losses to be extended today. Closed below the 20-day EMA. The primary trend remains bearish. We look to set shorts in the early trade. Our profit targets will be 26.22 and 23.50 Resistance: 30.00 / 32.00 / 35.00 Support: 25.00 / 23.00 /...

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ArcelorMittal - Short Term - We look to Buy at 29.48 (stop at 27.95) Preferred trade is to buy on dips. Previous resistance at 30.00 now becomes support. We have a 38.2% Fibonacci pullback level of 29.24 from 23.12 to 33.02. The bias is still for higher levels and we look for any dips to be limited. Risk/Reward would be poor to call a buy from current levels....

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Renault - Short Term - We look to Sell at 34.46 (stop at 35.55) Trading within the Channel formation. Price action has continued to trend strongly higher and has stalled at the previous resistance near 35.00. We look for a temporary move lower. Selling spikes offers good risk/reward. Our profit targets will be 31.88 and 30.29 Resistance: 35.00 / 37.00 /...

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Bitcoin - Intraday - We look to Buy at 40706 (stop at 40098) We are trading at oversold extremes. The medium term bias remains bullish. Dips continue to attract buyers. 40500 has been pivotal. We look to buy dips. Our profit targets will be 42317 and 43117 Resistance: 42800 / 43500 / 44000 Support: 41200 / 40500 / 39500 Disclaimer – Saxo Bank Group....

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BESI - Short Term - We look to Buy at 79.56 (stop at 73.28) We look to buy dips. We have a 38.2% Fibonacci pullback level of 81.24 from 68.34 to 89.20. The primary trend remains bullish. 50 1day EMA is at 77.00. Risk/Reward would be poor to call a buy from current levels. Our profit targets will be 95.06 and 99.50 Resistance: 90.00 / 100.00 / 110.00 ...

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Kahoot! - Short Term - We look to Sell at 48.75 (stop at 54.80) Prices are extending lower from the bearish flag/pennant formation. Continued downward momentum from 54.45 resulted in the pair posting net daily losses yesterday. The medium term bias remains bearish. The continuation lower in prices through support has been impressive with strong momentum and...

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LTCUSD - Intraday - We look to Buy at 144.39 (stop at 140.30) Preferred trade is to buy on dips. Previous support located at 145.00. The bias is still for higher levels and we look for any dips to be limited. Intraday signals are bullish. Further upside is expected although we prefer to set longs at our bespoke support levels at 145.00, resulting in improved...

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Bitcoin - Intraday - We look to Buy a break of 43626 (stop at 42876) Although the bears are in control, the stalling negative momentum indicates a turnaround is possible. Neckline resistance 43600. The bias is to break to the upside. Our outlook is bullish. Offers ample risk/reward to buy at the market. Our profit targets will be 45688 and 46688 ...

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Ethereum - Intraday - We look to Buy at 3331 (stop at 3269) Short term bias is mildly bullish. Prices have reacted from 2926. Price action is forming a bullish flag which has a bias to break to the upside. 50 4hour EMA is at 3320. 20 1day EMA is at 3520. Our profit targets will be 3519 and 3589 Resistance: 3400 / 3450 / 3500 Support: 3330 / 3260 /...

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Novavax - Intraday - We look to Sell at 110.96 (stop at 127.66) Previous support level of 120.00 broken. Daily signals are bearish. We look for losses to be extended today. The bias is still for lower levels and we look for any gains to be limited. Our profit targets will be 77.28 and 55.00 Resistance: 120.00 / 140.00 / 150.00 Support: 110.00 / 80.00 /...

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GameStop - Short Term - We look to Sell a break of 118.66 (stop at 132.19) Rallies continue to attract sellers. Daily signals are bearish. Trading volume is increasing. The bias is still for lower levels and we look for any gains to be limited. We look to set shorts in the early trade. Our profit targets will be 62.74 and 42.00 Resistance: 160.00 / 200.00...

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Google - Short Term - We look to Sell at 2782.42 (stop at 2865.00) We look to sell rallies. Previous support level of 2800.00 broken. Trading volume is increasing. The bias is still for lower levels and we look for any gains to be limited. Closed below the 20-day EMA. We look to set shorts in the early trade. Our profit targets will be 2624.41 and 2500.00 ...

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Bitcoin - Intraday - We look to Buy at 40751 (stop at 40168) Dips continue to attract buyers. We look for a temporary move lower. With signals for sentiment at oversold extremes, the dip could not be extended. Our profit targets will be 43395 and 43900 Resistance: 42800 / 43500 / 44000 Support: 42000 / 41000 / 40500 Disclaimer – Saxo Bank Group. Please...

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Alphabet - Short Term - We look to Sell at 2807.00 (stop at 2861.00) We look to sell rallies. Previous support level of 2800.00 broken. Trading volume is increasing. The bias is still for lower levels and we look for any gains to be limited. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 2800.00, resulting in...

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Tesco - Short Term - We look to Buy at 284.00 (stop at 275.00) Preferred trade is to buy on dips. 50 1day EMA is at 282.00. The bias is still for higher levels and we look for any dips to be limited. Daily signals are bullish. Dip buying offers good risk/reward. Our profit targets will be 308.00 and 320.00 Resistance: 300.00 / 310.00 / 320.00 Support: ...

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Marathon Digital Holdings - Short Term - We look to Sell at 33.35 (stop at 38.33) We look to sell rallies. Previous support, now becomes resistance at 32.00. 20 1day EMA is at 34.00. The bias is still for lower levels and we look for any gains to be limited. Our profit targets will be 21.26 and 19.75 Resistance: 32.00 / 40.00 / 50.00 Support: 25.00 /...