OIL: $66 | a Global Indicator of Economies & Politicswhen oil is above $50 nations are busy producing goods
as the demand for the sweet crude in emerging markets accelerates
the pullback is necessary to maintain cost of production
otherwise it would be expensive for new economies to compete with developed nations
low priced oil means VOLUME play for producers and the middlemen benefits
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this is also timing for ARAMCO's IPO come 2020 just right to showcase the power of leader
Bellwether
AA: Bad earnings report will push down?Alcoa Corporation
Intraday - We look to Sell at 37.00 (stop at 41.12)
This stock has recently been in the news headlines. A sequence of daily lower lows and highs has been posted. We can see no technical reason for a change of trend. Further downside is expected although we prefer to sell into rallies close to the 37.00 level.
Our profit targets will be 27.48 and 22.00
Resistance: 41.00 / 58.00 / 80.00
Support: 27.50 / 17.50 / 10.00
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
FDX: Overreaction?FedEx Corporation
Short Term - We look to Buy at 161.03 (stop at 148.79)
The company gave a bleak outlook for profits and plunged in the premarket by 20% .We are trading at oversold extremes. A move lower faces tough support and we remain cautious on downside potential. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher. A higher correction is expected.
Our profit targets will be 206.12 and 215.00
Resistance: 200.00 / 240.00 / 320.00
Support: 160.00 / 130.00 / 100.00
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.