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Alcoa: Chance for a Bearish Reversal A confluence of bearish indications Alcoa's share price is currently probing the psychologically significant resistance level at 40.00, which serves as the upper boundary of a major accumulation range. The latter's lower end is represented by the support level at 17.00. Breaking higher would prove quite difficult for the share price due to the massive selling pressure that is to be found just past the upper end of the range. Despite the fact that Alcoa shares have been on the rise over the past 4 months, the continuation of the rally will find strong opposition around the major turning point at 40.00. The resistance is currently being crossed by the descending trend line (in red), which increases the likelihood of a bearish rebound occurring from the current level. Moreover, the 300-day MA (n purple) and the 200-day MA (in orange) are also advancing parallel to the resistance level, making it even less likely for the rally to continue uninterrupted. However, that is not to say that potential fakeouts to the 45.00-50.00 range are entirely impossible. Meanwhile, the Stochastic RSI indicator is ringing the "overbought" bell as bullish bias reaches a climax. This could give bears more reasons to step up and increase the selling pressure at this swing peak, which would consequently support the emergence of a new correction. The nearest support can be found around the 100-day MA (in blue), which can presently be found at 27.40. In other words, an imminent correction from the latest peak would entail a likely dropdown of more than $13 (32%) in the share price. Alcoa's robust quarterly performance The latest upswing was largely inspired by the strong earnings data that the mining giant posted recently. According to the findings of the earnings report for Q1: Revenue grew to $2.87 billion, up from the $2.38 billion from one year ago EPS (earnings per share) grew to $0.79, far surpassing the negative $0.23 EPS that were posted for the same period last year Even still, the market has already had more than two weeks to price in this performance, and the "market excitement" factor that drove the hike is thus likely to start waning down soon.
NYSE:AAShort
by Trendsharks
Trading Idea - XiaomiTo be clear! To me this is one of the most difficult analyzes at this point in time! BUY LIMIT Entry: 2.20 EUR Target 1: 2.90 EUR Target 2: 3.10 EUR Target 3: 3.60 EUR 1.) Xiaomi shares are sinking after the US government added the smartphone group to an investment blacklist, in a move that is likely to thin its ranks of American shareholders. (Jan. 2021) 2.) (Reuters) - Samsung Electronics Co Ltd reclaimed its crown as the world's biggest smartphone maker from Apple in the first quarter, cornering a fifth of overall global shipments. China's Xiaomi Corp rounded out the top three positions with its best quarterly performance ever as shipments surged 62% to 49 million phones and its market share rose to 14%, market research firm Canalys said. 3.) Xiaomi announced to spend 1.5 Billion USD in New Smart Electric Vehicle Unit. Usually this is the news that triggers a hype. Xiaomi shares remained unaffected. Not a good sign. 4.) From a technical point of view, there is still a small way down. The support line is there (2.20 EUR), but it would have to hold a second time for the stock to attempt a second upward attack.
FWB:3CP
by Traderherz-Analytics
Tesla Buy setupESP released this week with forecast at 0.44$ for the last quarter up from previous 0.02$. Analysts at Goldman Sachs suggest they'll settle at 28%, up from 20% currently. Another question is whether the tax will be applied retroactively or not. The last time capital-gains taxes were hiked, in 2013, the wealthiest households sold 1% of their equity assets, the Goldman analysts found. According to the Federal Reserve's distributional financial account data (link), the top 1% held $17.79 trillion of equities and mutual funds in the fourth quarter of 2020 -- so a 1% selling of stocks this time would be $178 billion. Technically the market has been in a corrective state following the sell off. I will be looking for longs at the right point where the market presents clear indications. The above setup is what I see for now unless another view presents itself. Like and comment. Namaste
NASDAQ:TSLALong
by Nasdaq_Diaries
Begbies Traynor LSE - Classic Cup and Handle on daily chart Hi everyone, Just giving a quick analysis on one of the AIM-listed stocks on the LSE (London/UK). As you can see, there is a clear cup and handle forming on the daily chart, and it is an incredibly clean example in reference to what you would technically find in a text book. The resistance is at 115p, and this week it has seen a breach above next to the 120p level. The company itself is also fairly good on the fundamental side - its latest fundraising (secondary offering to help finance another acquisition) was recently oversubscribed and the placing price was above market price, which the share price higher from 105p to 115p. As it is seemingly breaking resistance now, the question is about whether there will be a retest of the 115p level, or whether it will continue above 120p and onwards. Canaccord currently has a 170p price target on the stock, as issued earlier in March. The cup and handle may signify a strong climb as the UK eases lockdown. Another buying opportunity would be in the case where the price will fall to the lower red upwards trendline, which seems to be a good support for the price. Disclaimer: I hold BEG at 105p average. Please do not take as professional financial advice. Always do your DD. Thanks!
LSE:BEGLong
by michaeldobfx
DJI disconnects from the USTech100The disconnection of the DJI and USTech100 has happened before for short amounts of time. In the last limb of price you see this happening. The question is 'what happens next?' Unfortunately my crystal ball broke a long time ago, and I'm not purchasing a new one on Ebay. 😂 This is one to watch. The H&S on the USTech100 is not predictive. There are also some disconnections of the so-called 'asian' stock indices from the DJI. Some want to know what it means. I don't care what it means. I follow trends. Disclaimers : This is not advice or encouragement to trade securities on live accounts. Chart positions shown are not suggestions. No predictions and no guarantees supplied or implied. Heavy losses can be expected if trading live accounts. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
WHSELFINVEST:USTECH100CFD
by Captain_Walker
Will the Xiaomi share go up again?The Xiaomi shares lost close to 23% of its value since 5th January 2021. Investors are a bit insecure because of some bad news during the past weeks. The USA put Xiaomi on a blacklist, which means that Americans will be banned from buying the shares. Furthermore, there is is a problem with the latest mobile, launched on 8th February 2021. Apparently, the problem has something to do with the battery. Those news are the reason for the dip. In a long-term scenario, the stock will most likely go up again, as the sales figures are rising. Xiaomi will resolve the problem with the phone and as Americans don't hold a lot of shares from Xiaomi, the development will not have a great impact on the long-term trend of the share price. Additionally, the company reached some solidly financial results and has a great philosophy. Long-term investors who are holding Xiaomi shares shouldn't be concerned with the latest development, even though the share price will very likely fall somewhat initially. Also, the next days or weeks might be a good chance to get in and buy some Xiaomi shares.
HKEX:1810
by trading-champ