CFD Trading 24 May 2019

Goldman Sachs Group Inc Stock Code GS.NYS

Outlook

Price broke below the cloud after trying unsuccessfully to move above it for a few days. A gap resistance at $201 also capped the advance together with Conversion line. Price is now below the cloud as well as the Base and Conversion lines. It is likely to move lower to the first gap support at $185.65. MACD gave a bearish divergence warning when price was on the second rally, which is a hint of a price high. MACD has turned bearish, indicating a likely price decline.

Strategy

$197.80 Sell
$185.70 Price Target
$201.40 Risk Management Stop
4 weeks Trade Duration

Devon Energy Corp Stock Code DVN.NYS

Outlook

Price broke a price support at $29.86 yesterday and closed the day at its low. This is bearish sign even if price has not moved below the cloud. Price is below both the Conversion and Base lines and is capped by the faster Conversion line. The trend is bearish and price is likely to move lower to either $26.65 or the stronger support at $24.19. MACD has turned bearish and is moving lower.

Strategy

$29.75 Sell
$24.20 Price Target
$32.20 Risk Management Stop
4 weeks Trade Duration

Related Posts

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.