CFD Trading – Micron & Pepsico

Micron Technology Stock Code MU.NAS

Outlook
Price opened up a gap last night. This is a sign of a strong upward movement. While price was capped by the downtrend line from the high and the Base line, MACD momentum is bullish. MACD has been consolidating above the zero line and it looks like MACD could be turning up soon. Price is above the cloud and was supported by the cloud when there was a correction earlier. The correction also managed to stay above the recent low. This is now the support area. The recent decline managed to find support just above the Fibonacci 50% correction point of the rally from the low of $32.20 to the high of 48.81. A break above the downtrend line, Base line and the recent resistance at $45 could lead to a rally to $48.81. As long as the gap created last night is not closed, there is a good chance to seeing a test of this high.

Strategy

$44.73                Buy
$48.80                Price Target
$41.50                Risk Management Stop
3 weeks              Trade Duration

Pepsico Inc Stock Code PEP.NAS

Outlook
Price broke above an important high at 135.24 last night and managed to close above this previous resistance point. As long as price stays above this point, the uptrend should continue. Price is above the cloud, above both the Conversion and Base lines, which is a sign of a bullish trend. Lagging Span confirms as it is above price of 26 days ago as well as above the cloud. MACD also confirms the bullish uptrend. MACD is bullish and both of its lines are above the zero lines. MACD is rising and looks like it will continue to rise in the short term. Using the V Ichimoku price projection, price can go higher to 146.78.

Strategy
$135.30              Buy
$146.70              Price Target
$131.30              Risk Management Stop
3 weeks              Trade Duration

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