Tag: AUS200

CFD Indices – Banking Stocks And Exxon Mobil Dragged US Indices Lower.

Shueh Ting Wong

Market News

  • Last Friday, Wall Street’s main indexes finished lower, weighed down by big U.S. banks such as Wells Fargo, JPMorgan and Citigroup after their earnings reports, while the energy sector fell sharply due to a regulatory probe into Exxon Mobil.
  • Exxon shares plunged 7.8% after a report said that the U.S. Securities and Exchange Commission launched an investigation of the oil major, following a whistleblower’s complaint that it overvalued a key asset in the prolific Permian shale oil basin.
  • A big burst of federal aid for U.S. states and local governments in Democratic President-elect Joe Biden’s massive fiscal stimulus plan helped higher-yielding debt from lower-rated issuers in the U.S. municipal bond market.

Market Views

  • Asian markets were mixed on Monday morning as data confirmed China’s economy had bounced back last quarter as factory output jumped, helping offset recent disappointing news on U.S. consumer spending. Hang Seng index gained 155 points while Nikkei 225 index fell 236 points.
  • The pick-up in China was a marked contrast to the U.S. and Europe, where the spread of coronavirus has scarred consumer spending, underlined by dismal U.S. retail sales reported on Friday.

Dow Jones Index
(CFD Symbol: US30)
Trend :
Recommendation :
Last : 30,782
Target price:
Protective stop:

Outlook
This index has fallen back inside the ascending channel last Friday. It is now testing the 20EMA support at 30,630. Once the 20EMA is violated, we are likely to see price moving towards the lower boundary of the channel support at 29,870. Stochastic is still strong as it has been trading at the overbought region for an extended period. MACD remains bullish but there is a bearish crossover. There is also MACD divergence warning.

Trading Idea
Sell 30,950 for 30,350 with a stop above 31,290.

Hang Seng Index
(CFD Symbol: HK50)
Trend :
Recommendation :
Last : 28,698
Target price:
Protective stop:

Outlook
This index penetrated above its previous resistance high of 28,067 last Wednesday after breaking out from the descending channel on 29 Dec 20. The 20EMA is still rising and is providing support at 27,600. It is going to test our target price zone of 28,990-29,120 soon. Stochastic is at the overbought zone while the MACD is bullish and is moving higher.

Trading Idea
Wait for better trading idea.

Nasdaq 100 Index
(CFD Symbol: USTEC)
Trend :
Recommendation :
Last : 12,767
Target price :
Protective stop:

Outlook
This index created a new all-time high at 13,134 on 8 Jan. Price has slightly violated the 20EMA support at 12,790. The 20EMA could also turn bearish. With the divergence warning given from both the Stochastic and MACD, we could see price moving lower towards 12,300. Stochastic is falling now. MACD is still bullish but there is a bearish crossover.

Trading Idea
Sell 12,850 with a stop above 13,100 for 12,400.

Australian 200 Index
(CFD Symbol: AUS200)
Trend:
Recommendation:
Last: 6651
Target price:
Protective stop:

Outlook
This index is now consolidating within the Triangle chart pattern. It is likely to test the lower boundary of the Triangle at 6580. The 20EMA is also flat, confirming the sideway now.  Stochastic is falling now. MACD is still bullish but both lines are near to the zero line, and there is also divergence warning given from the MACD that warn for potential reversal. A Triangle breakdown would hint for a deeper downward movement.

Trading Idea
Wait for better trading idea

Related Posts

CFD Indices – US Market Declined On Higher Weekly Jobless Claims

Shueh Ting Wong

Market News

  • Stocks on Wall Street opened lower, but closed with a rebound from early lows, on the heels of weekly initial jobless claims data that spiked by 137,000 to a seasonally adjusted 853,000, well above expectations for 725,000 and the highest level since mid-September, underscoring the need for fresh stimulus measures to support a flagging economy.
  • Few signs of progress towards a coronavirus relief package emerged as negotiations dragged on. While lawmakers seek to pass a bill before lifelines expire at the end of 2020, disagreement over state and local stimulus, unemployment assistance and stimulus checks still exist.
  • Post-Brexit trade talks between U.K. and European Union remain at an impasse over several notable issues including fishing rights and competition rules. EU Commission President Ursula Von der Leyen described the two sides as “far apart, but Prime Minister Boris Johnson said there was a “strong possibility” the nation could split from the EU with a trade agreement.

Market Views

  • Asian markets were mixed on Friday morning as concerns about U.S. stimulus and climbing COVID-19 cases weighed globally on optimism. Hang Seng index rose 141 points while Nikkei 225 index declined 138 points.
  • Oil prices climbed nearly 3%, with Brent hitting levels not seen since early March, on hopes of a speedier recovery thanks to COVID-19 vaccines. Brent crude rose 2.8%, and U.S. West Texas Intermediate (WTI) crude rose 2.8%.

Dow Jones Index
(CFD Symbol: US30)
Trend :
Recommendation : Long @ 30,150
Last : 30,011
Target price: 30,500
Protective stop: 29,850

Outlook
This index has been moving higher steadily along with the rising 20EMA, after breaking above the resistance high at 29,195. We could see price continuing its upward momentum for further upside towards 31,120, as long as it stays above the 20EMA at 29,720. Stochastic is still strong but just had a bearish crossover. MACD remains bullish at the moment.

Trading Idea
Buy 30,150 for 30,500 with a stop below 29,850. Entry order was filled on 10 Dec

Hang Seng Index
(CFD Symbol: HK50)
Trend :
Recommendation :
Last : 26,501
Target price:
Protective stop:

Outlook
This index is still moving within a consolidation range. It is being resisted at 27,070 for the fifth times, and it will need to break above this resistance for more upside. Price is fluctuating around the 20EMA at the moment, but as long as it can stay above the lower boundary of 25,900, it will continue ranging. A violation of 25,900 would see downside at 25,150. Stochastic is falling. MACD is still bullish but there is a bearish crossover.

Trading Idea
Wait for better trading idea.

Nasdaq 100 Index
(CFD Symbol: USTec)
Trend :
Recommendation : Long @ 12,510
Last : 12,368
Target price : 12,800
Protective stop: 12,400 Triggered

Outlook
This index has created an all-time high at 12,673 on 9 Dec, but ended the day with a big Bearish Engulfing candlestick pattern. It is now testing the 20EMA at 12,260 and if this support fails, we could see price moving lower towards 11,810. Stochastic is falling at the moment. MACD is still bullish but there is a bearish crossover.

Trading Idea
Buy 12,510 for 12,800 with a stop below 12,400. Stop was triggered on10 Dec.

Australian 200 Index
(CFD Symbol: AUS200)
Trend:
Recommendation:
Last: 6635
Target price:
Protective stop:

Outlook
Price could have formed a potential Double Top chart pattern. It is crucial to watch for the support at 6504. If this index violates this support, the Double Top reversal pattern will be confirmed and we could see price falling towards 6260 by using the Double Top projection method. There is divergence warning given from both the Stochastic and MACD. A bearish Stochastic crossover is likely although the MACD is still bullish.

Trading Idea
Wait for better trading idea

Related Posts

CFD Indices -NASDAQ & S&P 500 Rose To Fresh High

Shueh Ting Wong

Market News

  • Stocks rose across the globe on Friday to close at a fresh high and remain on track for their strongest monthly performance on record but the Nasdaq outperformed on Wall Street but Treasury yields fell, indicating lingering concerns over rising coronavirus cases globally.
  • In the latest development on the road toward developing a vaccine against COVID-19, Britain gave drugmaker AstraZeneca the green light despite experts raising questions about the vaccine’s trial data. The race for a medical solution to the pandemic has led to promising vaccines from Pfizer Inc, Moderna Inc and others, fuelling optimism for light at the end of the tunnel.
  • The Trump administration is poised to add China’s top chipmaker SMIC and national offshore oil and gas producer CNOOC to a blacklist of alleged Chinese military companies, according to a document and sources, curbing their access to U.S. investors and escalating tensions with Beijing weeks before President-elect Joe Biden takes office.

Market Views

  • Markets in Asia Pacific were mixed on Monday morning as the prospect of a vaccine-driven economic recovery next year and yet more free money from central banks eclipsed concerns about the coronavirus pandemic in the near-term. Hang Seng index fell 106 points while Nikkei 225 index gained 22 points.
  • OPEC and allies led by Russia have yet to find a consensus on oil output policy for 2021, after an initial round of talks on Sunday and ahead of crucial meetings on Monday and Tuesday, four OPEC+ sources told Reuters. OPEC+ is now considering rolling over existing cuts of 7.7 million barrels per day, or around 8% of global demand, into the first months of 2021, sources have said.

Dow Jones Index
(CFD Symbol: US30)
Trend :
Recommendation : Short @30,170
Last : 29,781
Target price: 29,600
Protective stop: 30,170

Outlook
Price is now trading within the zone of 29,160-30,090, which is the 20EMA and the resistance-turned-support zone. There is potential divergence warning given from the MACD that warned for a potential top. If price breaks below 29,160, we could see price moving lower towards 28,550. Stochastic is at the overbought region. MACD remains bullish and there is a bearish crossover.

Trading Idea
Trading sell at 30,170 for 29,600 with a stop above 30,270. Entry was filled on 25 Nov. Shift stop lower to cost at 30,170

Hang Seng Index
(CFD Symbol: HK50)
Trend :
Recommendation :
Last : 26,773
Target price:
Protective stop:

Outlook
Price is now moving within a consolidation range. It is being resisted at 27,070 twice, and it will need to break above this resistance for more upside. A violation of 26,615 would suggest a correction towards the gap support zone at 25,930. Stochastic is falling from the overbought region. MACD is still bullish now but there is a bearish crossover.

Trading Idea
Buy 26,200 for 27,100 with a stop below 25,900.

Nasdaq 100 Index
(CFD Symbol: USTec)
Trend :
Recommendation :Short @ 12,175.
Last : 12,268
Target price : 12,070
Protective stop: 12,230 Triggered.

Outlook
This index has been moving higher after being supported by the rising 20EMA. It is going to test the overhead resistance at 12,410 which capped the rally twice. A break above this resistance would hint for more upside. Stochastic is moving higher now. MACD is still bullish but is also relatively weak, and could be forming potential divergence warning.

Trading Idea
Trading sell 12,175 for 12,070 with a stop above 12,230. Entry was filled on 26 Nov. Stop was triggered on 27 Nov.

Australian 200 Index
(CFD Symbol: AUS200)
Trend:
Recommendation:
Last: 6551
Target price:
Protective stop:

Outlook
Price is now having a correction after forming the Harami reversal candlestick pattern on 25 Nov. This index can be moving lower towards the first layer of support at 20EMA at 6468, and if price further violates this support, we could expect a further downside towards 6286. Stochastic is moving lower from the overbought zone. MACD is still bullish but there is a bearish crossover and also the divergence warning

Trading Idea
Wait for better trading idea

Related Posts

CFD Indices – Fiscal Stimulus Stalemate Weighs On US Indices

Shueh Ting Wong

Market News

  • U.S. stocks closed lower on Tuesday, with the S&P 500 and Dow snapping a seven-day streak of gains and falling late in the session on growing uncertainty about breaking a stalemate in Washington over a fiscal stimulus deal.
  • The day’s declines followed comments from U.S. Senate Republican leader Mitch McConnell, who told Fox News that White House negotiators had not spoken on Tuesday with Democratic leaders in the U.S. Congress on coronavirus aid legislation after talks broke down last week.
  • New Zealand opened the region on a grim note after the Pacific nation reported its first coronavirus infections in more than 100 days, and their Prime Minister Jacinda Ardern announced she was re-locking down Auckland after four new cases of COVID-19 were discovered in the city.

Market Views

  • Asian stocks were set for choppy trade on Wednesday morning after Wall Street dipped amid growing uncertainty about an additional round of U.S. fiscal stimulus. Nikkei 225 index was up 38 points while Hang Seng index slid 42 points.
  • Gold prices fell more than 5% overnight, the worst one-day decline in seven years as investors’ risk appetite returned, boosting the U.S. stocks. Spot gold tumbled as much as 5.51% to $1,927.30 per ounce, down sharply from Friday’s record intraday high of $2,089.20.

Dow Jones Index
(CFD Symbol: US30)
Trend :
Recommendation :
Last : 27,752
Target price:
Protective stop:

Outlook
This index has continued its upward momentum and has been rising higher after breaking out from the triangle pattern that started since 20 Jun. The 20EMA is rising at the moment, confirming the bullish trend, and also acting as the first layer of support at the moment at 26,980. The triangle target lies at 29,490. Stochastic is at the overbought region and could be turning down. MACD is also bullish at the moment.

Trading Idea
Wait for better trading idea

Hang Seng Index
(CFD Symbol: HK50)
Trend :
Recommendation :
Last : 24,872
Target price:
Protective stop:

Outlook
Price rebounded from its previous low support two days ago, and is now testing the 20EMA resistance point. There is a divergence warning given from the MACD that hint for potential reversal. This index has to penetrate above 25,330 in order to move higher. A violation of 24,240 would bring price lower towards 23,510. Stochastic is still moving up. MACD is bearish but had a bullish crossover.

Trading Idea
Wait for better trading idea

Nasdaq 100 Index
(CFD Symbol: USTec)
Trend :
Recommendation :
Last : 10,917
Target price :
Protective stop:

Outlook
There was a price correction that brought price lower to test its first 20EMA support at 10,860 from its all-time high of 11,291. We see a rebound at this point for a test of its high again. A break of this support zone will hint for deeper correction at 10,310. Stochastic is falling at the moment. MACD is bullish but had a bearish crossover, and could have formed a potential divergence warning.

Trading Idea
Buy 10,910 with a stop below 10,780 for 11,250

Australian 200 Index
(CFD Symbol: AUS200)
Trend:
Recommendation:
Last: 6157
Target price:
Protective stop:

Outlook
This index has been moving within a triangle pattern since early Jun. It is now trading near its upper end of the triangle resistance at 6247. We expect price to continue its consolidation until either end of the triangle is broken. Price has to surpass this level for a breakout and for an upside at 6555, else, we are likely to see price moving lower towards 5950. Stochastic is moving up at the moment and MACD is bullish.

Trading Idea
Wait for better trading idea

Related Posts

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