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Market Analysis 07 July 2021

tesla jul7

Stock : Tesla

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Trend analysis

Short term

The value has suffered a correction in the last session of one -0.14%. Despite the correction suffered in these last sessions, the short trend is bullish and we could see an upward reaction below 674.97

 

Active order: LONG

Sell if it drops 664.79 (Entry price: 664.79)

Medium term comment

Medium term commentary

The medium-term trend of TSLA price * is still bearish this week. The value maintains a relative behavior equal to the MSCI World Index (MXN). Volatility has descended in the last month. We must be alert for the presence of support 676.89, since it could lead to a detonation of the recent price decrease. The situation of the technical indicators (daily and weekly RSI), alert on the proximity of a soil (detention of the descent) in the market. Attentive to possible bullish divergences in RSI who confirmed this scenario.

Stock : AAL* American Airlines

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Trend analysis

Short-term comment

The value has suffered a correction in the last session of one -0.14%. The monthly variation of one -11.96% is increasing the recoil from the annual maximum that is at -18.05%. The short-term trend is bearish. In a possible price rebound, levels above 21.54 could act as resistance.

Active order: HOLD/BUY

Medium term comment

The medium-term trend of the price of AAL * is still bullish this week. The value maintains a higher relative behavior (22.20%) to the MSCI World Index (MXN). Volatility has descended in the last month.

FOREX: GBP/USD

GBP/USD chart shows a great bullish sign.if you pay attention you can see that the price has managed to break the falling wedge pattern. this is of course a great bullish sign and price is now ready to increase to the top of the wedge pattern once again.there is a high chance that the price does a pullback before continuing the bullish run.

FOREX: EUR/USD

After the price completed the right shoulder of the pattern it is headed to the neckline. It looks like an aggressive move, however, we have to be careful about any pullback before the price drops again. The neckline it’s a very critical point in this pattern.

General Market

The Dow Futures contract was up 30 points, or 0.1%, S&P 500 Futures traded 7 points, or 0.2%, while Nasdaq 100 Futures climbed 70 points, or 0.5%.

Stocks mainly retreated Tuesday, with the blue chip Dow Jones Industrial Average falling over 200 points, or 0.6%, and the broad-based S&P 500 ending down 0.2%, ending a seven-day winning run. The Nasdaq Composite outperformed, rising nearly 0.2% to a fresh all-time high.

Weighing on sentiment was the release of the ISM non-manufacturing index for June, which showed a slight cooling in the red-hot U.S. services sector, falling to 60.1 from 64.0 the previous month. Chinese ADRs, meanwhile, remain vulnerable to the drip feed of information pointing to a crackdown on U.S. listings.

Stocks have hit record highs in recent days, driven by healthy economic data. While an ISM reading above 60 would normally be seen as indicative of a strong economy, concerns are growing that the recovery is peaking while prices remain elevated due to supply chain disruptions and, in some places, labor costs.

In corporate news, Amazon and Microsoft, are likely to be in focus after the Pentagon announced it would cancel its decision to award a $10 billion Cloud computing contract. MIcrosoft was the original winner of the tender, but the work is now likely to be divided between the two tech giants.

Crude prices rebounded Wednesday after Tuesday’s volatile session, with initial sharp gains over the failure of a group of major producers to boost production quickly sold into over concerns the disagreement could bring an end to the group’s previous unity over production levels, potentially resulting in millions of additional barrels a day hitting the market.

Also of interest Wednesday, the American Petroleum Institute will release its weekly estimates of crude inventories after the closing bell, with the previous week’s report showing a draw of 8.1 million barrels.

U.S. crude futures traded 1.6% higher at $74.53 a barrel, after settling 2.4% lower Tuesday, its sharpest loss in three weeks, while the Brent contract rose 1.5% to $75.63, after dropping 3.4% during the previous session.

Elsewhere, gold futures rose 0.8% to $1,807.65/oz, while EUR/USD traded flat at 1.1822.

Written by Editor

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Market Analysis 06 July 2021

Market Analysis 06 July 2021

Philip Morris International

Market Analysis 08 July 2021