The Boeing Co.: technical analysis 05.06.2024

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NPBFX offers the latest release of analytics on The Boeing Co. for a better understanding of the current market situation and more efficient trading.

The shares of The Boeing Co., one of the largest manufacturers of aviation and space technology, are moving within the corrective trend at 188.00.

On the daily chart, the price is above the resistance line of the downward corridor 172.00–153.00, which it reverse-tested yesterday.

On the four-hour chart, the continuation of growth is confirmed by the beginning of the implementation of the reversal Head and shoulders pattern with the Neckline of 185.00 and the target of 210.00, which the asset can reach after consolidation above the high of 195.00.

Technical indicators are ready to give a buy signal: fast EMA on the Alligator indicator approaches the signal line, and the AO histogram forms ascending bars above the transition level.

Trading tips

Long positions may be opened after the price grows and consolidates above 192.00, with the target at 208.00. Stop loss — 187.00. Implementation period: 7 days or more.

Short positions may be opened after the price declines and consolidates below 184.00, with the target at 171.00. Stop loss — 188.00.

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Intel Corp.: technical analysis 10.06.2024

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NPBFX offers the latest release of analytics on Intel Corp. for a better understanding of the current market situation and more efficient trading.

Shares of Intel Corp., a giant in the development and sale of electronic devices and computer components, are trading at 31.00.

On the daily chart, the price is moving in a correction trend near the annual low of 29.80.

On the four-hour chart, the sideways trend is part of a downward channel with dynamic boundaries of 35.00–25.50. If the annual high is kept, growth may continue to the resistance line of 35.00. If the quotes consolidate below it, they may reach the support line of the channel at 25.00.

Technical indicators are weakening the sell signal: the EMA fluctuation range on the Alligator indicator remains wide, and the AO histogram is forming correction bars below the transition level.

Trading tips

Long positions may be opened after the price grows and consolidates above 32.10, with the target at 35.10. Stop loss is 31.00. Implementation period: 7 days or more.

Short positions may be opened after the price declines and consolidates below 29.80, with the target at 25.50 and stop loss 32.00.

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Johnson & Johnson: technical analysis 14.06.2024

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NPBFX offers the latest release of analytics on Johnson & Johnson for a better understanding of the current market situation and more efficient trading.

The shares of Johnson & Johnson, one of the leading retail holdings, are correcting at 145.00.

On the daily chart, the price failed to consolidate below the year’s low of 143.50 and is preparing to retest it, holding near the support line of the Expanding formation pattern with dynamic boundaries of 160.00–143.00.

On the four-hour chart, it is clear that the pattern will most likely work downwards, and the quotes, having broken the year’s low of 143.00, will head to 135.00. On the other hand, only four waves have formed within the formation, and a fifth one may develop, within which the asset will reach the pattern resistance level of 160.00.

Technical indicators strengthen the sell signal: the EMA oscillation range on the Alligator indicator is expanding downwards, and the AO histogram is forming correction bars below the transition level.

Trading tips

Short positions may be opened after the price declines and consolidates below 143.50, with the target at 138.00. Stop loss is 146.00. Implementation period: 7 days or more.

Long positions may be opened after the price grows and consolidates above 147.00, with the target at 154.00. Stop loss is 143.00.

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Tesla Inc.: technical analysis 19.06.2024

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NPBFX offers the latest release of analytics on Tesla Inc. for a better understanding of the current market situation and more efficient trading.

Shares of Tesla Inc., a leading manufacturer of electric cars, are trading at 185.00.

On the daily chart, the price is correcting within the ascending channel 231.00–178.00, trying to retreat from the support line.

On the four-hour chart, the quotes continue a smooth upward movement, preparing to break the mid-April high of 195.00. A consolidation above it allows them to reach the channel resistance line of 230.00. If it is held, the sideways movement will continue, and a decline to the low of last week at 167.00 is likely.

Technical indicators maintain a poor buy signal: fast EMA on the Alligator indicator are held above the signal line, and the AO histogram forms ascending bars in the buy zone.

Trading tips

Long positions may be opened after the price rises and consolidates above 191.20, with the target at 215.50. Stop loss — 183.00. Implementation period: 7 days or more.

Short positions may be opened after the price declines and consolidates below 179.50, with the target at 158.60. Stop loss — 187.00.

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AUD/USD: the quotes are trying to move away from the resistance line of the Expanding formation pattern 24.06.2024

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NPBFX offers the latest release of analytics on AUD/USD for a better understanding of the current market situation and more efficient trading.

Current trend

During the Asian session, the AUD/USD pair is trying to restore its position after last week’s decline, which did not allow it to consolidate at the highs of June 12, and is testing the 0.6640 mark.

Investors are assessing the results of the Reserve Bank of Australia (RBA) meeting on monetary policy. The officials kept the interest rate at a 12-year high (4.35%) for the fifth time amid insufficient rates of inflation slowdown. Thus, the Q1 consumer price index adjusted from 4.1% to 3.6% YoY and from 0.6% to 1.0% QoQ, with forecasts of 3.4% and 0.8%, respectively. The head of the regulator, Michelle Bullock, confirmed that the board was considering raising borrowing costs to help balance the market, as data pointed to continued excess demand in the economy, coupled with elevated domestic price pressures for both labor and non-labor. She said inflation remained resilient despite slowing significantly from 2022 but economists expected it to return to the 2.0%–3.0% target range by the end of 2025. Meanwhile, employment growth was 377.0K YoY, the unemployment rate was close to a 50-year low and its May movement was in line with analysts’ forecasts, suggesting that the RBA’s monetary policy had the expected dampening effect on the economy.

Macroeconomic statistics failed to support the Australian dollar. Thus, the June S&P Global manufacturing PMI fell from 49.7 points to 47.5 points compared to preliminary estimates of 50.6 points, the Commonwealth Bank service PMI from 52.5 points to 51.0 points, and the composite PMI from 52.1 points to 50.6 points. In turn, the US data adjusted market expectations regarding an imminent reduction in the US Fed interest rates. The June S&P Global manufacturing PMI increased from 51.3 points to 51.7 points, exceeding forecasts of 51.0 points, the service PMI fell from 54.8 points to 55.1 points compared to 53.7 points, and the composite PMI from 54.5 points to 54.6 points. In addition, the May existing home sales slowed the rate of decline from –1.9% to –0.7%.

Support and resistance

On the daily chart, the trading instrument is correcting, retreating from the resistance line of the Expanding formation pattern with dynamic boundaries of 0.6740–0.6320.

Technical indicators are slowing down the buy signal: fast EMA on the Alligator indicator, at any opportunity, approach the signal line, narrowing the range of fluctuations, and the AO histogram is still very close to the transition level.

Support levels: 0.6610, 0.6540.
Resistance levels: 0.6670, 0.6760.

Trading tips

Short positions may be opened after the price declines and consolidates below the support level of 0.6610, with the target at 0.6540. Stop loss – 0.6660. Implementation period: 7 days or more.

Long positions may be opened after the price rises and consolidates above 0.6670, with the target at 0.6760. Stop loss is 0.6620.

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EUR/USD: the euro is preparing to end the week with near-zero dynamics 28.06.2024

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NPBFX offers the latest release of analytics on EUR/USD for a better understanding of the current market situation and more efficient trading.

Current trend

The EUR/USD pair shows quite active decline, correcting after a rise the day before. The instrument is testing 1.0685 for a breakdown, while investors await the publication of June inflation statistics in France, Spain and Italy. Forecasts suggest a slowdown in the Consumer Price Index in France from 2.6% to 2.5%, and in Spain from 3.6% to 3.3%, while in Italy the figure could accelerate from 0.8% to 1.0%, significantly influencing future decisions of the European Central Bank (ECB). At the last meeting, the regulator cut the interest rate by 25 basis points, while the Bank of England and the US Federal Reserve are keeping borrowing costs at the same levels.

The day before, the single currency was slightly supported by May statistics on the dynamics of Private Loans in the eurozone, which reflected an increase in the indicator from 0.2% to 0.3%. Meanwhile, the Economic Sentiment index fell from 96.0 points to 95.9 points in June, contrary to expectations of 96.2 points, and the level of Consumer Confidence, as expected, remained at –14.0 points.

With the opening of the American session, the market's focus shifted to data from the United States: the Department of Commerce raised its estimate of Gross Domestic Product for the first quarter from 1.3% to 1.4%, and the dynamics of Nondefense Capital Goods Orders excluding Aircraft sharply fell 0.6% in May after rising 0.2% in the previous month.

Today, the focus of investors' attention will be on the key inflation indicator for the US Federal Reserve — the Personal Consumption Expenditures - Price Index. The Core rate is forecast to slow down from 2.8% to 2.6% YoY and from 0.2% to 0.1% MoM. Reducing inflation risks in the country may allow the regulator to implement plans to ease monetary policy: officials expect that the interest rate in 2024 may be reduced from 5.50% to 5.10%.

Support and resistance

In the D1 chart, Bollinger Bands are reversing horizontally. The price range is expanding from below, being spacious enough for the current activity level in the market. MACD is declining keeping a weak sell signal (located below the signal line) Stochastic shows similar dynamics, gradually approaching the level of "20" and signaling the risks of the single currency being oversold in the ultra-short term.

Resistance levels: 1.0700, 1.0730, 1.0765, 1.0800.
Support levels: 1.0665, 1.0630, 1.0600, 1.0561.

Trading tips

Short positions may be opened after a breakdown of 1.0665 with the target at 1.0600. Stop-loss — 1.0700. Implementation time: 1-2 days.

A rebound from 1.0665 as from support followed by a breakout of 1.0700 may become a signal for opening new long positions with the target at 1.0765. Stop-loss — 1.0665.

Use more opportunities of the NPBFX analytical portal: economic calendar

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XAU/USD: gold prices are consolidating in anticipation of new drivers 03.07.2024

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NPBFX offers the latest release of analytics on XAU/USD for a better understanding of the current market situation and more efficient trading.

Current trend

The XAU/USD pair is holding at the level of 2330.00. Investors’ activity is still low as the macroeconomic statistics coming to the market is mixed, and trading participants are reluctant to open new positions on the eve of the US Independence Day.

In particular, today at 14:15 (GMT+2), investors will be focused on the Automatic Data Processing (ADP) report on private sector employment: the indicator is expected to rise from 152.0 thousand to 160.0 thousand, which can support the US dollar locally. In turn, the Fed’s June meeting minutes are likely to be restrained as the day before, the Chair of the regulator Jerome Powell noted that the national economy is gradually returning to disinflation, and the authorities had succeeded in reaching significant progress in this issue. At the same time, Powell warned the markets about the excessive hopes for the speedy interest rate cut, having mentioned the importance of macroeconomic data monitoring for gaining additional confirmation of the price pressure weakening.

In turn, June data on the ISM Manufacturing PMI turned out to be weak: the indicator fell from 48.7 points to 48.5 points instead of the expected 49.2 points, which could be a driver for the US Fed to change the course of its monetary policy despite the fact that most of the officials retain cautious rhetoric. At the same time, forecasts for the Friday’s labor market report assume that in June American economy created 190.0 thousand new jobs outside the agricultural sector, which is significantly lower than 272.0 thousand, and the Average Hourly Earnings will slow down from 4.1% to 3.9% YoY and from 0.4% to 0.3% MoM.

Support and resistance

Bollinger Bands on the daily chart demonstrate flat dynamics: the price range is narrowing, reflecting the development of mixed dynamics in the short term. MACD is growing, retaining a weak buy signal and being located above the signal line and trying to consolidate above the zero level. Stochastic shows more confident growth but at the moment it is rapidly approaching its highs, signaling an overbought instrument in the ultra-short term.

Resistance levels: 2339.70, 2354.65, 2364.04, 2378.39.
Support levels: 2318.47, 2300.00, 2285.00, 2265.52.

Trading tips

Long positions can be opened after confident breakout of 2339.70 with the target at 2364.04. Stop-loss — 2325.00. Implementation time: 2-3 days.

The return of the “bearish” trend to the market with the breakdown of 2318.47 can become a signal to open new short positions with the target at 2285.00. Stop-loss — 2330.00.

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Hewlett-Packard Co.: technical analysis 08.07.2024

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NPBFX offers the latest release of analytics on Hewlett-Packard Co. for a better understanding of the current market situation and more efficient trading.

Shares of Hewlett-Packard Co., an American giant in the field of information technology, are moving in a corrective trend at 34.60.

On the daily chart, the price is correcting, trying to start working out the price gap of 34.50–32.60.

On the four-hour chart, the downtrend may receive support after the quotes consolidate below the end of the price gap at 34.50, with the target at the beginning of the gap at 32.60. In case of a reversal and breaking through the high of last week 35.30, the price may grow to the upper border of the Triangle pattern with boundaries 36.80–34.50.

Technical indicators gave a sell signal: fast EMA on the Alligator indicator crossed the signal line downwards, and the AO histogram forms downward bars below the transition level.

Trading tips

Short positions may be opened after the price declines and consolidates below 34.30, with the target at 32.60. Stop loss — 35.00. Implementation period: 7 days or more.

Long positions may be opened after the price grows and consolidates above 35.20, with the target at 37.10. Stop loss — 34.50.

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General Electric Co.: technical analysis 12.07.2024

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NPBFX offers the latest release of analytics on General Electric Co. for a better understanding of the current market situation and more efficient trading.

General Electric Co., an American diversified corporation, is trading within the framework of an intensifying correction at 161.00.

On the daily chart, the price is forming a Triangle pattern with narrowing boundaries of 165.00–158.00.

On the four-hour chart, the probability of completing the formation is very high since the quotes have long been in the pattern’s last third, and they can break one of the sides at any time. According to the pattern’s rules, an upward exit is more likely, and after a breakout of the resistance level of 165.00, the price may reach the year’s high of 180.00.

Technical indicators give a poor buy signal. Fast EMA on the Alligator indicator crossed the signal line upwards and are preparing to expand the range of fluctuations, and the AO histogram is forming correction bars near the transition level.

Trading tips

Long positions may be opened after the price rises and consolidates above 165.40, with the target at 179.00. Stop loss is 158.00. Implementation period: 7 days or more.

Short positions may be opened after the price falls and consolidates below 158.00, with the target at 148.00. Stop loss is 164.00.

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AUD/USD: Australian households expect mortgage rates to rise over the next 12 months 17.07.2024

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NPBFX offers the latest release of analytics on AUD/USD for a better understanding of the current market situation and more efficient trading.

Current trend

The AUD/USD pair consolidates around 0.6737 during the Asian session.

The Australian currency is gaining value as investors brace for further interest rate hikes following July data from Westpac Banking Corp. that recorded a decline in Consumer Sentiment to new lows: the indicator lost 1.1%, dropping to 82.7 points from 83.6 points previously. Westpac senior economist Matthew Hassan said the downward trend had been going on for two years, even though the government had made significant tax adjustments in an attempt to support low- and middle-income people, and concerns about persistent inflation and further interest rate rises are once again placing greater pressure on consumer sentiment, wiping out any positive momentum generated by financial support measures. Australia's Weighted Average Consumer Price Index corrected from 3.60% to 4.00% year on year, beating analysts' forecast of 3.80%, as more households expect mortgage rates to rise over the next 12 months, although in June the figure reached almost 60.0%. In addition, the recent 17.0% fall in Australian dairy exports was accompanied by a 19.0% increase in imports. These market changes are partly due to increased domestic production in China, supported by significant government investment that reduces the country's dependence on imported products. On Thursday at 3:30 (GMT+2), June labor market data will be published: Unemployment Rate is expected to increase from 4.0% to 4.1%, and Full Employment may slow down from 39.7 thousand to 20.0 thousand, confirming the stability of the sector even in the context of the tight monetary policy of the Reserve Bank of Australia (RBA).

The day before, investors paid attention to statistics on Retail Sales in the United States: their total volume in June was fixed at 0.3% with a forecast of –0.3%, while the figure excluding fuel and cars rose from 0.3% to 0.8% with preliminary estimates of 0.2%, confirming the existing risks of accelerating inflation, which may ultimately affect the position of the US Federal Reserve on easing monetary parameters in the near future. Earlier, the Chairman of the Fed, Jerome Powell, noted that financial authorities do not intend to wait for the CPI to reach the target 2.0% to begin adjusting borrowing costs.

Support and resistance

On the daily chart, the price was unable to overcome the resistance line of the local Expanding Formation pattern, which is located at 0.6800.

Technical indicators holding the buy signal began to actively slow it down: fast EMAs on the Alligator indicator are again approaching the signal line, narrowing the range of fluctuations, and the AO histogram decreases in the buy zone.

Support levels: 0.6715, 0.6628.
Resistance levels: 0.6760, 0.6850.

Trading tips

Short positions can be opened after the price consolidates below the support level of 0.6715 with the target of 0.6628. Stop-loss — 0.6750. Implementation time: 7 days and more.

Long positions can be opened when the price consolidates above the resistance level of 0.6760 with the target of 0.6850. Stop-loss — 0.6700.

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The Walt Disney Co.: technical analysis 22.07.2024

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NPBFX offers the latest release of analytics on The Walt Disney Co. for a better understanding of the current market situation and more efficient trading.

The shares of The Walt Disney Co., one of the leaders in the entertainment industry, are moving in a correction trend at 96.00.

On the daily chart, the price is moving away from the resistance line of the downward channel with dynamic boundaries of 97.00–92.00, trading just below the full Fibonacci correction of 61.8% at 95.60.

On the four-hour chart, the quotes can overcome the low of last week at 96.10. Then, the decline will move into the stage of a full-fledged trend since all correction levels are broken. A consolidation below the full Fibonacci correction of 61.8% at 95.60 will allow the price to reach 90.00. In case of a reversal and growth of the asset, a local ascending wave may form, with the target at the intermediate Fibonacci correction of 50.0% at 101.40.

Technical indicators are holding the sell signal: fast EMA on the Alligator indicator are below the signal line, and the AO histogram is forming correction bars in the sell zone.

Trading tips

Short positions may be opened after the price consolidates below 94.60, with the target at 88.40. Stop loss is 96.40. Implementation period: 7 days or more.

Long positions may be opened after the price consolidates above 96.10, with the target at 101.40. Stop loss is 94.00.

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Alcoa Corp.: technical analysis 26.07.2024

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NPBFX offers the latest release of analytics on Alcoa Corp. for a better understanding of the current market situation and more efficient trading.

Shares of Alcoa Corp., one of the largest aluminum producers, are correcting at 33.00.

On the daily chart, the price is retreating from the lower border of the ascending channel with dynamic boundaries of 46.00–39.00.

On the four-hour chart, the probability of a decline remains high. After a consolidation below the low of 34.00, the price may reach the full Fibonacci correction level of 61.8% at 27.80. However, after a reversal, growth, and consolidation above the intermediate Fibonacci correction level of 50.0% at 34.00, an increase to the low of June 18 36.70 may follow.

Technical indicators are holding the sell signal: the EMA oscillation range on the Alligator indicator is expanding downwards, and the AO histogram is forming downward bars in the sell zone.

Trading tips

Short positions may be opened after the price declines and consolidates below 31.31, with the target at 27.80. Stop loss is 33.00. Implementation period: 7 days or more.

Long positions may be opened after the price grows and consolidates above 34.00, with the target at 36.69. Stop loss is 33.00.

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