Meta Platforms Inc.: technical analysis 30.09.2024

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

Shares of Meta Platforms Inc., an American multinational holding company owning a technology conglomerate and the largest Facebook social network, are trading at 567.00.

A correction trend is forming on the daily chart, within which the price is held in a wide ascending channel with dynamic boundaries of 576.00–470.00.

On the four-hour chart, the quotes reached the resistance line of 476.00. Despite the slowdown, a consolidation above the year’s high of 543.00 may follow.

Technical indicators maintain a buy signal: fast EMAs on the Alligator indicator are moving away from the signal line, and the AO histogram is forming correction bars in the buy zone.

Trading tips

Long positions may be opened after the price grows and consolidates above 576.00, with the target at 616.00. Stop loss — 568.00. Implementation period: 7 days or more.

Short positions may be opened after the price declines and consolidates below 554.00, with the target at 511.00. Stop loss — 565.00.

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Microsoft Corp.: technical analysis 04.10.2024

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

Shares of Microsoft Corp., a giant in the development and sale of operating systems and software for computers, are trading in a correction trend at 416.00.

On the daily chart, the price is moving in an ascending channel with dynamic boundaries of 450.00–415.00 near the support line.

On the four-hour chart, after a consolidation below the support line of 415.00, a decline to the low of April 29 at 389.00 may follow.

Technical indicators are forming a sell signal: the EMA fluctuation range on the Alligator indicator is preparing to begin expanding downwards, and the AO histogram is forming correction bars near the transition level.

Trading tips

Short positions may be opened after the price declines and consolidates below 408.50, with the target at 388.70. Stop loss — 413.00. Implementation period: 7 days or more.

Long positions may be opened after the price rises and consolidates above 424.00, with the target at 452.00. Stop loss — 416.00.

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eBay Inc.: technical analysis 09.10.2024

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

Shares of eBay Inc., an American online retail company, are correcting at 67.00.

An upward trend is forming on the daily chart, within which the price is trying to consolidate above the resistance line of the ascending channel 67.00–59.00.

On the four-hour chart, after consolidation above the resistance level of 68.00, the quotes will leave the long-term range and head to 75.00. However, if they return to the channel, a renewal of the September low of 60.00 and a decline to the support line of the channel 59.00 may follow.

Technical indicators are strengthening the buy signal: fast EMAs on the Alligator indicator are above the signal line, and the AO histogram is forming ascending bars in the buy zone.

Trading tips

Long positions may be opened after growth and consolidation above 68.10, with the target at 74.00 and stop loss 64.00. Implementation period: 7 days or more.

Short positions may be opened after the price consolidates below 65.40, with the target at 59.30. Stop loss is below 68.00.

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XAU/USD: gold prices are recovering 14.10.2024

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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 showing moderate growth, developing the "bullish" momentum formed once again at the end of last week, when the instrument managed to retreat from its local lows of September 20. Gold is testing 2660.00 for a breakout, receiving support from expectations of monetary easing by global financial regulators. In particular, on Thursday, October 17, the European Central Bank (ECB) is expected to cut the interest rate by 25 basis points. Investors are counting on another reduction in the indicator from the US Federal Reserve in November. At the same time, analysts have practically abandoned the idea of adjusting the rate immediately by –50 basis points against the backdrop of statements by the Chair of the Fed, Jerome Powell, as well as macroeconomic statistics on inflation published at the end of last week.

In September, the Consumer Price Index slowed down in annual terms from 2.5% to 2.4%, with a forecast of 2.3%, and in monthly terms it remained at 0.2%, while experts expected 0.1%. The Core CPI excluding Food and Energy adjusted from 3.2% to 3.3% year-on-year and added 0.3% month-on-month. In turn, the Producer Price Index in annual terms fell from 1.9% to 1.8% with expectations of 1.6%, and in monthly terms — from 0.2% to 0.0% with preliminary estimates of 0.1%, while the PPI excluding Food and Energy rose from 2.6% to 2.8% with a forecast of 2.7%. Separately, market participants drew attention to the decline in the Consumer Confidence index from the University of Michigan in October from 70.1 points to 68.9 points, while analysts expected the indicator to rise to 70.8 points.

Additionally, gold is supported by ongoing geopolitical risks, which are only intensifying as uncertainty around the US presidential election in November grows.

Support and resistance

Bollinger Bands on the daily chart demonstrate flat dynamics. The price range is almost constant, remaining rather spacious for the current level of activity on the market. MACD indicator reverses to growth while forming a new buy signal (the histogram is about to consolidate above the signal line). Stochastic, in turn, shows a sharp increase and is already located in close proximity to its highs, indicating the risks of the instrument being overbought in the ultra-short term.

Resistance levels: 2670.00, 2685.56, 2700.00, 2720.00.
Support levels: 2655.00, 2640.00, 2623.84, 2613.83.

Trading tips

Long positions can be opened after a breakout of 2670.00 with the target of 2700.00. Stop-loss — 2655.00. Implementation time: 1-2 days.

A rebound from 2670.00 as from resistance, followed by a breakdown of 2655.00 may become a signal for opening of new short positions with the target at 2623.84. Stop-loss — 2670.00.

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General Electric Co.: technical analysis 18.10.2024

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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, trades within the strengthening correction at 192.00.

On the daily chart, the price is forming an ascending channel with dynamic boundaries of 196.00–168.00.

On the four-hour chart, the quotes are moving towards the resistance line of 196.00 and may consolidate above the year’s high of 193.00 this week. However, if the asset consolidates below the high of 190.00 from September 25, the probability of a decline will increase.

Technical indicators are strengthening the buy signal: fast EMAs on the Alligator indicator are above the signal line, expanding the range, and the AO histogram is forming correction bars above the transition level.

Trading tips

Long positions may be opened after the price grows and consolidates above 196.00, with the target at 213.00. Stop loss — 192.00. Implementation period: 7 days or more.

Short positions may be opened after the price declines and consolidates below 189.00, with the target at 169.00. Stop loss — 194.00.

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Alcoa Corp.: technical analysis 23.10.2024

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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 42.00.

On the daily chart, the price retreats from the resistance line of the downward channel with dynamic boundaries of 34.00–26.00.

On the four-hour chart, the exit of the quotes from the channel 38.00–30.00 confirms a high probability of growth, and the asset approaches the year’s high of 46.00. After the consolidation above, an absolute high of 50.00 may be reached.

Technical indicators maintain a buy signal: the EMA fluctuation range on the Alligator indicator is expanding upward, and the AO histogram is forming ascending bars in the buy zone.

Trading tips

Long positions may be opened after the price grows and consolidates above 43.00, with the target at 49.50. Stop loss — 41.00. Implementation period: 7 days or more.

Short positions may be opened after the price declines and consolidates below 40.20, with the target at 34.00. Stop loss is 43.00.

Use more opportunities of the NPBFX analytical portal: weekly FOREX forecast

You can learn more about the current situation and get acquainted with the weekly analytical forecast in the "Video reviews" section on the NPBFX portal. Weekly video reviews contain trends, key levels, trading recommendations for such popular instruments as GBP/USD, EUR/USD, USD/CHF, AUD/USD. In order to get free and unlimited access to video forecast and other useful instruments on the portal, you need to register on the NPBFX website.

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AUD/USD: RBA posts 2.8 billion dollar loss this year 28.10.2024

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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 is showing a confident decline, developing a strong "bearish" momentum formed in the short term. The instrument is testing the level of 0.6585 for a breakdown, updating local lows from August 15.

The American currency is moderately supported by forecasts regarding a slowdown in the pace of monetary easing in the United States. Earlier, US Federal Reserve Chairman Jerome Powell warned markets against getting their expectations too high after cutting interest rates by 50 basis points in September, and against this backdrop, analysts revised their preliminary estimates for the November meeting. The Chicago Mercantile Exchange (CME Group) FedWatch Tool now shows an 85.0% chance of a –25-basis-point adjustment, with another –25-basis-point change possible in December. An additional factor of support for the American currency is the possible victory of Donald Trump in the presidential elections, which will take place on November 5. The Republican Party representative is expected to sharply tighten tariff policy, as well as to slow down the cost of borrowing cuts.

Australian inflation data is due out at 02:30 (GMT+2) on Wednesday, with markets expecting the consumer price index to slow in the third quarter from 3.8% to 2.9% year-on-year and from 1.0% to 0.3% quarter-on-quarter, putting significant pressure on the currency as it increases the potential for monetary easing by the Reserve Bank of Australia (RBA). Core inflation, which is calculated using the trimmed mean method, is likely to decline in the third quarter from 3.9% to 3.5% year-on-year and from 0.8% to 0.7% quarter-on-quarter.

Meanwhile, the regulator posted a fourth consecutive loss of 2.8 billion US dollars for the year ended June 30, as the yield on the RBA's holdings of bonds and other assets acquired during the COVID-19 pandemic lagged far behind the interest paid to commercial savers, putting pressure on its budget. The 2023-2024 deficit brings the total loss caused by the extraordinary stimulus measures to 51.2 billion dollars.

Support and resistance

Bollinger Bands on the daily chart show a steady decline. The price range is expanding, but at the moment it is not keeping up with the surge of "bearish" sentiment. MACD is going down preserving a moderate sell signal (located below the signal line). Stochastic maintains a similar downward direction, but is currently located near its lows, indicating the risks of oversold Australian dollar in the ultra-short term.

Resistance levels: 0.6600, 0.6622, 0.6650, 0.6675.
Support levels: 0.6568, 0.6540, 0.6500, 0.6456.

Trading tips

Short positions may be opened after a breakdown of 0.6568 with the target at 0.6500. Stop-loss — 0.6600. Implementation time: 1-2 days.

A rebound from 0.6568 as from support followed by a breakout of 0.6600 may become a signal for opening new long positions with the target at 0.6650. Stop-loss — 0.6568.

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McDonald’s Corp.: technical analysis 01.11.2024

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

Shares of McDonald’s Corp., the largest fast-food chain, are trading at 292.00.

On the daily chart, the price is moving away from the support line of the ascending channel 315.00–300.00, forming a full-fledged downward correction.

On the four-hour chart, the negative dynamics may continue since the exit from the range was with a price gap of 314.00–291.00, which may not be covered. In addition, the quotes have consolidated below the previous low of 292.00, and now there are almost no obstacles to a decline.

Technical indicators are strengthening the sell signal: fast EMAs on the Alligator indicator have crossed the signal line downwards, and the AO oscillator histogram is forming downward bars, approaching the transition level.

Trading tips

Short positions may be opened after the price declines and consolidates below 289.00, with the target at 277.00. Stop loss is 295.00. Implementation period: 7 days or more.

Long positions may be opened after the price grows and consolidates above 295.00, with the target at 305.00. Stop loss is 290.00.

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You can learn more about the current situation and get acquainted with the weekly analytical forecast in the "Video reviews" section on the NPBFX portal. Weekly video reviews contain trends, key levels, trading recommendations for such popular instruments as GBP/USD, EUR/USD, USD/CHF, AUD/USD. In order to get free and unlimited access to video forecast and other useful instruments on the portal, you need to register on the NPBFX website.

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Starbucks Corp.: technical analysis 06.11.2024

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

The shares of Starbucks Corp., owning the coffee shop chain of the same name and being one of the largest companies, are trading at 97.00.

On the daily chart, the price is correcting, and after the formation of the price gap of 90.90–77.00, a long-term sideways range is developing.

On the four-hour chart, the quotes are moving within the channel 99.00–90.00. Despite keeping the potential for continued growth, the asset still cannot break the resistance level of 99.00.

Technical indicators slow down the buy signal: fast EMA on the Alligator indicator narrows the range of fluctuations above the signal line, and the AO histogram forms correction bars in the buy zone.

Trading tips

Long positions may be opened after the price rises and consolidates above 99.00, with the target at 107.00. Stop loss is 95.00. Implementation period: 7 days or more.

Short positions may be opened after the price falls and consolidates below 94.30, with the target at 90.00. Stop loss is 96.00.

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You can read a Beginner's guide to FOREX Trading online or download it free of charge from the NPBFX analytical portal in the "Education" section. In order to get unlimited access to the E-book and other useful instruments on the portal, you need to register on the NPBFX website.

If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist.

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Adobe Inc.: technical analysis 11.11.2024

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

Shares of Adobe Inc., a leading American software developer, are trading in a correction trend at 494.00.

On the daily chart, the price is approaching the support line of a wide ascending channel with dynamic boundaries of 590.00–510.00 for its reverse testing.

On the four-hour chart, the quotes broke the low of October 7 at 485.00. A consolidation above the high of 510.00 will allow them to reach 540.00. However, a reversal and decline to the low of November 1 at 475.00 are not excluded.

Technical indicators are ready to give a buy signal: the EMA fluctuation range on the Alligator indicator is narrowing upward, and the AO histogram is forming ascending bars in the sell zone.

Trading tips

Long positions may be opened after the price rises and consolidates above 507.00, with the target at 537.00. Stop loss — 500.00. Implementation period: 7 days or more.

Short positions may be opened after the price falls and consolidates below 486.00, with the target at 452.00. Stop loss — 495.00.

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ExxonMobil Corp.: technical analysis 15.11.2024

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

Shares of ExxonMobil Corp., an American oil company, are trading in a correction trend at 120.00.

On the daily chart, the price could not leave the ascending channel 126.00–110.00 and is held below its resistance line.

On the four-hour chart, the quotes are above the resistance level of 119.00 and can renew the high of 126.00. However, after a breakdown of 119.00, the price may reach the support level of 110.00.

Technical indicators are in a buy state: fast EMAs on the Alligator indicator are held slightly above the signal line, and the AO histogram forms downward bars in the positive zone.

Trading tips

Long positions may be opened after the price grows and consolidates above 122.00, with the target at 126.00. Stop loss is around 120.00. Implementation period: 7 days or more.

Short positions may be opened after the price declines and consolidates below 119.00, with the target at 111.50. Stop loss — 122.00.

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You can learn more about the current situation and get acquainted with the weekly analytical forecast in the "Video reviews" section on the NPBFX portal. Weekly video reviews contain trends, key levels, trading recommendations for such popular instruments as GBP/USD, EUR/USD, USD/CHF, AUD/USD. In order to get free and unlimited access to video forecast and other useful instruments on the portal, you need to register on the NPBFX website.

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JPMorgan Chase & Co.: technical analysis 20.11.2024

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

Shares of JPMorgan Chase & Co., one of the largest transnational financial conglomerates in the United States, are moving within the corrective trend at 243.00.

On the daily chart, the price is above the resistance line of the ascending channel with dynamic boundaries of 240.00–210.00, preparing to continue growing.

On the four-hour chart, the quotes are trying to retreat from the channel resistance line without working out the price gap of 235.80–220.80, and after consolidation above the year’s high of 247.00, a continuation of the positive dynamics to the 270.00 region is likely. A decline is possible only in case of consolidation below the low of November 7 at 235.00.

Technical indicators maintain a buy signal: fast EMAs on the Alligator indicator are above the signal line, and the AO histogram forms correction bars in the positive zone.

Trading tips

Long positions may be opened after the price rises and consolidates above 247.00, with the target at 265.00. Stop loss — 240.00. Implementation period: 7 days or more.

Short positions may be opened after the price falls and consolidates below 236.00, with the target at 219.00. Stop loss – 240.00.

Use more opportunities of the NPBFX analytical portal: analytics

You can find more actual analytical reviews on other popular currency pairs, metals and CFDs on the NPBFX online portal. Daily analytics with charts, current market prognoses and trading scenarios in the Feed section are available. Get free and unlimited access to the online portal after registering on the official website of NPBFX Company.

If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist.

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