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Welcome back to “Charts to Watch”!
It is time to be inspired by new charts. Maybe you will find some good ideas here.
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Nasdaq Composite: false breakout?
Nasdaq index is one of the biggest losers of the year: it is down almost 20% YTD. Now the tech index lies on a very interesting support. We already saw a first try to break it on the downside, but it probably was a false signal.
In case the index will go below the support 12,000 could be the next interesting level. In any case I see the current price more as a buy area. Of course everything will depend on what Powell will say today…
Amazon is out of the box, but in the wrong direction…
After one year of trading in a rectangle, finally Amazon made a breakout, but to the downside (after disappointing earnings and guidance). Not a great signal, and the stock will probably suffer for a while. Better to wait for a bottom before to jump in.
Paypal: is the bounce ready to happen?
After a 70% drawdown, Paypal could have bottomed…finally! Good earnings and a massive discount on multiples (compared to the history) could encourage investors to buy the stock again. The bounce may be big…
Nio: is the bottom here?
Here you can see another stock that has had a massive drawdown in 2022. Nio share declined from 70$ to 17$, and now it is on a very interesting support. This is a notable level, and it is worth to analyze the stock better, especially if you are a long term investor…
Dollar Index at a critical resistance
This is the year of the Dollar. The US currency has had a large appreciation so far, against almost every global currency (see below), and now it is at its decade highs again. Watch closely the currency here, because every consistent move could give you a long or short signal.
Remember to make your own analysis before to make any investment!
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Market Radar
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