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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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S&P 500: will the support at 3,800 hold?
Above you can see the chart of the S&P 500, and the Fibonacci Retracement of the index. There is a big support at 3,800, where the index already bounced in mid-May.
Now it looks we are ready to see a new test: if the support doesn’t hold up, next stop is at 3,500.
Apple: bottom or breakout?
Apple reacted quite good to January market sell-off, but then the stock surrendered to the bears. From a 180$ high, the share lost almost 25%, and now it is close to a critical support at 135$.
The sentiment look very bad right now, and it is very likely to see a bearish breakout.
Exxon: highest price since 2014
So far, Exxon has been one of the best stocks of the year: the price is at its highest since 2014. Will the stock go higher or this is the top? Looking at oil price, I would not bet against oil producers…
Intel: Bears are in control
Weakness for Intel stock seems not over. After a huge drawdown in the last 12 months, in May there has been the breakout of a big support. No signs of bottoming here…
Crypto disaster: even large players are falling strongly
Crypto are acting like a risky asset. When stocks go down, crypto go down too, even the largest ones. Look at Ethereum:
The second biggest crypto is 72% below its high.
If you look at Doge, the price fell 92% since Elon Musk called himself the “Dogefather”.
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Market Radar
Disclaimer: Market Radar is not an investment advisor. Any information provided as part of the services is impersonal and not specific to any person’s investment needs. You acknowledge and agree that no content published or otherwise provided as part of any service constitutes a personalized recommendation or advice regarding the suitability of, or advisability of investing in, purchasing or selling any particular investment, security, portfolio, commodity, transaction or investment strategy.