On Friday a significant round level of 5100 points on S&P 500 was tested. Buying should still be reasonably cautious due to the presence of triple divergence on the RSI indicator. Short-term consolidation is likely. The nearest support is around 5040 points, and a potential sentiment reversal point is located around 4950 points (recent low in the area of the 20-day moving average).
It seems reasonable that some consolidation must take place after many weeks of growth, which mostly was attributed to growth either of Magnificent 7 stocks, or chip producers (SOX index). Many large cap stocks have peaked at ATH, and historically after the index breaches ATH, there’s up to 5-10% correction.
It seems reasonable that some consolidation must take place after many weeks of growth, which mostly was attributed to growth either of Magnificent 7 stocks, or chip producers (SOX index). Many large cap stocks have peaked at ATH, and historically after the index breaches ATH, there’s up to 5-10% correction.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.