ONLINE FOREX BROKER
2021-09-29 • Updated
Tired of US stocks? Let’s discuss some UK and German stocks! Here is the analysis of 3 stocks that have caught our attention.
Glencore is an Anglo-Swiss commodity trading and mining company. This company is one of the largest winners from the increase in coal prices. China, the leading coal importer in the world, needs more coal supply. Bloomberg says that China is ready to pay any price. This situation frightens other countries that need coal too especially before winter. Based on that, coal prices will keep rising. Good for Glencore!
Now it’s trading at the highs of July 2018 at $350. If the stock manages to break above the $350-360 resistance zone (78.6% Fibonacci retracement level), the doors to the February highs of 2018 at $400 will be open. Support levels are the 61.8% Fibo level at $300 and the 50-month moving average at $280. *To have a better view, we have to open the monthly chart.
Lloyds is one of the UK's largest financial services companies. Financial firms and banks belong to cyclical stocks. You might have noticed that cyclicals rose at the start of this year amid the vaccine optimism. However, these days, investors are favoring high-quality stocks instead of cyclical ones due to the current Covid-19 uncertainty. Thus, we might expect Lloyds and other cyclicals to start rising again when the Covid-19 is taken under control. Besides, banks will gain from the rate hikes, that major global central banks are preparing to imply. Well, we’ve found two important reasons for Lloyds to rise in the mid-term, let’s look at the chart.
The stock of Lloyds has broken above the resistance line. This breakout showed a strength of the bullish momentum, so we can anticipate the stock to keep rallying up to the highs of mid-summer of $48 and then to the psychological mark of $50. Support levels are the 50- and 200-day moving averages of $45 and $43.
Puma is the third-largest sportswear manufacturer in the world. Puma has been included in the DAX stock index this September! DAX expanded to 40 companies from 30, and Puma has joined the prestigious list of the forty largest German companies. If we look at the chart, we would notice that Puma looks oversold as it gets closer to the 200-day moving average, which the stock should struggle to cross. If it jumps above the psychological mark of $100.00, it may jump to the 50-day moving average of $104.00. Support levels are $95.00 and $93.50.
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In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
In a call scheduled for January 25, 00:30 am GMT+2, the Tesla Inc. team will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
The Netflix stock (NFLX), with a market cap of $145.17B and a whooping 10 000+% rise since its inception 16 years ago, experienced some turbulence for a short period last year while trading around the $250 share price. However, the NFLX stock quickly recovered and rose to over $300 towards the end of the previous quarter of 2022.
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates?
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