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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The S&P 500 had a good week due to the impressive start of Q1 earnings and favorable inflation data. In March, the consumer price index rose 5%, lower than the previous month's 6%, and met economists' expectations.
The previous year 2022, was undoubtedly tumultuous for the stock markets, with several stocks plummeting across multiple industries. Analysts have blamed the hard times on inflation, hawkish federal reserve policies, an impending global recession, and the ongoing crisis in Ukraine. This year, however, we're beginning to see some recovery in the stock markets. This article will find a few stocks worth buying this year.
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.
Let's dive into the latest developments shaping the global economic landscape. Good news first: the threat of an unprecedented US debt crisis has receded, as US lawmakers passed a bill to raise the debt ceiling and avoid a catastrophic default. Phew! But don't pop the champagne just yet, because storm clouds are still looming. High inflation, rising interest rates, and sluggish growth are challenges that have yet to disappear.
Thanks to the incredible advancements in horizontal drilling and fracking technology, the United States has experienced a mind-blowing shale revolution. They've become the heavyweight champion of crude oil production, leaving Saudi Arabia and Russia in the dust. They even turned the tables and became net exporters of refined petroleum products in 2011.
Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.
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