For the third time in a row, Apple reports a dip in sales as it releases its report for Q2 2023. The announcement led to a 7% drop in stock prices as more investors seemed to lose confidence in the stock’s performance.
Stock market: Pfizer has problems
2019-11-11 • Updated
SELL 41.20; TP1 40.70; TP2 40.35; SL 41.35
Pfizer continues the downtrend since the end of the last year. Last week the stock experienced a heavy selloff. This week it tried to recover but met the resistance of the 200-day MA at 42.00.
A double top pattern with the neckline in the 41.50 area can be seen on H1. It allows bears to pull the price to 40.70 and even 40.35 (March low). The longer-term target lies around 39.30 (January low). Only the advance above 42.00 will give bulls a chance to push the price to 42.85 (100-day MA).
It was an intense week across all the markets! We saw decent movements of major pairs, gas, stock indices, and oil prices. What should we trade this week? Time to check!
Are you searching for trade opportunities for December 6-10? Here you go!
The past several weeks have been a real triumph for the bulls in the oil market. The Brent spot price grew by 8.5% during the last month.
Gold prices are rising for three consecutive days ahead of the Federal Reserve (Fed) interest rate decision, which is expected to remain unchanged due to declining inflation and a positive economic outlook. Investors are keen on the Fed's interest rate guidance, fearing a hawkish stance that could trigger market risk aversion.
Amid concerns of a Chinese economic slowdown, reports of declining investment often overlook China's efficient investment strategy in emerging sectors for long-term growth. China has taken measures to stabilize foreign and private sector investments, like reducing the reserve requirement ratio to boost investor confidence.