Ichimoku Watch: Nvidia in the Spotlight!
- Daily Analysis, Daily Report, Recent Posts, Technical Analysis, Trending Now
- May 21, 2024
Upcoming Earnings: NVIDIA Corporation (ticker: NVDA) is scheduled to report earnings after the market closes on 22 May. The consensus EPS estimate for the fiscal quarter ending April 2024 is $5.13. The reported EPS for the same quarter a year prior was $0.88. Nvidia Eyeing All-Time Highs Following on from a recent post, the mega-tech
READ MOREOverextended to the Downside in the Canadian Dollar Unsurprisingly, the CFTC COT positioning data shows that large speculators are heavily weighed on the short side of the Canadian dollar at the moment, which is at its highest since 2017 and resembles an overstretched market (reportable open interest is net short Canadian dollar futures by more
READ MOREQualcomm Incorporated (ticker: QCOM) continues to exhibit a clear uptrend. Last week, the stock reached a fresh record high of $196.08 and is now looking as if it will form a narrow bullish flag pattern ($196.08-$191.87). Another possible alternative is that price action may also remain within the flag’s boundaries until a retest of support
READ MORETechnicals Suggesting a Correction to Support for Copper The metals complex has been on fire; copper futures (COMEX) recently touched gloves with a fresh record high of $5.1990 per pound. This followed last week printing its largest one-week gain (+8.3%) since early February 2022. You may also note that the metal shook hands with a
READ MOREXJO WEEKLY Price structure: Consolidation Last week saw rejection below the 7910 level with a low close in the range. In the coming week,, the 7910 level will be the key observation for traders to gauge market strength. The underlying primary trend remains UP. Good technical support remains at 7632. This will be the level
READ MOREDell Technologies Inc. (ticker: DELL) jumped more than +11.0% higher on Wednesday, cementing a fresh record high for the stock at $150.28 and closing with a market cap of over US$100 billion. Behind the push higher was Morgan Stanley reiterating its buy rating on the stock, increasing its price target to $152.00, citing that this
READ MOREYour weekly outlook of technical patterns and structure. The FP Markets Research Team scans the financial markets for you, highlighting clear and actionable technical structures. Forex: Short-Term Resistance Calling for Attention on USD/JPY H1 Timeframe – Since topping at ¥156.77 on 14 May, short-term price action on the H1 chart for the USD/JPY has exhibited
READ MOREAccording to the Bureau of Labor Statistics (BLS), US CPI inflation came in as expected and exhibited a deceleration in consumer price inflation for both headline and core numbers year-on-year. We also saw a miss in US retail sales data – MoM: 0.0% versus 0.4% expected – which added to the dovish market reaction. Year
READ MOREAhead of today’s US CPI release, the US Dollar Index is hovering just north of major support coming in at 104.78, and is seen testing the grip of channel support, extended from the low of 105.21. These are important barriers to monitor. Inflation Expected to Slow A broad miss in the data today will likely
READ MOREUpcoming Earnings Release: NVIDIA Corporation (ticker: NVDA) is scheduled to report earnings on 22 May. The consensus EPS estimate for the fiscal quarter is $5.15. The reported EPS for the same quarter a year prior was $0.88. Bulls In Control From the Ichimoku Indicator, you will see that the Leading Span A crossed below Leading
READ MOREShort-term price action (H1) on the USD/JPY is currently worthy of the watchlist. The pair has ended in the green six times out of the last seven trading days, assuming today ends positively. We have also recently witnessed the unit break above resistance at ¥156.28 and retest this level as support and test the mettle
READ MOREUpcoming Earnings Release: Alibaba (ticker: BABA) is scheduled to report earnings today before the market opens. The consensus EPS estimate for the fiscal quarter ending March 2024 is $0.92. The reported EPS for the same quarter a year prior was $1.15. Bullish Breakout Suggests an Uptrend The first and probably most obvious observation on the
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