Market Technician

  Mastercard Inc (MA): Mark Up Could Continue US$526.60 The rally that led to the $531 resistance in October likely marked a buying climax, where significant demand pushed prices higher. This was followed by a consolidation, as selling pressure from short-term traders met sustained buying from investors. This behavior indicates potential reaccumulation process. Noticeable spikes in volume accompany upward moves in recent trading suggest weakening selling pressure and increase in demand. Technical indicator, stochastic turning with relative strength and Fund Flow Index trading above zero supports the notion that price continue its mark up from here. First Technical Target is at US$557.00, while Trailing stop is set below 48Days Simple Moving Average. Disclaimers apply

  Demand Supply Analysis The stock has been trending within an ascending channel, reflecting strong demand after breaking out of prior resistance. Recent bullish candles have been accompanied by increasing volume, confirming that buyers are in control. The breakout from the recent consolidation zone occurred on higher-than-average volume, which is a classic Wyckoff signal of strength (SOS). Price consolidated recently after earnings reporting. However, potential government spending on infrastructure could be potentially topline catalyst for the company. Technical Indicators Analysis Relative Strength against S&P 500:  CAT has shown relative strength against SPY (S&P 500), as indicated by the upward momentum in its price compared to the broader market. This strength highlights CAT's leadership within its sector. Stochastic Oscillator:  The stochastic oscillator reversal could present rebound from short-term pullbacks. Target Price and Risk Management First Target: ...

  Week Ahead, 25 Nov 2024 Macro News: All eyes were on Nvidia Corp this week as the company reported another set of record earnings. However, the revenue forecast fell short of analysts' expectations, causing the stock price to decline by -3.22% on Friday. Based on historical price action, the stock often experiences profit-taking or selling pressure after earnings announcements. Technically, as long as NVDA remains above the 150-day Simple Moving Average (SMA), the medium-term uptrend momentum persists. If NVDA trades below this level, we will reassess not only Nvidia Corp but also the overall medium-term trend of the AI theme. Medium Term: ·        S&P 500: The S&P 500 index is retesting the 6,000 level, with immediate support at the 5,800 level. ·        STI: The Straits Times Index (STI) has returned to the resistance zone at 3,730. No significant technical signals have been observed. If momentum contin...

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An analysis of Bitcoin CME Futures on a daily timeframe.  Relative Strength (aganist Gold) : The indicator is moving upward. This indicates the current uptrend has room to continue before potentially becoming overextended. Fund Flow Index : The is positive values indicate buying momentum, while the increasing bars suggest growing bullish momentum. Key Fibonacci Levels: 1.618 extension around $74,415 (acting as previous resistance). 2.618 extension at $78,290 (potential short-term resistance). A major target near $90,000, aligned with the 4.236 Fibonacci level. Price Target and Resistance Zone : A significant price target is set at $90,000, highlighted in green. This zone aligns with a 4.236% Fibonacci level and Range Projection. This could also act as a resistance if the price approaches it. Summary : The overall trend appears bullish with momentum indicators supporting an upward movement. Current breakout could lead to a test of the $90,000 level. However, if the price falls below...

  Week Ahead, 11 Nov 2024 Macro News: After the Chinese National People’s Congress concluded on Friday, markets again overestimated Beijing to boost the property sector and the economy. However, the key takeaway from the meeting was that the Chinese government is still taking calculated steps — or perhaps holding back resources in preparation for a potential President Trump 2.0. Either way, the market reaction was negative, with HSI futures down 1.57% at Friday’s close. Our view is to watch for signs of supply exhaustion as a potential entry point into the Chinese markets, as the government continues to support the economy, albeit at a slower-than-expected pace. On U.S. markets, our short-term bearish stance reversed after the U.S. election concluded. Indices recovered sharply as uncertainties were cleared, with the "Trump Trade" coming in play. Medium Term: • The S&P 500 is facing resistance at 6,000. The index has returned to an upward trend, but we remain cautious in t...

  NetLink NBN Trust (CJLU): Regaining Technical Momentum After Consolidation The technical momentum indicates that NetLink NBN Trust is transitioning from an Accumulation phase to a Markup phase, with targets set at S$0.94, 0.99, and 1.04 . Price action and volume suggest that strong hands are in control, absorbing supply and preparing for a potential bullish move. The stock's relative strength is above zero, implying that it is outperforming the market index (STI), which suggests increased demand. Additionally, the volume-based indicator, FFI, has made a similar upward move, indicating a potential increase in demand for the stock. For risk management, a stop below S$0.98 would invalidate this analysis. Disclaimers apply.

  Week Ahead, 4 Nov 2024 Macro News: - The US FOMC meeting is anticipated to result in a 25bps rate cut. - Funds shorting SGD, betting on slower global trade if Donald Trump wins the US Presidential Election. Thus, weaker global currencies and a stronger dollar. - China’s manufacturing PMI re-entered expansion territory in October. - Companies are ramping up efforts for Double 11 sales. - Nil trade set up for the week ahead. Medium Term: - S&P 500 is expected to move downward in the short term, with the first support level around the 5,600 zone. If the S&P 500 breaks above the 5,800 mark, the downward trend would be invalidated. The FFI has declined, and a sign of weakness was observed on 31/10/24. - STI is likely to trend lower, with initial support at the 3,480 level. Only if the index trades above the 3,650 level will the downward trend be considered invalid. - HSI remains at its first support level of 20,600, aligning with the 38.2% Fibonacci retracement. Long Term: - S...