American Stock Exchange

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Cisco Systems - technical analysis​

The shares of Cisco Systems Inc., the largest manufacturer and supplier of network equipment for holdings and telecommunications companies, are correcting around 43. On the daily chart of the asset, the price is moving within a global downward channel with dynamic boundaries of 32–44, having reached the resistance line yesterday after an unsuccessful attempt to overcome the annual low of 41.

On the four-hour chart, the local movement within the channel is clamped into a Triangle pattern, the upper limit of which coincides with the global range resistance line at 44, which the quotes will try to break and reach the beginning of the price gap of May 18 around 47.8.

Technical indicators remain in the state of a sell signal, although indicator Alligator’s EMA oscillation range has begun to narrow, and the AO oscillator histogram is forming upward bars in the sell zone.​

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Nvidia technical analysis​

On the daily chart of the asset, a global downward channel is developing with dynamic boundaries of 130–230. Currently, the price has reached its support line, breaking the 100% underlying Fibonacci extension trend level at 160 and holding below. The 4-hour chart clearly shows that the downtrend could continue to the full 161.8% Fibonacci extension trend at 83. Before that, the trading instrument will need to break the year’s low of 140.

Technical indicators hold a sell signal: fast EMAs on the Alligator indicator are below the signal line, and the AO oscillator histogram is forming new bars with a downtrend.​

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MasterCard - Technical analysis

On the daily chart of the asset, a global sideways corridor of 306–380 is developing, within which the price has approached its lower border. There has not yet been a full-fledged attempt to consolidate below it but the likelihood of this remains quite high. The four-hour chart of the asset shows that if the quotes fix below the support level of 308, it is possible to continue to decline and reach an even stronger level of 280.

It is confirmed by the readings of technical indicators, which, working out a local correction, keep a stable sell signal: fast EMAs on the Alligator indicator are below the signal line, and the AO oscillator histogram forms new bars below the transition level.​

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Adobe Systems - technical analysis

On the daily chart of the asset, the formation of a downtrend continues, which may continue after the breakdown of the global year's low at 350. On a four-hour chart, the price forms a local Flag pattern with the boundaries of 360 – 400, which increases the likelihood of a global downward movement after the breakdown of its support line.

Technical indicators reflect a possible continuation of the global decline: indicator Alligator's EMA oscillation range expands downwards, and the histogram of the AO oscillator forms downward bars in the sell zone.​

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McDonald’s - The price can rise.​

On the daily chart, the development of the fifth wave of the higher level (5) continues, in which wave 3 of (5) is observed, the downward correction ended as the fourth wave 4 of (5) and the fifth wave 5 of (5) is developing. At the moment, the first wave of the lower level i of 5 has appeared, the correction as the second wave ii of 5 has completed, and wave iii of 5 is developing, in which wave (iii) of iii is being formed.

If the assumption is correct, the price will rise to the levels of 280–295. The level of 231.85 is critical and stop-loss for this scenario.

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Nasdaq 100 - US stock market corrects

The corporate segment of the stock market continues to publish financial statements for the second quarter. So, shares of Snap Inc., owner of the Snapchat messenger, became the leader of the fall yesterday, after the net loss per share increased to –0.26 dollars from –0.22 dollars in the previous period. Quarterly revenue also fell short of analysts' expectations, amounting to 1.1B dollars against the forecast of 1.14B dollars. Meanwhile, financial services firm American Express Co. released positive data with revenue of 13.4B dollars, well above its preliminary estimate of 12.5B dollars, while earnings per share of 2.57 dollars improved its forecast from 2.42 dollars.

The index quotes continue to form a global downward channel, rising towards the resistance line. Technical indicators are in a buy signal: fast EMAs on the Alligator indicator are holding above the signal line and expanding the range of fluctuations. At the same time, the AO oscillator histogram steadily rises in the buying zone.

Support levels: 11816, 11087 | Resistance levels: 12688, 13531​

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S&P 500 in anticipation of the publication of corporate reports

Today, several major players in the US market will present data on the results of the second quarter. Thus, the world leader in information technology, software, and IT services, Microsoft Corp., expects revenue growth at 52.43B dollars, higher than 49.36B dollars shown a quarter earlier. In turn, the Alphabet Inc. holding, which owns the Google brand, predicts a figure of 70.04B dollars against 68.01B dollars. Visa Inc. will record quarterly revenue in the region of 7.06B dollars, which is in line with the 7.19B dollars shown in the previous period.

The index quotes are traded within a global downward channel, heading towards the resistance line. Technical indicators keep a stable buy signal: fast EMAs on the Alligator indicator are above the signal line, and the AO oscillator histogram is in the buy zone, continuing to form rising bars.

Support levels: 3907, 3674 | Resistance levels: 4013, 4182
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Johnson & Johnson

On the daily chart, the price holds within the global ascending channel with dynamic boundaries of 170–190 and, reversed at the support line, is trying to consolidate within the uptrend.

On a four-hour chart, it is seen that the channel support line coincides with the multi-year level of 170, which the quotes of the trading instrument have already tested more than ten times. It indicates the presence of large volumes in the area, which makes the probability of crossing the line extremely low. The key resistance for the upward momentum is the June local high of 182, towards which the price is moving.

Technical indicators signal in favor of a likely continuation of growth: fast EMAs on the Alligator indicator began to approach the signal line, and the AO oscillator histogram is approaching the transition level, forming new rising bars.​

 

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The shares of Alcoa, an American steel company, are correcting around 50.

On the daily chart of the asset, the price left the global downwards channel with dynamic boundaries at 23 – 47, having broken the resistance line at 46 yesterday and consolidated in an uptrend. On a four-hour chart, it is seen that further global dynamics will most likely continue within an uptrend, and the May low at 53.7 is the key resistance, consolidation above which will allow the instrument to strengthen its positions.

Technical indicators reversed and gave a new buy signal: indicator Alligator's EMA oscillation range expands upwards, and the histogram of the AO oscillator has moved into the buy zone, continuing to form rising bars.​

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The shares of PayPal Holdings, an American debit payment processor, correct at 88.

On the daily chart of the asset, the price is moving above the resistance line of a wide downwards channel with dynamic boundaries of 50 – 80, holding at the local high of June 8 at 89. On the four-hour chart, it is seen that the probability of the continuation of the upward dynamics is quite high. If the breakout of the local high occurs soon, the quotes will head towards the annual peak around 122.

Technical indicators confirm the high probability of growth, keeping a stable buy signal: fast EMAs on the Alligator indicator remain above the signal line, and the AO oscillator histogram forms rising bars in the buying zone.
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Dow Jones - the US stock market continues upward correction

Popular booking service Booking Holdings Inc. reported 4.29 billion dollars in revenue, well above the 2.7 billion dollars reported a quarter earlier. Earnings per share were 19.08 dollars compared to 3.9 dollars in the previous quarter. In turn, the quotes of the pharmaceutical giant Moderna Inc. for the second day in a row are among the leaders of growth after the company managed to beat the projected income of 4.07 billion dollars, having shown 4.75 billion dollars. Alibaba Group Holdings Ltd., the global leader in online and mobile commerce, will publish its financial report today, which, according to preliminary forecasts, could show revenue of 204.44 billion dollars, which corresponds to the previous quarter's figure of 204.05 billion dollars.

The index quotes are traded within the wide descending channel, coming close to the resistance line. Technical indicators maintain a steady buy signal: the range of EMA fluctuations on the Alligator indicator expands in the direction of growth, and the histogram of the AO oscillator is forming new ascending bars in the purchase zone.
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Support levels: 32400, 30660 | Resistance levels: 33300, 35274

 

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S&P 500 - investors are confident in the "hawkish" mood of the US Fed

The US stock market is correcting, and its further dynamics will largely depend on today's speech by the head of the US Fed Jerome Powell at a symposium in Jackson Hole at 16:00 (GMT+2). Analysts expect the regulator to continue its "hawkish" rhetoric, but the pace of tightening of monetary parameters causes some controversy. The fact is that the national labor market showed positive results this week (the number of initial applications for unemployment benefits decreased to 243K from 245.0K a week earlier), and inflation in July reached 8.5% from 9.1%, which, in turn, may serve as a key factor for reducing the correction step of the indicator the interest rate is only 50 basis points, not 75 basis points, as previously expected.

In the corporate segment, the technology giant Apple on September 7 will hold a presentation of a new line of iPhone smartphones, as well as Apple Watch smart watches, which may return the interest of bidders in the issuer's shares, which has significantly decreased after the publication of negative financial statements.

The index quotes are trading above the resistance line of the descending channel, correcting downwards. Technical indicators hold a buy signal, which gradually weakens: fast EMAs on the alligator indicator are approaching the signal line, and the histogram of the AO oscillator, holding in the buy zone, forms descending bars.

Support levels: 4110, 3900 | Resistance levels: 4310, 4631
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The shares of PayPal, the American debit payment system, are correcting around 92.

On the daily chart, the price is above the resistance line of a wide downwards channel with dynamic boundaries at 55 – 85, however, a trend change is unlikely since an attempt to overcome the local high at the beginning of the month at 102 was unsuccessful.

On the four-hour chart, it is clearly seen that also to the rebound of quotes from the local high, the formation of the reversal Head and shoulders pattern with the Neck line at 90 has almost completed, which significantly increases the prospects for decline.

Technical indicators have weakened the buy signal: fast EMAs on the Alligator indicator are approaching the signal line, and the AO oscillator histogram is forming downward bars in the buying zone.​

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The shares of Bank of America, the largest financial conglomerate in the US, are moving within the corrective trend of around 34.

On the daily chart, the price has left the global downward channel with dynamic boundaries at 27 – 33 and is trying to stay within the corrective trend that began after overcoming the initial 23.6% Fibonacci correction at 34.7. On the four-hour chart, it is seen that the upward impulse has high prospects for implementation. However, they are relevant only after the quotes reconsolidation above 34.70.

Technical indicators keep a buy signal: indicator Alligator’s EMA oscillation range is directed upwards, although it is narrowing, and the histogram of the AO oscillator forms downward bars in the buying zone.
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The shares of Snap, the US company that owns the Snapchat messaging service, continue their long-term corrective trend and are currently trading in the 11 area.

A global downtrend is forming on the daily chart, but the price managed to overcome the resistance line at 11 and consolidate above it. On a four-hour chart, it is seen that after exiting the downwards channel, the key factor for a trend change will be the complete closing of the price gap from July 22 between 16 and 11, and then the movement can continue up to 21, coinciding with the beginning of the most significant price gap this year.

Technical indicators do not give clear signals: indicator Alligator’s EMA oscillation range is completely narrowed, and the AO oscillator histogram is close to the signal line.​

 

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The shares of Microsoft, a global giant in the development and sale of operating systems and software for computers, are trading in a corrective trend around 261.

On the daily chart, the price failed to consolidate within the uptrend and returned to the global downtrend with dynamic boundaries of 220 – 270, having broken the resistance line at 272. On the four-hour chart, it is clearly seen that the support line at 259.00 acts as a barrier to further decline, which is also the lower limit of the local rising channel, in which the price is held. The consolidation below it will open the way for quotes to the lows of the year around 241.

Technical indicators keep a sell signal: indicator Alligator’s EMA oscillation range expands downwards, and the histogram of the AO oscillator forms downwards bars in the sell zone.​

 

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Shares of Visa, America's largest multinational payment services company, are correcting at 198.

On the daily chart, a global Triangle pattern with dynamically narrowing boundaries at 185 – 217 is developing, and at the moment, the price is heading towards the support line. On the four-hour chart, it is seen that the even down wave has a high potential for implementation since the only serious obstacle in the form of support around 200 has already been overcome by now, and quotes have headed towards the support line around 185.

Technical indicators confirm a sell signal: indicator Alligator's EMA oscillation range is directed downwards, and the AO oscillator histogram forms downward bars.​

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Shares of The Walt Disney, the leader in the global entertainment industry, are on a corrective downtrend at 110.

On the daily chart, the quotes have left the global downwards channel with dynamic boundaries 80–108, having overcome the resistance line at 107 with a gap that can be worked out this week. On the four-hour chart, it can be seen that despite the working out of the price gap of 108–117, the downside movement potential is limited. The most promising at the moment looks like a possible reversal and subsequent growth of the asset with the consolidation above the initial correction level of 23.6% Fibonacci around 117.

Technical indicators hold a buy signal despite a significant slowdown: indicator Alligator’s EMA oscillation range actively narrows, and the histogram of the AO oscillator is forming bars with a downward trend in the buying zone.​

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Walmart​

Shares of Walmart, the US company that operates the world's largest wholesale and retail chain, are moving around 135.

On the daily chart, after reaching the support line at 130, the price reversed and began to correct, forming a local channel with boundaries of 130–145. On the 4-hour chart, the uptrend has a high chance of continuation as the underlying Fibonacci 38.2% retracement at 134.20 was easily overcome. The next resistance is an intermediate Fibonacci 50.0% correction at 139.3, which will become the target for local growth.

Technical indicators confirm the upward momentum: fast EMAs on the Alligator indicator are above the signal line, and the AO oscillator histogram has formed an upward bar in the buying zone.​

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Shares of eBay, an American online retailer, are trading at 44.​

On the daily chart, the price, having left the limits of the global downwards channel with dynamic boundaries 38 – 45, is kept above it, despite approaching the previously passed resistance level.

On the four-hour chart, it is seen that the attempt to enter a full-fledged correction failed, the initial Fibonacci 23.6% correction level at 50 was not broken, and the quotes received a downward impulse, directing them to the year's low at 40.40, which may be reached in the coming days. Technical indicators have reversed and are holding a stable sell signal: fast EMAs on the Alligator indicator are below the signal line, and the AO oscillator histogram forms downward bars in the sell zone.​

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