Starting the 1st week of July with a more cautious approach
Stocks to Watch
Daily Chart -[BEARISH ↘ **]Nike shaped a bearish wedge breakdown. We prefer to stay bearish for now, expecting price to do a pause below 81.20 resistance before shaping a fresh drop towards 64.00 support. Technical indicators are advocating for a bearish scenario.
Alternatively: A daily candlestick close above 81.20 resistance will open a recovery towards the next resistance at 93.50.
Daily Chart -[BEARISH ↘ **]MDLZ is currently within a down trend and in a similar configuration like Sept 2023. As long as price is holding below 68.00 resistance, a drop towards key support at 59.90 is expected. Technical indicators are advocating for a bearish scenario as well.
Alternatively: A daily candlestick close above 68.00 resistance will open further rise towards next resistance at 70.00.
Daily Chart -[BEARISH ↘ **]DXCM is currently within a down trend and has shaped a bearish breakdown of an expanding wedge pattern. As long as price is holding below 116.30 resistance, a further drop towards 97.00 support is expected. Technical indicators are advocating for a bearish scenario as well.
Alternatively: A daily candlestick close above 116.30 resistance will open further rise towards next resistance at 124.50.
Daily Chart -[BEARISH ↘ ***]ALGN is currently within a down trend. We prefer to stay bearish as long as price holds below 250.50 resistance, a further push down towards support at 212.70 is expected. Technical indicators are advocating for a bearish scenario as well.
Alternatively: A daily candlestick close above 250.50 resistance will invalidate bearish scenario and see a recovery towards 271.30 resistance next.
Weekly Chart -[BEARISH ↘ **]Keppel is currently within a down trend. We prefer to stay bearish as long as price holds below 6.55 resistance. A further push down towards 6.30 support is expected. Technical indicators are advocating for a bearish scenario as well.
Alternatively: A daily candlestick close above 6.55 resistance will invalidate bearish view and open a rise towards 6.72 resistance next.
Prepared by:
Moomoo Singapore
Isaac Lim CMT, CFTe
Chief Market Strategist
Chief Market Strategist
This report is provided for informational and general circulation purposes only and should not be construed as an offer, solicitation, or recommendation for the purchase or sale of securities, futures, or other investment products. It does not take into consideration any particular needs of any person. This advertisement has not been reviewed by the Monetary Authority of Singapore.
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Cui Nyonya Kueh : uncle @soyabean89 ... fyi .![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
soyabean89 Cui Nyonya Kueh : Nike still got room to drop?!![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
brutal
Trader’s Edge OP soyabean89 : The bearish momentum on the Weekly chart and the Daily chart does look very strong.. - Isaac
12moon : It is interesting to hear from Trader's Edge,but it is risky to follow blindly. Weekly view is too speculative
Cui Nyonya Kueh : "This report is provided for informational and general circulation purposes only and should not be construed as an offer, solicitation, or recommendation for the purchase or sale of securities, futures, or other investment products. It does not take into consideration any particular needs of any person. This advertisement has not been reviewed by the Monetary Authority of Singapore."![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")