Key US jobs data and Stocks in view this week - AVGO, FCX and more
Stocks to Watch
Broadcom Inc (AVGO US) $Broadcom (AVGO.US)$
Daily Chart -[BEARISH ↘ **]AVGO is holding below 166.65 resistance and in line with descending trendline resistance as well. A pullback below this resistance towards 149.10 support is expected. RSI indicator is toppish, approaching resistance where price pulled lower in the past.
Alternatively: A daily candlestick closing above 166.65 resistance will open a limited rise towards next resistance at 177.05.
Freeport-McMoRan Inc (FCX US) $Freeport-McMoRan (FCX.US)$
Daily Chart -[BULLISH ↗ **]FCX has reversed from its recent lows and is drifting higher. As long as price is holding above 43.00 support, a further push up towards 48.00 resistance is expected. Technical indicators are advocating for a bullish scenario as well.
Alternatively: A daily candlestick closing below 43.00 support will open a further drop towards next support at 41.05.
Mitsui Fudosan Co (8801 JP) $Mitsui Fudosan (8801.JP)$
Daily Chart -[BULLISH ↗ **]8801 JP while consolidating in a sideways range since June this year is drifting higher. As long as price is holding above 1510.50 support, a further push up towards 1635 resistance is expected. Technical indicators are advocating for a bullish scenario as well.
Alternatively: A daily candlestick close below 1510.50 support will open a drop towards next support at 1435.
Komatsu Ltd (6301 JP) $Komatsu (6301.JP)$
4 Hour Chart -[BEARISH ↘ **]6301 JP is holding below both long and short term MAs. As long as price is below near-term resistance at 4100, we expecting price to push lower towards 3858 support first, then 3600 next support. MACD is also within a bearish environment showing that there is more bearish momentum currently.
Alternatively: A 4 hour candlestick closing above 4100 resistance will open further rise towards next resistance at 4330.
Capitaland Ascendas REIT (A17U SP) $CapLand Ascendas REIT (A17U.SG)$
Daily Chart -[BULLISH ↗ **]A17U has been pushing higher since July this year. As long as price is holding above 2.81 support, a further push higher towards 3.00 resistance is expected. Technical indicators are advocating for a bullish scenario as well.
Alternatively: A daily candlestick close below 2.81 support will see price pull lower towards next support at 2.73.
Prepared by:
Moomoo Singapore
Isaac Lim CMT, CFTe
Chief Market Strategist
Chief Market Strategist
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