'Time has come (for rate cuts)' - Stocks We are Watching This week

Daily Chart -[BULLISH ↗ **] TXN shaped a bullish breakout above short term descending trendline. As long as price is holding above 198.18 support, a further push up towards 227.80 resistance is expected. Technical indicators are advocating for a bullish scenario as well.

Daily Chart -[BULLISH ↗ **] JNJ has been pushing higher since mid-May 2024. As long as price is holding above 160.85 support, we stay bullish, expecting price to push higher towards 169.35 resistance. Technical indicators are advocating for a bullish scenario as well with confirmation of a MA golden cross being formed.

Daily Chart -[BEARISH ↘ **] 6503 JP confirmed a double top reversal pattern and is reacting below the neckline at 2448.50. We stay bearish below this level, expecting price to drop further towards 2160 support and possibly even towards 2022 support. Technical indicators are advocating for a bearish scenario for now.

Daily Chart -[BEARISH ↘ **] 1109 HK broke below mid-term ascending trendline support to the downside. As long as price is holding below 23.15 resistance, a furtherpush lowertowards 20.60 support is expected. Technical indicators are advocating for a bearish scenario as well.

Daily Chart -[BULLISH ↗ **] H78 SP has shaped a strong bullish exit above a descending triangle configuration. As long as price is holding above near-term support at 3.49, a further push higher towards 3.84 resistance then 4.10 resistance is expected.

Prepared by:

Isaac Lim CMT, CFTe
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.