Daily Review for April 26, 2021
Traders are aware on corporate results of large technology and industrial companies on Wall Street.
Today Tesla reports results. Analysts estimate EPS of 0.7428 and revenue of USD$10.42 billion.
During this week the FED will announce their decision on interest rates.
The OPEC+ will discuss the current supply levels and crude oil demand forecast.
In Europe, the market is watching the German LFO business confidence index.
BTC recovers the USD$50.000 zone.
| NASDAQ 100 -0.08% |
| As the week begins, traders have their sights set on the companies that report during this week. Among them are: Tesla, Microsoft, Alphabet, Visa, Starbucks, GE, 3M, Apple, Facebook, Boeing, Ford, Ebay, Amazon, Exxon Mobil, among others. Many of the big tech companies report results this week. Therefore, the Nasdaq 100 index can present interesting movements. It is currently down 0.08% and is trading at 13,915 points. |
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| Support 1: 13,907.41 Support 2: 13,900.83 Support 3: 13,887.66 Resistance 1: 13,927.16 Resistance 2: 13,940.33 Resistance 3: 13,946.91 Pivot Point: 13,920.58 |
| The index is at resistance 1. The price showed an important price rise during the Asian session. Possible sideway movement towards 13,926. RSI neutral. Pivot point at 13,920 and trading range between 13,887 and 13,946. |
| DOW JONES +0.12% |
| Treasury bond yields remain unchanged. As a result, equity indices such as the Dow Jones are gaining interest in investors’ portfolios. In addition to this week’s corporate results, traders are aware of the FED interest rate decision. The Dow Jones is currently trading at 33,980. So far, the average growth rate of the companies that have presented their results is 33%. Companies that are part of the index and that present results during the week are: Apple, Boeing and Microsoft. |
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| Support 1: 33,962.0 Support 2: 33,951.0 Support 3: 33,932.5 Resistance 1: 33,991.5 Resistance 2: 34,010.0 Resistance 3: 34,021.0 Pivot Point: 33,980.5 |
| Rising channel. Double top formation at 33.379. Price remains above the 25 and 15-day moving averages. RSI neutral. Bulls target is 34.300. Pivot point at 33.980. |
| CRUDE OIL -1.11% |
| Since last week, the price of crude oil has been declining due to the decrease in demand outlook. However, analysts believe the USA will help recover the market as the country is making rapid progress on vaccines and economic openness. That will create higher demand for gasoline and crude oil products. At this moment the price of crude is falling 1.11% and is trading at USD$61.43 per barrel. This week we will have an OPEC+ meeting. |
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| Support 1: 61.39 Support 2: 61.26 Support 3: 61.14 Resistance 1: 61.64 Resistance 2: 61.76 Resistance 3: 61.89 Pivot Point: 61.51 |
| Price is above the Ichimoku cloud. Crude oil is between support 1 and resistance 1. RSI neutral. Expected trading range between 61.14 and 61.89. Pivot point at 61.51. |
| DAX 30 +0.11% |
| European markets start the week mixed, with declines in the CAC and the MIB. DAX 30 is up 0.11%. The restrictions due to the pandemic are starting to ease. Gradual openings in Italy, France and Spain. The European Union started to use Janseen Vaccine. Menwhile Traders are aware of the German business confidence data. They are also aware of corporate results of US companies, which have high exposure in Europe. |
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| Support 1: 15,295.1 Support 2: 15,281.3 Support 3: 15,272.1 Resistance 1: 15,318.1 Resistance 2: 15,327.3 Resistance 3: 15,341.1 Pivot Point: 15,304.3 |
| The index is above resistance 1. Next level of interest is 15.352. If the momentum continues, the price could go up to 15.420. Pivot point at 15.304. RSI neutral. |
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