LVMH Seems to Respect Support Zone
LVMH (MC FP) hasn't moved much on earnings today. The stock is still within the support zone of 647-695. This isn't a major swing support, so be careful. A rebound can happen, but the market may still test the last major swing support between 535-573. Source : Bloomberg
ASML Trying to Find Support
ASML is under pressure today, down 8% due to earnings. The next major support zone to keep an eye on is between 804-862. Source: Bloomberg
McDonald's Showing Bullish Momentum on Short Term
McDonald's (MCD US) has been in a support zone for 9 weeks! Last week, there was a false breakout below 245, but it managed to close above. On the short-term chart, there is growing bullish momentum. Keep an eye on it. Source: Bloomberg
Bitcoin at Major Support Zone
Bitcoin (XBTUSD) is now testing the major support zone between 56,500-58,000. This zone is critical because if it breaks, the consolidation that started in March could become more complex and volatile. It would open the door for a test of the next support level at 50,700-52,250 or even the 45,000 levels. But for the time being, keep an eye out for a rebound at this level. Source: Bloomberg
Diageo Reaching Major Support Zone
Diageo (DGE LN) is down 40% since January 2022! The long-term trend remains bullish. The stock is now reaching the 2020 major support zone between 2139-2427. Keep an eye on this level. Source: Bloomberg
CAC 40 Index Rebounds on Major Support
The CAC 40 Index rebounded on the major support zone between 7285-7480 after posting a double bottom. It’s still a bit early to say that the consolidation is over, so keep an eye out for a close above 7725. Source: Bloomberg
L'Oreal in a More Complex Consolidation Phase
L'Oreal remains in a bullish long-term trend! Unfortunately, it wasn't able to close above the 460 level and confirm a new swing. Therefore, the probability is growing for a break of minor support at 407.85 and a possible test of the major support zone between 372-390. Source: Bloomberg
Energy Sector Retracement After Breakout
The Energy sector (XLE US) broke out of an ascending triangle in March! This was good news for confirming the bullish trend. As with many breakouts, they are usually followed by a retracement. The market has just reached the 50% Fibonacci retracement. This is a very interesting level to keep an eye on. Source: Bloomberg
