Siegfried Back on an Important Level
Siegfried (SFZN SW) is currently retesting the July 2024 breakout level at 943.50, which was also the 2021 top. The stock has also entered a strong demand zone between 917-991. Keep an eye on the price action over the next few days for potential opportunities. Source: Bloomberg
Europeans own much less stocks than those in the US
Source: GD, Mike Zaccardi, CFA, CMT, MBA
McDonald's Reached First Key Level
McDonald's (MCD) has consolidated 12% since its October highs. It has just reached a key level, the 50% Fibonacci retracement at 280.715, as well as the imbalance zone between 277.87-281.72. Keep an eye on the price action at this level for potential opportunities. Source: Bloomberg
TotalEnergies Strong Demand
TotalEnergies (TTE FP) has consolidated more than 27% since its April 2024 highs. We’re seeing strong demand after a rebound from the major support zone between 50.55-52.95, with imbalance bullish candles indicating significant institutional buying. Source: Bloomberg
Bitcoin Head & Shoulders Pattern?
Bitcoin is showing signs of a strong reversal candlestick today (keep an eye on the close). A Head & Shoulders pattern is starting to form, though it's not confirmed yet. The recent close below 92,143 suggests some weakness, and the level to watch is the 91,306-92,14 zone. If this level breaks, fasten your seatbelt! Source: Bloomberg
Novo Nordisk Long-Term Bullish Trend Broken
Novo Nordisk (NVO) has seen its long-term bullish trend broken, with the stock losing 49% since its highs. It’s now trying to find support. On Friday, the stock rebounded from the major support zone between 504-535. The stock will likely be volatile in the coming days, so keep an eye on this support zone to see if it has found a low. Source: Bloomberg
Idexx Laboratories Rebounding Off Major Swing Support Zone
Idexx Laboratories (IDXX US) recently tested the swing support zone between 372-431 and is now rebounding off that level with increasing volume. Source: Bloomberg
Roche Back on Demand Level
After a 47% consolidation over 2 years, Roche (ROG SW) broke its downtrend in June and has seen a 35% rally since the lows, suggesting that the low is now in place. The market is now back in the demand zone between 238-251, and we’re observing strong price action. The next key resistance to watch is 293.55. Source: Bloomberg
