The trend is your friend...
The Nasdaq 100 has closed above its 200-day moving average for 466 consecutive trading days, the 2nd longest uptrend in history. $NDX Source: Charlie Biello
Prosus Back on Key Level
Prosus (PRX NA) broke out of a major resistance level last September, posting a new high and reaffirming the bullish trend. The stock has consolidated 20% since the highs and is now testing the last demand zone before the breakout. Keep an eye on the price action for potential opportunities. Source: Bloomberg
Linde Price Action on Support Zone
Linde (LIN US) remains in a very bullish trend overall. The stock has seen a recent consolidation (-15%) from its all-time highs, but we’re now witnessing a strong rebound from the support level at 413. Source: Bloomberg
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
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
