Nestlé: The End of a 2-Year Consolidation?
Nestlé (NESN SW) has consolidated 44% since January 2022! Recently, the stock rebounded off the 2003 bullish trend line and also from the demand zone between 73-77. Keep an eye on this potential turning point. Source: Bloomberg
Chainlink Reaching Discount Zone
Chainlink (XLIUSD) has consolidated 48% since its December highs. It has pulled back more than 50% on the Fibonacci retracement, confirming that it has reached the discount zone. Additionally, it has rebounded from the imbalance zone between 15.35-16.20. Keep an eye on the price action for potential opportunities. Source: Bloomberg
Uber on Major Support Zone
Uber (UBER US) is testing once again the major support zone between 54.84-65.25. The stock has consolidated 31% since October. Keep an eye on the price action for potential opportunities. Source: Bloomberg
Merck Back on Breakout Level !
Merck (MRK) is down 35% from its June highs and has just reached the 87.25 level, which represents the high of 2000. A retest of this major level is normal and necessary. However, we’re currently in a bit of a falling knives situation, so caution is required. Keep an eye on 87.25 and the demand zone between 71.50-77.75 for potential opportunities. Source: Bloomberg
Idexx Laboratories Rebounding Off Major Swing Support Zone?
Idexx Laboratories (IDXX US) has consolidated 32% since its last swing high in March 2024. For the past 14 weeks, the stock has been trading sideways. However, today, on earnings, it opened with a strong gap to the upside and has managed to stay above the major support level at 372.50. Keep an eye on the price action for potential further developments. Source: Bloomberg
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
