L'Oréal Rebounding off Major Support
L'Oréal (OR FP) showed strong signs of a rebound last week with a Hammer candlestick pattern. The stock tested the major swing support zone between 300-328 and has seen a 31% consolidation since June! Source: Bloomberg
Chocoladefabriken Lindt & Spungli in a Massive Triangle for 32 Months
Chocoladefabriken Lindt & Spungli (LISP SW) has been in a long-term triangle pattern since March 2022. Currently, there are no signs of a breakout in either direction. The range is now 9880-11330, and the price is currently at the lower band. Keep an eye on the market for potential developments. Source: Bloomberg
Dax pullback finished ?
The DAX has experienced a pullback exceeding 4% since mid-October highs. Yesterday's Doji candlestick and liquidity grab suggest that the swing support at 18,911 may hold. Do you believe the pullback has concluded? Source: Bloomberg
Gold Reaching Support Levels
Gold has recently pulled back to the 50% retracement level and is approaching the imbalance zone between 2530-2547. The major swing support zone remains between 2280-2346, and it's important to note the discount zone between 2280-2533. Price Action: A rebound could happen at any moment as price approaches these key levels, so keep a close eye on the market for potential moves. Source: Bloomberg
Merck on Major Support Zone
Merck has undergone a 26% consolidation since its June highs and has now reached a major swing support zone between 99.14 - 105.37. This level will be crucial to watch for potential support. Source: Bloomberg
AstraZeneca on a Key Support Zone
AstraZeneca (AZN LN) has declined 25% since the end of September and is now reaching a key support zone between 9460-10360. Additionally, there is a major support zone at 9333-9655, marked by the March 2022 breakout level, which has seen multiple rebounds. These levels will be crucial to watch for potential support. Source: Bloomberg
Givaudan Back on Major Swing Support
Givaudan (GIVN SW) is down 13% since its high at the end of September. The trend remains bullish, and the stock is back on a major swing support zone between 4020-4130. This level is critical, as it also represents the breakout level from April 2022. Keep an eye on this important support! Source: Bloomberg
Bitcoin Breaking 1st Important Resistance
Bitcoin (XBTUSD) is breaking the 70,000 resistance level! This marks the first confirmation of the end of a 7-month consolidation phase. Next level to keep an eye on is 73,798. Source: Bloomberg
