Indices updates by Solidecn.com

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Stocks of Meta Platforms, which owns Facebook, the world's largest social network, continue to trade in a corrective trend and are around the 160 mark. At the end of last week, the results of almost a decade of the company's activity were finally summed up. The last thing that connected Meta Platforms Inc. with the previous name was its stock ticker FB, which has now also changed to META and is already used in trading on the Nasdaq exchange. It should be noted that the rebranding did not contribute to improving the financial situation of the company. Since the beginning of 2022, the shares have fallen by 51.4%, and there are no prerequisites for a trend change yet. Previously, the Ministry of Digital Information of the Russian Federation published statistics according to which Meta Platforms Inc. lost about 80% of its traffic on social networks Facebook and Instagram due to blocking in the country. Through dedicated VPN channels, services are now visited by only 10%-12% of the volume recorded before blocking.

As for the global state, the financial report for Q2 will be published in July, which may reflect revenue of 29.29B dollars and earnings per share of 2.63 dollars, which is even inferior to the 2.72 dollars shown in Q1.   

The price is trading in a global downtrend and on the eve set a new low of the year at around 160. Technical indicators continue to hold a stable sell signal: the fast EMAs of the alligator indicator are below the signal line, and the histogram of the AO oscillator, being in the sales zone, forms descending bars. 

Support levels: 155, 130 | Resistance levels: 175, 211

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DAX 30 - Murrey analysis
DAX 30 has been correction downwards over the past two weeks. During this time, the price moved into the negative zone of Murrey's trading range and reached the lower pivot level 13125 ([2/8]) but the quotes failed to consolidate below it. If successful, the decline will continue up to 12500 ([0/8]) and 12187.5 ([–1/8]).

In general, the downward trend in the market continues, which confirms the downward reversal of Bollinger bands and the increase in the MACD histogram in the negative zone. The expected exit of Stochastic from the oversold zone may signal the beginning of an upward correction to 13437.5 ([3/8]), 13750.0 but this is unlikely to lead to a reversal of the current trend, and the continued decline of the asset soon remains a more likely scenario.

Resistance levels: 13437, 13750 | Support levels: 13125, 12500, 12187
 

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Nasdaq 100 - Murray analysis
The Nasdaq 100 index continues to move within the long-term downward channel. This week, the price tried to start a corrective growth, having reversed around the level of 11250 ([2/8]), but in the end all the positions won were lost.

The reversal level of 11250.0 is still the key for the "bears". Its breakdown will give the prospect of further decline to the lower limit of the Murray trading range in the area of 10000 ([0/8]). When the level of 11875 ([3/8]) and the middle line of the Bollinger Bands break out (12090), quotes will be able to continue growing within the central Murray channel to the level of 13125 ([5/8]).

Technical indicators do not give a single signal: the Bollinger Bands are directed downwards, the MACD histogram is stable in the negative zone, the Stochastic is directed upwards.  

Resistance levels: 12090, 12500, 13125 | Support levels: 11250, 10625, 10000
 

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Nikkei 225 - technical analysis

H4
On the four-hour chart above the level of 26581.0, there is the formation of the Three Black Crows candlestick analysis pattern, which signals the continuation of the downtrend. Following the quotes, the successive Gravestone Doji patterns formed, which usually appear at the top and are a signal for a price reversal. In the current situation, it is likely that the asset will decline to the support level of 25796, overcoming which will allow the "bears" to reduce the price to the range of 24575–23596. An alternative scenario is possible in case of an impulsive movement of quotes above the resistance level of 26865.0. Then the "bulls" will be able to reverse the situation on the market and start an uptrend in the area of 28263 – 30008.

D1
On the daily chart, there is a Bear Flag price pattern, the construction of which started from the resistance at 28263; however, after reaching the support level of 25796, the "bulls" regained part of the lost positions, reaching the area of 26581.0. However, a warning signal for a price reversal is the formation of a Hanging Man candlestick analysis pattern, which indicates that buyers have lost control over the market. In this situation, most likely, the quotes will continue to decline to the level of 25796, the overcoming of which will serve as a signal for a further downtrend to the level of 23596.

Support levels: 25796, 24575, 23596 | Resistance levels: 26865, 28263, 30008

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DAX 30, H4

On the four-hour chart, there is a lateral movement of the asset within the boundaries of 12829–13323, and at the moment a Bearish Rectangle price pattern is being formed, the exit from which, most likely, can be carried out downwards, as well as a "bearish" Pattern Method of Three Falling, which signals about the continuation of the downtrend. Nevertheless, the growth of quotations is estimated as a probable scenario with a short-term correction to the resistance level of 13323, after which the instrument will resume its decline to the level of 12829. Breaking this level will mean that the Bearish Rectangle price pattern is entering its final stage and the downward movement will intensify into the support zone of 12533–11305. An alternative scenario can be implemented if the "bulls" fix their positions above 13323; then it will be possible to restore the price to the range of 14240–1512.

 

DAX 30, D1

On the daily chart, in the area of 13323, a Bearish Engulfing pattern is observed, which indicates that buyers could not hold their positions that day, falling to the level of 12829; however, immediately after it, a Bullish Engulfing pattern formed at the same level, which signals a price reversal at the bottom, although the buyers' attempt was unsuccessful and the model did not receive confirmation of the market's "bullish" mood. The signal for this was the formation of a "bearish" Shooting Star model under the resistance level of 13323. At the moment, the likely scenario is that the asset will fall to the support level of 12533, overcoming which will allow the "bulls" to head lower to the zone of 11947–11305.

 

 

Support levels: 12533, 11947, 11305 | Resistance levels: 13323, 14240, 15120

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Dow Jones - US market remains negative

The pressure on the US stock market continues: despite the positive reporting, large companies predict a future performance decline. For example, microchip manufacturer Micron Technology Inc. reported a 1.5x increase in net income for the current quarter, its revenue was 8.64B dollars, and earnings per share rose to 2.59 dollars from 2.14 dollars a quarter earlier, but the corporation does not expect the same strong results in next reporting period.

 

Another negative factor is the situation in the domestic bond market: according to yesterday's trading data, the yield of the leading securities began to rise again. So, at the end of last week, the rate on 10-year US Treasuries rose to 2.952% from 2.889%, while the indicator for global 20-year assets increased to 3.4332% from 3.3671% a few days earlier.

 

 

The index quotes move within a wide downward channel in the middle of the range. Technical indicators have significantly weakened the sell signal but still hold it: indicator Alligator's EMA oscillation range has narrowed almost completely, and the AO oscillator histogram is forming new downward bars in the sell zone.

 

Resistance levels: 31915, 33290 | Support levels: 29968, 28312

 

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FTSE 100 - UK stock market in correction

 

The UK stock market continues to decline on the background of extremely weak reports of the leading components, which do not allow risky assets to grow during the correction period. At the moment, quotes of the leading London Stock Exchange FTSE 100 index are showing local corrective dynamics, trading at around 7112. In the corporate segment, more and more companies show disappointing results. Supreme Plc. announced a decline in revenue and earnings in 2022 due to falling demand for products, after which the company's shares fell more than 12.7%.

 

 

The index quotes are trading within the global lateral channel, declining towards the support line. Technical indicators are in a quite steady sell signal state: the range of EMA fluctuations on the Alligator indicator is directed downwards and the AO oscillator histogram is trading in the sales area forming descending bars.

 

Support levels: 7011, 6760 | Resistance levels: 7200, 7480

 

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S&P 500 - waiting for US inflation statistics

The US stock market continues to decline, and yesterday's drop in indices was one of the most dynamic in recent times. First of all, investors' concerns are related to the growth of the consumer price index in the USA, data on which will be presented tomorrow. If the indicator exceeds 9.0%, an emergency increase in the interest rate by 100 basis points from the American financial regulator is not excluded, which could bring down stock markets at the moment, especially the high-tech sector, which traditionally depends on the cost of borrowing.

The index quotes are traded in a global descending channel, being in the middle of the range. Technical indicators continue to hold a stable sell signal: fast EMAs on the alligator indicator are below the signal line, and the histogram of the AO oscillator, holding in the sales zone, forms ascending bars.

Support levels: 3781, 3500 | Resistance levels: 3900, 4151

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MasterCard - Technical analysis

On the daily chart of the asset, a global sideways corridor of 306–380 is developing, within which the price has approached its lower border. There has not yet been a full-fledged attempt to consolidate below it but the likelihood of this remains quite high. The four-hour chart of the asset shows that if the quotes fix below the support level of 308, it is possible to continue to decline and reach an even stronger level of 280.

It is confirmed by the readings of technical indicators, which, working out a local correction, keep a stable sell signal: fast EMAs on the Alligator indicator are below the signal line, and the AO oscillator histogram forms new bars below the transition level.
 

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Adobe Systems - technical analysis

On the daily chart of the asset, the formation of a downtrend continues, which may continue after the breakdown of the global year's low at 350. On a four-hour chart, the price forms a local Flag pattern with the boundaries of 360 – 400, which increases the likelihood of a global downward movement after the breakdown of its support line.

Technical indicators reflect a possible continuation of the global decline: indicator Alligator's EMA oscillation range expands downwards, and the histogram of the AO oscillator forms downward bars in the sell zone.