2021-09-29 • Updated
Tired of US stocks? Let’s discuss some UK and German stocks! Here is the analysis of 3 stocks that have caught our attention.
Glencore is an Anglo-Swiss commodity trading and mining company. This company is one of the largest winners from the increase in coal prices. China, the leading coal importer in the world, needs more coal supply. Bloomberg says that China is ready to pay any price. This situation frightens other countries that need coal too especially before winter. Based on that, coal prices will keep rising. Good for Glencore!
Now it’s trading at the highs of July 2018 at $350. If the stock manages to break above the $350-360 resistance zone (78.6% Fibonacci retracement level), the doors to the February highs of 2018 at $400 will be open. Support levels are the 61.8% Fibo level at $300 and the 50-month moving average at $280. *To have a better view, we have to open the monthly chart.
Lloyds is one of the UK's largest financial services companies. Financial firms and banks belong to cyclical stocks. You might have noticed that cyclicals rose at the start of this year amid the vaccine optimism. However, these days, investors are favoring high-quality stocks instead of cyclical ones due to the current Covid-19 uncertainty. Thus, we might expect Lloyds and other cyclicals to start rising again when the Covid-19 is taken under control. Besides, banks will gain from the rate hikes, that major global central banks are preparing to imply. Well, we’ve found two important reasons for Lloyds to rise in the mid-term, let’s look at the chart.
The stock of Lloyds has broken above the resistance line. This breakout showed a strength of the bullish momentum, so we can anticipate the stock to keep rallying up to the highs of mid-summer of $48 and then to the psychological mark of $50. Support levels are the 50- and 200-day moving averages of $45 and $43.
Puma is the third-largest sportswear manufacturer in the world. Puma has been included in the DAX stock index this September! DAX expanded to 40 companies from 30, and Puma has joined the prestigious list of the forty largest German companies. If we look at the chart, we would notice that Puma looks oversold as it gets closer to the 200-day moving average, which the stock should struggle to cross. If it jumps above the psychological mark of $100.00, it may jump to the 50-day moving average of $104.00. Support levels are $95.00 and $93.50.
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!
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