Latest news with #Fibonacci
Forbes
21 hours ago
- Business
- Forbes
Stick With The Major Trends
As the stock market was going through a series of sharp declines and market uncertainty, I always recommend that you out at longer-term data. In my analytical routine, I start each weekend by looking at the weekly charts before I even look at the daily charts. Often the weekly charts are weak enough so I will not even look at the daily charts. Each month I look at the monthly charts and technical studies to see if there are any changes from the prior month. This includes not only a change in the technical studies but also where there has been a move above or below a key level of support or resistance. In my experience using different methodologies to determine support or resistance you can often zone in on the most important levels. These methods include chart analysis, moving averages, Fibonacci analysis, starc bands, and pivot analysis. In past articles, I have pointed out that one of the lesser-used methods is pivot analysis. The results from yearly, quarterly, and monthly pivot analyses often identify support and resistance levels that are not easily identified by other methods of analysis. In basic pivot analysis, a stock, market average, or ETF is positive if it is trading above its pivot level. In a positive-trending market, the next level to watch is the first resistance level above the pivot or R1. Conversely, if a market is below its pivot then the focus should be on the first support level below the pivot or S1. In February I discussed yearly pivots and suggested that they be used to determine which ETFs might be the new leaders once the market correction was over. To monitor the trend I look for whether a market average or ETF has a weekly close above or below the yearly pivot. A close above indicates a positive trend but depending on the market outlook I may wait for the 2nd weekly close to confirm the signal. As of the end of February, four of the selected ETFs Technology Select (XLK), Consumer Discretionary (XLY), the Invesco QQQ Trust (QQQ) and iShares Russell 2000 (IWM) were above their yearly pivots. As the market declined in March their status changed. QQQ Weekly With Yearly Pivots Tom Aspray - This weekly chart of the Invesco QQQ Trust (QQQ) goes back to 2022 and has the yearly pivot (solid purple) as well as the lighter R1 and R2 above the pivot. The S1 and S2 are included below the pivot. In January 2023 QQQ rallied up to test the yearly pivot at $302.07 but did not close above it. On March 20th QQQ closed at $306.95 and well above the pivot. The R1 at $354.09 was reached in July which was derived from the yearly price ranges in 2022. Six weeks later QQQ dropped to a low of $281.01 and then closed at $301.05. The R1 at $354.07 was exceeded in July 2023 as QQQ had a high of$383.59. The correction ended in October 2023 and QQQ started 2024 by opening at $396.98 which was well above the 2024 pivot at $357.87. The July high was $501.26 which just fell short of the R2 at $510.90. The R2 was exceeded in December with a high of $537.48. On the first day of 2025 QQQ opened at $512.59 and then closed the week at $517.81 which was above the 2025 pivot at $487.57. Then on March 10th QQQ closed at $478.95 so the trend based on the yearly pivot analysis turned negative, point 2. QQQ surged two weeks later to a high of $493.62 but then closed back below the pivot. The eventual low of $402.39 was well below the S1 at $427.66. Then on April 28th QQQ closed at $488.83 so the yearly trend turned back to positive. This was confirmed the next week as QQQ had a high this past week of $519.38. On a move above the early 2025 high at $540.01, the R1 at $572.72 is the next target. ETFs & Yearly Pivots Tom Aspray - The current table has prices taken just before the close on May 30th as those ETFs highlighted in pink are still below their yearly pivots. The other ETFs are positive and will stay positive as long as they do not have a weekly close below their yearly pivots. In addition, I have included the current monthly and weekly DTS signals from the T&J Watchlists. The DTS was created by my colleague Jerry A, and their multiple time frame analysis is quite helpful. There were new monthly positive DTS signals for QQQ and XLK as the WKS is also positive. The monthly DTS are still negative for SPY, XLY, XLV, XOP, XLE, and XLB. This week there were new negative weekly DTS for XLV and XLE. For the market tracking ETFs, like SPY and QQQ, the positions I recommend are determined by my analysis of the advance/decline lines. NYSE Composite With A/D Lines Tom Aspray - TThe daily A/D lines had broken out to the upside by April 29 (see chart) as they had moved above their EMAs. The NYSE Composite was up 1.3% this week which is a solid gain amid more tariff distractions and earnings from the market-leading Nvidea (NVDA). It was lower Friday over China news but up 1.9% for the week. The NYSE dropped briefly below its yearly S1 before closing back above its yearly pivot on April 21st. The S&P 500 A/D line held above its weekly WMA during the market decline and one week after the close above the yearly pivot the A/D line overcame the resistance (line b) and then made an all-time high. This projected a new high for the S&P 500. Just two weeks later the NYSE All A/D line also made a new high as it started to lead the NYSE higher. This favors a move above the resistance at line a, with the next upside target at 20,903 and the R1. It is important to remember that the yearly pivot data stays the same for the entire year. If these ETFs should correct as we head into the summer the yearly pivots should act as support. New monthly pivots are in effect on Monday so on new positions use them as well as the S1 and R1 levels to manage your trades. If you want to learn more about yearly pivots this link may be helpful.
Yahoo
a day ago
- Business
- Yahoo
AVAX Price Prediction - What could affect AVAX's future price?
AVAX price prediction: AVAX faces mixed signals with bearish technicals offset by real-world adoption catalysts, suggesting volatile consolidation near $21.57 with a cautiously bullish mid-term outlook. - Real estate tokenization partnerships could drive institutional inflows. - Technical indicators show bearish momentum but key support holds. - Regulatory crackdowns on exchanges threaten liquidity $240B real estate tokenization with Bergen County/NJ municipalities creates tangible utility for AVAX as settlement currency FIFA subnet development (custom L1 blockchain) could onboard millions through sports NFTs/tickets by 2026 VanEck's Purposebuilt Fund launching June 2025 targets AVAX ecosystem projects, with $100M+ allocated to RWA verticals These initiatives position AVAX as a leader in institutional blockchain adoption – a key differentiator vs ETH/SOL's retail-heavy ecosystems. Critical support at $22.80 (362k wallets hold 21.65M AVAX) held through May's 9.98% price drop MACD divergence (-0.195 histogram) signals weakening momentum despite RSI 47.32 showing no oversold conditions Fibonacci retracement suggests $24.95 (23.6%) as immediate resistance – break could trigger rally to $26.75 swing high The 50-day SMA ($21.83) currently acts as dynamic support, but death cross risk persists with 200-day SMA at $29.40. Altcoin season index at 22/100 shows capital remains concentrated in BTC/ETH, limiting AVAX upside Thailand's exchange ban (effective June 28) removes 5 liquidity venues as AVAX volume surges 27% to $613M BlackRock's sBUIDL integration on Avalanche demonstrates institutional validation but exposes AVAX to traditional market correlations AVAX's price trajectory hinges on converting institutional partnerships into sustained on-chain activity while defending the $22 support zone. The MapleStory-driven transaction surge (+225% to 12.9M daily) shows retail engagement potential, but can Avalanche maintain developer momentum if BTC dominance climbs above 63%? AVAX price prediction remains mixed as Avalanche faces $25 resistance, with bullish technical setups clashing against bearish macro pressures, while institutional adoption—via VanEck's RWA fund and FIFA's blockchain partnership—adds long-term optimism. - Bullish drivers: VanEck's $100M RWA fund, FIFA subnet, +700% active users. - Bearish pressures: 9.5% price drop (24h), weak BTC dominance, low altcoin season index. - Key debate: Can AVAX sustain $22.8 support to retest $30? Traders are cautiously bullish on AVAX's technical setup but wary of broader market headwinds. The price fell 9.5% in 24 hours to $21.57 (May 30), erasing gains from its May 22 rally to $25.28. However, analysts note strong support at $22.8 (362k wallets holding 21.65M AVAX) and a bullish ascending triangle pattern targeting $30 if resistance breaks. Institutional adoption: VanEck's Purposebuilt fund (launching June 2025) targets Avalanche-based RWAs, while BlackRock's BUIDL treasury product uses AVAX for collateral. Gaming surge: MapleStory Universe drove 1.95M active addresses (May ATH) and 350K NFTs minted in 12 hours. DeFi innovation: XSY_fi's delta-neutral stablecoin UTY aims to reduce reliance on bridged assets, boosting AVAX-native liquidity. VanEck: Called Avalanche 'the institutional hub for RWAs' after launching its fund. Crypto Patel: Highlighted a multi-year breakout pattern with $282 long-term targets if AVAX holds $20. FIFA: Partnered to build a subnet for 250M+ gamers, signaling mainstream utility. AVAX's narrative balances institutional validation against shaky macro conditions, with $22.8 acting as a make-or-break level. Watch: Can FIFA's subnet and VanEck's fund offset Bitcoin's dominance (63%) to reignite altcoin momentum? To get the latest update on AVAX, visit our Avalanche currency page. Content created: 30th May 2025 Disclaimer: Content generated by CMC AI. CMC AI can make mistakes, please DYOR. Not financial advice. Sign in to access your portfolio
Yahoo
a day ago
- Business
- Yahoo
BNB Price Prediction - What could affect BNB's future price?
BNB price prediction indicates potential volatility influenced by ecosystem upgrades, ETF prospects, and supply factors, supporting a cautiously bullish mid-term outlook. - Auto-burn mechanism targeting 100M supply by 2028 - VanEck's BNB ETF filing pending SEC approval - Technical consolidation near key Fibonacci resistance ($669.61) Auto-Burn Mechanism: BNB's deflationary model aims to reduce total supply to 100M (from ~142M today) via quarterly burns. The latest burn destroyed 1.94M BNB (~$1.17B), tightening supply. Maxwell Hardfork: Testnet launch on May 26, 2025, reduces block time to 0.75s, improving transaction speed. Mainnet activation by June 30 could boost DeFi/gaming adoption. BNB Vault & Staking: 30% YoY growth in staking (6.2% yield) and new yield products like slisBNB incentivize holding, reducing liquid supply. ETF Momentum: VanEck's spot BNB ETF proposal (filed May 6, 2025) could mirror Bitcoin ETF inflows if approved. Standard Chartered predicts $2,775 by 2028, citing institutionalization. SEC Lawsuit Dismissal: The SEC dropped its 2023 case against Binance on May 29, 2025, removing a regulatory overhang. However, broader crypto policy shifts under Chair Paul Atkins remain a wildcard. BNB Chain Adoption: 5,600+ DApps and $3.6B TVL anchor utility, but rivals like Solana (28% DEX market share vs. BNB's 19%) threaten growth. Key Levels: Immediate resistance at $669.61 (23.6% Fibonacci retracement). A breakout could target $726 (127.2% extension), while failure risks a drop to $640 support. Momentum: MACD histogram (0.384) and RSI (55-59) signal neutral-bullish bias. However, declining Open Interest (-7.9% weekly) hints at cautious derivatives traders. BNB's price hinges on balancing deflationary tokenomics against competitive pressures and ETF regulatory outcomes. Watch for a decisive break above $670 or a breakdown below $640 to gauge trend direction. Could BNB's regulatory clarity post-SEC lawsuit give it an edge over ETH/SOL in the next altseason? BNB price prediction reflects a cautiously bullish mid-term outlook (30d +11%) amid mixed short-term sentiment, as traders focus on $687-$690 resistance and $640-$650 support. - Institutional interest grows via ETF filings and BNB Chain partnerships - Technical divide between breakout hopes ($700+) and bearish structure warnings ($630s) - Network activity surges (+13% addresses, +14% TXs) as meme/DeFi use cases expand Traders are split between:- Bulls citing VanEck's ETF filing, BNB Chain's 13.95M daily transactions, and the SEC lawsuit dismissal - Bears highlighting failed $690 tests (May 27) and whale short positions The Crypto Fear & Greed Index at 61 (Greed) suggests optimism, though down from 76 last week. Technical Levels:- $687-$690: Multi-week resistance where 4.2M BNB sits in ask orders- $640-$650: Critical support zone with 1.8M BNB bid liquidity Institutional Moves:- VanEck's ETF proposal (May 6) could unlock $2B+ inflows if approved- BNB Wallet's $5.9B daily volume shows retail adoption Regulatory Shift:- SEC dropping charges (May 29) removes legal overhang- Trump administration's crypto-friendly policies buoy sentiment Dovey Wan (Crypto Researcher): 'BNB Wallet's growth creates flywheel effect via staking demands' Standard Chartered: $2,775 price target by 2028 Binance CEO Richard Teng: 'Dismissed lawsuit validates our compliance path' BNB's trajectory hinges on ETF progress and holding $640-$650 amid macro uncertainty. With chain activity offsetting whale shorts and regulation improving, the mid-term setup favors accumulation. Will VanEck's ETF approval become the catalyst for a $700+ breakout? To get the latest update on BNB, visit our BNB currency page. Content created: 30th May 2025 Disclaimer: Content generated by CMC AI. CMC AI can make mistakes, please DYOR. Not financial advice. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Business Standard
3 days ago
- Business
- Business Standard
Can IFCI share price hit ₹100-mark in coming days? Trading strategy here
IFCI stock has zoomed almost 90 per cent in the last three weeks. The stock from levels of ₹39.24 on May 9 has rallied to a high of ₹74.50 on Thursday, May 29. The stock had hit a life-time high of ₹91.40 in July 2024, which at present is also the 52-week high. Whereas, the 52-week low of the stock stands at ₹35.67. Amid the present rally, the stock has conquered key moving averages across time-frames. IFCI stock is now seen trading above its long-term 200-Day Moving Average (200-DMA) on a consistent basis, after a gap of nearly 5 months. The rally in IFCI stock price has been backed by strong volumes, the average trading volume at the counter has more-than-doubled in the last five trading sessions. The company in a clarification to the exchange said the recent rally in IFCI share price was completely market driven. Meanwhile, IFCI showed improvement in the company's financials with a dip in Non-Performing Asset (NPA) levels, and not taking any new loans. READ MORE Against this background, can IFCI stock extend the rally and hit the ₹100-mark? Here's what the technical chart suggests. IFCI Current Price: ₹72 Upside Potential: 40.3% Support: ₹68.50; ₹63.10 Resistance: ₹77.20; ₹86.40; ₹93.85 Technical chart shows that IFCI stock has given a strong breakout on the daily chart, and is on the verge of confirming a breakout on the weekly scale too. A close above ₹55.40 this Friday, shall confirm the weekly breakout. For now, the near-term bias at the counter is likely to remain upbeat as long as the stock trades above ₹68.50 levels; below which notable support for the stock can be expected around ₹63.10 levels. CLICK HERE FOR THE CHART On the upside, IFCI stock can potentially surge to ₹88 levels in the near-term shows the monthly chart. The yearly Fibonacci chart indicates that the stock can potentially zoom to ₹101 levels. Key resistance for the stock this year are placed at ₹77.20, ₹86.40 and ₹93.85 levels.
Mint
4 days ago
- Business
- Mint
Top 3 stocks to buy today: Stock market expert Ankush Bajaj's picks for 28 May
Indian stock markets opened flat on Wednesday, 28 May, shrugging off strong cues from the US and other Asian markets. At open, the BSE Sensex slipped 94 points, or 0.12%, to 81,457.61, while the NSE Nifty 50 inched up 6.30 points, or 0.03%, to 24,832.50. Among sectoral indices, Nifty FMCG was the top laggard, falling 1.22% in early trade, followed by losses in metal, consumer durables and auto stocks. On the gainers' side, Nifty IT rose 0.5%, while PSU bank and realty indices added 0.3% each. Top 3 stocks to buy today, recommended by Ankush Bajaj: Buy: BHEL Ltd (current price: ₹260) Why it's recommended: On the daily chart, the stock has closed above ₹255 level, which was the 50% retracement of the recent high and low, indicating strength and potential for further upside. Additionally, on the lower time frames, the stock has given a triangle breakout, which confirms the bullish setup and suggests a potential rally in the stock. Key metrics: Resistance level: ₹273– ₹275 (short-term target zone) Support level: ₹255 (pattern invalidation level) Pattern: 50% Fibonacci retracement breakout on daily chart; Triangle breakout on lower time frame RSI: Bullish on both daily and lower time frames, confirming the breakout Technical analysis: The stock has broken out of two bullish patterns, showing strong price action and follow-through buying. The RSI adds further confirmation to the bullish structure. Sustaining above ₹260 increases the probability of reaching the target zone. Read this | BHEL rides thermal power revival—can it keep up with demand? Risk factors: Breakdown below ₹255 may invalidate the breakout. Broader market weakness or negative sentiment may impact performance. Buy at: ₹260 Target price: ₹273– ₹275 in 4–5 days Stop loss: ₹255 Buy: DIXON Ltd (current price: ₹15,090) Why it's recommended: After the recent bullish move, the stock witnessed some decline and is now trading at a crucial make-or-break level near ₹15,000. In the short term, the stock is forming a triangle pattern, and a breakout is expected above the ₹15,140 level. This breakout would confirm a bullish trend and indicate a potential rally in the stock. Key metrics: Resistance level: ₹15,440– ₹15,550 (short-term target zone) Support level: ₹14,900 (pattern invalidation level) Pattern: Triangle formation on short-term chart with potential breakout above ₹15,140 RSI: Neutral to bullish; poised to turn strong upon breakout confirmation Technical analysis: The stock is consolidating near a key level with decreasing volume, indicating a possible breakout setup. A move above ₹15,140 would validate the triangle breakout and signal renewed buying interest. Sustaining above ₹15,090 improves the chances of reaching the target zone. Read this | Dixon's resilience needs to be tested in the absence of PLI benefits for mobile phone manufacturing from FY27 Risk factors: Breakdown below ₹14,900 may invalidate the breakout. Market volatility or sector-specific weakness could impact the performance. Buy at: ₹15,090 Target price: ₹15,440– ₹15,550 in 4–5 days Stop loss: ₹14,900 Buy: ITC Ltd (current price: ₹433.90) Why it's recommended: On the daily chart, the stock is showing signs of reversal after a recent consolidation phase. It has taken strong support near ₹429 multiple times, forming a base. Currently, it is trading near a breakout level, and a move above ₹434 could trigger momentum. The setup suggests a short-term bullish move towards the target zone. Key metrics: Resistance level: ₹445– ₹448 (short-term target zone) Support level: ₹429 (pattern invalidation level) Pattern: Base formation with breakout potential on daily chart RSI: Trending upward, indicating improving momentum and potential strength Technical analysis: The stock has respected the ₹429 support zone and is now trading close to breakout territory. RSI and price action both hint at a positive move. Sustaining above ₹433.90 increases the probability of reaching the target zone. Read this | ITC expects consumption uptick on rains, rate cuts Risk factors: Breakdown below ₹429 may invalidate the bullish setup. Broader market weakness or sector-specific pressure could affect performance. Buy at: ₹433.90 Target price: ₹445– ₹448 in 4–5 days Stop loss: ₹429 Market wrap for Tuesday, 27 May Indian markets closed in the red on Tuesday, 27 May, after a choppy session marked by indecision and profit booking. The Nifty 50 briefly crossed the psychological 25,000 mark in early trade but failed to hold gains as selling pressure set in. The Nifty 50 ended 174.95 points, or 0.70%, lower at 24,826.20, while the BSE Sensex slipped 624.82 points, or 0.76%, to close at 81,551.63. The Bank Nifty also declined, falling 219.20 points, or 0.39%, to 55,352.80. Sectoral trends were mixed. PSU Bank led the gainers with a 0.26% rise, followed by the Realty index (up 0.24%) and Pharma (up 0.11%). Broader sentiment, however, remained subdued. Among the top performers, Jio Financial Services rose 3.43%, extending its recent uptrend. IndusInd Bank gained 2.57%, and Trent added 0.85% on stock-specific buying interest. Nifty technical analysis: Daily & hourly The Nifty opened at 24,956.65 and faced consistent selling pressure through the session, closing 0.70% lower at 24,826.20. The index hit an intraday high of 25,062.90 and a low of 24,704, ending below the previous day's low—a sign of short-term weakness. The inability to hold above 25,000 and the rejection near 25,100 confirm this zone as a key resistance level in the near term. On the daily chart, the Nifty continues to trade above its 20-day moving average (24,626) and 40-day exponential moving average (24,194), indicating the broader uptrend remains intact. However, momentum indicators suggest fatigue. The MACD has turned negative, while the RSI has slipped to 57 with a downward slope, pointing to weakening momentum. The hourly setup has turned negative, with the Nifty now trading below the 20-hour moving average (24,901) and marginally under the 40-hour exponential moving average (24,840). Both averages are flattening, and the hourly MACD has flashed a sell signal, reinforcing the intraday bearish tone. A close near the lower end of the day's range and below key hourly averages suggests further downside risk if 24,700 is breached. On the derivatives front, the highest open interest on the call side remains at the 25,000 strike—underscoring strong resistance—while the 24,500 put holds the maximum OI, indicating near-term support. The setup suggests a range-bound to mildly bearish bias unless the index reclaims and sustains above 25,000. Read this | Four fast-growing space stocks to add to your watchlist Given the current technical and derivative structure, 24,700 remains a key level to watch. A break below it could accelerate selling, while a rebound may help preserve the broader uptrend. Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441. Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
