Latest news with #MACD
CNBC
4 hours ago
- Business
- CNBC
Walmart is set up well heading into earnings next week, says Katie Stockton
Walmart Inc. (WMT) added more than 5% last week, landing back on the radar of technical analysts as it filled its gap from February. The rally reflects not only positive short-term momentum, evident in the daily MACD, but also a positive intermediate-term momentum shift. The weekly MACD has a bullish crossover suggesting the rally may have staying power. WMT is regaining momentum relative to the S & P 500 Index (SPX) after having underperformed the broader equity market since the April low. The ratio of WMT to the SPX has reclaimed its 200-day moving average in a reversal of the short-term downtrend that began in April. This puts WMT in a better position to see a greater phase of outperformance in the short term. Walmart reports earnings on Aug. 21, so we would be mindful of key levels going into the print. Should final resistance near $105 be cleared, it would not only mark a resumption of the cyclical uptrend, but it would clear the way for upside follow-through to a short-term measured move projection of roughly $115. Major support for WMT is defined in part by the 200-day moving average and weekly cloud model, which converge near $94. WMT is in a strong secular uptrend with price above the rising monthly cloud model, which points higher looking out into 2027. The uptrend is poised to make another wave higher given the new bullish 'pop' higher in the monthly stochastics. However, the next leg higher is unlikely to be as impressive as the uptrend in 2024, since long-term upside momentum has dropped off meaningfully since the start of the year. This indicates WMT might be in the later stages of its cyclical uptrend, also noting price is stretched well above secular support from the monthly cloud. Overall, WMT's technical setup is favorable heading into next week's earnings print in both absolute terms and relative to the SPX. —Katie Stockton with Will Tamplin Access research from Fairlead Strategies for free here . DISCLOSURES: None. All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL'S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. Click here for the full disclaimer. Fairlead Strategies Disclaimer: This communication has been prepared by Fairlead Strategies LLC ("Fairlead Strategies") for informational purposes only. This material is for illustration and discussion purposes and not intended to be, nor construed as, financial, legal, tax or investment advice. You should consult appropriate advisors concerning such matters. This material presents information through the date indicated, reflecting the author's current expectations, and is subject to revision by the author, though the author is under no obligation to do so. This material may contain commentary on broad-based indices, market conditions, different types of securities, and cryptocurrencies, using the discipline of technical analysis, which evaluates the demand and supply based on market pricing. The views expressed herein are solely those of the author. This material should not be construed as a recommendation, or advice or an offer or solicitation with respect to the purchase or sale of any investment. The information is not intended to provide a basis on which you could make an investment decision on any particular security or its issuer. This document is intended for CNBC Pro subscribers only and is not for distribution to the general public. Certain information has been provided by and/or is based on third party sources and, although such information is believed to be reliable, no representation is made with respect to the accuracy, completeness, or timeliness of such information. This information may be subject to change without notice. Fairlead Strategies undertakes no obligation to maintain or update this material based on subsequent information and events or to provide you with any additional or supplemental information or any update to or correction of the information contained herein. Fairlead Strategies, its officers, employees, affiliates and partners shall not be liable to any person in any way whatsoever for any losses, costs, or claims for your reliance on this material. Nothing herein is, or shall be relied on as, a promise or representation as to future performance. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. Opinions expressed in this material may differ or be contrary to opinions expressed, or actions taken, by Fairlead Strategies or its affiliates, or their respective officers, directors, or employees. In addition, any opinions and assumptions expressed herein are made as of the date of this communication and are subject to change and/or withdrawal without notice. Fairlead Strategies or its affiliates may have positions in financial instruments mentioned, may have acquired such positions at prices no longer available, and may have interests different from or adverse to your interests or inconsistent with the advice herein. Any investments made are made under the same terms as nonaffiliated investors and do not constitute a controlling interest. No liability is accepted by Fairlead Strategies, its officers, employees, affiliates, or partners for any losses that may arise from any use of the information contained herein. Any financial instruments mentioned herein are speculative in nature and may involve risk to principal and interest. Any prices or levels shown are either historical or purely indicative. This material does not take into account the particular investment objectives or financial circumstances, objectives or needs of any specific investor, and are not intended as recommendations of particular securities, investment products, or other financial products or strategies to particular clients. Securities, investment products, other financial products or strategies discussed herein may not be suitable for all investors. The recipient of this information must make its own independent decisions regarding any securities, investment products or other financial products mentioned herein. The material should not be provided to any person in a jurisdiction where its provision or use would be contrary to local laws, rules, or regulations. This material is not to be reproduced or redistributed absent the written consent of Fairlead Strategies.
Yahoo
7 hours ago
- Business
- Yahoo
Traders Sold the Rumor. Is It Time to Buy the Facts with Soybean Meal Here?
December soybean meal futures (ZMZ25) present a buying opportunity on more price strength. See on the daily bar chart for December soybean meal futures that prices have rallied to a five-week high. See, too, at the bottom of the chart that the moving average convergence divergence indicator is in a bullish mode, as the red MACD line is above the blue trigger line, and both lines are trending up. More News from Barchart What Game Is Being Played in Grains Early Monday Morning? Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! Fundamentally, it appears the U.S. and China may be getting closer to a trade deal. Also, last week's price action saw traders likely factor into soybean (ZSX25) and meal futures prices a bumper U.S. soybean crop, to suggest a potential 'sell the rumor, buy the fact' scenario after Tuesday's midday USDA monthly supply and demand report. A move in December meal futures above chart resistance at Monday's high of $291.70 would give the bulls more power and it would also become a buying opportunity. The upside price objective would be $315.00 or above. Technical support, for which to place a protective sell stop just below, is located at $280.00. IMPORTANT NOTE: I am not a futures broker and do not manage any trading accounts other than my own personal account. It is my goal to point out to you potential trading opportunities. However, it is up to you to: (1) decide when and if you want to initiate any trades and (2) determine the size of any trades you may initiate. Any trades I discuss are hypothetical in nature. Here is what the Commodity Futures Trading Commission (CFTC) has said about futures trading (and I agree 100%): Trading commodity futures and options is not for everyone. IT IS A VOLATILE, COMPLEX AND RISKY BUSINESS. Before you invest any money in futures or options contracts, you should consider your financial experience, goals and financial resources, and know how much you can afford to lose above and beyond your initial payment to a broker. You should understand commodity futures and options contracts and your obligations in entering into those contracts. You should understand your exposure to risk and other aspects of trading by thoroughly reviewing the risk disclosure documents your broker is required to give you. On the date of publication, Jim Wyckoff did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on 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
Economic Times
17 hours ago
- Business
- Economic Times
Nifty could see short covering on direct rise above 24,433: Anand James
Nifty experienced a sixth consecutive negative weekly fall, but a potential pullback is anticipated early in the week due to recovery signals after lower Bollinger Band penetrations. While broader markets struggle, PSU Banks show mixed signals with potential support from key stocks like SBI. MAHLOG and CMSINFO are top picks, indicating reversal attempts with bullish patterns and oversold conditions. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Since the turn lower from June, all penetrations of lower bollinger band were followed by a recovery candle on the next day, which boosts the hope for a pullback move early in the week, says Anand James , Chief Market Strategist, Geojit Investments Limited Edited excerpts from a chat:Since the turn lower from June, all penetrations of lower bollinger band were followed by a recovery candle on the next day. This boosts the hope for a pull back move early in the week, as last Friday saw a close below the lower bollinger band. That said, the 200 day SMA, now positioned at 24049 is clearly pulling Nifty, with 23722 offering fibo support below. Alternatively, direct rise above 24433 could spark short covering After a fortnight of selling, the Nifty PSU Bank index witnessed a pullback this week from a horizontal support zone that has held since June. However, the last trading day of the week formed a doji candle, casting a doubt on the reversal's strength. On the weekly chart, the technical setup has not turned bullish yet, with the MACD still vulnerable to a bearish signal crossover. From a derivatives perspective, 85% of F&O stocks saw short additions on Friday. However, on a weekly basis, 71% of these stocks still hold long positions, indicating mixed sentiment. From a stock-specific angle, SBIN, PNB, Union Bank, and Indian Bank—which together constitute around 63% of the index—have shown early signs of a reversal. Notably, SBI formed a pinbar doji on Friday, adding weight to a reversal narrative. We see the Nifty PSU Bank index opening on a weak note next week, but support for reversal attempts may be expected from SBI, PNB, Union Bank, and Indian 46% of Nifty 50 constituents had a positive weekly close, only about 30% of Nifty 500 stocks did the same. So, yes, broader marker struggling when compared to the benchmark index, with small caps leading the declines, as only 24% of the small cap index had a positive weekly close. This shows that the traders are largely risk averse. This is also reflected in the number of stocks closing below pervious week's lows. While 55% of small cap indices did so, only 36% of Nifty 50 constituents did so. As Nifty 50 approaches it 200 day SMA, 46% of its constituents are already below this key MA, while 58% of the small cap constituents have already sunk before their respective 200 day SMA. This is not an extreme yet, which suggests some more pain before a reversal is us your top picks for the (CMP: 322)View: BuyTarget: 348SL: 299The stock has been declining since July and now appears to be attempting a pullback. On Thursday, it formed a bullish engulfing candle, followed by another green candle, indicating a potential reversal. Additionally, the MACD histogram is showing signs of exhaustion at lower levels, and a hammer candle on the weekly chart adds further weight to the reversal narrative. We expect the stock to move towards 348 in the near term. All long positions should be protected with a stop-loss placed below the 299 (CMP: 444)View: BuyTarget: 475SL: 430The stock has been in a pullback phase since July and now appears to be attempting a reversal. It formed a bullish engulfing candle pattern on Thursday, signaling early signs of a potential turnaround. Additionally, the 14-day RSI is below 30, indicating an oversold condition, while the MACD histogram is showing signs of exhaustion at lower levels, both supporting the reversal attempt. We expect the stock to move towards 475 in the near term. All long positions should be protected with a stop-loss placed below the 430 level.
Mint
a day ago
- Business
- Mint
Top stock picks for 11 August—recommendations from leading market experts
The Nifty 50 closed sharply lower on Friday, declining 232.85 points (0.95%) to settle at 24,363.30, tracking broad-based selling across sectors. BSE Sensex mirrored the weakness, shedding 765.47 points to close at 79,857.79. Sectorally, all indices ended in the red, with metals, realty, pharma, auto, private banks, and consumer durables losing 1-2%, signalling pervasive bearish sentiment. Broader markets underperformed, with the BSE Midcap and Smallcap indices falling 1.5% and 1%, respectively. On to the best stock picks for 11 August, recommended by India's leading market experts. Two stock recommendations by MarketSmith India Best phosphate industry stocks to buy, recommended by NeoTrader's Raja Venkatraman MBAPL: Buy above ₹422 and on dips near ₹405 | Stop below ₹398 for a rise towards ₹470-490 KHAICHEM: Buy above ₹105 and dips to ₹99 | Stop: ₹97 | Target: ₹113-116 PARADEEP: Buy CMP and dips to ₹211 | Stop: ₹205 | Target: ₹250-260 Top three stock picks by Ankush Bajaj for 11 August Why it's recommended: Sarda Energy and Minerals' daily RSI is 65, indicating steady bullish momentum. MACD is positive at 26, and ADX at 28 reflects a strengthening trend. After making a new lifetime high, the stock witnessed some profit booking and is now trading at a recent major demand zone. This zone is expected to act as strong support, potentially triggering a rebound from current levels. Key metrics: Demand zone trading near major demand support after lifetime high Pattern: Pullback to support within ongoing uptrend MACD: Positive at 26 RSI: Daily RSI at 65 shows bullish bias ADX: At 28, indicating trend strength Technical analysis: Demand zone support suggests a bounce towards ₹610 Risk factors: A close below ₹498 would weaken the support and warrant caution Buy at: ₹534.95 Target price: ₹610 Stop loss: ₹498 Why it's recommended: Global Health Ltd's daily RSI is 71, showing strong bullish strength. MACD is at 31, and ADX at 35 confirms a robust trending phase. On the daily chart, the stock has broken out of a triangle pattern — a continuation setup often leading to further upside. The breakout is supported by strong momentum indicators, making the stock poised for a move towards ₹1,540. Key metrics: Breakout zone: Triangle breakout confirmed Pattern: Continuation pattern indicating trend resumption MACD: Positive at 31 RSI: Daily RSI at 71, reflecting strong buying pressure ADX: At 35, confirming trend strength Technical analysis: Breakout suggests further upside towards ₹1,540 Risk factors: A close below ₹1,362 would invalidate the breakout Buy at: ₹1,423.20 Target price: ₹1,540 Stop loss: ₹1,362 Why it's recommended: Cummins India shows strong momentum with a daily RSI at 76, MACD at 71, and ADX at 31, all confirming bullish dominance. The stochastic oscillator has also given a strong breakout above the ₹3,700 level, turning that zone into a crucial support. Sustaining above this breakout point keeps the bias positive, with potential for an upward move towards ₹3,955. Key metrics: Breakout zone: Stochastic breakout above ₹3,700 Pattern: Momentum continuation MACD: Strong positive at 71 RSI: Daily RSI at 76, reflecting overbought, but powerful uptrend ADX: At 31, indicating a strong trend Technical analysis: Sustaining above ₹3,700 supports bullish continuation towards ₹3,955 Risk factors: A close below ₹3,735 would weaken bullish momentum Buy at: ₹3,806.90 Target price: ₹3,955 Stop loss: ₹3,735 MarketSmith India is a stock research platform and advisory service focused on the Indian stock market. Trade name: William O'Neil India Pvt. Ltd. (Sebi Registered Research Analyst Registration No.: INH000015543). Raja Venkatraman is co-founder, NeoTrader. His Sebi-registered research analyst registration no. is INH000016223. 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 guarantees 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.
Mint
a day ago
- Business
- Mint
Top three stocks to buy today—recommended by Ankush Bajaj for 11 August
On Friday, 8 August, the Indian equity market witnessed a broad-based sell-off. Benchmark indices extended their losing streak amid persistent selling pressure across major sectors. Caution dominated the session as weak global cues and continued institutional profit-booking weighed on sentiment. Top three stock picks by Ankush Bajaj for 11 August: Sarda Energy & Minerals Ltd—Current price: ₹534.95 Why it's recommended: Sarda Energy & Minerals Ltd has a daily RSI at 65, indicating steady bullish momentum. MACD is positive at 26, and ADX at 28 reflects a strengthening trend. After making a new lifetime high, the stock witnessed some profit booking and is now trading at a recent major demand zone. This zone is expected to act as strong support, potentially triggering a rebound from current levels. Key metrics: Demand Zone: Trading near major demand support after lifetime high Pattern: Pullback to support within ongoing uptrend MACD: Positive at 26 RSI: Daily RSI at 65, showing bullish bias ADX: At 28, indicating trend strength Technical analysis: Demand zone support suggests a bounce towards ₹610 Risk factors: A close below ₹498 would weaken the support and warrant caution. Buy at: ₹534.95 Target price: ₹610 Stop loss: ₹498 Global Health Ltd (Medanta)—Current price: ₹1,423.20 Why it's recommended: Global Health Ltd has a daily RSI of 71, showing strong bullish strength. MACD is at 31, and ADX at 35 confirms a robust trending phase. On the daily chart, the stock has broken out of a triangle pattern — a continuation setup often leading to further upside. The breakout is supported by strong momentum indicators, making the stock poised for a move towards ₹1,540. Key metrics: Breakout Zone: Triangle breakout confirmed Pattern: Continuation pattern indicating trend resumption MACD: Positive at 31 RSI: Daily RSI at 71, reflecting strong buying pressure ADX: At 35, confirming trend strength Technical analysis: Breakout suggests further upside towards ₹1,540 Risk factors: A close below ₹1,362 would invalidate the breakout. Buy at: ₹1,423.20 Target price: ₹1,540 Stop loss: ₹1,362 Cummins India Ltd—Current price: ₹3,806.90 Why it's recommended: Cummins India Ltd shows strong momentum with a daily RSI at 76, MACD at 71, and ADX at 31—all confirming bullish dominance. The stochastic oscillator has also given a strong breakout above the ₹3,700 level, turning that zone into a crucial support. Sustaining above this breakout point keeps the bias positive, with potential for an upward move towards ₹3,955. Key metrics: Breakout Zone: Stochastic breakout above ₹3,700 Pattern: Momentum continuation MACD: Strong positive at 71 RSI: Daily RSI at 76, reflecting overbought but powerful uptrend ADX: At 31, indicating strong trend Technical analysis: Sustaining above ₹3,700 supports bullish continuation towards ₹3,955 Risk factors: A close below ₹3,735 would weaken bullish momentum. Buy at: ₹3,806.90 Target price: ₹3,955 Stop loss: ₹3,735 Stock market wrap The Nifty 50 dropped sharply by 232.85 points or 0.95%, ending at 24,363.30, while the BSE Sensex slipped 765.47 points or 0.95%, settling at 79,857.79. The Nifty Bank also closed deep in the red, losing 516.25 points or 0.93% to finish at 55,004.90, reflecting broad weakness in financial counters. Sectoral performance was largely negative. Realty declined 0.45%, Metal fell 0.25%, and Auto dipped 0.20%, highlighting the absence of strong buying support. While Oil & Gas (+0.75%), Healthcare (+0.61%), and PSU (+0.29%) managed to hold marginally higher, the broader tone remained weak. In stock-specific movers, NTPC gained 1.52%, Titan rose 1.30%, and Dr. Reddy's advanced 0.88% on selective buying interest. On the downside, Bharti Airtel plunged 3.33%, Adani Enterprises lost 3.19%, and IndusInd Bank fell 3.08%, contributing significantly to the market's overall decline. Nifty technical analysis—daily & hourly On 8 August, the Nifty closed sharply lower at 24,363.30, losing 232.85 points or 0.95%, marking a clear breakdown and reinforcing the ongoing bearish momentum. This decline also came with a notable deterioration in the technical setup, as the index registered a negative crossover on the daily chart —the 20-day SMA at 24,871 has now crossed below the 40-day EMA at 24,884. This kind of crossover is often seen as a signal that a deeper corrective phase could unfold. At present, the Nifty is trading well below all its key short-term moving averages. On the daily chart, it remains under both the 20-day SMA and 40-day EMA, and on the intraday chart, it is below the 20-hour SMA at 24,486 and the 40-hour EMA at 24,581. The fact that the index has not been able to even test these averages during small intraday recoveries highlights persistent selling pressure and a lack of strong dip-buying interest. As long as the Nifty stays below these levels, the short-term directional bias will remain firmly negative. Momentum indicators continue to paint a weak picture. The daily RSI has fallen to 33, entering oversold territory but without any sign of a reversal. The daily MACD has slipped further to -166, deep in negative terrain, confirming strong bearish momentum. On the hourly charts, the RSI at 35 and MACD at -67 also remain weak, with no bullish divergence visible. This suggests that although the market is oversold in the short term, the weakness is structural, and any bounce is likely to be corrective rather than the start of a sustained uptrend. The derivatives data is in line with this bearish setup. Total Call OI stands at 173.7 million against a much lower Put OI of 83.6 million, resulting in a bearish Put–Call OI difference of -90.1 million. The heaviest Call OI is at the 25,000 strike, indicating strong overhead resistance, while the biggest Call OI addition has come at the 24,500 strike, showing fresh short build-up at this level. On the Put side, the maximum OI is far away at the 22,800 strike, while the highest Put additions are at 24,300—a sign that traders are trying to defend this nearby support, but without much conviction. The change in OI has been heavily skewed, with Call OI rising by 110 million against only 18.6 million on the Put side, keeping the trend bias firmly negative. Overall, the Nifty has entered a decisive bearish phase, with both price action and options data pointing to further downside. The negative crossover of the 20-day SMA below the 40-day EMA adds weight to the bearish case. Until the index reclaims at least 24,500–24,580 on the hourly chart and 24,884 on the daily chart, any move higher is likely to be a short-lived pullback. Immediate support lies at 24,300-24,250, and a break below this could open the gates for a move toward 24,000, where an unfilled gap still exists. For now, the strategy remains to sell on rises toward resistance zones, keeping a stop-loss above 24,880 on a closing basis, and to avoid aggressive longs until the trend shows a confirmed reversal backed by strong volumes. 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.
