empty
 
 
03.05.2021 06:39 AM
Buying and Selling in the Stock Market on May 3

Purchase of Teva Pharmaceutical Industries shares (#TEVA). An Israeli pharmaceutical company.

On the weekly chart, the Marlin oscillator turned up from its own zero line. Using the pivot point on the price chart, we draw the price channel. Let's look at the details and targets on a daily scale.

This image is no longer relevant

On the daily chart, the price with the Marlin oscillator formed a convergence. The signal line of the oscillator has penetrated into the growth zone. The targets are determined by the nested lines of the price channel: the first target is 11.19, the second target is 12.16, and the third target is 12.52.

This image is no longer relevant

Sale of Marvell Technology Group shares (#MRVL). American manufacturer of semiconductor devices.

This image is no longer relevant

On the weekly chart, four weeks ago, the Marlin oscillator turned down from the border with the growth territory. At this point, the price completed a deep 76.4% correction from the downward movement of January 20-March 5 (on the chart, this is the 23.6% Fibonacci line). Long-term targets are determined by the Fibonacci levels: 76.4% - 42.12, 100.0% - 27.98, 123,6% - 33.71.

This image is no longer relevant

On the daily chart, the price last Friday moved down with force, leaving the consolidation at the level of the 50.0% correction, and anchoring under the red balance line indicator. The Marlin oscillator is turning around from the border with the territory of growth for the third time in a row . The downward trend is getting stronger.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback