U.S. Markets fell this morning because of the weak data of Houses Sales and complicated geopolitical situation. But they managed to restore themselves in the afternoon as we still are in an uprising trend.
Asian Markets keep growing for already several sessions in a row. Shanghai Index is on its 7-month high. Investors are watching for an important data from China this week. Subsequently Europe is acting chaotically as we entered the consolidation after a slight correction from the highs.
Microsoft shares showed some weakness after support rate of $44.30 penetration. I’ll wait for the second day of decrease if the price falls below $43.93. Price of shares has grown before as management wanted to reduce the staff of the company by 18 thousand people in one year. The number of employees increased significantly after Microsoft bought the Nokia business. Perhaps we are waiting for a small correction to $43.33, which is 21 EMA.
Facebook opened with a gap up after its report. For the last two days they formed support of $74.75 and resistance of $75.50. Yesterday morning we had a great Put opportunity, when the price had broken the support. There was a quick recovery that followed the quick fall. A series of rising peaks has formed and traders tested the resistance of $75.50. The next few sessions will determine the direction of prices. I will use the trend line combined with support and resistance levels.
The Chinese version of Google, Bidu, increased by 11% after a good report. On the second day the price failed to gain a foothold above the previous high of $226.50. The longer the price will remain below this level, the greater the chance that it will fall below $224. Next support — $217.