Another calm day

U.S stock market prepares for a quiet and slow trading day similar to Monday trading session. On Monday, Dow Jones Industrial Averages closed +1.92 points and moved inside 120 points range. On Europe, UK inflation turn out higher than expected, the rising trend of inflation might be good, but if uncontrolled might lead to a wild increase.

United Airlines have been the hot topic to talk Today. The company dragged a man passenger out of the plane which is randomly chosen in order to accommodate their crews. CEO supported the action of the crew noted the passenger as “disruptive and belligerent.” China people outraged by this event and petition for a boycott on United Airlines. The growing situation might influence the airline’s share price as the boycott to the second largest airlines user country prove to be serious.

European indices and Asian indices show mixed performance which is normal in a directionless day.

Technical Analysis

Dow Jones Industrial Averages (INDU)

Not much change in the DJIA index. The index could break higher above 20,800 or continue lower below daily SMA 50, but it might not happen this week.

Archer Daniels Midland (ADM)

The share price of ADM looks moving inside triangle range, and the price will continue moving inside the triangle. Currently, it is near the daily SMA 50 & 100 also the horizontal support level at $45. Traders could take a long or short position from the top and bottom of consolidation range with $45 as the initial target.

PTC Inc (PTC)

PTC is moving inside the bullish channel, and the price currently sits near the bottom of the channel which is a good place to look for a long position. The upside target for the long position is the top of the channel.