Trade talks to boost the market
The global stock market is traded at the positive side today following positive cue about U.S-China trade talk. Financial times reported major progress where U.S and China have cleared the main issue and getting near to formulate trade agreement.
At the time when this article was written, DJIA futures pointed up 114 points. Japan’s Nikkei up 207.90 points (+0.97%), Shang Hai Composite up 39.47 Points (+1.24%), and Australia ASX 200 up 42.60 points (+0.68%). DAX Germany up 126.20 points (+1.13%), UK FTSE up 7.28 points (+0.10%), and Euro STOXX600 up 2.85 points (+0.74%).
Dow Jones Industrial Average (INDU)
DJIA closed above 26,000 and maintain the position above it yesterday. There was not much movement from the index and it closed inside Monday range. Today, the index futures pointed higher in the Asian and European session which indicate higher opening. As long as there is no close below 26,000 then the index has the opportunity to continue upward and test all-time high.
Ryder System Inc (R)
R share prices rejected from SMA 200 in the previous test. The downward movement from the rejection continues until it found support at the 38.2% Fibonacci Retracement level. Now, the share prices back near the SMA 200 and looking to test it again. Will R breakout higher and close above the SMA 200? Alternatively, will it rejected and start new bearish leg?
Twitter Inc (TWTR)
TWTR trapped inside a triangle pattern and there is no breakout yet. The share prices are testing the top of the triangle and looking for a breakout. The top of the triangle also coincides with daily SMA 200 which form confluence. If TWTR could breakout above SMA 200 and maintain the level above it then we could expect TWTR to start a bullish trend.