Dow aims to close higher at last day of April

It the last day of April and Dow Jones Industrial Averages opened up more than 100 points and aiming to close the month on positive. McDonald is the driving force behind today strong opening. The company reported earnings per share of $1.79 vs. $1.67. Revenue comes out at $5.14 billion vs. consensus $4.97 billion. Compared to previous year revenue of $5.68 billion, it is a decline but expected as the company shift back to its core business of re-franchising.

The focus of the market once again will tilt heavily on trade wars and geopolitical issue. This week, U.S. Treasury Secretary Steven Mnuchin’s will visit China for high-level trade talks. Aside from the trade, the market also will observe job data which release at the end of the week.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index is moving inside a triangle consolidation, and the index also moves between daily SMA 50 & 200. There is no definite direction yet, but it looks like the trend is currently bearish. Traders will continue to observe the index movement and wait for a break outside of the triangle.

Baidu Inc (BIDU)

The upcycle is finished in BIDU as the share prices hit the top of the red channel. Will it continue the movement inside channel? Alternatively, will it disregard the resistance and continue moving further upside?

Twitter Inc (TWTR)

The situation of TWTR share prices is similar to the situation in DJIA chart. The trend is sideways and moving inside the triangle pattern. Traders will look for the break outside of the triangle and ride the breakout direction.

Other Watchlist

LLL – The share prices are testing the level near daily SMA 200, look for the possibility of a bounce.

ATVI – Not much movement since the price hit daily SMA 200. It is consolidating between the SMA 100 & 200. The trend is up, but it is possible for breakout lower and turn the trend to bearish.