Stock market mixed after bullish start-off

DJIA futures down 70 points at the current time after the previous day’s bullish close. The DJIA index tested the 30,000 handles again yesterday but no close above the level. Traders and investors are hopeful that COVID vaccination will happen soon and boost economic activities. Today, Pfizer and BioNTech vaccine approved for use in the UK. It means the vaccine will be made ready next week.

If the situation continues to improve then we will see DJIA breakout of 30,000 soon.

Asian & European Stock market

The Asian stock market mostly mixed. Japan stock market up 13.44 points (+0.05%) to 26,800.98, China stock market down 2.56 points (-0.07%) to 3,449.38 and Australia ASX 200 up 1.70 points (+0.03%) to 6,590.20. The European stock market slightly lower. DAX Germany down 0.27%, UK FTSE up 0.24%, and Euro Stoxx600 down 0.18%.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA tested the 30,000 resistance level yesterday and there was rejection. The index closed below 30,000 handles though manage to eke gain of 185,28 points. Today, there might be a correction in the index but we expect it to continue trading inside the 29,000 – 30,000 range.

Fastly Inc (FSLY)

FSLY share prices gapped down and continue its downward movement after reached $136.5 top. The share prices showed bounce reaction near the daily SMA 200 and $60.00 horizontal level. Traders could see a flip level around $75.00 where the share prices expected to get supported.

At the current time, FSLY is testing the daily SMA 50 & 100. If the averages broken to the upside then traders will expect rally toward $100.00 handle.