U.S stock to trade under pressure today

The major averages in the U.S are slightly lower before the opening bell. It seems the market weighing heavily on the latest disappointment from the facebook-parent meta platform. Share prices tumbled 20% as the company missed Q4 expectations and provide weak guidance for the current quarter.

Traders might expect the bearish pressure to continue to shroud the market for now as technology sectors set for a deeper pullback.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA start to climb this week and return above the daily SMA 200. At the current time, the index is trading above the daily SMA 50 but we might see bearish pressure today as the DJIA futures are lower more than 100 points. Traders will continue to proceed cautiously as earnings result is released. If the index trade lower then the daily SMA 200 is the level to watch.

Jabil Inc (JBL)

JBL share prices bounced from the daily SMA 200 and moved upward to test the daily SMA 50 & 100. We might see consolidation between the averages before the share prices settled a direction. If JBL could breakout higher then the bullish trend could continue. On the other hand if the share prices breakout below the daily SMA 200 and print a lower swing low then the bearish trend will start.

Walgreen (WBA)

WBA share prices have broken above the daily SMA 200. If the bullish movement could continue then we might see a golden cross between the three averages. Traders will wait for a further reaction from the current level. Long positions could be taken with a tight stop below the latest swing low.