More fresh high in U.S stock market
Neo Coronavirus now named the covid-19 outbreak could not lower the bullish pressure building in the stock market. DJIA futures up more than 100 points before the market open. There is new confirmed case in Singapore, one of DBS employees infected by the covid-19 and 300 are evacuated from the location.
If Singapore has more confirmed cases then it could roil up the global situation. Currently, traders and investors will continue observe the situation.
Asian & European Stock market
The Asian stock market mostly higher. Japan’s stock market up 175,23 points (+0.74%) to 23,861.21, China stock market up 25.22 points (+0.87%) to 2,926.90 and Australia ASX 200 up 32.90 points (+0.47%) to 7,088.20. The European stock market extends the bullish pressure today. DAX Germany up 0.63%, UK FTSE up 0.19%, Euro STOXX600 up 0.34%
Dow Jones Industrial Average (INDU)
Despite the gloomy situation on coronavirus, DJIA continues notch gain and printed fresh all-time high yesterday. We think the index might continue higher and reach 30,000 psychological numbers in the medium-term. Traders could continue to hold long positions in the equity market for now.
Jabil Inc (JBL)
JBL retraced after the test on daily SMA 50. The share prices currently supported by SMA 100 and the 23.6% Fibonacci Retracement level. Will JBL continue down to test 38.2% or 50% Fibonacci Retracement levels? At the current level, traders could look for long positions.
The ideal level for long positions is the SMA 200 or area between 38.2%-50% Fibonacci Retracement.
Wynn Resorts (WYNN)
WYNN share prices are under pressure and currently testing the trendline and SMA 200. We might see further bearish pressure in WYNN share prices as the casino in Macau is closed, caused by coronavirus. Moreover, If WYNN closed below SMA 200 then traders could start looking for short positions.