Recovery after the dip

The global stock market is making recovery in today’s trading session after being under the pressure of coronavirus. This could be a temporary recovery movement as there is no solution yet to the situation. At the current time, DJIA futures up more than 300 points and set for the second-day bullish attempt.

Asian & European Stock market

The Asian stock mostly higher today. Japan’s stock market up 112.65 points (+0.49%) to 23,084.59, China stock market move higher 36.68 points (+1.34%) to 2,783.29 and Australia ASX 200 up 25.40 points (+0.37%) to 6,948.70. The European stock market also traded higher. DAX Germany up 1.19%, UK FTSE up 1.27%, Euro STOXX600 up 1.13%

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA set to move higher today after a major dip in the previous week. The index currently trades near the daily SMA 50. If there is a close above it then the index might continue upward and resume its bullish trend. We are skeptical that bullish continue will happen as no solution found yet on coronavirus. Traders will continue to monitor the index movement for now.

Walmart Inc (WMT)

WMT maintained the position above daily SMA 200 and there was a bounce from the averages last week. This week, if the share prices could maintain the positions above the trendline and the daily SMA 200 then we will expect a bullish bounce to continue.