Uncertain market as trade deal under threat
Trade war situations between U.S and China might continue to take back and forth direction. There are questions on how much and how long China will purchase U.S agricultural products. Aside from that, China wants tariffs on Chinese products canceled before proceeding with the purchase. Moreover, China also threatened will take countermeasure after U.S house of representative passed a bill that favoring protesters in Hong Kong
Asian & European Stock market
The Asian stock market mixed. Japan’s stock market up 265.71 points (+1.20%) to 22,472.92, China stock market down 12.33 points (-0.41%) to 2,978.71, and Australia ASX 200 up 84.50 points (+1.27%) to 6,736.50. The European stock market cautious about Brexit talk. DAX Germany up 0.38%, UK FTSE down 0.29%, Euro STOXX600 up 0.09%
Dow Jones Industrial Average (INDU)
DJIA broke above 27,000 and close above it. The index might continue its upward movement and target the top trendline. No change to the current outlook as long as no breakout happen.
Electronic Arts (EA)
EA share prices traded inside a triangle pattern and currently move near a cluster of daily averages. It might bounce upward from the current level and it is the best place to look for long positions. We think the share prices will continue its ranging movement for now.
Gilead Sciences Inc (GILD)
GILD make a bullish correction and it manage to reach the daily SMA 200. If the bear could maintain the share prices below the averages then we might see a bearish continuation soon. However, if a breakout higher happen then GILD could continue upward and target the top trendline.
Kimberley Clark Corp (KMB)
The bearish correction still continues in KMB share prices. It broke below SMA 100 and currently on track toward SMA 200. Traders could prepare for long positions when the share prices hit SMA 200 and form a major bullish reversal pattern.