U.S stock extend bullish movement

The bullish sentiment after the FOMC meeting maintained as the stock market moving higher at the end of the week. There are two more FOMC meeting before the end of the year and both of them might deliver a rate-cut decision. If there is no change to the situation, then we will see the stock market continue rallying to new record high. The same strategy as before, traders could use each bearish correction in the stock market as a chance to add more long positions.

Dow Jones Industrial Average (INDU)

DJIA index grinding upward at the red trend line. No bearish sign as the market stay positive after the FOMC meeting. A bearish correction could happen if a breakout below the trend line happen. On the lower side, the orange trend line and the 45,000 level will become the major level to watch.

DraftKings, Inc (DKNG)

DKNG share prices under risk of further bearish movement to target the daily SMA 200. At the current time, the share prices look found support at the daily SMA 100. If it could stabilize and bounce strongly from the SMA 100 then the bullish trend could continue. Traders could make use of the range between daily SMA 100 & 200 to take long positions.