Current trend

The Dow Jones index continues to trade with positive dynamics: the price is near the important resistance level of 7/8 Murrey or 25683.6.

US indices were significantly supported by the growth of shares of telecommunication companies. So, Sprint added 9.96% and T-Mobile 7.72% because of information about a possible merger. Berkshire Hathaway shares also grew, after the giant's operating profit exceeded the forecast and reached USD 6.89 billion. The former outsider, Facebook, yesterday also significantly added in capitalization (by 4%) after the news on an agreement with large banks to obtain more detailed information about customers who are users of the social network. Thereby, the company plans to use the network not only for communication but also for the sale of goods.

Today, investors will focus on the speech of the Richmond's FRB head Thomas Barkin, as well as the data on the change in oil reserves.

Support and resistance

Stochastic is at 49 points and does not provide a signal for the opening of positions.

Resistance levels: 25683.6, 25781.3.

Support levels: 25585.9, 25508.1.

Trading tips

Long positions may be opened after breaking through the level of 25683.6 with take profit at 25781.3 and stop loss at 25585.9.

DJIA index of the American stock exchange

BuySellSpread
254452543780

Scenario

TimeframeWeekly
RecommendationsBUY STOP
Entry Point25684.6
Take Profit25781.3
Stop Loss25585.9
Support levels25508.1, 25585.9, 25683.6, 25781.3
YM: general review

The material published on this page is produced by the Claws&Horns Company and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

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