Buz Investors Technical Breakout The other morning, as I was doing my daily scan for stocks that were on the move, I stumbled upon AT&T Inc. (NYSE:T) stock

AT&T Stock is on the Brink of a Technical Breakout

T Stock is Technically Perfect

Buz Investors Technical Breakout The other morning, as I was doing my daily scan for stocks that were on the move, I stumbled upon AT&T Inc. <span data-recalc-dims=(NYSE:T) stock" width="300" height="182" srcset="https://i0.wp.com/investorsbuz.com/wp-content/uploads/2017/03/ATT-stock-300x182-Small.jpg?resize=300%2C182 300w, https://i0.wp.com/investorsbuz.com/wp-content/uploads/2017/03/ATT-stock-300x182-Small.jpg?resize=768%2C466 768w, https://i0.wp.com/investorsbuz.com/wp-content/uploads/2017/03/ATT-stock-300x182-Small.jpg?w=791 791w" sizes="(max-width: 300px) 100vw, 300px" />

Buz Investors Technical Breakout The other morning, as I was doing my daily scan for stocks that were on the move, I stumbled upon AT&T Inc. (NYSE:T) stock, and I was quite surprised.

AT&T stock contains certain characteristic that I look for in a potential investment. These characteristics are used to generate an investment view that is either bullish or bearish, indicating my belief that the stock price will either appreciate or depreciate. After studying the price chart, I have come to the conclusion that the bullish trend in T stock is intact and that higher stock prices are likely.



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Technical Breakout

Using a price chart to generate an investment view is within the context of technical analysis. This method of investment analysis is based on the notion that historical price and volume data can be used to discern trends and forecast future stock prices. I have been using this method for nearly two decades and I have had great success in applying it to my trading strategies.

A bearish cross was generated in 1999, 2008, and 2013, indicating that bearish momentum was propelling T stock and, as a result, the path of least resistance was geared toward lower prices. This indicator smartly confirmed the notion that lower prices were set to prevail, and it would have proven wise to avoid this investment when a bearish cross was engaged.

This same indicator produced a bullish cross in 2003, 2009, and 2015, indicating that bullish momentum is propelling AT&T stock and that, as a result, the path of least resistance was geared toward higher prices. This indicator proved once again that, when a bullish cross is engaged, higher prices will prevail. The indicator also implied that being long on the stock is the best course of action.

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Buz Investors TECHNICAL ANALYSIS GBPUSD hit a more than seven-week low during yesterday’s trading. At the moment, it is mostly unchanged from the day’s open while price movement has been lacking volatility as well.

TECHNICAL ANALYSIS – GBPUSD BEARISH OUTLOOK AFTER HITTING A MORE THAN SEVEN-WEEK LOW

TECHNICAL ANALYSIS – GBPUSD BEARISH OUTLOOK AFTER HITTING A MORE THAN SEVEN-WEEK LOW

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Buz Investors TECHNICAL ANALYSIS GBPUSD hit a more than seven-week low during yesterday’s trading. At the moment, it is mostly unchanged from the day’s open while price movement has been lacking volatility as well.

The RSI is currently bearish and well below the 50 neutral level at 34. The stochastics are also painting a negative short-term picture, as the %K line is in negative territory as well. Note though that %K is in oversold territory below the 20 mark. This could be a sign that an immediate-term upside movement for the pair is not to be ruled out.




 

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TECHNICAL ANALYSIS

On the upside, the 1.22 handle could serve as a psychological barrier. A break above this level would eye another potential key level that held in the past, namely the 1.23 mark. Further upside moves are expected to meet resistance at the current level of the 50-day moving average (MA) at 1.2384.

On the downside, yesterday’s low of 1.2134 could provide support. Should it fail to hold, focus would shift to the mid-January thirty-two year low of 1.1986, which is expected to serve as an important support level.

Regarding the medium-term outlook, it is bearish as the price is below both the 50-and 200-day MAs and has been trending downwards since the latter part of February.

Overall, the short- and medium-term outlook is bearish.




major currencies: (EUR-USD) (USD-JPY) (USD-GBP) (USD-CHF), (USD-CAD), (AUD-USD)




BUZ INVESTORS AUDUSD BULLISH AUDUSD is currently more or less unchanged from the day’s open. Yesterday it recorded a fifteen-week high of 0.7740.

TECHNICAL ANALYSIS – AUDUSD BULLISH IN THE NEAR-TERM AFTER HITTING A FIFTEEN-WEEK HIGH

TECHNICAL ANALYSIS – AUDUSD BULLISH IN THE NEAR-TERM AFTER HITTING A FIFTEEN-WEEK HIGH

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BUZ INVESTORS AUDUSD BULLISH AUDUSD is currently more or less unchanged from the day’s open. Yesterday it recorded a fifteen-week high of 0.7740.

Looking at the Ichimoku analysis, the positive alignment when the Tenkan-sen line (red) crossed the Kijun-sen (blue) in mid-January is still in place. This bullish short-term signal is reinforced by the RSI indicator, which is at currently at 64, well above the 50 neutral level.



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AUDUSD BULLISH

On the upside, yesterday’s high (0.7740) is expected to provide resistance. A successful break above it would eye the November 8 ten-month high of 0.7777 as another important resistance level. A break above this mark could potentially lead to a more sustained rally (especially if 0.78, a key level in the past, fails to hold as well).

On the downside, the current level of the Tenkan-sen at 0.7679 is likely to act as support (note that this is around a congested area in the recent past). If it is challenged and fails to hold, focus would shift to 0.7616, the point where Kijun-sen is at the moment, as another support level.

Looking at the medium-term outlook, the pair recorded a bearish cross on December 19 when the 50-day moving average (MA) moved below the 200-day one. However, the upward trend since late December that led to the price crossing above both MAs, combined with prices significantly above the cloud, are setting a neutral to bullish medium-term picture (a note of caution for an overextended rally though).

Overall, the short-term sentiment is bullish and the medium-term is neutral to bullish.



major currencies: (EUR-USD) (USD-JPY) (USD-GBP) (USD-CHF), (USD-CAD), (AUD-USD)




Buz Investors EURGBP TESTS KEY RESISTANCE EURGBP has been neutral since mid-January and pivoting around the 50-day moving average and trading between 0.8455 and 0.8650. In the past week, the pair has been capped at the 50-day moving average,

TECHNICAL ANALYSIS – EURGBP TESTS KEY RESISTANCE AT 50-DAY MOVING AVERAGE

TECHNICAL ANALYSIS – EURGBP TESTS KEY RESISTANCE AT 50-DAY MOVING AVERAGE

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Buz Investors EURGBP TESTS KEY RESISTANCE EURGBP has been neutral since mid-January and pivoting around the 50-day moving average and trading between 0.8455 and 0.8650. In the past week, the pair has been capped at the 50-day moving average, which is providing resistance at 0.8540. This is giving a bearish bias in the near-term, as long as the market remains below this resistance level. RSI is below 50, indicating further downside in EURGBP is possible. MACD is below zero, also giving a bearish signal. Given this, a deeper fall in the market cannot be ruled out yet.




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EURGBP TESTS KEY RESISTANCE

Support comes in at 0.8455, which is defined by the 200-day moving average and this week’s low. A break below this support level would shift the bias to the downside to target 0.8304 (December 2016 low).Alternatively, if prices manage to clear the 50-day moving average resistance area, then there is scope to target 0.8650, which is an important resistance level that has been approached a few times in the past. Only a break above this level would shift the medium-term outlook from neutral to a more bullish one and target important resistance levels at 0.8765 and 0.8851.



major currencies: (EUR-USD) (USD-JPY) (USD-GBP) (USD-CHF), (USD-CAD), (AUD-USD)




Buz Investors TECHNICAL ANALYSIS USDJPY is currently up from the day’s open, roughly recovering one-fifth of yesterday’s decline in price. Looking at the stochastics, the %K line is in bearish territory. Adding to this negative near-term signal is the fact that it (%K) has crossed below the slow %D line.

TECHNICAL ANALYSIS – USDJPY BEARISH TO NEUTRAL IN THE NEAR-TERM

TECHNICAL ANALYSIS – USDJPY BEARISH TO NEUTRAL IN THE NEAR-TERM

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Buz Investors TECHNICAL ANALYSIS USDJPY is currently up from the day’s open, roughly recovering one-fifth of yesterday’s decline in price.

Looking at the stochastics, the %K line is in bearish territory. Adding to this negative near-term signal is the fact that it (%K) has crossed below the slow %D line. The RSI indicator is theoretically bearish as well, but it is in close proximity to the 50 neutral level at 48. This perhaps indicates that the strength of this short-term bearish signal is not that strong.

 



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TECHNICAL ANALYSIS

The 23.6% Fibonacci retracement level at 114.49 (November 9 – December 15 upleg) is likely to provide some resistance to upside movements in price. Should the price break above it, next immediate resistance would likely come from the current level of the 50-day moving average (MA) at 115.07.

On the downside, the 38.2% Fibonacci at 111.94 is expected to act as support (note that the area just below -around 111.60- was recently tested and managed to hold). If the price moves further below, the 50% Fibonacci would come into scope as another support level.

In the medium-term picture, the pair recorded a bullish (golden) cross in early December when the 50-day MA moved above the 200-day one. However, the price moving below the 50-day MA is setting a more neutral outlook for the pair at the moment.

Overall, the short-term bias is bearish to neutral and the medium-term is neutral.



major currencies: (EUR-USD) (USD-JPY) (USD-GBP) (USD-CHF), (USD-CAD), (AUD-USD)




TECHNICAL ANALYSIS – EURGBP NEAR-TERM BEARISH WITH THE STRENGTH OF THE SIGNAL UNDER QUESTION

TECHNICAL ANALYSIS – EURGBP NEAR-TERM BEARISH WITH THE STRENGTH OF THE SIGNAL UNDER QUESTION

 TECHNICAL ANALYSIS – EURGBP NEAR-TERM BEARISH WITH THE STRENGTH OF THE SIGNAL UNDER QUESTION

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Buz Investors TECHNICAL ANALYSIS EURGBP is currently up but little changed relative to yesterday’s close.

The short-term sentiment given by the RSI is negative as the indicator is currently at 46, below the 50 mark distinguishing positive from negative short-term bias. Adding to this, the MACD is slightly negative and below the red signal line. The fact that RSI and MACD are relatively close to 50 and 0 respectively is perhaps indicative that the bearish sentiment is not that strong and that mostly sideways movement in the near-term is also possible.



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TECHNICAL ANALYSIS

On the upside, the 50-day moving-average (MA), currently at 0.8535, comes into view as immediate resistance. A successful break above it would shift focus to a recently congested area, the one around the 0.86 level, as another resistance area.

On the downside, the late January 5-week low of 0.8470 is likely to provide support to down movements in price. Should it be breached, attention would focus to the 200-day MA, currently at 0.8449, as another support mark.

In the medium-term, the price falling below the 50-day MA sets a more neutral outlook for now.

To sum up, the short-term bias is bearish (with technical indicators close to their neutral levels though) and the medium-term is neutral.



major currencies: (EUR-USD) (USD-JPY) (USD-GBP) (USD-CHF), (USD-CAD), (AUD-USD)




TECHNICAL ANALYSIS – EURGBP NEUTRAL IN THE NEAR- AND MEDIUM-TERM

TECHNICAL ANALYSIS – EURGBP NEUTRAL IN THE NEAR- AND MEDIUM-TERM

TECHNICAL ANALYSIS – EURGBP NEUTRAL IN THE NEAR- AND MEDIUM-TERM

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Buz Investors EURGBP NEUTRAL EURGBP has been posting gains for the second day in a row, though it is currently mostly unchanged from the previous day’s close. Yesterday it rose by slightly more than 0.9%.

The RSI indicator is currently at 52, in close proximity to the 50 neutral level that distinguishes positive from negative short-term market sentiment. The stochastics are painting a neutral short-term picture as well, since the %K line is in neutral area while it is converging with the slow %D line after previously crossing above it.



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EURGBP NEUTRAL 

On the upside, the area around 0.8625 has during the past few months served as both support and resistance and should the price move up, it is likely to provide some resistance. If the price continues moving up, the January 16 two-month high of 0.8851 would come into view as another resistance level.

On the downside, the 50-day moving average (MA), currently at 0.8527, is likely to act as immediate support. A breach of this level would bring into scope the late January three-week low of 0.8470 as another support level.

Looking at the medium-term outlook, the price is at the moment above both the 50- and 200-day MAs, though it has not been consistently above the 50-day one. This sets a more neutral medium-term outlook.

Overall, both short- and medium-term bias is neutral.

major currencies: (EUR-USD) (USD-JPY) (GBP-USD) (USD-CHF), (USD-CAD), (AUD-USD)




Buz Investors XAGUSD Price of Silver The silver market performed reasonably well in 2016, with the price of the precious metal picking up more than $2 to close the year at $15.88 per ounce. That in turn helped boost the prospects for silver-tracking investments like the iShares Silver Trust

$XAGUSD Silver Prices Roadmap for Navigating Current Technical Landscape

Silver Prices Roadmap for Navigating Current Technical Landscape

Buz investors Silver Prices Roadmap The precious metal is trading at $17.34 per ounce at 10:40 GMT this morning, 0.86% lower from the New York close. During the session, silver traded at a high of $17.50 per ounce and a low of $17.29 per ounce

Silver

Buz investors Silver Prices Roadmap The precious metal is trading at $17.34 per ounce at 10:40 GMT this morning, 0.86% lower from the New York close. During the session, silver traded at a high of $17.50 per ounce and a low of $17.29 per ounce. In the New York session yesterday, silver fell 0.96% and closed at $17.49 per ounce, tracking losses in gold prices. Immediate downside, the first support level is seen at $17.17 per ounce, while on the upside, the first resistance level is at $17.62 per ounce.



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Silver Prices Roadmap

 

looking at silver as it traded above the neckline of an inverse H&S formation, but was facing off with important trend-line resistance extending back to the July high. Yesterday, as the US dollar reversed, so did silver off this important line-in-the-sand. The decline off the Thursday high is putting silver back down towards the low 17s, an area the metal previously struggled to overcome since November. This barrier (now support) dating back to June roughly coincides with the neckline. The zone from the current price (17.32) down to ~17 is big support and a break below and the trend-line extending higher from the December low would quickly expose the possibility that the bullish bottoming pattern is on the verge of failing. If this were the case, confirmation would come on trade back below the right shoulder low created on 1/27 at 16.64.

silver is challenging support and will be treated as a potential floor until broken.

Traders looking out over the short-term are caught between strong support and strong resistance. This makes for a difficult situation to trade in either direction. Those looking out over a longer-term horizon – weeks or longer – are faced with a decision here. Aggressive traders may look for ‘best prices’ by establishing a short position along the July trend-line, with stops not far above. However, there is the conflicting bullish inverse H&S formation to take into consideration. With that in mind, waiting for a break of the right shoulder low looks like the safer way to play this at the moment. For those looking to establish a long position, yes there is the bullish pattern in play on your intended side of the market, but the steadfast downtrend line needs to give-way first before upward momentum can set in. On that idea, waiting for silver to break above the trend-line first looks like the more prudent move on this end.

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TECHNICAL ANALYSIS – USDJPY NEUTRAL, RISK OF MORE DOWNSIDE BELOW 112.00

TECHNICAL ANALYSIS – USDJPY NEUTRAL, RISK OF MORE DOWNSIDE BELOW 112.00

TECHNICAL ANALYSIS – USDJPY NEUTRAL, RISK OF MORE DOWNSIDE BELOW 112.00

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Buz Investors USDJPY NEUTRAL USDJPY remains neutral in the near term and has been trading in a range between 112.00 and 115.50 since mid-January.

The immediate bias is to the downside and the pair is currently testing the 38.2% Fibonacci retracement level of the rise from 102.54 to 118.65 (November 3 to December 15 uptrend). This 38.2% Fibonacci level at 112.50 has been tested several times in the past two weeks and appears to be a strong support level. Below this, another important support level lies at 112.00, which if broken, would increase downside pressure and shift the bias to a more bearish one.



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USDJPY NEUTRAL

Continued downside moves would target the 50% Fibonacci at 110.60 and the 61.8% Fibonacci at 108.70. The RSI indicator is below 50 in bearish territory and indicates further downside is possible.

But if USDJPY bounces back up and reclaims the 113.00 handle, this would weaken downside pressure. Prices would target the next resistance levels at 114.87 (23.6% Fibonacci) and the top of the range at 115.50.

Looking at the bigger picture, the market was in an uptrend from 102.54 to 118.65 before reversing. The move back down could be seen as a correction of the longer-term uptrend as long as support at 112.00 holds.

major currencies: (EUR-USD) (USD-JPY) (GBP-USD) (USD-CHF), (USD-CAD), (AUD-USD)