Chevron Corporation or CVX as listed in the New York Stock Exchange tripled its 2010 2nd quarter net income to $5.4 billion compared to the year earlier. Higher oil prices and a rise in oil production played vital roles in the 10-digit profit of this oil giant beating analysts’ expectation. Chevron stocks closed with a 0.25% gain to $76.21 during last Friday’s trading session.
Chart-wise, the stocks are headed northbound but could encounter some selling pressure at the $77.25 resistance. If that hurdle gets cleared out, the next resistance could be $80.75. On the flip side, the immediate significant support could be $70.96. If the stock price further drops below that area, the next support could be $66.83.
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Hiyo FX men and women! Welcome to another week and month of forex trading! On today’s canvas is the daily chart of the EURCHF pair. As you can see, the euro has rallied against the Swiss franc after it hit a new historical low at on July 1. Notice that the pair has since traded ... More on this topic (What's t...
Posted: August 2, 2010 at 12:01 am
Hi guys, here’s an update of Filinvest Land Inc. (FLI) which is my stock pick in the Philippine Stock Exchange. They are also one of the leading residential property developers in the Philippines. Anyway, last June, FLI was still setting up the symmetrical triangle formation in its stock chart (kindly check here for my post about ... ...
Posted: August 1, 2010 at 5:41 pm
Hi guys! Back in my last technical analysis on the chart of the Philippine Stock Exchange Index (PSEi), I thought there was an ascending channel breakout that took place (kindly check here). Apparently, what looked to be a breakout really wasn’t a breakout but more of a bounce from a new resistance so I had ... ...
Posted: August 1, 2010 at 3:13 pm
Good day forex fans! Here’s a closer look on the EURUSD pair. Actually, the pair has continued to rise and has even broken the 1.3000 resistance. Back in my last post about it back in July 26 (kindly see it here), I mentioned that a break above 1.300 could propel it further north. Well, the ... ...
Posted: July 30, 2010 at 11:04 am
The Nikkei 225 is the major stock market index for the Tokyo Stock Exchange (TSE). By the way, the Tokyo Stock Exchange – the total market capitalization of its listed companies makes it the second largest stock exchange in the world next to the New York Stock Exchange. Thus, whatever happens to the country as exhibited in this ... ...
Posted: July 29, 2010 at 6:44 pm
Visa Inc., one of the world’s largest credit and debit card processing company where you can pay using digital currency instead of cash and checks, posted a $716 million profit for the 2nd leg of this year. This American company’s earnings were boosted as consumer spending via credit cards increased. However, their stocks closed d...
Posted: July 29, 2010 at 9:49 am
Say what?! Yeah.. You read that correctly. After making a bullish run for the longest time and even marking new historical highs one after another, gold apparently has just lost its upward momentum. In my last post about it back in June 28 (kindly see it here), gold was pretty much in fashion as it ... ...
Posted: July 29, 2010 at 1:17 am
Against the US dollar, the euro has been showing a lot of strength as of late (kindly see my post here). The EURJPY, on the other hand, was a pace or two behind. While the EURUSD was already moving north, its cousin was still stuck in consolidation mode. Just recently, though, the latter appears to ... ...
Posted: July 28, 2010 at 5:24 am
UBS, a diversified global financial services company, soared by 8.91% to $16.50 per share yesterday when the company reported a better-than-expected second quarter earnings. Sentiment on the stock was downbeat during the second quarter as evidenced by the stock’s decline because of the scare that was brought about by the debt crisis in the eu...
Posted: July 28, 2010 at 2:59 am
Back in my last chart analysis on the Shanghai Stock Exchange Composite (kindly check here), the index was still moving inside a descending channel after breaking down from the inverted flag formation. However, we have a different story now. As you can see in the chart provided, the SSEC managed to break above the descending ... ...
Posted: July 27, 2010 at 5:41 pm
Deutsche Bank which really means “German Bank” or DB in the New York Stock Exchange reported a net income of $1.5 billion for the 2nd quarter of 2010. The wide array of financial products and services such as retail banking and fund management propelled the more than expected 10-digit quarterly profit for the German Bank. During ... ...
Posted: July 27, 2010 at 12:57 pm
Here’s an update of the US dollar index or the USDX which I last posted on July 15 (kindly see my last blog here). As you can see from the chart, the index has continued to weaken after it broke its long term uptrend line and the 61.8% Fibonacci retracement level that I drew. At ... ...
Posted: July 27, 2010 at 1:53 am
The FedEx Corporation or the FDX in the New York stock Exchange is one of the major logistics company in the world. Like the UPS which I presented a few days back (kindly check my previous blog here) also gapped up following an upbeat earnings forecast. The shares of FedEx jumped by 4.5% to $82.58. ... ...
Posted: July 27, 2010 at 12:32 am
Good day forex friends! It’s been a long time since I last posted about FX but now I’m back! So here it is! In today’s canvas is an update of the EURUSD pair. As you can see from its daily chart, the euro has been recovering very well after it hit a low of around ... ...
Posted: July 26, 2010 at 2:54 pm
Hiyo peeps! On this post is the daily chart of the NZDUSD pair. As you can see, the pair has been generally trading sideways for the past several months now. Though for the past two months, it has been showing some promising upswings. After falling to a low of 0.6560 back in June, the pair ... ...
Posted: July 26, 2010 at 1:46 pm
Kimberly-Clark Corporation or KMB in the New York Stock Exchange is involved in manufacturing and marketing of health and hygiene products worldwide. They are the maker of Kleenex tissues and Huggies diapers that you see around groceries and convenient stores. Their revenue for the 2nd quarter of 2010 was weaker than expected. However, their net i...
Posted: July 26, 2010 at 12:13 pm
The Nasdaq Composite Index or ^IXIC is a stock market index in the US that has over 3,000 listed technology and growth companies. Some of the notable companies listed here are google, yahoo and amazon. The more-than-expected earnings result last week of US based IT companies such as Apple Inc. helped lead the Nasdaq or the ... ...
Posted: July 25, 2010 at 8:03 pm
Hi guys! I’ve been observing Phoenix Petroleum Philippines, Inc. or PNX in the Philippine Stock Exchange for the past month (kindly check here for my last post about it). Now, the ascending triangle formation in its stock chart has broken out (indicated by the red circle) as its price passed above the 7.20 peso resistance two ... ...
Posted: July 25, 2010 at 3:33 pm
The shares of United Parcel Service, the world’s largest package delivery company, or simply UPS in the New York Stock Exchange reversed for the better following yesterday’s price action. As you can see from the chart, the stock has gapped up and in the process also broke out from an inverted head and shoulders formation. ... ...
Posted: July 23, 2010 at 2:06 pm
AT&T Incorporated, the largest telecommunications company in the US, or T in the New York Stock Exchange topped the market’s earnings estimate due to the increased demand in iPhones. Thanks to its exclusive contract to sell the iPhone, the company was able to sell 3.2 million units of the phone and gained a net 496,000 ... ...
Posted: July 23, 2010 at 12:54 pm
The German Stock Index (Deutscher Aktien IndeX/^DAX/^GDAXI) consists of the 30 major German companies trading in the Frankfurt Stock Exchange. Some of the notable companies included in this index are Adidas, BWM, Deutsche Bank and Volkswagen Group. The index went up by 2.53% to 6,142.15 as the PMI (Purchasing Managers Index) numbers in the Euro-zo...
Posted: July 22, 2010 at 6:41 pm
The online auction giant eBay Inc., ebay as its ticker symbol in the New York Stock Exchange or eBay.com as known to many posted a stunning 2nd quarter net income of $412 million. These gains were driven by its subsidiary PayPal (paypal.com) which provides online money transfer and payment processing for online vendors through credit cards. Ebay&...
Posted: July 22, 2010 at 12:36 pm
The Bank of America, the largest bank holding company in the US in terms of assets, or the BAC in the New York Stock Exchange reported that its second quarter net earnings had slipped by 3% to $3.12 billion from $3.22 billion in the same leg the year before. Still, the company managed to hike ... ...
Posted: July 21, 2010 at 12:30 pm
Schnitzer Steel Industries, an American steel manufacturer, or SCHN in the Nasdaq index soared yesterday when its shares were upgraded to “Buy” from “Neutral” by UBS. the company’s profit outlook was raised by the mentioned bank due to rising scrap prices and the increasing demand from China for its materials. As you c...
Posted: July 21, 2010 at 11:33 am
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