Remember Nebius Group’s $NBIS best respected weekly moving average support band from the March post?
Price recently came back to give it a good night kiss.
Beautiful!
NBIS @ $187.77
Support: 32/34-week EMAs & 45-week SMA @ $137.23-$164.71
Uber Technologies $UBER peeks below its long-term monthly MA support band (38/48-month EMAs, registered in May/June 2023) that price has been consolidating at recently.
One more trading week left in July; the candle is still live.
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One trading week left in July for bulls to get Rocket Lab’s $RKLB monthly price to close at or above $68.78-$83.59.
That’s the range of the monthly MA support cluster that price has been respecting since 2Q/3Q 2024.
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Lam Research $LRCX visits its daily moving average support band again.
Note the MA resistance band closing in from above.
▪️ Resistance: 7-day EMA & 12-day SMA @ $318.26-$326.85
▪️ LRCX @ $305.21
▪️ Support: 100/104-day EMAs @ $297.12-$299.42
UnitedHealth Group $UNH beautifully rides its 5-week EMA through the (ex) resistance (40/41/44w EMAs) break.
Note the recent rejection by the once-support-now-new-resistance triad (263/275/283w SMAs).
Rivian Automotive $RIVN is back at its weekly moving average support cluster.
RIVN @ $15.84
Support: 47/56/80-week SMAs @ $14.71-$15.90
Hmm… D-Wave Quantum $QBTS did break below $20, and market participants did buy at its weekly moving average support cluster.
Price closed the week right at support.
Will price bounce next week, or will it break support?
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Teck Resources $TECK bounces off its daily moving average support triad, above resistance.
Redwire $RDW slides under its 5-week SMA line. A reversal will have to start with a break above this moving average line.
Resistance: 5w EMA & 5w SMA @ $9.91-$10.22
RDW @ $8.69
Jumia Technologies $JMIA respects its weekly moving average resistance and breaks below its support cluster.
Price closed also under the monthly MA support triad, however, the July candle is still live.
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Are you going to keep us in suspense another week, Spotify Technology $SPOT?
Yet AGAIN, price respects its weekly moving average resistance triad.
This should be worth it, SPOT!
Resistance: 25/26/28w SMAs @ $483.27-$485.71
SPOT @ $482.66
Support: 175/196w EMAs @ $421.92-$437.61
SolarEdge Technologies $SEDG lost 20% of its value last week, however, price stopped right at its moving average support cluster.
Watching next week’s price action – is that the floor, or will support break?
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SEDG @ $42.60
Support: 36/38/42-week SMAs @ $42.66-$43.57
Northrop Grumman $NOC respects its weekly moving average support cluster, mainly the 241-week EMA.
It now challenges its resistance.
