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Instrument: US100
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 12000.59 with take profit at 12052.65
Bearish Preference:
Sell position is envisaged if price trades below 11826.19 with take profit at 11781.94
Fundamentals:
2:30pm USD Core Retail Sales m/m
USD Retail Sales m/m
Comment:
US semiconductor stocks have come roaring back over the past month, and the largest of them — Nvidia (NASDAQ:NVDA) Corp. — has led the charge. Even some bulls on the company say the rally may not have much further to run. Nvidia’s third-quarter results late Wednesday are likely to show that demand for electronics is still drying up, with analysts predicting an 18% drop in sales. Yet the stock, at 39 times estimated earnings, is still priced for a much better environment, at a time when the global economy appears to be heading for recession.
Analysis: SCRUM Team
