Stocks report by HY Markets

Mike Lancy

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HYMARKETS Stocks Report: Bank of America Corp.
• Bank of America falling inside impulse waves 5 and (3)
• Likely to fall to 12.00 and 11.00

Bank of America recently reversed down from the resistance zone lying between the resistance level 12.80 and the 50.00% Fibonacci correction of the previous sharp downward impulse wave (v) from the end of January. The downward reversal from this resistance zone started the active impulse wave 5, which belongs to the sharp intermediate impulse (3) from last November. Bank of America is likely to fall further to the next support level 12.00 – the breakout of which can lead to further losses toward the next strong support 11.00 (low of the previous impulse 3).

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Mike Lancy

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HYMARKETS Stocks Report: American Express Co
• American Express reversed from resistance zone
• Likely to fall to 54.00

American Express recently approached the resistance zone lying between the resistance level 55.30 (which also reversed the previous waves iv, (iv) and (a), as you can see from the daily American Express chart below) and the 38.2% Fibonacci correction of the previous sharp downward impulse from the start of January. Given the strong downtrend visible on the daily American Express charts and the overbought reading on the daily Stochastic indicator - American Express can be expected to fall further to the nearby support level 54.00.

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Mike Lancy

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HYMARKETS Stocks Report: Amazon.com, Inc.
• Amazon broke daily down channel
• Likely to rise to 600.00

Amazon has been rising sharply in the last few trading sessions inside the 3rd intermediate impulse wave (3) – which started earlier – when the price reversed up from the support zone lying between the support levels 500.00, 475.00, lower daily Bollinger Band, 50% Fibonacci correction of the previous weekly upward impulse from October of 2014 and the support trendline of the daily down channel from December. Having just broken the aforementioned down channel – Amazon is likely to rise to the next round resistance level 600.00.

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Mike Lancy

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HYMARKETS Stocks Report: Twitter, Inc.
• Twitter reversed from resistance zone
• Likely to fall to 17.50

Twitter recently reversed down from the resistance zone lying between the resistance levels 20.00 and 22.50. This resistance zone was further strengthened by the upper daily Bollinger Band and by the 38.2% Fibonacci correction of the previous extended downward impulse wave 1 from the end of October (as can be seen from the daily Twitter chart below). The downward reversal from the aforementioned resistance zone started the active minor correction (ii). Twitter is likely to fall further to the next support level 17.50.

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Mike Lancy

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HYMARKETS Stocks Report: Coca-Cola Co/The
• Coca-Cola broke long-term resistance level 45.00
• Likely to rise to 45.50

Coca-Cola has been rising sharply in the last few trading sessions – breaking through the resistance levels 44.50 and 45.00 (both of which were set in our previous forecast as the likely targets for the upward movement of this company). The resistance level 45.00 is a long-term resistance level which reversed the price strongly in October and November of 2014, as can be seen below. Coca-Cola is likely to rise further in the accelerated impulse waves 3 and (3) toward the next the resistance level 45.50. Strong support now stands at 45.00.

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Mike Lancy

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HYMARKETS Stocks Report: Google Inc
• Google broke resistance level 720.00
• Likely to rise to 750.0

Google recently rose up with the sharp upward gap – breaking through the resistance level 720.00 (which stopped the earlier minor impulse wave 1). The breakout of the resistance level 720.00 is likely to accelerate the active minor impulse wave 3 – which belongs to the intermediate impulse (5) – which started earlier – when the price reversed up from the support zone lying between the pivotal support level 670.00, 50% Fibonacci correction of upward impulse from August and the lower daily Bollinger Band. Google is likely to rise to the next resistance level 750.0.

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Mike Lancy

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HYMARKETS Stocks Report: Facebook, Inc.
• Facebook reached resistance level 110.00
• Likely to rise to 115.00

Facebook yesterday broke above the resistance level 110.00, which was set in our previous forecast as the likely target for the upward movement of this company. The breakout of this resistance level is likely to accelerate the active minor impulse waves (iii) and 3 – which belong to the intermediate impulse wave (3) of the primary upward impulse ③ from May of 2014. Facebook is likely to rise further to the next resistance level 115.00 (which reversed the price sharply at the start of February).
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Mike Lancy

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HYMARKETS Stocks Report: Yahoo! Inc.
• Yahoo rising inside C-wave
• Likely to rise to 36.00 and 37.10

Yahoo has been rising in the last few trading sessions inside the C-wave of the intermediate ABC correction (2) from the start of February. The active C-wave started earlier this month – when the price reversed up from the support zone lying between the support level 32.00 and the former upper resistance trendline of the recently broken daily down channel from April of 2015 (acting as support now after it was broken in February). Yahoo is likely to rise to the next resistance levels 36.00 (which reversed earlier wave ②) and 37.10 (target price for the completion of the active wave (2)).

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Mike Lancy

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HYMARKETS Stocks Report: Intel Corporation
• Intel broke multiple resistance levels
• Likely to rise to 34.00

Intel has been rising sharply in the last few trading sessions inside the 3rd minor impulse wave of the intermediate impulse (3) from the middle of February. The active impulse wave (3) earlier broke the three consecutive resistance levels – 30.00, 31.00 (two previous upward targets set in our earlier forecast for this company) and 32.00. Each of these resistance breakouts accelerated the active minor impulse wave 3. Intel is likely to rise to the next resistance level 34.00 (previous monthly low from December).
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Mike Lancy

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HYMARKETS Stocks Report: Microsoft Corp
• Microsoft rising inside impulse waves 5 and (3)
• Likely to rise to 55.00

Microsoft has been rising in the last few trading sessions – breaking through the resistance level 52.60, which was set in our previous forecast as the likely target for the upward movement of this company. The price earlier corrected down from the strong resistance level 55.00 (high of the previous (B)-wave) to the support zone lying between the support level 53.00 and the 38.2% Fibonacci correction of the previous upward impulse from February – from where Microsoft immediately reversed up. The price is likely to rise in the active impulse waves 5 and (3) toward the aforementioned resistance level 55.00.

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Mike Lancy

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HYMARKETS Stocks Report: Amazon.com, Inc.
• Amazon approached resistance level 583.00
• Likely to rise to 600.00

Amazon recently reversed up from the support area lying between the support level 550.00 and the 38.2% Fibonacci correction of the previous sharp intermediate impulse wave (1) from the middle of February. The upward reversal from this support area completed the previous intermediate ABC correction (2), which belongs to the primary Ⓒ-wave from last month. Amazon recently closed near the resistance level 583.00 (top of the previous waves (1) and B). If the price breaks above 583.00 – Amazon can then rise to the next resistance level 600.00.

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Mike Lancy

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HYMARKETS Stocks Report: Facebook, Inc.
• Facebook reached resistance level 115.00
• Likely to rise to 120.00

Facebook yesterday closed above the strong resistance level 115.00 (which reversed the price with the daily Japanese candlesticks reversal pattern Evening Star Doji in February and which was set as the likely upward target in our previous forecast for this company). The breakout of this resistance level is likely to accelerate the active impulse waves 3, (3) – which belong to the primary impulse wave ③ from last year. Facebook is likely to rise to the next round resistance level 120.00. Buy stop-loss can be placed below the recently broken price level 115.00.

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Mike Lancy

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HYMARKETS Stocks Report: Microsoft Corp.
• Microsoft reached resistance level 55.00
• Likely to rise to 56.70

Microsoft yesterday closed above the resistance level 55.00, which was set in our previous forecast as the likely target for the upward movement of this company. The price previously rose with the upward gap inside the minor impulse wave 3 which belongs to the intermediate impulse (3) of the primary upward impulse ③ from February. Given the rising daily Momentum – Microsoft can be expected to rise further in the active impulse waves 3, (3) and ③ toward the next strong resistance level 56.70 (which reversed the price twice in December).

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Mike Lancy

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HYMARKETS Stocks Report: Coca-Cola Co/The

• Coca-Cola broke resistance levels 45.50 and 46.00
• Likely to rise to 47.00 and 48.00

Coca-Cola recently rose sharply – breaking through the resistance level 45.50, which was set in our pervious forecast as the likely target for the upward movement of this company. The breakout of this resistance level accelerated the active minor impulse waves (iii) and 3 (which belong to the intermediate impulse wave (3) from January, which earlier broke the major long-term resistance level 45.00) – leading to the latest breakout of the resistance level 46.00. Coca-Cola is likely to rise to the next resistance levels 47.00 and 48.00.

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Mike Lancy

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HYMARKETS Stocks Report: Bank of America Corp.
• Bank of America falling inside primary impulse wave ③
• Likely to fall to 12.00

Bank of America has been falling in the last few trading sessions inside the intermediate impulse wave (3) of the primary impulse wave ③ – which started previously – when the pair reversed down from the resistance zone lying between the resistance level 14.00, upper daily Bollinger Band and the 38.2% Fibonacci correction of the previous sharp downward impulse from November of 2015. The price closed yesterday near the support level 12.70 (former high of wave (A) from February). If the price breaks below 12.70 – Bank of America can then fall to the next support level 12.00.

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Mike Lancy

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HYMARKETS Stocks Report: Facebook, Inc.
• Facebook falling inside minor correction ii
• Likely to fall to 105.00

Facebook recently reversed down from the pivotal resistance level 116.30 (which also previously reversed the price sharply with the daily Evening Start in February, as can be seen below). The downward reversal from the resistance level 116.30 created the daily Japanese candlesticks reversal pattern Dark Cloud Cover – which started the active minor correction ii. Facebook closed last session near the support level 110.00. If the price breaks below 110.00 – Facebook can then fall to the next support level 105.00 (low of the previous wave (b) from March).

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Mike Lancy

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EUR/USD
The EUR/USD pair corrected lower by the end of the last week, although the American dollar retains its long term negative tone against all of its major rivals. During this past week, commodity currencies were the biggest winners, fueled by improved market sentiment, as Chinese latest data was overall positive, with industrial production rising the most in almost a year. Industrial output rose 6.8% in March compared to a year earlier, while retail sales also beat market´s expectations, printing at 10.5%y/y in March versus 10.4% median forecast. Finally, China’s GDP for the first quarter printed at 6.7%y/y, matching forecast, but down from 6.8% in the December quarter.On Friday, poor US data put a halt to dollar's advance, as it happened several times over these last few days. US industrial production fell 0.6% in March, compared to February, whilst the University of Michigan index of consumer sentiment for April fell to 89.7 compared to an expected 91.9. The EUR/USD par closed the week at 1.1282 after failing to surpass a major static resistance level, the 1.4160 region, tested at the beginning of the week. On Friday, the price was contained by 1.1315, the 23.6% retracement of the latest daily bullish run between 1.0821, March 3rd low, and the high posted at 1.1461 this April. The weekly decline stalled short from the 38.2% retracement of the same rally, at 1.1220, the level to break to confirm a steeper decline this week. In the meantime, the daily chart presents a limited bearish tone, as the price stands below a bullish 20 SMA whilst the technical indicators have crossed their midlines towards the downside, but lost bearish strength within neutral territory, indicating limited scope for additional declines. In the shorter term, the 4 hours chart maintains a negative tone, as the price remains capped by a bearish 20 SMA whilst the technical indicators have lost upward steam after bouncing from their midlines, and the RSI already turned south, increasing the risk of a new leg south.

Support levels:1.1235 1.1200 1.1160

Resistance levels: 1.13001.1335 1.1380

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Mike Lancy

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HYMARKETS Stocks Report: The Goldman Sachs Group, Inc
• Goldman Sachs reversed from resistance zone
• Likely to fall to 155.00

Goldman Sachs recently reversed down from the resistance zone surrounding the resistance level 161.80, which has been repeatedly reversing the price from the end of January (as can be seen from the daily Goldman Sachs chart below). This resistance zone was further strengthened by the upper daily Bollinger Band and by the 38.2% Fibonacci correction of the previous sharp intermediate impulse wave (1) from November of 2015. Given the strength of the resistance zone surrounding the resistance level 161.80 - Goldman Sachs can be expected to correct down to the nearby support level 155.00.

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Mike Lancy

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HYMARKETS Stocks Report: Coca-Cola Co/The
• Coca-Cola reversed from support zone
• Likely to rise to 47.00

Coca-Cola recently corrected down from the resistance level 47.00, which was set as the likely upward target in our previous forecast for this instrument. The subsequent downward correction (ii) then stopped in the support zone lying between the support level 46.00 (former resistance level which stopped the earlier impulse wave 3 in March), support trendline of the daily up channel from January and the 38.2% Fibonacci correction of the upward impulse from March. Coca-Cola is likely to re-test to the resistance level 47.00 – the breakout of which can lead to further gains toward 48.00.

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Mike Lancy

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EUR/USD
The American dollar edged higher against most of its major rivals this Wednesday, exception made by commodityrelated currencies, which held on to gains amid oil prices rallying to fresh yearly highs. The US EIA report surprised with a smallerthanexpected increase in stockpiles, whilst distillates fell well beyond expected. The EUR/USD pair started the day with a positive tone, rallying to a fresh weekly high of 1.1387 before turning south in the American afternoon, more due to a continued improvement in risk sentiment than because of dollar's self strength. Data coming from Europe disappointed, whilst the US posted some encouraging housing readings, reversing the latest trend. The German PPI fell 3.1% yearonyear in March, and came in at 0.0% monthly basis compared to February. US Existing Home sales bounced back in March up by 5.1% to a seasonally adjusted annual rate of 5.33 million in March from a downwardly revised 5.07 million in February. Anyway, all eyes are now on the ECB monetary policy meeting this Thursday, in where Mario Draghi is expected to maintain the policy on hold, but with no doubts will offer enough rhetoric to shake the EUR.The latest pullback in EUR/USD´s price has sent the pair below the 23.6% retracement of the latest daily bullish run, and the 4 hours chart shows that the price has broken also below its 20 SMA whilst the technical indicators head sharply lower, and have entered negative territory, suggesting the decline may extend during the upcoming Asian session. The pair has an immediate support in the 1.1270/80 region, followed later by 1.1220, the 38.2% retracement of the mentioned rally. If the pair has a chance to break below this last, will be with Draghi's words, and will probably mean a downward continuation towards the 1.1120/60 price zone.

Support levels:1.1275 1.1220 1.1160

Resistance levels: 1.1350 1.1390 1.1420

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Mike Lancy

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HYMARKETS Stocks Report: Microsoft Corp.
• Microsoft broke daily up channel
• Likely to fall to 49.00

Microsoft recently fell with the sharp downward gap – following the earlier downward reversal from the resistance level 56.70, which was set in our previous forecast as the likely target for the upward movement of this instrument. The downward reversal from the the resistance level 56.70 started the active minor correction (ii) – which then broke the support trendline of the wide daily up channel from August – which should intensify the bearish pressure on Microsoft in the coming trading sessions. Microsoft is likely to fall to the next support level 49.00.

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Mike Lancy

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HYMARKETS Stocks Report: JD.com, Inc.
• JD broke daily up channel
• Likely to fall to 24.00

JD recently fell sharply in the minor impulse wave 3 - which started previously when the price reversed down from the resistance zone lying between the round resistance level 30.00, upper daily Bollinger Band, resistance trendline of the wide daily down channel from last June and the 61.8% Fibonacci correction of the previous sharp downward impulse wave 1 from December. Having recently broken the daily up channel from February and the support level 25.70 – JD is likely to fall further in the active impulse wave 3 toward the next support level 24.00.

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Mike Lancy

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HYMARKETS Stocks Report: Google Inc
• Google broke daily up channel
• Likely to fall to 680.00

Google has been falling in the last few trading sessions inside the 4th minor corrective wave 4 – which started previously - when the price reversed down from the pivotal resistance level 775.00, which stopped the previous impulse waves (iii), 3 and (3) – as can be seen from the daily Google chart below. The active impulse wave 4 earlier broke the support trendline of the daily up channel from August – which intensified the bearish pressure on this instrument. Google is likely to fall to the next support level 680.00 (50% Fibonacci correction of the upward impulse from August).

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Mike Lancy

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HYMARKETS Forex Report: EUR/USD

• EUR/USD approaching resistance level 1.1500
• Likely to rise to 1.1600

EUR/USD continues to rise inside the minor impulse wave 3, which belongs to the intermediate impulse wave (3) from the start of March. The active impulse wave 3 started earlier - when the pair reversed up from the support zone lying between the support level 1.1230 (which stopped the (a)-wave of the previous minor ABC correction 2 from April) and the 38.2% Fibonacci correction of the previous sharp impulse wave 1. The price is currently approaching the resistance level 1.1500 (previous upward target set for this pair). If the price breaks above 1.1500 - EUR/USD can then rise to the next major resistance level 1.1600.

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