Market analysis from Saxo

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Delivery Hero Short Term We look to Buy at 36.58 (stop at 33.74) We look to buy dips. We have a 61.8% Fibonacci pullback level of 36.59 from 23.88 to 57.16. There is scope for mild selling at the open but losses should be limited. We can see no technical reason for a change of trend. Our profit targets will be 42.58 and 46.56 Resistance: 46.60 / 53.59 /...

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Barclays Short Term We look to Sell at 171.28 (stop at 176.42) Previous resistance located at 170.00. Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. We look for a temporary move lower. We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower. Our profit...

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Litecoin Intraday We look to Buy at 57.41 (stop at 56.19) Previous resistance level of 57.50 broken. We look for a temporary move lower. We look to buy dips. Our profit targets will be 60.39 and 60.99 Resistance: 60.00 / 61.00 / 62.00 Support: 59.00 / 57.50 / 56.00 Disclaimer – Saxo Bank Group. Please be reminded – you alone are responsible for your...

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Bitcoin Intraday We look to Buy at 19601 (stop at 19248) Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end. 19500 has been pivotal. 19500 continues to hold back the bears. We look to buy dips. Our profit targets will be 20444 and 20844 Resistance: 20500 / 21000 / 21500 Support:...

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Ageas Short Term We look to Buy a break of 40.97 (stop at 39.99) Previous support located at 40.00. 40.00 has been pivotal. Although the bears are in control, the stalling negative momentum indicates a turnaround is possible. We look for a temporary move higher. Our profit targets will be 42.96 and 44.30 Resistance: 43.00 / 44.60 / 46.00 Support: 40.00...

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AB Inbev Short Term We look to Buy at 47.28 (stop at 46.18) Previous support located at 47.10. Price action has posted a Doji candle and confirms a possible stall in the recent move. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher. Expect trading to remain mixed and volatile. Our profit targets will be...

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Ethereum Intraday We look to Sell at 1608 (stop at 1631) Our short term bias remains negative. Selling continued from the 61.8% pullback level of 1607.04. There is scope for mild buying at the open but gains should be limited. We look for a temporary move higher. Preferred trade is to sell into rallies. Bearish divergence is expected to cap gains. Our...

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Tesla Short Term We look to Sell at 282.85 (stop at 294.03) Previous support level of 280.00 broken. Posted a Double Top formation. The bias remains mildly bearish but there is scope for a move in either direction at the open. Further downside is expected although we prefer to sell into rallies close to the 282.00 level. Our profit targets will be 249.72...

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CrowdStrike Short Term We look to Sell at 189.88 (stop at 203.91) Preferred trade is to sell into rallies. Buying continued from the 61.8% pullback level of 199.22. Posted a Double Top formation. There is scope for mild buying at the open but gains should be limited. Our outlook is bearish. Our profit targets will be 130.20 and 120.15 Resistance: 200.00...

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Bitcoin Intraday We look to Buy a break of 20601 (stop at 20141) We are trading at oversold extremes. A break of yesterdays high would confirm bullish momentum. Dips continue to attract buyers. Our profit targets will be 21777 and 22177 Resistance: 20600 / 21000 / 21800 Support: 20000 / 19500 / 19000 Disclaimer – Saxo Bank Group. Please be reminded –...

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Amazon Short Term We look to Buy at 125.43 (stop at 118.42) Preferred trade is to buy on dips. Short term bias is bullish. 50 1day MA is at 125.00. Further upside is expected although we prefer to set longs at our bespoke support levels at 125.00, resulting in improved risk/reward. Our profit targets will be 144.72 and 157.53 Resistance: 146.00 / 170.00...

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Apple Short Term We look to Buy at 153.98 (stop at 149.64) Preferred trade is to buy on dips. Previous support located at 153.00. The 50% Fibonacci retracement is located at 152.51 from 128.86 to 176.15. The 50 day moving average should provide support at 155.40. Our profit targets will be 163.76 and 176.00 Resistance: 165.00 / 176.00 / 180.00 Support:...

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Ethereum Intraday We look to Sell a break of 1519 (stop at 1561) Our short term bias remains negative. A break of the recent low at 1520 should result in a further move lower. 1527 has been pivotal. We look for losses to be extended today. Our profit targets will be 1421 and 1391 Resistance: 1600 / 1650 / 1700 Support: 1520 / 1440 / 1400 Disclaimer –...

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JD.com Short Term We look to Sell at 67.06 (stop at 69.54) Previous support, now becomes resistance at 66.00. The move higher is mixed and volatile, common in corrective sequences. The bias is still for lower levels and we look for any gains to be limited. Further downside is expected although we prefer to sell into rallies close to the 66.00 level. Our...

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Alphabet Short Term We look to Buy at 106.02 (stop at 102.75) Preferred trade is to buy on dips. Trading within the Channel formation. Previous support located at 106.00. There is ample scope for a move higher from this important support. Our profit targets will be 113.59 and 118.25 Resistance: 119.00 / 125.00 / 142.00 Support: 108.00 / 106.00 /...

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Ethereum - Intraday - We look to Sell at 1676.8 (stop at 1723.8) Broken out of the channel formation to the upside. The medium term bias remains bearish. Selling pressure resulted in the market posting net daily losses. Preferred trade is to sell into rallies. Expect trading to remain mixed and volatile. Our profit targets will be 1533.4 and 1500.00 ...

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PayPal - Short Term - We look to Buy at 89.71 (stop at 84.43) Broken out of the channel formation to the upside. We have a Gap open at 89.63 from 02/08/2022 to 03/08/2022. We have a 38.2% Fibonacci pullback level of 89.84 from 103.03 to 68.51. Preferred trade is to buy on dips. Our profit targets will be 116.91 and 152.00 Resistance: 103.03 / 117.20 /...

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Volkswagen - Short Term - We look to Sell at 145.76 (stop at 152.42) The medium term bias remains bearish. Broken out of the channel formation to the downside. We have a Gap open at 145.76 from 19/08/2022 to 22/08/2022. Preferred trade is to sell into rallies. Our profit targets will be 120.52 and 115.00 Resistance: 145.76 / 151.50 / 160.86 Support: ...