This week, though no macro economic or relevant ads that can change the macro trends are expected events, it will be marked by or financial results "earnings" of the financial sector. Although more than the results themselves, investors will be watching as claimed by banks manage and lead the economy and the market taking into account the proposal from the Fed faster increase in interest rates and the promise of deregulation by Trump.
The Asian market has returned to its usual prices and volumes after the drop happened at the end of the year. We believe that this rise will continue, both in the Asian market and the US, to the takeover of Trump 20 2017 January. The market has shown too many expectations Trump policies and we expect a small downward correction, consolidation and stabilization process when he takes office, takes place.
Another event to consider are the sales data of the "Retail" sector on Friday this week.
In the energy sector we do not expect movements this week grades. Kurdish week begins approximately -2% due to intensified drilling activities in the US last week, increasing global concern that the efforts of the production cuts by the OPEC undermined by US producers. We estimate that oil will remain fluctuating between $ 50 and 55 $ per barrel until they start to see the results of production cuts in late January / early February.
We remain confident in the open position of APA. The stock has shown to remain in the area of its EMA50 (daily chart), exponential average to that usually respond the share price, which indicates that you can bounce upward at any time and break your 52 week high ($ 69 ).
FCX, as discussed in the report above, not only managed to overcome the resistance of $ 14 but positioned in the range of $ 15 with prospects to reach their 52 week high ($ 16.42). We hope that could take advantage of such information. We will have it under observation for a future position, but right now we do not recommend entering because the movement strongly than expected already been done.
As for the metals industry we do not expect big changes this week.
CLF have decided to continue with the open position. The action remains stable above its EMA50 (daily chart) demonstrating a consolidation and price stability. The action continues to have a clear projection upward and we expect a breakout in the range of $ 9 soon.
Gold as discussed in the report This has not shown significant changes. We remain attentive to any new event that could affect you.
In the solar sector FSLR held last week in the range of $ 32 last month - $ 34, being below its EMA50 (daily chart). It remains to be seen if the stock hits a breakout of the same or confirmed in 34 $ a solid strength and continues its bearish trend. We will have it under observation.
TSLA although the action broke the resistance of $ 220 and technically has a breakout, we estimate that our fundamental value analysis still downward. $ 230 / 235 is set as new resistance range, from May 2016 can not break that ceiling, we believe that this will be the turning point and change in trend, if it breaks that value upwards will take action and close the position.
The technology sector was positively impacted by the technology fair "CES" held last week in Las Vegas, where the latest news from industry giants are present.
We are struck by the breakout of FB last week, he broke up its MA200 and EMA50 (daily chart) and faces the resistance range $ 124- $ 125 that can not break from November 2016, if it did, can easily within 52 week high ($ 133.88). We will keep you update.
AAPL continue to see downside potential, $ 119- $ 120 is a very strong resistance that neither we arrive. Our fundamental analysis of stocks shows no reason to hold a breakout. We believe that a correction to the range of $ 112- $ 110 is more than likely.
As for BABA, as we said in our report above, he presented an excellent rebound, not only broke the critical point upward of $ 90 we discussed but also broke his EMA50 (daily chart) to the range of $ 94. This extremely positive movement may have a small downward correction, although estimates that in the course of the following weeks 2 reach the range of $ 98- $ 100.
TWTR had an excellent performance last week confirming $ 16 as a strong support and breaking upwards $ 17. We expect resistance near $ 17.50 that is where you are MA200 (daily chart), a breakout in that range would mean that the action easily reach our target price.
BIDU has received today (09 / 01 / 2017) upgrade by JPMorgan being $ 190 the new Price Target. We believe without a doubt that this action will help to continue the upward trend that began last week with the breakout of its MA200 (daily chart). We'll keep her under observation.
In the pharmaceutical sector we will continue to monitor ICPT, MED, CELG, HUM and EW.
CMG, another of our successes of report last week, recovered nothing more and nothing less than $ 23 about the $ 372- $ 375 to $ 398- $ 399 during the week. We hope that could leverage our information. Once this price will keep it under observation because it can make a breakout in their resistance of $ 400 or bounce down to make a correction or change of trend. We will keep you update.
Finally we are very aware of how earnings develop the financial sector to develop possible strategies. Surely we not recommend'll play this week not to enter into positions influenced by high volatility presented in the earnings of a stock and / or sector.
Our team of traders are constantly monitoring the market, preparing for the next recommendation.
Actions we are watching closely: APA, CLF, FCX, BABA, BIDU, FB, TWTR upward; FSLR, AAPL, potentially TSLA down. We will keep you abreast of any relevant information that affects our watch list or open positions during the week.