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FX.co ★ Buying and Selling in the Stock Market on May 12

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Forex Analysis:::2021-05-12T05:44:22

Buying and Selling in the Stock Market on May 12

Purchase of shares in Petroleo Brasileiro Petrobras (#PBR). The largest Brazilian oil company.

Stock quotes have been growing since the reversal from the Fibonacci level of 76.4% with a synchronous reversal of the Marlin oscillator from the zero line on the daily chart.

Buying and Selling in the Stock Market on May 12

The growth potential is good. The first target is the 200.0% Fibonacci level, which coincides with the high on November 25, 2020 and with the low on February 10 (checkmark) at the price of 10.13. The second target is the 261.8% Fibonacci level at 11.08, which coincides with the high on February 18.

Sale of shares in JPMorgan Chase (#JPM). American financial holding.

Buying and Selling in the Stock Market on May 12

On the weekly chart, a price divergence is forming with the Marlin Oscillator. Significant price extremes coincide with the levels of the Fibonacci grid. The reduction targets are determined by these levels: 23.6% - 146.65, 38.2% - 136.15.

Buying and Selling in the Stock Market on May 12

On the daily chart, the price is falling below the MACD line, Marlin is turning down.

Analyst InstaForex
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