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FX.co ★ Stock market trading on January 31, 2021

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Forex Analysis:::2022-01-31T05:07:44

Stock market trading on January 31, 2021

Purchasing Coca-Cola shares (#KO), the largest manufacturer of beverages and concentrates.

On the weekly chart, the lower shadow of the weekly candlestick attempted to touch the 110.0% Fibonacci level. Then, the price instantly reversed up. The Marlin oscillator still has room to grow and enter the overbought zone. The target is seen at the 161.8% Fibonacci level (63.38).

 Stock market trading on January 31, 2021

On the daily chart, the signal line of the Marlin oscillator crossed the border with the uptrend, while the daily candlestick was moving up. This is a good signal for the extension of the uptrend.

 Stock market trading on January 31, 2021

Selling Caterpillar (#CAT) shares, an American manufacturer of construction equipment.

 Stock market trading on January 31, 2021

On the weekly chart, after a false breakout above the Krusenstern line (gray oval), the price went down. The Marlin oscillator crossed the border with the downtrend. There are no significant barriers for the price to fall. The first target is at 173.17, the top of January 2018. Another target is seen at the level of 150.50, the high of December 2019.

 Stock market trading on January 31, 2021

On the daily chart, the price went below the Krusenstern line and consolidated there. The downward movement is likely to extend.

Analyst InstaForex
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