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DJ30: Bears plunge
2023-05-03
747
Fundamental analysis:
The Dow Jones Index closed down 367.24 points, or 1.08%, at 33,684.46 points on May 2 (Tuesday); the New York Stock Exchange will immediately suspend the stock trading of First Republic Bank and delist 8 securities of First Republic Bank.
Dow Jones DJ30 - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum fell sharply, and the short-term decline quickly reversed at a low level, but the downward trend remained, and the market was shrouded in bearish sentiment. The MACD indicator was hovering around the 0 axis, and the RSI indicator was below the 50 balance line.
Resistance level: 33858 33917
Support level: 33686 33625
Trading strategy: bearish below 33786, target 33686 33625
Alternative strategy: call above 33786, target 33858 33917
The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.
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