Weekly Review | 26 Juli 2019

 FaceBook Weekly Review

Weekly Review

Wave Analysis

During the previous trading week, facebook shares declined steeply and is currently heading to the lowerside. As long as the price remains within the rising shape formation, we expect nothing but a possible momentum to the upperside, as it is on the weekly chart, we expect a decline towards the lower trendline. A bounce from this trendline will mean we're looking for long term buy orders with an ultimate target around 212.50, a breakout above this level will push the price further to the upperside, towards the next level 219.00.

Trade Recommendations:

Expect a decline towards  the supportive trendline.

Apple Weekly Review

Weekly Review

Wave Analysis

For the past few weeks since May this year, the shares of this company has been gaining value, however, in June, apple shares started consolidating within the converging wedge formation. As long as the price remains within this shape formation, we're trading reversals, a break below this this shape will mean we're looking for long term sell orders while a break above the upper trendline will mean we're looking for long term buy orders with an ultimate target at 210.00 and could breakout even higher.

Trade Recommendations:

Wait

Lukoil Weekly Review

Weekly Review

Wave Analysis

The columns of MACD are slowly heading towards the neural level of 0.00, we expect a possible break below 0.00 to mark  a retracement in Lukoil, thus, if you're looking for a trade on this symbol, wait for the columns of MACD to break below 0.00 then rise above 0.00 to pick a long term buy. The anticipated bullish price rally is the continuation of the impulsive wave (V) to the upperside and should breakout above the previous impulsive wave (iii) towards 6000.21 further to the upperside.

Trade Recommendations:

Wait for a bounce from the supportive trendline to pick a low risk buy order.

Bob Stan
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