Weekly Review | 30 August 2019

Magnit Weekly Review 

Weekly Review

Technical Observation

Few days ago, after breaking below the channel shape above, the shares of this company has been in an active down trendline. Currently the price is around a verified support zone 3517.6. This level has been tested, not once but twice, while the price is contained above this level, we expect  a possible bounce to pick a low risk buy order. But in case the price breaks below it, then the next best place to wait for a possible bounce for a low risk buy is around 3337.5, a break below will push the price even lower.

Trade Recommendations:

Wait for a bounce from 3456.0 to pick a buy.

Gazprom Weekly Review

Weekly Review

Technical Observation

Few days ago, Gazprom rose tremendously but failed to breakout above the weak resistance level marked 255.30. Following this bounce, the shares of this company declined steeply  but could not get to the turncoat support level marked 170.10. This is a key level and while the price is above it, we're waiting for a clear retracement back to it to pick a low risk buy order. As it is on the weekly chart now, I recommended looking for low risk sell orders towards the turn court support level.

Trade Recommendations

Look for sell orders towards 177.90.

FaceBook weekly review

Weekly Review

Technical Observation

On the daily chart attached, we have the following levels to focus on, first , we have a verified support which has been tested twice, 161.35,  we also have  two untested resistance which are 209.25 and 219.75. These are key levels and should price approach any of them, then we'll be looking for a low risk trade. As it is on the daily chart, I recommend looking for sell orders on the shares of this company towards  161.35. A break below this level will push the price further to the lowerside.

Trade Recommendations:

Look for sell orders towards 161.55

Imelda Maseno
Analyst of «FreshForex» company
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