Account
New to ADSS? Open an
account now to get started.
Already have an account?
Add funds to your ADSS account
Account
New to ADSS? Open an
account now to get started.
Add funds to your ADSS account
Asset Watch
Thursday, August 18 2022
With the NASDAQ Composite rallying hard off the June lows, the index has retraced roughly half of its initial 2022 declines. JPMorgan’s Mislav Matejka is expecting further upside after telling clients on Aug. 15 that the decline in long-term interest rates was “one of the big catalysts for the rebound.”
“We think that the tactical rebound in growth style has some more legs, as bond yields are likely to stay stuck,” he said. And while he noted that the call “is only tactical,” he added, “it likely has some further to go, perhaps even until year-end.”
However, while Big Tech has increased its fan base on Wall Street, is Alphabet approaching a make-or-break moment?
Despite the recent upswing, the sharp decline in April (the pole), combined with the recent consolidation (the flag), has formed an ominous bear flag pattern. Furthermore, with Alphabet closing near the top of the range on Aug. 16, the parent company of Google needs to break out, or another sharp pullback could materialise.
Right above the upper trendline of the bear flag pattern is Alphabet’s declining resistance line, drawn from the November 2021 highs. Meaning the advertising giant must overcome two technical hurdles to continue its revival.
Is Alphabet running out of bullish letters, or will JPMorgan’s prediction spell trouble for the bears?
ADSS
8th floor, CI Tower
Corniche Road
PO Box 93894
Abu Dhabi
United Arab Emirates
Trading Services
ts@adss.com
+971 2 657 2414
Investing in CFDs involves a high degree of risk that you will lose your money due to the use of leverage, particularly in fast moving markets, where a relatively small movement in the price can lead to a proportionately larger movement in the value of your investment. This can result in loses that exceed the funds in your account. You should consider whether you understand how CFDs work and you should seek independent advice if necessary.
ADS Securities LLC (“ADSS”) is authorised and regulated by the Securities and Commodities Authority (“SCA”) in the United Arab Emirates as a trading broker for Over the Counter (“OTC”) Derivatives contracts and foreign exchange spot markets. ADSS is a limited liability company incorporated under United Arab Emirates law. The company is registered with the Department of Economic Development of Abu Dhabi (No. 1190047) and has its principal place of business at 8th Floor, CI Tower, Corniche Road, P.O. Box 93894, Abu Dhabi, United Arab Emirates.
The information presented is not directed at residents of any particular country outside the United Arab Emirates and is not intended for distribution to, or use by, any person in any country where the distribution or use is contrary to local law or regulation.
ADSS is an execution only service provider and does not provide advice. ADSS may publish general market commentary from time to time. Where it does, the material published does not constitute advice, or a solicitation, or a recommendation to a transaction in any financial instrument. ADSS accepts no responsibility for any use of the content presented and any consequences of that use. No representation or warranty is given as to the completeness of this information. Anyone acting on the information provided does so at their own risk.
