Despite the significant and rapid rise in U.S. stock markets, there are still few stocks that offer high-quality yield potential and allow investors to take long positions with reasonably low risk. Technology and financial stocks have performed better in recent days. Although subject to certain conditions, one of our favorite stocks, Uber, looks promising from a technical perspective.
The strong buying wave led to significant overbought conditions in U.S. indices by the end of last week. Since they have reached new all-time highs, the key question will be whether they can remain above the peaks reached two months ago during a potential correction. In the event of a mild pullback, there may be an opportunity to consolidate strength and form trend-confirming technical patterns, while a deeper decline carries the risk that prices will fall back into their previous trading range, which lasted for several months. European stock markets may stall near their previous highs, levels that could provide important guidance for further movement. Given that global equity markets have become heavily overbought, a broader correction appears technically justified and, on the whole, expected.
Over the past week, a trend-like rise has emerged on the stock market, which gained further momentum yesterday. Based on the technical picture, this movement could reach the projected target zones within a few days, which may trigger profit-taking in the short term. MOL: Based on the breakout above 4,062, the move initially pointed toward the 4,375 area, but reaching 4,562 cannot be ruled out. Richter: The stock broke above the 11,875 level last week, with the first technical target emerging around 13,125. Magyar Telekom: Breaking above the 2,125 level opened up upside potential, so the stock’s main trend remained upward. Opus: The 500-forint support level was lost earlier, and no significant change is visible yet in the downward trend that has formed since then. 4iG: Regarding the share price, which has been in a long-term downtrend, the technical structure still shows no signs of a reversal. Although the price has reached the previous breakout level, we must wait for a trend reversal for now.
The downward trend line has been broken, and the index has reached a new high amid a trend-like rise. A breakout above 125,000 could point toward the 150,000 level. The rising trend line can be used for risk management. Until that happens, the trend is likely to remain bullish.
Resistance levels: 143,750; 150,000.
Support levels: 118,750; 112,500; 106,250; 100,000.
There was a significant breakout yesterday, although the stock price had already been trending upward prior to that. Breaking through the 4,062 resistance level opened up room for a move toward the 4,375 area, and the next achievable level is 4,563, which lies above that level. A break in the upward trend line would be required for a decline, but that is not yet the case.
Resistance levels: 4,375; 4,563; 4,750.
Support levels: 4,062; 3,750; 3,438.
The stock managed to break above the resistance level around 11,875 early last week. This opened the way for the stock to move toward the 13,125 level. A trend-like move began, which may have reached the first target price, but aside from slight overbought conditions, no pattern indicating a reversal has yet emerged.
Resistance levels: 11,875; 12,188; 12,500.
Support levels: 10,940; 10,625; 10,313; 10,000; 9,688; 9,065; 8,750.
The stock price broke out of its correction phase early last week. Based on the trend-confirming pattern, the calculated level was around 2,375. It overshot this level slightly, but the momentum did not continue within the same trading day. It became quite overbought, so it’s too late to go long now, but that doesn’t mean it can’t go higher. It’s worth looking for long-entry signals soon. The 2,188 level could become a strong support.
Resistance levels: 2,438; 2,500.
Support levels: 2,188; 2,125; 2,000; 1,875.
The decline has reached the level from which the previous rally began. The level around 1,875 could serve as support and halt the decline, but a break below the red trend line would be required for a more significant shift in the downward trend. Currently, the pattern of lows and highs still points downward, so a change may come later.
Resistance levels: 3,125; 3,750; 4,375; 5,000; 5,625.
Support levels: 1,875; 1,250; 625.
The 500 watermark had already been broken earlier, and after retesting it yesterday, the stock broke below the previous low as well. It has now left a gap to the downside, so there are no signs of a rebound yet. In a steep decline like this, strong oversold conditions and movements or divergences indicating that intraday momentum is waning can trigger an upward reversal. Record trading volume may also signal that the low has been reached.
Resistance levels: 500; 531; 563.
Support levels: 250; 219; 188; 156.
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