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FX.co ★ Buying and selling in the stock market on August 16

Buying and selling in the stock market on August 16

Purchase of Gilead Sciences, Inc. shares (#GILD). American biopharmaceutical company.

On the weekly chart, the price exited the rising wedge upward. The Marlin Oscillator is turning up and, visually, intends to get out of the prolonged sideways consolidation formed in the zone of the growing trend.

Buying and selling in the stock market on August 16

We define growth targets by Fibonacci levels: 138.2% at 74.18, 161.8% at 77.18.

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Buying and selling in the stock market on August 16

On the daily chart, the price consolidated above the upper wedge line and above the 110.0% Fibonacci level. The Marlin Oscillator is growing. We look forward to continued growth.

Sale of Intel shares (#INTC).

Buying and selling in the stock market on August 16

On the weekly chart, the price has consolidated below the indicator line of balance, and the Marlin oscillator has already penetrated deeply into the zone of the downward trend. A further medium-term decline in these shares can be expected.

The first target of 49.70 is the top of September 2018, while the second target of 43.70 is the low of October 2020, March 2020, and December 2018.

Buying and selling in the stock market on August 16

On the daily chart, the price breaks through with lower shadows under the MACD indicator line. The Marlin Oscillator has outlined a downward reversal on the way to the border with the growth territory. The trend is downward.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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