EUR/USD 1.15273
-0.192%
Gold 3434.61
0.068%
Oil 71.922
0.672%
USD/JPY 144.411
0.333%
GBP/USD 1.35395
-0.225%
GBP/JPY 195.531
0.107%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
According to Israeli media reports, a new round of missile attacks launched by Iran on Tel Aviv and Haifa in Israel killed seven Israelis and injured more than 132 people.Saudi Aramco CEO: History has proven that when conflicts occur, the importance of oil and gas cannot be underestimated. We are witnessing real-time threats to energy security.Market news: Irans missile attack caused the rupture of an oil pipeline in Tel Aviv, Israel.On June 16, CICC published a report, raising the target price of X.D. Inc. (02400.HK) by 51% to HK$55.5, with an investment rating of "outperforming the industry". CICC said that considering the outstanding overseas performance of "Isher" and "RO", the net profit attributable to the parent company in 2025/26 was raised by 21% to RMB 992 million/1.075 billion. The current share price corresponds to a 2025/26 P/E ratio of 19/17 times.On June 16, CICC published a report, adjusting Chow Tai Fooks (01929.HK) target price by 31% to HK$14.92, with an investment rating of "outperforming the industry". CICC pointed out that looking forward to the 2026 fiscal year, Chow Tai Fooks revenue guidance will achieve a low-to-mid-single-digit annual growth, and the gross profit margin may decrease by about 0.8-1.2 percentage points year-on-year due to the reduced contribution of gold price increases, but under continued cost control, the operating profit margin is expected to decrease by 0.6-1 percentage points year-on-year. Considering the companys continued operational improvement, CICC raised Chow Tai Fooks 2026/27 earnings per share forecast by 9%/9% to HK$0.83/0.91, and the current share price corresponds to 15/14 times the 2026/27 fiscal year price-earnings ratio.

S&P 500 Price Forecast – S&P 500 Continues to Consolidate Just Above Trend Line

Skylar Shaw

Feb 28, 2023 15:50

S&P 500 Technical Analysis

The S&P 500 has rallied a bit during the trading session on Monday, as we are sitting just below a couple of major moving averages in the form of the 50-Day EMA and the 200-Day EMA. They both attract a lot of attention, so it is worth paying attention to the fact that the market does not seem to be in a hurry to get above those moving averages, which of course could be a bit of a head. We are also right around the psychologically important 4000 level, so a lot of traders will be looking to go in both directions at this point. Adding even more volatility to the mix is the fact that we are in the midst of earnings season, and recently there has been a lot of games played with the “zero day to expiration” options market, meaning that people are placing extremely short-term options trades that are kicking the market around.


If we were to break down below the lows Friday, that would show a significant continuation to the downside, perhaps opening up the downside all the way to the 3900 level, possibly even the 3800 level after that. Keep in mind that interest rates continue to rise, therefore putting a little bit of an anchor on the stock market. However, if we do see interest rates are to fall again, and we can break above the moving averages, then it’s possible that we could see the S&P 500 try to reach towards the 4100 level.


That being said, the last couple of weeks have been shaky to say the least, and therefore we could see a continuation of this overall negativity. I think the only thing you can probably count on at this point in time is going to be an extreme amount of volatility, because of this, it’s very possible that we could see more choppiness, instead of less. Make sure you keep your position size reasonable because things could get ugly rather quickly.

Suggestion