US Focus
Symbol: LECO
US Focus
US Focus
US Focus
US Focus
US Focus
US Focus
US Focus
US Focus
Won Global View
The U.S. market remains in an Uptrend Under Pressure. We will shift the market status back to a Confirmed Uptrend should indices
settle above 21-DMA support or clear to new year-to-date highs. The S&P 500 and Nasdaq rallied sharply from 50-DMA support to reclaim
their respective 21-DMA (4,095/11,995) yesterday. The S&P 500 now faces resistance at 4,169, followed by 4,195. The next level of
resistance on the Nasdaq is 12,227, followed by 12,269. The distribution day count remains at two and four, respectively.
US Focus
US Focus
O’Neil Capital Equipment Sector Weekly
Saab (SAAB.SE): Reported better-than-expected Q1 FY23 results today before market open. Revenue (+25% y/y) beat estimates by 9%, while EPS (+105% y/y) beat estimates by 36%. We recommend that investors add to positions if the stock retakes its 50-DMA on above average volume, which is a secondary entry point. On the downside, it has support at SEK 564.20 (-5.5%).
Won Global View
The U.S. market status has shifted to an Uptrend Under Pressure. The S&P 500 and Nasdaq broke below their respective 21-DMA (4,095/11,993), which will now act as near-term resistance. The next level of support is now the 50-DMA (4,035/11,794). The distribution day count increased to two and four, respectively.
US Focus
US Focus
