Buying and selling in the stock market on August 2

Purchase of Alcoa Corporation shares (#AA). Aluminum production company.

On the daily chart, the price consolidated above the MACD indicator line and went above the Fibonacci reaction level of 314.0%. The Marlin Oscillator is clearly growing in the positive trend zone. The target of the continued growth is the Fibonacci reaction level of 361.8% at the price of 44.61.

Sale of Zynga shares (#ZNGA). American video game developer.

On the weekly chart, the price breaks below the indicator line of the balance, shifting the market's interest in selling.

The Marlin Oscillator has already consolidated in the negative zone. Historical supports/resistances near the Fibonacci levels are the targets. The first target at 9.34 is the January low near the Fibonacci level of 110.0%, the second target at 8.59 is the low on June 5, 2020 near the Fibonacci level of 138.2%.

On the daily chart, the price consolidated below the balance and MACD indicator lines, as well as below the 76.4% Fibonacci level. The Marlin Oscillator is declining in the downward trend zone.

The material has been provided by InstaForex Company - www.instaforex.com

from RobotFX