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17.05.202107:09 Forex Analysis & Reviews: Buying and Selling in the Stock Market on May 17

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Purchase of Cisco Systems shares (#CSCO). An information technology and networking company.

On the weekly chart, the quote is growing above the 123.6% Fibonacci level, the Marlin oscillator is in the zone of positive values. There is a prospect of growth to the 2019 high of 58.23, in the area of which the 161.8% Fibonacci level is located.

Exchange Rates 17.05.2021 analysis

On the daily chart, the price went above the MACD indicator line simultaneously with the Marlin oscillator into the zone of positive values. There is a signal for continued growth.

Exchange Rates 17.05.2021 analysis

Sale of Mastercard shares (#MA). Transnational financial corporation, payment system.

Exchange Rates 17.05.2021 analysis

On the weekly chart, the price approached the lower edge of the wedge after the upper shadow was falsely broken three weeks ago. A false exit of the price above the upper border means an increased probability of breaking the lower border. Also, the Marlin oscillator has infiltrated the zone of bears. The target of the decline is the low of October 2020 at 281.09.

Exchange Rates 17.05.2021 analysis

On the daily chart, the price has already touched the lower border of the wedge, now the moment has come to decisively overcome it. Marlin is in a declining trend.

Laurie Bailey
Analytical expert of InstaForex
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