Market Analysis 09/24/24

SPDR S&P 500 ETF Trust (SPY)

Index – USA

Edging higher in premarket activity, ahead of home price index data release for July and the US treasury buyback announcement later in the day. 570 will be a key level today as it will become support or back to resistance. Currently above 570 premarket.

• STOCK – ATR: 7.15
• STOCK – RSI daily: 62.72
• STOCK – Resistance: 571, 527, 572.88
• STOCK – Support: 570, 569.60, 569

Banzai International (BNZI)

Software – Washington USA

Entered debt write-off & restructuring agreement. Recent gap up off the lows plus low float so volatility will be high.

• STOCK – ATR: 1.01
• STOCK – In Play Catalyst: Positive News
• STOCK – RSI daily: 46.32
• STOCK – Resistance: 6.75, 7, 7.25
• STOCK – Support: 6.20, 6, 5.7

Bitcoin (/BTC)

Cryptocurrency – N/A

A bit more consolidation under 64000.

• STOCK – ATR: 2751.91
• STOCK – RSI daily: 59.08
• STOCK – Resistance: 64000
• STOCK – Support: 63500

Xpeng Inc (XPEV)

Consumer Discretionary

China’s central bank announced plans to slash banks’ reserve requirement ratio (RRR) by 50 basis points or half a percentage point. A lot fo Chinese stocks are seeing an upward trend after this news.

• STOCK – ATR: 0.50
• STOCK – In Play Catalyst: Industry Trending
• STOCK – RSI daily: 69.07
• STOCK – Resistance: 10.4, 10.47
• STOCK – Support: 10.20, 10, 9.8