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12.04.2021 05:42 AM
Buying and selling in the stock market on April 12

Purchase of Mastercard shares (#MA).

On the weekly chart, the price is actively growing after a reversal from the balance indicator line three bars earlier. The Marlin oscillator also turned into growth without reaching its own zero line. The first growth target is the Fibonacci reaction level of 123.6% at the price of 406.36. Further growth is possible to the level of 138.2% at the price of 430.70.

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The price on the daily chart reversed from the balance line already with its development. The Marlin oscillator has penetrated the growth zone. Further increase in the price is expected.

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Sale of Johnson & Johnson shares (#JNJ).

In the first week of March, the price on the weekly chart touched the support of the MACD line (the place is marked with a tick) and grew for the next 4 weeks. Now, the price has turned to attack this indicator line again. The Marlin oscillator is aggressively approaching the border with the territory of the negative trend.

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The first target of the observed downward movement is the MACD line itself at the level of 154.22, and the level itself coincides with the top of December 6, 2020. A decrease in the price under the first target opens the second - the level of the lows of November 25 and September 21, 2020, 143.00. A simple moving average with a period of 200 green color tends to this level, which, in case of a rapid decline in the price, will allow it to overcome the target level and test the strength of the moving average.

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On the daily chart, the price broke under the indicator line of the MACD, the Marlin is attacking the border with the territory of the bears. The price decline is likely to continue.

Laurie Bailey,
Analytical expert of InstaForex
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