Investment Banks Joins the Layoffs and Alzheimer Hopes

Good morning Traders!

Layoffs announcements continued this week with investment banks tightening the belt.
And on the medical frontier, hopes for Alzheimer sufferers.

Goldman Sachs

Goldman Sachs has announced it will layoff 3200 employees, a number which is one of
the biggest for the investment bank, it also has announced cost cutting across multiple
devisions.

The Monthly and Weekly charts are both in a confirmed uptrend, and after consolidating
for several weeks underneath the level of around 354, the market broke through this level
and closed above it, placing the lower timeframes back into an uptrend as well.

Eisai

Eisai is a Japanese drugmaker who this week won an initial approval from the FDA for it
innovative Alzheimer treatment.

Following these news, the stock has gapped up above the level of 8420 and has since
been pulling back, though it hasn’t closed the gap as of yet. The Daily chart is still in a
downtrend, while the Weekly chart is in an uptrend, (as higher timeframe pulls back, lower
timeframes may change direction). I’ll be looking for signs that the sellers has given up
control and buyers are returning, keeping in mind that the previous swing high, which is
also a psychological level of 10,000, could see sellers activity at that level once more.

Happy Trading!

Trading Advice Disclaimer:
Our Ambassador’s Daily Picks are not trading advice. These are informational articles covering the events which happened in the market already & scheduled events which are scheduled to happen in the Economic & Earnings Calendar.

General Risk Warning:
Trading leveraged products such as Forex and CFDs carries a high level of risk thus may not be appropriate and/or suitable for all investors. The investment value can both increase and/or decrease and the investors may lose all their invested capital. The content of this website does not constitute financial or investment advice. Any information herein is of a general nature and does not take into consideration your personal circumstances, investment experience or current financial situation. Under no circumstances shall the Company or affiliated Companies have any liability to any person or entity for any loss or damage in whole or part caused by, resulting from, or relating to any transactions related to leveraged products.

You may also be interested.