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- 1 Q2 earnings results fuels buyers appetite.
- 2 Analysts give positive ratings; bearish moves are anticipated.
TradeWeb Markets Inc. (TW stock) stock is bullish. The price entered the bull territory, gaining momentum in the past sessions. Recently, the stock broke out and surpassed the neckline of $80, heading toward the round mark of $100, which trapped sellers and gave signs of short covering moves. Moreover, the charts showed an inverted head and shoulder pattern, which gave a strong conviction of a significant upmove in the following sessions. Furthermore, TW stock has corrected and revamped from the support zone of $50, showing a trend reversal on the charts.
TW stock price action shows buyers are gaining traction, and fresh long buildup activity was witnessed on the charts. TW stock’s Q2 earnings results were above the estimates. Analysts upgraded the ratings from neutral to buy and revised their targets from $85 to $100, giving an advantage to bulls, and the price reacted with a sharp upward move.
At press time, TW stock price is trading at $85.41 with an intraday gain of 0.64%, showing bullishness on the charts. Moreover, the trading volume increased by 1.89% to 934,877K, and the market cap of TW stock is $20.042 Billion. Furthermore, the stock trades above the significant moving averages, showing bullishness on the charts.
Tradeweb Markets, Inc. operates electronic marketplaces to trade products across the rates, credit, money markets, and equities asset classes. It also provides related pre-trade pricing and post-trade processing services.
Its network comprises clients across the institutional, wholesale, and retail client sectors, including global asset managers, hedge funds, insurance companies, central banks, banks and dealers, proprietary trading firms, retail brokerage and financial advisory firms, and regional dealers.
TW Stock Fib Retracement on Daily Charts
TW stock price has surpassed the 61.8% Fib cluster and is heading toward the 78.6% zone toward $90. Moreover, the stock is in an uptrend, and further follow-on buying could be anticipated in the subsequent sessions.
However, the stock continued to make higher highs in the past session, while the sellers are waiting for a corrective move and trying to counter the momentum.
The RSI curve remains in the overbought zone showing a bullish divergence, suggesting a positive outlook.
The MACD shows the signal line converging with the MA line, indicating a halt intraday. However, the trend is strong, and a follow-on buying move leads to a climb toward $90 in the following sessions.
Conclusion
TW stock price is in a strong uptrend and continued to climb the stairs of bullishness for the past sessions. Furthermore, the trend suggests that this bull wave will continue toward the upper trajectory of $90, followed by $100 for the subsequent sessions.
Technical Levels:
Support Levels: $80 and $75
Resistance Levels: $90 and $100
Disclaimer
The views and opinions stated by the author or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
