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  1. Last week
  2. SMMT Summit Therapeutics stock watch for breakout at https://stockconsultant.com/?SMMT
  3. MRO Marathon Oil stock trending higher, watch for a top of range breakout at https://stockconsultant.com/?MRO
  4. Date: 19th July 2024. Global Stocks Tumble as Risk Appetite Plummets! US ECONOMY The NASDAQ declines for a third straight day and fell to its lowest level for July. Netflix Quarterly Earnings Report unable to support US indices. The Dow Jones loses momentum after 6 straight bullish days. The US Dollar Index attempts to regain losses from earlier in the week and trades 0.65% higher than yesterdays The British Pound comes under pressure from the decline in Retail Sales. However, the New Zealand Dollar continues to be the worst performing currency. GBPUSD The British Pound against the US Dollar is losing momentum for two reasons. The first is that the exchange rate is largely being driven by the Dollar which has risen in value across the board. The US Dollar Index is attempting to regain loses from earlier in the week and trades 0.65% higher than yesterdays open. This is partially due to the lower price but also the lower investor sentiment as stocks falls over the past 3 trading days. The second reason is the poor economic data from the UK which is likely to pressure the Bank of England to adjust interest rates at the next meeting. According to economists a 25-basis point cut at the next meeting is not yet certain. However, a cut will take place either on the 1st of August or September 19th unless something drastic changes. The poor data includes the number of new unemployed individuals which has considerably risen over the past 2 months. This morning, the UK government also confirmed Retail Sales has fallen 1.2% which is double the decline previously expected. For the US, weekly employment data was released yesterday: the number of Unemployment claims rose by 243,000, exceeding both the forecast of 229,000 and the previous figure of 223,000. Additionally, the total number of citizens receiving government assistance increased from 1.847 million to 1.867 million, raising the likelihood of interest rate adjustments in September. According to most analysts, the rate cut for September is fully priced in at around 103.20 for as long as other central banks also adjust. The US Federal Reserve’s Beige Book, published this week, indicates that economic activity is growing at a moderate pace, but businesses expect a slowdown over the next six months due to the US election campaign and consumers struggling with prices. However, the lower risk appetite is triggering higher demand for the Dollar over the past 48 hours. It’s vital investors continue to monitor the US Dollar Index while analysing the GBPUSD. The price of the exchange is now trading below the 75-Period EMA and below the 50.00 on the RSI. This indicates low sentiment towards the Pound and bearish control for the time being. Fibonacci retracement levels indicate a sell signal will arise at the 1.29290 price whereas the breakout level indicates 1.29261. however, if the price rises above 1.29400 or the trendline, short-term sell signals become unlikely. USA100 The price of the NASDAQ has now fallen for 3 consecutive days but did see less downward momentum compared to Wednesday’s collapse. The index has now fully corrected the gains for the first 2 weeks of the month and is trading close to the previous support level. However, as previously mentioned, due to the higher economic risk, investors will most likely need strong earnings data to be tempted to purchase the discount unless the price becomes even more favourable. The price of Bond Yields has risen during this morning’s Asian session and the VIX is also trading slightly higher. The VIX this week has already added almost 10% which indicates a significant decline in risk appetite. In addition to this, the poor data from the rest of the world’s leading economies can also damage sentiment towards stocks. Currently the biggest indication for short term upward price movement is the lower price and potential upcoming earnings data. Netflix has released their earnings report overnight. The company’s earnings read 2.40% higher than expectations at $4.88 and revenue was 3 million higher than expectations. However, the stock is yet to see any major volatility or support. Currently the stock trades 0.18% lower. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Michalis Efthymiou Market Analyst HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
  5. FOXF Fox Factory stock watch for an upside gap breakout at https://stockconsultant.com/?FOXF
  6. ROKU stock nice rally off the 53 support area, watch for a bottom breakout above 66.51 at https://stockconsultant.com/?ROKU
  7. “1. Never talk about your dreams to anyone. Remember, a fish with its mouth shut avoids the hook. 2. Never get too involved in other people's problems. 3. Don't obsess as if they are your own. You'll forget yourself 4. Never be overly intimate with anyone. And don't get too attached to someone 5. Never ask anyone for borrowed money. Don't lend money either. Money breaks friendships and turns you into a beggar for your debts.” - Human Mind Reader, Quora Profits from free accurate cryptos signals: https://www.predictmag.com/
  8. We have written extensively about what makes Ethereum a great investment, so here’s the quick summary for those who are new to crypto: Ethereum is the second-largest crypto behind bitcoin. This gives it tremendous market power, resiliency, and trust. Ethereum is the #1 smart contract platform in the world. I think of it like an operating system that runs crypto apps: like the Windows or MacOS of crypto. Ethereum has a huge community. More investors -> more developers -> more apps -> more users, and the flywheel keeps turning. This will likely accelerate post-ETF. Ethereum has a huge competitive moat. Because of its leading position, it is unlikely to be toppled from its top spot anytime soon (though many L1 crypto competitors are trying). Ethereum has a track record of innovation. Ethereum keeps pulling off major upgrades (the massive move to Proof of Stake in 2022 was a huge technological feat, as but one example). Ethereum is energy efficient. Since its move to PoS, its energy use dropped by an astonishing 99%. Today Ethereum consumes less than 0.01% of the energy of bitcoin. Ethereum is fully decentralized. Unlike most other crypto investments, no one person controls the network. That is a massive advantage in determining its future legality. Ethereum has an unofficial leader. At the same time, co-founder Vitalik Buterin is one of the most thoughtful and hard-working leaders in crypto, providing wise guidance and inspiration. Ethereum has a vision and a plan. Unlike bitcoin, Ethereum knows what it wants to be when it grows up. Ethereum has been approved by regulators. The SEC has approved an ETF, a huge stamp of approval that should put all worries to bed: ETH is now really and truly 100% legal. When you’ve got a hot tech stock that’s about to IPO, ordinary investors like us can almost never buy the stock before the public offering. That’s reserved for the company founders and big VC funds. I’d argue that we are in a unique situation, where ordinary investors can buy into Ethereum, before it becomes “available” to the general public. It’s a situation very much like the bitcoin and gold ETFs. We don’t know if history will repeat itself. But, as you may have heard, history often rhymes. Timing the Investment Longtime readers know that we’re not big on timing investments. Our approach remains the same: buy and hold quality crypto assets, making monthly investments regardless of price, and hold for five or more years. (Read more on our approach here.) But let’s just say if you’re going to set up such an investment plan, now might be a really good time to do it. And you really, really might want to include Ethereum. Because the Ethereum ETF is coming, and ETH is coming to the masses. You can be there first. Don’t Buy the Fear After many cycles in crypto, I’ve learned two things: You can eliminate most of your fear with “Vitamin DCA.” Buy the hate instead. Instead of trying to time the market, consider dollar cost averaging (DCA). As you probably know… DCA involves investing a fixed amount at regular intervals, regardless of the price. This method helps mitigate the impact of volatility by spreading out your purchases over time. For example, instead of investing $1,200 all at once, you could invest $100 each month. This way, you buy at both highs and lows, averaging out you investment cost. If you’re investing in altcoins, all you do is DCA into Bitcoin or Ethereum (or stablecoins) and then use that to buy altcoins. Not only does DCA simplify your investment strategy, but it also helps manage emotional decisions. Here’s the best part: Many exchanges like Coinbase and Binance offer automatic DCA programs. You can set it up to invest weekly or monthly, making the process hassle-free. That’s step one. If you want to supercharge your DCA strategy: Buy the Hate Instead Buy the stuff that makes people at the dinner party roll their eyes. When you see almost everyone hating on an asset, treating it as dead… It might be time to explore. Hatred is often the most bullish indicator an asset can possibly have. (There are obvious caveats to this.) This, of course, applies outside of crypto. In the 1990s, Apple was a has-been. During the dot-com bust, Amazon was for two-bit idiots. In its early years, Tesla was comical. In the early 2000s, McDonald’s was dysfunctional. During the 2018 crypto bust, Nvidia was an OBVIOUS gutter gamble. The list goes on. The beauty of buying hated assets is you don’t have to buy a lot. If they’re truly hated, they’re massive asymmetrical bets. Buy just enough to forget about it.” – Chris C, AltucherConfidential Profits from free accurate cryptos signals: https://www.predictmag.com/
  9. Date: 18th July 2024. Escalating Tariffs on China Spark a Major Selloff in Tech Stocks! Investors expect the European Central Bank to keep interest rates at 4.25%. US confirms new sanctions against China primarily aimed at semiconductors applying significant pressure on Tech Stocks. The NASDAQ trades more than 4% lower than its recent highs. Investors reduce their involvement in growth stocks as top economists predict a decline in consumer demand. The top 10 most influential stocks for the NASDAQ fell an average of 3.97% on Wednesday. Netflix due to release their earnings report today after market close. USA100 – Tariffs Intensify Against China Triggering A Tech-Stocks Selloff! On Wednesday, the NASDAQ fell a total of 2.82% and is trading 4.25% lower than its recent highs. The reason behind the quick selloff is twofold. At first the NASDAQ saw lower demand as leading bankers and economists signalled weaker consumer demand from the lower income portion of the economy. The second is the United States decision to intensify sanctions on chips being sold to China. As a result, the semiconductor sector took a big hit and had a domino effect on the rest of the technology market. The Semiconductor selloff seen yesterday was the biggest in four years, but investors also should note that at some point a lower price can trigger investors to buy the dip. Though the question remains as to when that is likely to happen. After the market close, in after trading hours, most of the semiconductor sector rose in value, but still remain significantly lower than the open price. Investor willingness to purchase the dip will also depend on earnings data which will start this evening. Netflix is due to release their quarterly earnings report after market close. Analysts expect the company’s earnings per share to rise from $4.54 to $4.76 and for revenue to increase by 25 million. Netflix’s stock fell less than other components during yesterday’s decline which can be perceived as a positive. However, the price action will depend on tonight’s reports. Investors are only likely to enter at the discounted price if earnings data from the most influential companies beat expectations and cool down concern over consumer demand. The most influential day for earnings will be next Tuesday where Microsoft, Alphabet (Google), Tesla and Visa release their reports. Whereas, if earnings are not able to increase demand, the sanctions imposed have the ability to reduce sentiment towards the sector for a prolonged period. Currently, the price of the NASDAQ trades lower than most Moving Averages and lower than the neutral on the RSI. However, the price is retracing upwards. Therefore, investors will monitor whether the price will attempt a correction or decline further. If the price falls below $19,879.33, momentum indicators are likely to signal a decline, whereas above $20,100 will bring the price above the trend line which can indicate an attempted correction to $20,405. EURGBP – UK Adds High Number Of Unemployment Claims! The price of the EURGBP increased in value after the UK’s Claimant Claims rose by 32,300, almost 10,000 more than analysts’ expectations. Over the past two months the UK has added 82,600 more unemployed individuals. As a result, the Bank of England may be more tempted to decrease interest rates at the next meeting but according to analysts this is not yet certain. Nonetheless, the price has increased 0.11% and risen above the 75-Period Moving Average on the 2-hour chart. If the price rises above 0.84145, the exchange rate potentially will maintain a buy signal. This will also depend on today’s ECB Rate Decision and Press Conference. Analysts expect the rate to remain at 4.25% but are hoping for guidance on when the next cut is likely. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Michalis Efthymiou Market Analyst HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
  10. LDOS Leidos stock, nice rally off the 146 triple+ support area, watch for a to of range breakout at https://stockconsultant.com/?LDOS
  11. BOOT Barn stock watch for a narrow range breakout at https://stockconsultant.com/?BOOT
  12. KTRA Kintara Therapeutics stock watch for an ascending triangle breakout, target 0.5 area at https://stockconsultant.com/?KTRA
  13. SNOW Snowflake stock is holding a higher support area; selling has subsided; watch for a downtrend break; high trade quality at https://stockconsultant.com/?SNOW
  14. IREN Iris Energy stock, after a recent stop run, is taking a rest at the 12.18 support area at https://stockconsultant.com/?IREN
  15. WOW WideOpenWest stock watch for a narrow range breakout, target 6.5 area at https://stockconsultant.com/?WOW
  16. Date: 17th July 2024. Gold Hits New All-Time High as Investors Flee the Dollar! Gold reaches an all-time high as investors look to mitigate away from political risk and a potential economic slowdown. UK inflation remains unchanged whereas analysts previously expected a 0.1% decline. Economists contemplate whether the Bank of England will opt to adjust interest rates in August or wait for September’s meeting. All US indices increase in value bar the NASDAQ which fell 0.18%. The SNP500 rises 0.64% and the Dow Jones 1.85%. XAUUSD – Gold Rises To All-Time High! Gold rises to an all-time high after increasing in value by almost 2% on Tuesday. Investors are turning to Gold in an attempt to mitigate political risk, interest rate adjustments and also the possibility of weaker economic growth. Weaker economic growth has been mentioned by leading economists over the past week which is prompting higher gold demand. However, the price of Gold did witness an overbought signal on the RSI for the first time this week at $2,472.85 and soon after fell 0.45%. Here we can see how the RSI assisted traders with determining that Gold may have stretched too far. Currently, as the price retraces lower, the price is no longer overbought and still continues to maintain buy signals on the 2-hour timeframe. Though investors will look for bullish momentum to build before speculating in favor for the trend. For example, if breakout signals can be seen at $2,470.95 and $2,472.70 or Fibonacci retracement signals a buy indication at $2,475.00. A positive factor for Gold is the decline in the US Dollar which currently is trading 0.08% lower this morning. Though, investors would prefer the decline to gain momentum. In addition to this, the pricing of interest rate adjustments is also supporting the value of Gold. According to the CME Exchange, there is a 93% chance of a 25-basis point cut and a 7% chance of a 50-basis point cut for September. A large portion of the demand for Gold in 2024 derives from China and is largely the reason why gold has surged more than 21% so far this year. China will suspend gold supplies, but experts believe the government will continue to import without reporting it. It may indicate an intention to purchase more gold than before, following the trend set by global central banks, which are actively replenishing their reserves. Thus, the National Bank of Poland increased gold volumes by 4.0 tons in June. Additionally, the National Bank of India purchased 9.0 tons, and now the country’s reserves amount to 841.0 tons. Regardless of this, lower interest rates can support Gold and short-term traders will focus on the trend and technical analysis. GBPUSD – UK Inflation Remains Sticky! The price of GBPUSD has increased in value after the UK inflation remained at 2.00% instead of declining to 1.9%. As a result, economists are contemplating whether the Bank of England will opt to adjust interest rates in August or wait for September’s meeting. Previously, investors were leaning more towards a cut in August. Currently investors monitoring price action are evaluating whether the price will rise above the most recent resistance level which has formed a double top. The price of the US Dollar will also be detrimental to the price movement of the exchange. Currently, the US Dollar Index has fallen 0.12% so far this morning. Throughout the day the Building Permits and Industrial Production will influence the price of the US Dollar. The GBP will now turn its attention to the release of the UK’s Claimant Claims Change and Average Earnings Index. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Michalis Efthymiou Market Analyst HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
  17. MGNX Macrogenics stock good start with an upside gap breakout at https://stockconsultant.com/?MGNX
  18. KEX Kirby stock awesome breakout today, big winner at https://stockconsultant.com/?KEX
  19. CDNA Caredx stock big day with a bull flag breakout, from Stocks To Watch at https://stockconsultant.com/?CDNA
  20. GAU Galiano Gold stock trending breakout at https://stockconsultant.com/?GAU
  21. CRWD Crowdstrike stock attempting to move higher off the 373 gap support area at https://stockconsultant.com/?CRWD
  22. APP Applovin stock watch for a range breakout at https://stockconsultant.com/?APP
  23. SBOW SilverBow Resources stock watch for a narrow range breakout above 39.53, target 43 area at https://stockconsultant.com/?SBOW
  24. PAYC Paycom Software stock we got the big move off the 143 triple support area at https://stockconsultant.com/?PAYC
  25. MGNI Magnite stock nice follow through on the breakout, from Stocks to Watch at https://stockconsultant.com/?MGNI
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