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HFMarkets (hfm.com): Market analysis services.
HFblogNews replied to HFblogNews's topic in Technical Analysis
Date: 25th April 2024. Investors Monitor a Potential Japanese Intervention, and upcoming Tech Earnings. Meta stocks top earnings expectations, but revenue guidance for the next 6 months triggers significant selloff. Meta stocks decline 15.00% and the Magnificent Seven also trade lower. Japanese Authorities are on watch and most market experts predict the Japanese Federal Government will intervene once again. The Japanese Yen is the day’s worst performing currency while the Australian Dollar continues to top the charts. The US Dollar trades 0.10% lower, but this afternoon’s performance is likely to be dependent on the US GDP. USA100 – Meta Stocks Fall 15% On the Next 6-Months Guidance The NASDAQ has declined 1.51% over the past 24 hours, unable to maintain momentum from Monday and Tuesday. Technical analysts advise the decline is partially simply a break in the bullish momentum and the asset continues to follow a bullish correction pattern. However, if the decline continues throughout the day, the retracement scenario becomes a lesser possibility. In terms of indications and technical analysis, most oscillators, and momentum-based signals point to a downward price movement. The USA100 trades below the 75-Bar EMA, below the VWAP and the RSI hovers above 40.00. All these factors point towards a bearish trend. The bearish signals are also likely to strengthen if the price declines below $17,295.11. The stock which is experiencing considerably large volatility is Meta which has fallen more than 15.00%. The past quarter’s earnings beat expectations and according to economists, remain stable and strong. Earnings Per Share beat expectations by 8.10% and revenue was as expected. However, company expenses significantly rose in the past quarter and the guidance for the second half of the year is lower than previous expectations. These two factors have caused investors to consider selling their shares and cashing in their profits. Meta’s decline is one of the main causes for the USA100’s bearish trend. CFRA Senior Analyst, Angelo Zino, advises the selloff may be a slight over reaction based on earnings data. If Meta stocks rise again, investors can start to evaluate a possible upward correction. However, a concern for investors is that more and more companies are indicating caution for the second half of the year. The price movements will largely now depend on Microsoft and Alphabet earnings tonight after market close. Microsoft is the most influential stock for the NASDAQ and Alphabet is the third. The two make up 14.25% of the overall index. If the two companies also witness their stocks decline after the earnings reports, the USA100 may struggle to gain upward momentum. EURJPY – Will Japan Intervene Again? In the currency market, the Japanese Yen remains within the spotlight as investors believe the Japanese Federal Government is likely to again intervene. The Federal Government has previously intervened in the past 12 months which caused a sharp rise in the Yen before again declining. The government opted for this option in an attempt to hinder a further decline. Volatility within the Japanese Yen will also depend on today’s US GDP reading and tomorrow’s Core PCE Price Index. However, investors will more importantly pay close attention to the Bank of Japan’s monetary policy. Investors will be keen to see if the central bank believes it is appropriate to again hike in 2024 as well as comment regarding inflation and the economy. In terms of technical analysis, breakout levels can be considered as areas where the exchange rate may retrace or correct. Breakout levels can be seen at 166.656 and 166.333. However, the only indicators pointing to a decline are the RSI and similar oscillators which advise the price is at risk of being “overbought”. 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. - Yesterday
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$ALVR AlloVir stock bottom breakout watch, huge upside gap, https://stockconsultant.com/?ALVR
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$DIS Disney stock attempting to move higher off the 112.79 triple support area, https://stockconsultant.com/?DIS
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$ADCT Adc Therapeutics stock flat top breakout watch above 5.31, https://stockconsultant.com/?ADCT
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$CXAI CXApp stock local support and resistance areas at 2.78, 3.52 and 5.19, https://stockconsultant.com/?CXAI
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$XYL Xylem stock flat top breakout, https://stockconsultant.com/?XYL
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$MRO Marathon Oil stock attempting to move higher off the 27.49 support area, https://stockconsultant.com/?MRO
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$FSLY Fastly stock, good start off 12.42 lower triple support area, https://stockconsultant.com/?FSLY
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$ALDX Aldeyra Therapeutics stock back to 4.03 support area with bullish stats, https://stockconsultant.com/?ALDX
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HFMarkets (hfm.com): Market analysis services.
HFblogNews replied to HFblogNews's topic in Technical Analysis
Date: 24th April 2024. Market News – Stock markets strengthen as tech rally widens. Economic Indicators & Central Banks: The bulls are back in town for now. Wall Street climbed, led by tech and especially the Magnificent 7 — all cohorts rallied, even Tesla which broke a 7-session losing streak even as its earnings news was awaited. US: The weaker than expected PMI data from S&P Global was the excuse needed to underpin a short covering rally in Treasuries after the big selloff in April. Record US Auction boosted demand! A well bid 2-year sale also added to the gains in Treasuries, while signs of future price pressures saw the long end underperform. Demand petered out into the finish, however, especially with the surge on Wall Street, and yields edged off their lows. Australia: The hot inflation print pointed to sticky local price pressures and reinforced the case for the RBA to hold rates at a 12-year high. The CPI rose to 3.6% y/y VS 3.5% estimate, while core CPI rose 4%, also higher than forecast and well above the RBA’s 2-3% target. Japan: Strong warning for intervention by officials. The BoJ is widely expected on Friday to leave policy settings & bond purchase amounts unchanged. NEW YORK (AP) — The Biden administration has finalized a new rule set to make millions more salaried workers eligible for overtime pay in the US. Financial Markets Performance: The USDIndex slumped, falling to 105.39 largely on profit taking and as haven demand faded. USDJPY flirts with 155 after FM Suzuki issued the strongest warning to date on the chance of intervention, saying last week’s meeting with US and South Korean counterparts had laid the groundwork for Tokyo to act against excessive Yen moves. AUDUSD up for a 3rd day in a row, to 0.6528 amid a broadly weaker USD but also a strong Aussie post a hot inflation print. USOIL steady at $83 ahead of sanctions against Iran and shrinking US Inventories. Gold closed slightly lower at $2332, but off yesterday’s $2289 nadir. Market Trends: The NASDAQ increased 1.59%, with the S&P500 up 1.20%, while the Dow rallied 0.69%. Dissipating geopolitical risks also supported. EU stock futures are posting gains, after a largely stronger close across Asia. Nikkei and Hang Seng gained more than 2% amid a strengthening tech rally. Australian shares underperformed. Tesla Inc. (+13.33% after hours) spiked after its statement for the launch of more affordable vehicles despite a sales miss. The stock halted a 7-day plunge, climbing alongside other members of the group. Microsoft Corp., Meta Platforms Inc. and Alphabet Inc. are also due to report earnings this week. Profits for the “Magnificent Seven” group — which also includes Apple Inc., Amazon.com Inc. and Nvidia Corp. — are forecast to rise about 40% in the Q1 a year ago, according to Bloomberg Intelligence data. The group of tech megacaps is crucial to the S&P 500 since the companies carry the heaviest weightings in the benchmark. Visa revenue advanced by 17% as Consumer Card spending increased. 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. Andria Pichidi 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. - Last week
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$TDW Tidewater stock, sweet bounce off the 88.65 support area, https://stockconsultant.com/?TDW
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$SKYW Skywest stock another great day on the breakout, https://stockconsultant.com/?SKYW
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$CVNA Carvana stock great day off 71.27 support area, from Stocks To Watch, https://stockconsultant.com/?CVNA
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$VNOM Viper Energy stock, strong trend back to 39.02 support area, https://stockconsultant.com/?VNOM
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$MODG Topgolf Callaway stock holding at the 15.6 gap support area, up trend, https://stockconsultant.com/?MODG
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$PBYI Puma Biotechnology stock at 5.15 support area, attempting to trend higher, https://stockconsultant.com/?PBYI
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$ROOT stock, two legs back to 52.16 support area with bullish stats, https://stockconsultant.com/?ROOT
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$FSLY Fastly stock, some buying down here at the 12.45 triple support area, https://stockconsultant.com/?FSLY
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HFMarkets (hfm.com): Market analysis services.
HFblogNews replied to HFblogNews's topic in Technical Analysis
Date: 23rd April 2024. European PMIs Paint Mixed Picture, ECB advise a June Cut is Certain. The German DAX recorded its highest monthly increase as investors continue to predict a weaker EU monetary policy. JP Morgan again advised stocks are overcrowded and may see a stronger downward correction. However, economists advise this is only possible if geo-political tension escalates or companies fail to beat earnings predictions. Gold witnesses its strongest decline in 2024 falling 2.64% on Monday and a further 1.32% during this morning’s Asian session. The Euro is the best performing currency after the day’s PMI releases. However, investors should note that the US Dollar during the Asian session was performing significantly better. USA500 – Visa and Tesla Ready Shareholders For Earnings Release! The SNP500 rose 0.87% during the US trading session and also broke the previous swing high. However, JP Morgan again told journalists there are signs that the stock market is “overcrowded”. When institutions are overexposed to certain stocks or industries, it only takes one big fund to start de-levering and then others will follow. Though, investors should note that this would also depend on three factors. The first is earnings, the second is geo-political tensions and the third is inflation. This week, investors will largely watch earnings, particularly Visa and Tesla. Visa and Tesla currently hold a weight of 2.00% and are two of the most influential stocks. Tesla continues to be one of the worst performing stocks, but Visa’s earnings are less certain. Visa has beat earnings and revenue expectations over the past 4 occasions but has been struggling over the past 30 days. Analysts expect earnings and revenue to remain at the same level compared to the previous quarter. However, higher earnings can potentially increase demand. Visa stocks have risen 5.20% in 2024 and have a dividend yield of 0.76%. However, as mentioned above, the performance of the stock market will largely depend also on inflation and geo-political tensions. Though these are not likely to change within the upcoming days. In regard to inflation, investors will be eager to see if inflation again rises, in which case, interest rate cuts will likely not be possible for 2024. If this scenario materialises, stocks can decline between 20-30% ($3,700-$4,220). GER30 – ECB Ready To Cut Rates In June 2024! On a 2-hour timeframe the price of the GER30 is trading above the 75-Bar EMA and above the VWAP. In addition to this, the asset is obtaining buy signals also from oscillators and price action. The index has retraced since the release of the European PMI data, but if the price rises above 18,067, without breaking the day’s low price, buy signals will become active. One of the key drivers, along with this morning’s PMI release for Germany and France, is the latest comments from members of the ECB. According to ECB representative Mr Villeroy, even if oil remains volatile, the regulator will look to cut in June 2024. In addition to Mr Villeroy, Mr De Guindos told journalists that a rate cut in June is “crystal clear”. The guidance given is increasing the demand for the German DAX as are indications of stronger economic data. The French PMI data saw the Services index rise above 50.00 for the first time since May 2023 and beat expectations. However, the manufacturing index continues to struggle and fell compared to the previous month. The German PMI was a similar picture. The Services PMI rose to a 10-month high and beat expectations, but the Manufacturing Index read lower than the 42.8 expectations and is at a 6-month low. 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. -
$DVN Devon Energy stock moving higher off support, https://stockconsultant.com/?DVN
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$COF Capital One stock nice breakout, from Stocks To Watch, https://stockconsultant.com/?COF
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$CVNA Carvana stock back to 70.8 gap support area, high trade quality, https://stockconsultant.com/?CVNA
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$VKTX Viking Therapeutics stock important area, back to 64.34 gap support, https://stockconsultant.com/?VKTX
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$BLBD Blue Bird stock trending, back to 33.89 support area with high trade quality, https://stockconsultant.com/?BLBD
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$OPGN Opgen stock back to strong 0.615 triple support area, https://stockconsultant.com/?OPGN
