Forex News 24

Apple Earnings: AAPL Stock Surges as Q2 Earnings Decline, Top Estimate Apple Earnings: AAPL Stock Surges as Q2 Earnings Decline, Top Estimate
US Dollar Price Action Setups Ahead of FOMC, NFP
5 Biotech Stocks for a Long-Lived Portfolio
Mexico GDP Contracts, Peso Whipsaws Ahead of Fed
EXPOSED: Pot Stocks Making New Millionaires Overnight?
5 Top Stock Trades for Wednesday: AAPL, MCD, SHOP
US Dollar Price Action Setups Ahead of FOMC, NFP
April 30, 2019 : EUR/USD Intraday technical analysis and trade recommendations.
3 Bank Stocks to Buy for Long-Term Portfolios
5 Terrific Tech Stocks That Will Make You Forget About FANG Stocks

Apple Earnings: AAPL Stock Surges as Q2 Earnings Decline, Top Estimate Apple Earnings: AAPL Stock Surges as Q2 Earnings Decline, Top Estimate

Posted: 30 Apr 2019 02:25 PM PDT

Apple (NASDAQ:AAPL) reported its latest quarterly earnings results late today, bringing in a profit that came in ahead of what analysts called for despite falling year-over-year, propelling AAPL stock to increase more than 5% after hours.

Source: Shutterstock

The Cupertino, Calif.-based tech giant announced that for its second quarter of its fiscal 2019, it brought in net income of $11.6 billion, or $2.46 per share. The figure marked a 15.9% decline when compared to its year-ago net income of $13.8 billion, or $2.73 per share.

However, Apple's earnings did top the Wall Street consensus estimate of $2.36 per share, according to data compiled by FactSet on its survey of analysts. The company's revenue tallied up to $58 billion, which marked a decline of 5% when compared to its sales of $61.1 billion when compared to its year-ago quarter.

The revenue did beat the $57.5 billion that Wall Street called for in its consensus estimate, according to a survey of analysts of FactSet. Apple added for the period, it brought in $5.5 billion in Mac revenue, $4.9 billion in services revenue, $5.1 billion in wearables and home revenue, as well as $11.5 billion in services revenue.

The company also announced that its board gave the green light for an additional $75 billion in share repurchases, as well as a 5% increase to its dividend, meaning its new quarterly dividend will be 77 cents per share. The company has ceased to report its iPhone units sales, but iPhone revenue met the Wall Street outlook at $31.1 billion, according to FactSet.

AAPL stock fell about 5.3% after the bell on Tuesday following the company's impressive quarterly earnings showing. Shares had been down about 1.9% during regular trading hours.

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US Dollar Price Action Setups Ahead of FOMC, NFP

Posted: 30 Apr 2019 02:21 PM PDT

Forex Talking Points:

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If you'd like to sign up for our webinars, we host an event on Tuesday and Thursday, each of which can be accessed from the below links:

Tuesday: Tuesday, 1PM ET

Thursday: Thursday 1PM ET

US Dollar: Stage Set for FOMC, NFP

This is one of the more exciting backdrops that we've had around the US Dollar in some time. The currency put in a bullish breakout last week to set a fresh 22-month high. And potential for bullish continuation even looked attractive coming into this morning, but bears have continued to push and prices have put in the makings of a reversal from a false breakout, setting the stage for a fairly exciting three-day-span on the economic calendar.

Tomorrow brings the FOMC, Thursday brings the Bank of England's Super Thursday rate decision, and Friday brings the big one with Non-Farm Payrolls. The big question is whether USD-bulls can get back in the driver's seat after this week's pullback, and I looked into that along with quite a bit more in this price action webinar.

US Dollar Pulls Back to S2 Zone as Bulls Pull Back from the Bid

Perhaps its just some position squaring after last week's breakout, but bulls have continued to step back from the bid so far in this week's trade. The first support zone followed in DXY helped to hold yesterday's low, and the 's2' zone has come into play to help mark today's low. But, as looked at on shorter-term charts, sellers have continued to push and it looks as though there may be a continued pullback ahead of tomorrow's FOMC rate decision.

This highlights support potential around the 97.20-97.30 area on the charts. A bit deeper offers another zone of potential around 96.75-97.90.

US Dollar Four-Hour Price Chart

Chart prepared by James Stanley

EUR/USD Tests Key 1.1212 Level

This is a big item of interest across FX markets at the moment, as EUR/USD has also pulled back from last week's breakout. The primary difference is one of context, as EUR/USD is testing resistance around the prior area of support. A hold of resistance here, with a daily close inside of the Fibonacci level at 1.1212 can keep the door open for short-side continuation strategies. There are another two areas of resistance potential above, although the bearish trend theme wouldn't be as attractive; but those exist around 1.1250-1.1262 and the area around 1.1325.

EUR/USD Four-Hour Price Chart

Chart prepared by James Stanley

GBP/USD Bulls Make Their Mark

Similarly, last week's bearish breakout in GBP/USD has come into question, and the big difference from EUR/USD above is the fact that buyers have continued to push beyond resistance potential at that prior area of support. This can make the pair a bit more attractive for short-USD thesis, and traders looking to institute bearish strategies should be a bit more cautious given the aggressiveness with which buyers have been pushing so far today. But – there is resistance potential at prior areas of interest around 1.3087-1.3117 and 1.3181-1.3187. A bullish break back-above 1.3200 puts the bearish theme into question.

GBP/USD Four-Hour Price Chart

Chart prepared by James Stanley

USDCAD Continued Reversal Potential

On the short side of the US Dollar, USD/CAD remains compelling. The pair posted up to resistance last week around the 1.3500 handle, and that's since come into help hold the highs. The complication at this point would be chasing the move lower after bearish price action has begun to build. In the webinar, I look at how traders could play short-term pullbacks to re-open the door for bearish setups.

USDCAD Four-Hour Price Chart

Chart prepared by James Stanley

USD/CHF: Time to Flip?

I had looked at the short-side of USD/CHF coming into this week, trying to catch a reversal off of two-year-highs. But, as we were looking at this in the webinar, I started to ponder an early exit, which is abnormal for me. The issue here is that the US Dollar has put an impressive pullback. But USD/CHF is just blinking while remaining near resistance, highlighting a really weak Swiss Franc. This doesn't seem the most opportune spot to look for USD-reversals given the lack of movement that's shown so far, dissimilar to USD/CAD above.

USD/CHF Four-Hour Price Chart

Chart prepared by James Stanley

AUD/USD Range Potential Remains

Also of interest for short-USD scenarios is a continued hold of support in AUD/USD. The .7000 big figure came into play last week and, since then, buyers have helped to hold the lows in the pair. Prices are currently struggling in the prior support zone from .7050-.7075, and this could be a theme to watch ahead of FOMC tomorrow as a push above that .7075 level can re-open the door to short-term bullish trend strategies, looking to fill-in the longer-term range. This could offer target potential in the zones from .7125-.7150 and again from .7185-.7206.

AUD/USD Four-Hour Price Chart

Chart prepared by James Stanley

US Oil Rallies and Turns on Venezuelan Coup Attempt

It's been a really busy day for Oil traders. WTI came into the week holding a zone of support around the 's1' area that I've been following. Prices soon started to rally and that theme hit fever pitch this morning on news of a reported coup in Venezuela, at which point prices soon jumped towards resistance. But, the same 64.77 level that was in play earlier this month came back into the picture, and prices soon pushed-lower, making for a volatile showing so far today.

This sets the stage for the rest of the week, in which considerable motive will remain on both sides of the matter given the heavy economic calendar outlay. Support potential could be sought from 61.58-61.87 and a bit-lower, from 60-60.35.

US Oil Four-Hour Price Chart

Chart prepared by James Stanley

To read more:

Are you looking for longer-term analysis on the U.S. Dollar? Our DailyFX Forecasts for Q4 have a section for each major currency, and we also offer a plethora of resources on USD-pairs such as EUR/USD, GBP/USD, USD/JPY, AUD/USD. Traders can also stay up with near-term positioning via our IG Client Sentiment Indicator.

Forex Trading Resources

DailyFX offers an abundance of tools, indicators and resources to help traders. For those looking for trading ideas, our IG Client Sentiment shows the positioning of retail traders with actual live trades and positions. Our trading guides bring our DailyFX Quarterly Forecasts and our Top Trading Opportunities; and our real-time news feed has intra-day interactions from the DailyFX team. And if you're looking for real-time analysis, our DailyFX Webinars offer numerous sessions each week in which you can see how and why we're looking at what we're looking at.

If you're looking for educational information, our New to FX guide is there to help new(er) traders while our Traits of Successful Traders research is built to help sharpen the skill set by focusing on risk and trade management.

— Written by James Stanley, Strategist for DailyFX.com

Contact and follow James on Twitter: @JStanleyFX

2019-04-30 19:57:00

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5 Biotech Stocks for a Long-Lived Portfolio

Posted: 30 Apr 2019 01:47 PM PDT

While the biotech sector saw early gains in 2019, the selling pressure has picked up steam recently as the government continued its scrutiny over the Medicare system and the pricing model for drugs. Not only are biotechnology stocks lower, but so are drug stores and drug plan suppliers. But this could be creating an interesting entry poinnt. Investors could invest in all of those sectors but the biotechnology stocks could prove the most rewarding.

Biotechnology companies spend enormous amounts of money and time developing drugs. They will eventually prove to the government that rising product prices are a necessity in developing novel and better drugs. Should they succeed and a drug comes to market, everyone wins.

Patients who need the drug will have another treatment option. Drug plan providers may negotiate better prices and offer

Biotech Stocks to Buy: Regeneron Pharmaceuticals (REGN)

Source: Shutterstock

Regeneron Pharmaceuticals (NASDAQ:REGN) fell 14% on news that its competitor, Novartis AG (NYSE:NVS), secured a speedy review for brolucizumab for use in wet, age-related macular degeneration. In August 2018, the FDA approved Regeneron's marketing for Eylea. But if Novartis has a superior product, this could put pressure on one of Regeneron's major product lines.

In 2018, Eylea sales topped $4.1 billion, up from $3.7 billion in 2017.

Markets chose to ignore the ongoing success of Regeneron's Dupixent drug. In 2018, sales topped $922 million. The high efficacy and safety profile of the injectable drug will surely drive sales higher this year and beyond. Dermira (NASDAQ:DERM) may have announced good Phase 2b study results last month but the company is a long way away from releasing a competitive product.

Sarepta Therapeutics (SRPT)

Source: Shutterstock

Sarepta Therapeutics (NASDAQ:SRPT) lost about one-third of its value from 52-week highs. Markets are still unhappy over the company's $350 million share offering announced in March. The company said that it would use the proceeds "for the continuation and initiation of further clinical trials, commercialization, manufacturing, business development activities, including the potential licensing or acquisition of complementary products, technologies and entities."

More recently, Sarepta presented a positive development in its gene therapy. With four patients involved in the age group of 4-7, the study met the primary end-point for safety. Secondary endpoints included a decrease in CK and a change in micro-dystrophin expression before and after treatment.

In the fourth quarter, Sarepta reported revenue increasing 47.3% Y/Y to $84.4 million. Still, even though the company reported a loss of $2.05 a share (GAAP), EXONDYS 51 revenue for the year topped $301.1 million. The company's NDA filing for golodirsen with priority review and a PDUFA of August 19 is notable. Golodirsen advances Sarepta's RNA strategy. The drug is for patients with Duchenne Muscular Dystrophy Amenable to Skipping Exon 53.

If the company receives approval, it would gain another 8% of the Duchenne community.

In the fourth quarter, Sarepta tripled its R&D spending, to $146.2 million. $10.4 million of the costs in clinical and manufacturing expenses also include a ramp up in manufacturing activities for Golodirsen.

Sarepta is scheduled to report first-quarter results on May 29, after market close.

Incyte Corporation (INCY)

Incyte Corporation's (NASDAQ:INCY) 14% monthly drop on the stock market, to a recent closing price of $73.52, should pique value investor interest. In the fourth quarter, the company reported revenue growing 25.2% to $468.4 million. Non-GAAP EPS came in at 40 cents.

The markets may have a memory that is too short-term. In the quarter, it saw a growth of 22% from Jakafi, 19% from Iclusig and 28% growth in Jakavi royalties. Jakafi is used for the treatment of intermediate or high-risk myelofibrosis. Management forecast Jakafi sales of $1.58 billion to $1.65 billion in 2019. Olumiant is now adding meaningfully to the company's top-line results. The drug is used to treat adults with moderate to severely active rheumatoid arthritis.

Incyte forecasts the royalty revenue for both Jakavi and Olumiant growing by around 20%. Overall, sales are expected to grow by between 14% and 19% in 2019.

Management is confident that its rich product portfolio will accelerate revenue growth. Already, top-line growth is due to revenue growth exceeding expense growth.

Incyte's strong balance sheet, with cash growing to $1.4 billion last year, gives the company the flexibility to develop products. Pursuing Phase 1 products will take a few years to pay off. Investors who are patient and buy and hold INCY stock will get rewarded if these projects are successful.

Vertex Pharmaceuticals (VRTX)

Source: Shutterstock

Vertex Pharmaceuticals (NASDAQ:VRTX) traded in a narrow range of between $180-$190 for most of 2019, only to fall below $168 in recent sessions. Investors may be getting nervous over its valuation, where its forward P/E is 28 times.

Vertex grows through investing in transformative medicines that offer a benefit, regardless of modality. It develops drugs for cystic fibrosis while expanding its pipeline. In 2018, it initiated clinical development of CRISPR-Cas9 treatment in Beta –Thalassemia and Sickle cell disease. This year, it aims to advance one or more compounds from research into clinical development.

Vertex reported revenue from the CF product line topping $3.04 billion in 2018, up from $2.17 billion in 2017. The company saw a sharp increase in the number of patients being treated by its approved medicines. The launch of Symdeko in the U.S. and multiple label expansions for Kalydeco and Orkambi also added meaningfully to results.

In 2019 and beyond, the company forecasts that with a triple combination regimen, it has the potential to increase treatment from ~44,000 to ~68,000 worldwide.

Non-GAAP operating income also grew sharply, from $564 million in 2017 to $1.11 billion in 2018. For 2019, Vertex forecasts operating income of $1.35 billion.

The 15 analysts who cover VRTX stock have, according to Tipranks, $209 price target, which implies the stock could rise by 23% in the next year. Investors should look at Vertex after the stock's recent drop.

Bluebird bio (BLUE)

Source: Shutterstock

Bluebird bio (NASDAQ:BLUE) fell about 12% in the last week alone, on no company-specific news. Just as markets quickly forgot the strong quarterly earnings report for the other biotech stocks mentioned, investors did the same with BLUE stock.

Bluebird expects LentiGlobin in TDT, a gene therapy, to win approval in 2019. But the company said the launch will be country-by-country progressive in Europe. The upside of this approach is that the company will not commit any major hiccups on the launch. The downside is that the revenue growth from sales will be slow. However, this should not concern investors who have a long-term time horizon in mind.

Last December 2018, the company presented new data for LentiGlobin in patients with transfusion-dependent β-thalassemia (TDT). It also discussed results for its Phase 1/2 HGB-206 study. And in November 2018, it completed enrollment for its Phase 2 study evaluating the efficacy and safety of bb2121 in patients with relapsed/refractory multiple myeloma.

Bluebird ended the fourth quarter with $1.9 billion in cash equivalents and marketable securities. With the most recent cash raise of $600.6 million in July 2018, the company is unlikely to issue any more shares in the short-term. Instead, the company may invest prudently in its clinical studies to advance drug development. Any good news from these studies will drive the stock price back to yearly highs.

Disclosure: As of this writing, the author did not hold a position in any of the aforementioned securities.

Mexico GDP Contracts, Peso Whipsaws Ahead of Fed

Posted: 30 Apr 2019 01:45 PM PDT

MEXICO GDP & USDMXN – TALKING POINTS:

USDMXN jumped higher immediately following Mexico's GDP data release which showed the Latin American economy contracted by 0.2 percent in the first quarter
Weaker growth across Mexico's services sector largely contributed to the country's deceleration in economic activity, but the Peso is holding up relatively well against the US Dollar
New to forex or looking for additional information to sharpen your trading skills? Check out this article that covers Mexican Peso Fundamentals or download the free DailyFX educational guide on How to Trade Economic News

Mexico released its 1Q 2019 GDP report this morning which indicated a 0.2 percent decline from the previous quarter. The headline number looks particularly disappointing considering that the economic contraction widely missed analyst expectations of 0.3 percent growth while President Andrés Manuel López Obrador predicted an aggressive growth rate of 2.0 percent for 2019.

In the World Economic Outlook and Financial Stability Report published earlier this month, however, the IMF slashed Mexico's economic growth forecast once again to 1.6 percent. Today's uninspiring data could potentially open the door to further downward revisions.

MEXICO GDP GROWTH PRICE CHART: QUARTERLY TIME FRAME (OCTOBER 2011 THROUGH MARCH 2019)

The decline in Mexico's latest GDP report may have been partly due to tension flaring up between the US and Mexico over their pending USCMA trade deal recently – the ongoing uncertainty, which Mexico's central bank previously highlighted as a risk, has likely dampened consumer sentiment, business activity and economic growth.

Also, the US released its own GDP report last week which illustrated a 1.2 percent drop in imports from Mexico. It now appears that this largely impacted Mexico's economic growth – particularly once considering the US accounts for roughly 80 percent of Mexico's exports.

In fact, Mexico is now the largest trading partner with the US which could be a result of the US-China Trade War. The possibility of the recent slowdown in US consumption and imports from Mexico continuing poses a threat that could materially drag down Mexico's economy.

In addition, seeing that Mexico is the eleventh largest oil producer in the world, the recent decrease in supply negatively impacted its oil exports which also contributed to lower than expected GDP.

USDMXN PRICE CHART: 15-MINUTE TIME FRAME (APRIL 28, 2019 TO APRIL 29, 2019)

At first, USDMXN advanced steeply once the data was published but the Mexican Peso has since trimmed losses against US Dollar. Price action surrounding today's GDP report saw the currency pair fluctuate nicely between the 1-standard deviation trading range of 18.893 to 19.096 calculated from USDMXN overnight implied volatility which was highlighted yesterday.

Greenback gains against the Peso could be dwindling due to widespread USD weakness expressed by the DXY US Dollar Index slipping nearly 0.4 percent so far today. Aside from the Euro largely dragging the US Dollar lower in response to the Eurozone's relatively upbeat GDP report, expectations for a dovish Fed ahead of the central bank's FOMC meeting tomorrow could be weighing negatively on USD crosses as well.

TRADING RESOURCES

Whether you are a new or experienced trader, DailyFX has multiple resources available to help you: an indicator for monitoring trader sentiment; quarterly trading forecasts; analytical and educational webinars held daily; trading guides to help you improve trading performance, and even one for those who are new to FX trading.

– Written by Rich Dvorak, and Nancy Pakbaz, CFA

– Follow @RichDvorakFXand @NancyPakbazFXon Twitter

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2019-04-30 20:00:00

EXPOSED: Pot Stocks Making New Millionaires Overnight?

Posted: 30 Apr 2019 01:29 PM PDT

EXPOSED: Pot Stocks Making New Millionaires Overnight?

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You may unsubscribe or change your contact details at any time.

2019-04-30 17:19:07

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5 Top Stock Trades for Wednesday: AAPL, MCD, SHOP

Posted: 30 Apr 2019 01:05 PM PDT

Tuesday's action just goes to show how strong the stock market has been. Despite an 8% drop in Alphabet (NASDAQ:GOOGL, NASDAQ:GOOG) following its earnings disappointment, the stock market was down but holding up pretty well. Eventually it took a tumble in what looked like it may be the start to the pullback so many have been hoping for.

Instead, the markets rebounded, with the S&P 500 about flat on the day. The action is irritating a lot of traders, but they need to be mindful of the trend. Until it breaks, there's no reason to be incredibly bearish. On that note, let's examine some top stock trades for tomorrow.

Top Stock Trades for Tomorrow #1: Apple

Most of FAANG has done pretty well post-earnings, with the exception of GOOGL. Investors are hoping that Apple (NASDAQ:AAPL) can trade higher after its report too, on today after the close.

I like that Apple stock has been pulling back over the past few trading sessions. Unlike GOOGL, which we outlined the day before as shares were red-hot into the print, AAPL stock has been retreating a bit.

That doesn't mean it's set to rally though. After all, shares are still up about 40% from the December lows. The company will have to bank on solid results, a good outlook and a strong capital return plan.

If investors bid it up, look to see that AAPL stock clears $205 on the upside. If it does, it opens the door to $215+. On the downside, I consider $190 a must-hold level. Not only a notable level on the chart, but also where the 50-day, 200-day and 50-week moving average currently rest. Below this and the $175 to $180 level is on the table.

According to the options market, Wall Street is pricing in a ~$10.60 move in Apple stock, or a little more than 5%. Let's see if they're right.

Top Stock Trades for Tomorrow #2: McDonald's

McDonald's (NYSE:MCD) clocked in at $200 on Tuesday after reporting earnings and that brought in the sellers. Now shares are bouncing around this $197.50 level and the next direction is unclear.

Investors can consider a short position should it lose Tuesday's lows and break below uptrend support. That could get a quick sell down to the 20-day moving average. Below there and the $188-ish level is in sight and/or the 50-day moving average.

That said, this name has been a beast, and if going short, I wouldn't look for massive downside. Otherwise, it's a buy-the-dip name until the trend breaks.

Top Stock Trades for Tomorrow #3: Shopify

Another beast? Shopify (NASDAQ:SHOP), which continues to rip higher, this time on earnings. Holy smokes this one has been a winner.

While SHOP is overbought, channel resistance still allows for an even higher expansion from current levels. On thing Shopify has done in this trend though? Breakout over short-term resistance and eventually pullback to that level only to find it as support.

Let's see if we get that kind of action again. Otherwise, SHOP is a pass for me on the long side at this time. But I'm definitely not shorting it.

Top Stock Trades for Tomorrow #4: Pfizer

Pfizer (NYSE:PFE) is up about 3% on the day after the company reported earnings. While momentum is starting to improve and the stock is anything but overbought, there are definitely some concerns.

For starters, PFE is struggling with $40, a prior support zone that's potentially now going to act as resistance. Should it get through $40, $42 is going to be tough too. Here the stock has both the 50-day and the 200-day, with the former crossing below the latter as we speak. I expect that to keep PFE in check. Finally, PFE has been making a series of lower highs (blue line), which is a bearish technical development.

Notice how the stock took out its January lows and quickly reclaimed this level. I normally love that action, but there are too many concerns on the chart for me right now. Over $40 and PFE could give short-term buyers a ~5% run, but be leery at the 50-day/200-day conflux.

Top Stock Trades for Tomorrow #5: NXP Semiconductors

NXP Semiconductors (NASDAQ:NXPI) is ripping, jumping more than 8% after the company reported earnings. The stock was holding up well over this $95 to $97 area, spring-boarding off its 20-week and 200-week moving averages.

Shares are now coming into potential downtrend resistance, although it's unclear whether it will play a role. More likely, $110 could be an upside cap, given that it was Qualcomm's (NASDAQ:QCOM) initial offer price for its takeover of NXP a few years ago.

Above that opens the door to the $117s and possibly higher. On the downside, it would be encouraging to see NXPI hold up over $100.

Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell was long GOOGL and AAPL.

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US Dollar Price Action Setups Ahead of FOMC, NFP

Posted: 30 Apr 2019 01:04 PM PDT

Forex Talking Points:

– If you're looking for a primer on the FX market, we can help. To get a ground-up explanation behind the Forex market, please click here to access our New to FX Trading Guide.

If you'd like to sign up for our webinars, we host an event on Tuesday and Thursday, each of which can be accessed from the below links:

Tuesday: Tuesday, 1PM ET

Thursday: Thursday 1PM ET

US Dollar: Stage Set for FOMC, NFP

US Dollar Pulls Back to S2 Zone as Bulls Pull Back from the Bid

This highlights support potential around the 97.20-97.30 area on the charts. A bit deeper offers another zone of potential around 96.75-97.90.

US Dollar Four-Hour Price Chart

Chart prepared by James Stanley

EUR/USD Tests Key 1.1212 Level

EUR/USD Four-Hour Price Chart

Chart prepared by James Stanley

GBP/USD Bulls Make Their Mark

GBP/USD Four-Hour Price Chart

Chart prepared by James Stanley

USDCAD Continued Reversal Potential

USDCAD Four-Hour Price Chart

Chart prepared by James Stanley

USD/CHF: Time to Flip?

USD/CHF Four-Hour Price Chart

Chart prepared by James Stanley

AUD/USD Range Potential Remains

AUD/USD Four-Hour Price Chart

Chart prepared by James Stanley

US Oil Rallies and Turns on Venezuelan Coup Attempt

US Oil Four-Hour Price Chart

Chart prepared by James Stanley

To read more:

Forex Trading Resources

— Written by James Stanley, Strategist for DailyFX.com

Contact and follow James on Twitter: @JStanleyFX

2019-04-30 19:57:00

April 30, 2019 : EUR/USD Intraday technical analysis and trade recommendations.

Posted: 30 Apr 2019 12:58 PM PDT

Few weeks ago, a bullish Head and Shoulders reversal pattern was demonstrated around 1.1200.

This enhanced further bullish advancement towards 1.1300-1.1315 (supply zone) where significant bearish rejection was demonstrated on April 15.

Short-term outlook turned to become bearish towards 1.1280 (61.8% Fibonacci) then 1.1235 (78.6% Fibonacci).

For Intraday traders, the price zone around 1.1235 (78.6% Fibonacci) stood as a temporary demand area which paused the ongoing bearish momentum for a while before bearish breakdown could be executed on April 23.

Currently, the price zone around 1.1235 has turned into supply-zone to be watched for bearish rejection.

Yesterday, a recent bullish head and shoulders pattern was being demonstrated around 1.1140 on the H4 chart.

That’s why, conservative traders were suggested to wait for another bullish pullback towards 1.1230-1.1250 for a valid SELL entry.

Trade recommendations :

Conservative traders can have a valid SELL entry anywhere around 1.1230-1.1250.

S/L should be located above 1.1270.

Target levels to be located around 1.1170 and 1.1130.

The material has been provided by InstaForex Company – www.instaforex.com
2019-04-30 15:03:21

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3 Bank Stocks to Buy for Long-Term Portfolios

Posted: 30 Apr 2019 12:29 PM PDT

As the earnings season moves forward, many investors may be wondering whether they should add new stocks to their portfolios. In that case, I'd like to suggest three bank stocks that you may want to take a closer look at: JPMorgan (NYSE:JPM), Toronto-Dominon Bank (NYSE:TD) and HSBC Holdings plc (ADR) (NYSE:HSBC).

Each of these bank stocks are backed by fundamentally strong businesses that also have various competitive advantages, such as new client growth potential, cost-cutting opportunities and capital return capacity that support their business and their respective stock prices.

Variables such as interest rates, economic growth, global political and trade worries and activity in the housing markets can, nonetheless, impact a bank's stock price. Therefore there will likely be daily price swings in JPM, TD or HSBC shares as news headlines change. However, within a quality/reward matrix, all three banks score well and long-term investors may see any further price declines as opportunities to buy into the shares.

With that in mind, let us dive into each bank's fundamentals to discuss how they may be well-positioned for long-term growth and are set to provide attractive returns to shareholders going forward.

JPMorgan (JPM)

Source: Shutterstock

On April 12, JPMorgan, the biggest U.S. bank based on deposits and revenue, delivered robust Q1 2019 earnings results. The results showed a 30-cent beat on earnings-per-share and an impressive $1.5 billion revenue beat. The largest U.S. issuer of credit cards is also a leader in investment banking. The group's diversified business operates in four segments:

Consumer and community banking (largest segment by net income);
Corporate and investment bank;
Commercial banking; and
Asset and wealth management (most profitable segment).

JPM's trailing price-to-earnings ratio of 12X is likely to catch the attention of value investors. Long-term investors also enjoy a current dividend yield of 2.8%. In June 2018, the group announced a new capital return program that includes a share repurchase program for $20.7 billion.

Dividends and stock repurchases concern shareholders because they affect investment returns. In other words, JPMorgan rewards long-term investors with generous cash distributions in terms of dividends and buybacks. JPM is a strong case of management that is able to look after its shareholders through capital distributions over the long term.

In April, the bank announced record profit and revenue for the quarter, helping restore some bullishness for the industry in general, too. This strong profitability, robust market share in its respective operational segments, as well as proactive management, add to the strength of JPM stock, which is up 16% year-to-date.

At the bank's recent investor day on Feb. 26, JPMorgan Chase said that the bank saw no major recession risk in the U.S. It also announced that its Commercial Banking arm would be continuing to expand internationally in European and Asia-Pacific markets as the bank eyed high-growth opportunities in these markets.

This strategic decision is likely to bring further strength to JPM's stock price in the next decade. JPMorgan also aims to increase its artificial intelligence (AI) driven execution capabilities in sales and trading, which may help decrease operating costs and improve margins.

Toronto-Dominion Bank (TD)

The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group.

On Feb. 28, the Canadian multinational banking and financial services corporation announced its financial results for the first quarter that ended on Jan. 31, 2019. TD Bank reported a 2.4% uptick in Q1 profits to $2.41 billion as its net interest income shot up by 8% to $5.9 billion.

Toronto-Dominion Bank increased its dividend by7 cents to 74 cents per share. The dividend yield now stands at a healthy 4%. The contribution of dividends to TD stock's total return is quite formidable.

The group has three main business segments:

Canadian Retail
U.S. Retail
Wholesale Banking

The latest quarterly report showed that the U.S. retail operations were strong as the earnings went up 30% from a year earlier. However, net income from the Canadian retail operations slipped. And its wholesale banking showed a net loss of $17 million, which the bank blamed on market volatility and lower client activity.

TD is ranked as one of the top-10 U.S. retail banks and many customers praise the high service the bank offers. Overall, analysts also applaud the robustness of TD's risk-management and mortgage-underwriting strategies, in part due to the general conservatism of Canadian banks.

Going forward, the group's wholesale banking is likely to deliver improved performance. Finally, over the next five years, Toronto-Dominion Bank's EPS is projected to increase by 11.7% annually, compared to an industry average of 9.8%.

In other words, Toronto-Dominion Bank enables shareholders to buy into a strong group that generates profits on both sides of the border. The bank is expected to release its Q2 financial results on May 23, when analysts will pay attention to management's discussion of the overall business conditions on the earnings call as well as the potential continued strength of the U.S. operations.

HSBC (HSBC)

Founded in 1865, the London-based bank's operations are global and HSBC is one of the biggest banks in the world. HSBC's business is well diversified geographically as it is present in the five continents. The banking giant has four main business segments:

Retail Banking and Wealth Management (largest segment by revenue)
Commercial Banking
Global Banking and Markets
Global Private Banking

About three-quarters of the profit comes from mostly corporate clients in Asia, offering exposure to Hong Kong and China. HSBC's trade finance business in the region is still one of its major competitive advantages.

Especially in 2018, the volatility in Chinese stocks due to U.S.-China trade war fears as well as the political reality in Britain have both affected the HSBC stock price adversely. Following a June 2016 referendum, the U.K. decided to leave the European Union (E.U.). The process, known as "Brexit," has been complicated both in technical and political terms.

Despite its international focus, the group has made substantial preparations for a no-deal Brexit, in which case the U.K. would leave the E.U. without a trade deal. Like many other U.K. banks, in order to continue to have full access to the E.U., HSBC has been moving some of its operations, assets and staff to other countries, mostly France. Therefore, I believe any further negative effect of a potential no-deal scenario is already baked into the stock price.

On Feb. 19, the group released annual results with both revenue and profit coming in below expectations. Management highlighted that concerns about a US-China trade dispute had impacted the banking giant. But stock markets could be ready to look beyond the trade war as both sides express willingness to finalise a new agreement soon. So despite the recent adverse sentiment toward companies with exposure to the Chinese economy, HSBC stock offer investors the possibility to invest in this growing region.

Year-to-date, HSBC stock is up 4%. Value investors are encouraged by the HSBC's trailing P/E ratio, which is currently at 13.5. Similarly, its price-to-book (P/B) ratio of 0.9, which measures the market value of HSBC's equity to the book value of its equity, makes the shares attractive. In general, when comparing similar financial stocks, investors like to see lower P/E and P/B ratios.

HSBC management has also initiated a series of cost-cutting measures to improve the bottom line in the coming quarters. As a result, analysts are expecting earnings growth of almost 5% in 2020.

And the bank's current dividend provides a healthy yield of 5.8%, which makes it an important addition to any capital growth portfolio. For income-oriented investors, the dividend income alone may prove to be a rather attractive proposition. Over the long term, HSBC stock remains a strong financial stock with an excellent dividend ratio and exposure to the high-growth markets of the Pacific Rim.

5 Terrific Tech Stocks That Will Make You Forget About FANG Stocks

Posted: 30 Apr 2019 11:45 AM PDT

[Editor's note: This story was previously published in Jan. 2019. It has since been updated and republished.]

When it comes to tech stocks a lot of ink has been spilled on the so-called FANG stocks. And for good reason. Leaders like Facebook (NYSE:FB) or Netflix (NASDAQ:NFLX) have been dominant forces in the sector and have shaken-up their respective technology subsectors since the end of the Great Recession. The problem is,as we continue to focus on the FANGs, plenty of other tech stocks have gone unnoticed. After all, there's more to the technology sector than just Apple (NASDAQ:AAPL).

In fact, there's a lot more.

Some of the best tech stocks continue to fly under the radar as the focus continues to be on FAANG stocks. For investors, looking at them could provide some of the best long-term growth potential around.

But which firms have the goods to help get your mind off the likes of Google (NASDAQ:GOOG) and NFLX?

Here are five tech stocks worth a look.

Tech Stocks That Are Not FANG: The Trade Desk (TTD)

Advertising today is nothing like an episode of Mad Men. As various digital platforms have exploded in use, marketers and advertisers have been forced to adapt to the shifting landscape. Helping them adapt to that shift and target the right customer at the right time is The Trade Desk (NYSE:TTD).

The idea behind TTD is simple enough. Dubbed "programmatic advertising," Trade Desk will use high-speed computers and various algorithms to automate the process of ad buying in real time. By searching the nearly 20 digital-ad exchanges, TTD allows advertisers to instantly find exactly who they want to target their ad to — whether that's on their computer, smartphone or other devices. Trade Desk's programs are so fast and successful, they are able to place roughly 9 million ads per second through their online auctions.

In the end, it creates a much more efficient and cost-effective way for companies to reach consumers.

For TTD, this creates plenty of revenues and growth. As Trade Desk has been able to score more customers, the Trade desk saw its revenue jump by 56% year-over-year during the fourth quarter. The best part of that jump was that two of firm's main growth engines — video and connected TV advertising — are just really getting started. That leaves plenty of room for TTD to continue its pace of huge revenue jumps. Even better, TTD stock is profitable.

All in all, the Trade Desk has what it takes to be one of the best tech stocks outside the FANGs.

Tech Stocks That Are Not FANG: Workday (WDAY)

Cloud computing has really changed the way we function these days. So, naturally, tech stocks leading the way into the cloud are worthy FANG replacements. And Workday (NASDAQ:WDAY) may be one of the best.

Human Resources is full of tedious tasks such as changing ACH payroll information, filling out expense reports or signing up for a retirement/401k plan. Often these things get in the way of allowing the HR staff to do meaningful work. WDAY makes a variety of applications for small or large businesses to cover these tasks. The best part is, like many cloud computing firms, a business can add as little or as much as they like. And rather than purchasing the service, they pay a reoccurring fee.

For Workday, this has all added up to some great growth. During Q4, WDAY saw a huge 35.4% jump to its total revenues, while subscriptions revenues came in at $673.5 million — a 30% year-over-year jump. The best part is that its subscription revenue backlog — that is, sales that are not officially booked, but will be as because companies have signed up for multi-term products — came in at over $6.7 billion.

With key high-margined products — such as WDAY's business intelligence offering, Prism Analytics — growing like weeds, the pace of revenues should continue. Moreover, it should allow Workday to finally move into the black when it comes to GAAP accounting standards.

All in all, Workday is quickly becoming a go-to name in HR management. For investors, that makes one serious tech stock to have your portfolio.

Tech Stocks That Are Not FANG: Twilio (TWLO)

Want to forget the FANGs? A 278% return will help you do it. And that's just what investors in Twilio (NASDAQ:TWLO) were treated to last year. That return was one of the best among all tech stocks — FANG's included. There's plenty of reasons why TWLO could see more gains ahead.

Twilio designs cloud-based communications platforms that allow developers to send automated phone calls, text messages, and other communication functions. For example, when you're doing a bit of online shopping or banking and you see one of those chat boxes that allows you ask questions or find out more about a product or account, Twilio made that happen. The awesome part is that developers can simply take TWLO's APIs and apps, chuck them into their code and instantly get the ability to add these functions. TWLO collects a fee when consumers use the functions.

And collect fees it does.

As of the end of the third quarter, TWLO had roughly 64,300 different customers using their apps. In Q4 alone, revenues jumped by 77% as both organic and new customer growth surged. And there's still plenty of room to grow across a variety of customers.

Given the ease of TWLO's products and the continued growth potential, it's easy to see how the tech stock will a giant over the long haul. That's assuming it doesn't get bought out first.

Tech Stocks That Are Not FANG: Splunk (SPLK)

As technology has invaded our lives, we create a lot of data. In fact, we make so much of it, a new term "Big Data" was invented to describe the billions of gigabytes of info we generate. The problem for businesses is how to comprehend that data and dig into it to gain actual knowledge. Software firm Splunk (NASDAQ:SPLK) hopes to provide the answers.

At its core, Splunk provides a variety of tools and businesses intelligence software to collect, manage and analyze all the data various organizations make. This includes everything from machine learning and application analysis to cybersecurity and business analytics. The win is that SPLK's applications are set-up to use a simple website-style interface. You don't need to be a developer to use or understand the software.

This ease of use and ability to comb through all the data has a lot of fans. Some of SPLK's customers include Zillow (NYSE:Z), Coca-Cola (NYSE:KO) and AAA.

Naturally, all of this love for Big Data has created some big revenues for the tech stock. In Q4, revenues jumped 35% year-over-year.

When it comes to tech stocks, Splunk is the reigning big data king.

Tech Stocks That Are Not FANG: Fortinet Inc (FTNT)

Not to be confused with the popular video game Fortnite, Fortinet (NASDAQ:FTNT) could be one of the best tech stocks out there. And that's because of what it targets: cybersecurity.

With hacks, data breaches and other cyber threats on the rise, protecting a network is of utmost importance. And it's only getting much more important as we move into the cloud, conduct more banking online and live more complicated digital lives. It's FTNT's job to make sure a company's or your data doesn't fall into the hands of hackers. It develops and markets various cybersecurity software as well as devices such as firewalls, anti-virus, intrusion prevention, VPNs and endpoint security products. Basically, all the stuff you'd need to build a secure network.

And given the high-profile nature of several recent data breaches, FTNT is supplying a lot of stuff. In Q4, its revenues grew at 22%. More importantly, the company's 2019 EPS guidance came in well above the consensus outlook

With digital threats continuing to grow, Fortinet is poised to be one of the biggest winners among tech stocks.

Disclosure: As of the time of writing, Aaron Levitt held no position in any stock mentioned.

Forex News 24

Forex News 24

Forex Talking Points:

US Dollar: Stage Set for FOMC, NFP

US Dollar Pulls Back to S2 Zone as Bulls Pull Back from the Bid

US Dollar Four-Hour Price Chart

EUR/USD Tests Key 1.1212 Level

EUR/USD Four-Hour Price Chart

GBP/USD Bulls Make Their Mark

GBP/USD Four-Hour Price Chart

USDCAD Continued Reversal Potential

USDCAD Four-Hour Price Chart

USD/CHF: Time to Flip?

USD/CHF Four-Hour Price Chart

AUD/USD Range Potential Remains

AUD/USD Four-Hour Price Chart

US Oil Rallies and Turns on Venezuelan Coup Attempt

US Oil Four-Hour Price Chart

To read more:

Biotech Stocks to Buy: Regeneron Pharmaceuticals (REGN)

Sarepta Therapeutics (SRPT)

Incyte Corporation (INCY)

Vertex Pharmaceuticals (VRTX)

Bluebird bio (BLUE)

MEXICO GDP & USDMXN – TALKING POINTS:

MEXICO GDP GROWTH PRICE CHART: QUARTERLY TIME FRAME (OCTOBER 2011 THROUGH MARCH 2019)

USDMXN PRICE CHART: 15-MINUTE TIME FRAME (APRIL 28, 2019 TO APRIL 29, 2019)

TRADING RESOURCES

Top Stock Trades for Tomorrow #1: Apple

Top Stock Trades for Tomorrow #2: McDonald's

Top Stock Trades for Tomorrow #3: Shopify

Top Stock Trades for Tomorrow #4: Pfizer

Top Stock Trades for Tomorrow #5: NXP Semiconductors

Forex Talking Points:

US Dollar: Stage Set for FOMC, NFP

US Dollar Pulls Back to S2 Zone as Bulls Pull Back from the Bid

US Dollar Four-Hour Price Chart

EUR/USD Tests Key 1.1212 Level

EUR/USD Four-Hour Price Chart

GBP/USD Bulls Make Their Mark

GBP/USD Four-Hour Price Chart

USDCAD Continued Reversal Potential

USDCAD Four-Hour Price Chart

USD/CHF: Time to Flip?

USD/CHF Four-Hour Price Chart

AUD/USD Range Potential Remains

AUD/USD Four-Hour Price Chart

US Oil Rallies and Turns on Venezuelan Coup Attempt

US Oil Four-Hour Price Chart

To read more:

JPMorgan (JPM)

Toronto-Dominion Bank (TD)

HSBC (HSBC)

Tech Stocks That Are Not FANG: The Trade Desk (TTD)

Tech Stocks That Are Not FANG: Workday (WDAY)

Tech Stocks That Are Not FANG: Twilio (TWLO)

Tech Stocks That Are Not FANG: Splunk (SPLK)

Tech Stocks That Are Not FANG: Fortinet Inc (FTNT)

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