Forex News 24 |
- Crude Oil Price Gets Caught at Key Resistance: Oil Levels to Know
- Unusual Options Activity: Fastenal (FAST)
- Why Hexo (HEXO) Stock Can Rise Meaningfully From Current Levels
- Net-Long Positions decrease by 20.2% from Last Week
- 7 Inexpensive High Dividend ETFs to Buy
- More Fed Members Turn Dovish, Focus on Chairman Powell’s Monetary Policy Discussion
- Tradepoint sell-side technology streams far-date NDFs
- US Dollar Sentiment Hit by Rate Cut Talk
- Continued Weakness Is Only a Buying Opportunity for Nvidia Stock
- EURUSD, USDCAD, GBPUSD Charts & More
| Crude Oil Price Gets Caught at Key Resistance: Oil Levels to Know Posted: 25 Jun 2019 06:08 AM PDT Hits: 3 Crude Oil Price Talking Points:
Crude Oil Prices Catch Support After May TumbleIt's been a riveting two months in Crude Oil markets. While Oil prices had spent much of the prior five months in varying forms of rally, sellers showed-up in late-April and continued to drive price action through the month of May. As looked at coming into June, which bearish breakout potential permeated the backdrop and in the early-portion of the month, prices plummeted down to a fresh four-month-lows, soon finding support at a key area on the chart around the 50.54-51.50 zone, which contains a few different Fibonacci levels of relevance. Crude Oil Price Daily ChartChart prepared by James Stanley After support came into play during the first week of June, a bit of digestion began to show. This lasted for a little over a week as prices initially flickered up to the 54.59 Fibonacci level, after which buyers came-in to pose a higher-low on the chart. That support held into last week, at which point a strong rally began to show on the back of the FOMC rate decision on Wednesday. With the Fed posing a dovish twist in their forecasts, pretty much anything not nailed down has seen prices gain. In Crude Oil, this has amounted to a rally back to a key zone on the chart, and this is an area that had previously come into play as support in late-May as prices were breaking down. This area held the highs on Friday and through the weekly open; and after a doji yesterday sellers are continuing to hold the advance at bay. Crude Oil Four-Hour Price Chart
Chart prepared by James Stanley Given the equalized price action that's been showing since Friday, and this market can break in either way. Given the brute force of the selling that initially drove the move in late-April, May and early-June, there could be a bit more unwind to show before sellers might be able to come back into the picture. For that, resistance around the 60-level could remain as attractive, as this level is confluent with the 50% marker of the October-December sell-off, and this is the same study from which the 23.6% marker helped to catch the low earlier this month. There's also a bearish trend-line projection in the same area, taken from April and May swing-highs. Crude Oil Eight-Hour Price Chart
Chart prepared by James Stanley Crude Oil Reversal PlaysGiven the hold of resistance, there could also be near-term reversal potential. Given the hold in this resistance zone, traders would likely want to keep risk levels rather tight so that if a topside push up to 60 did develop, reversals could simply be opened at a higher price later without having to take a ride up to a near-term higher-high. Monday's swing low can function as a nearby target that could allow for break-even stop moves, while the Fibonacci level lurking below at 55.57 can function as an initial target in the move. Below that, the levels of 55.00 and 54.49 retain interest as well; and if sellers can really make a mark, potential support around 53.25 and 52.50 remain of interest. After that, the prior zone of support comes into play at 51.50 and then 50.54, which then exposes the psychological level of 50. Crude Oil Price Chart Four Hours
Chart prepared by James Stanley To read more:Are you looking for longer-term analysis on the U.S. Dollar? Our DailyFX Forecasts have a section for each major currency, and we also offer a plethora of resources on Gold or 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 http://platform.twitter.com/widgets.js Can you get prosperous from fx trading? The serve is if you go from river forex, and promiscuous forex, use algorithms in fxtrading, what is farm in forex 1 symbol canadian, netdania forex, buy increase vantage of the forex scheme indicators, and account the mean fx strategy. We present follow win all.  |
| Unusual Options Activity: Fastenal (FAST) Posted: 25 Jun 2019 06:04 AM PDT Hits: 4 Hardware and construction equipment company may be in for a big drop. A large bet has been made that shares of Fastenal (FAST) will decline 25 percent by January 2021. On Monday, over 2,000 contracts of the January 2021 $25 put options contracts had been traded, against an open interest of 142, representing a 14-fold surge in volume. This bet, with shares currently at $32.50, would need to see shares decline at least 25 percent before paying off. With Fastenal's business in construction and manufacturing supplies and equipment, the company is a solid way to bet for global growth. The put option trade suggests an inexpensive way to bet on an economic decline. Shares trade about in line with the market in terms of valuation at around 20 times forward earnings, but could sharply drop if economic indicators, particularly construction ones, drop. Action to take: With the contracts trading around $1.75, and an expiration date about a year and a half away, this bet could be a good way to hedge your portfolio between now and then. A long-dated put option like this is often a better way to trade than to short a company's stock directly, and at a fraction of the cost involved. Given how steep the stock would have to drop, however, traders may want to look at a higher strike price, such as the January 2021 $30 puts instead as a hedge trade more likely to pay off.
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| Why Hexo (HEXO) Stock Can Rise Meaningfully From Current Levels Posted: 25 Jun 2019 05:59 AM PDT Hits: 4 HEXO Corp. (NYSE:HEXO), the Canadian cannabis company, is in a tailspin. HEXO stock price is down about 20% this month, more than triple the June decline of the ETFMG Alternative Harvest ETF (NYSEARCA:MJ). The June swoon has HEXO stock price about 35% below its 52-week high, more than enough to officially put the marijuana stock in a bear market.
Stocks with low price tags, the condition Hexo stock is currently afflicted with, have a way of luring investors. Many of these names become "cheap stocks" simply because they are poorly run or fundamentally flawed companies. Other stocks rapidly decline because of near-term blips and bearish traders getting too far ahead of themselves. While the Street will always debate why a stock gets drubbed in a short amount of time, such as HEXO losing about 20% this month, the key is figuring out if it is a bad stock that's receiving justifiably harsh treatment or a quality name with rebound potential. A case can be made that HEXO is in the latter category. HEXO's Recent WoesHEXO does not garner the same level of attention as some of the larger marijuana stocks, such as Canopy Growth (NYSE:CGC), Aurora Cannabis (NYSE:ACB), Tilray (NASDAQ:TLRY), or Cronos Group (NASDAQ:CRON). Still, Hexo is the dominant cannabis name in Quebec, Canada's second-largest province. The company controls 30% of Quebec's marijuana market. Hexo stock is being taken to task largely because it announced earlier this month that its quarterly revenue had missed analysts' average estimate. Since HEXO has a market value of just $1 billion, investors view it as a growth name. With high growth expectations come some tolerance for lack of profitability. However, the tradeoff is expectations of high revenue growth. Fortunately, analysts are projecting significant revenue growth for HEXO. The company is expected to post revenue of C$62.62 million in 2019, a figure that could run to C$320 million in 2020. However, Hexo stock currently does not reflect the potential for the company's revenue to more than quadruple next year. The recent price action of Hexo stock reflects a great deal of risk, some of which is justified. Recently, Jefferies analyst Owen Bennett, who has an "underperform" rating on Hexo stock, pared his price target on the name and highlighted several risks that could surprise the owners of Hexo stock. Those risks include Canadian authorities potentially delaying guidance on non-flower cannabis derivatives, the possibility that the launch of a processing facility HEXO is building could be delayed, and margin compression due to a supply glut in the Canadian marijuana market. The Bottom Line on HEXO StockThere is no such thing as a risk-free bet in equity markets, and that is particularly true of marijuana stocks. However, Hexo stock has arguably priced in plenty of bad news without accounting for its longer-term bullish catalysts, including geographic diversity. "The Canadian Company is one of the largest licensed cannabis companies in Canada, operates with 1.8 million sq. ft of facilities in Ontario and Quebec and has a foothold in Greece to establish a Eurozone processing, production and distribution centre," according to the company. Additionally, HEXO is taking steps to enter the fast-growing U.S. CBD market, and it is partnering with Molson Coors (NYSE:TAP) on cannabis beverages. Investors who grab Hexo stock right now may not have the smoothest of rides, but if its revenue growth over the next 12 months meets or beats expectations, Hexo stock can climb meaningfully. As of this writing, Todd Shriber does not own any of the aforementioned securities. Can you get rich from fx trading? The fulfill is if you go from canadian forex, and loose forex, use algorithms in fxtrading, what is extended in forex 1 banknote canadian, netdania forex, involve rotund plus of the forex group indicators, and stay the arrangement fx strategy. We instrument succeed win all. Can you get gilded from fx trading? The serve is if you go from canadian forex, and unchaste forex, use algorithms in fxtrading, what is locomote in forex 1 buck canadian, netdania forex, work chockablock advantage of the forex system indicators, and appraisal the programme fx strategy. We testament succeed win all.  |
| Net-Long Positions decrease by 20.2% from Last Week Posted: 25 Jun 2019 05:48 AM PDT Hits: 5 Retail trader data shows 70.7% of traders are net-longGBPUSD: Retail trader data shows 70.7% of traders are net-long with the ratio of traders long to short at 2.41 to 1. In fact, traders have remained net-long since May 06 when GBPUSD traded near 1.29298; price has moved 1.3% lower since then. The number of traders net-long is 2.7% higher than yesterday and 20.2% lower from last week, while the number of traders net-short is 17.5% higher than yesterday and 44.5% higher from last week. To gain more insight in how we use sentiment to supplement a strategy, join us for one of our weekly webinars on how to "Identify Trends with Sentiment": (click on one of the above times to enroll) GBP/USD: Reduction in net-longs suggests bullish trading biasWe typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests GBPUSD prices may continue to fall. Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current GBPUSD price trend may soon reverse higher despite the fact traders remain net-long. -Written by Tammy Da Costa, DailyFX Research 2019-06-25 13:17:00 Can you get luxurious from fx trading? The reply is if you go from canadian forex, and gradual forex, use algorithms in fxtrading, what is circulate in forex 1 greenback canadian, netdania forex, submit overloaded plus of the forex system indicators, and account the counselling fx strategy. We present win win all.  |
| 7 Inexpensive High Dividend ETFs to Buy Posted: 25 Jun 2019 05:22 AM PDT Hits: 7 Editor's note: This story was previously published in March 2019. It has since been updated and republished. The universe of exchange-traded funds (ETFs) is awash in low-fee products, and the space is growing as issuers reduce their fees to lure investors. Income-seeking investors do not have to pay up to access high-dividend ETFs. In fact, numerous high-dividend ETFs can be inexpensive, which is an important point for income investors looking to keep more of those dividends and a higher share of their invested capital. High-dividend ETFs are often embraced by long-term investors and over the long-term, lower fees can mean better outcomes for investors. Over the past several years, data confirm that when it comes to adding new assets, the best ETFs are usually those with annual fees of 0.20% or less. Plenty of high-dividend ETFs fit into that category, making it a cost-effective method for thrifty investors to access broad baskets of dividend stocks. Here are some high-dividend ETFs, with very low fees, for income-minded investors to consider. High-Dividend ETFs to Buy: iShares Core High Dividend ETF (HDV)Expense Ratio: 0.08%, or $8 annually per $10,000 investment Many high dividend ETFs weight components by yield, a strategy that has some drawbacks. Those disadvantages include vulnerability to rising interest rates and the potential for exposure to financially challenged companies that may have trouble maintaining and growing dividends. The iShares Core High Dividend ETF (NYSEARCA:HDV) has a 12-month dividend yield of 3.23%, which is well above the S&P 500 and 10-year Treasuries. However, this high-dividend ETF follows the Morningstar Dividend Yield Focus Index, which screens companies for financial health, giving the fund a quality look. With an annual fee of just 0.08%, HDV is one of the cheaper high dividend ETFs on the market today. That low fee coupled with its sector allocations make HDV ideal for conservative investors. The healthcare, consumer staples, telecom and utilities sectors, four of HDV's top five sector weights, can all be considered defensive groups. High-Dividend ETFs to Buy: SPDR Portfolio S&P 500 High Dividend ETF (SPYD)Expense Ratio: 0.08% The SPDR Portfolio S&P 500 High Dividend ETF (NYSEARCA:SPYD) is one of the least expensive dividend ETFs on the market, high dividend or otherwise. The ETF tracks the S&P 500 High Dividend Index, the high-dividend offshoot of the traditional S&P 500. SPYD's yield requirement gives this high-dividend ETF a focused roster of just 80 stocks, but the 12-month dividend yield of 4.5% makes this high-dividend ETF appealing for income investors relative to standard broad market funds. SPYD relies heavily on high income sectors that have shown historical vulnerability to rising interest rates — a trait to keep in mind in the current market environment. The real estate and utilities sectors combine for almost 35% of this high dividend ETF's weight. High-Dividend ETFs to Buy: Invesco Dow Jones Industrial Average Dividend ETF (DJD)Expense Ratio: 0.3% The Invesco Dow Jones Industrial Average Dividend ETF (NYSEARCA:DJD) is a yield-weighted approach to the venerable Dow Jones Industrial Average. What this high-dividend ETF does is weigh the 30 Dow stocks by their trailing 12-month dividend, not price, as the traditional Dow does. DJD's yield focus makes IBM(NYSE:IBM) the high dividend ETF's largest holding. DJD's largest sector weight is technology, and the fund devotes just 11.67% to industrials. While DJD appears to be a high-dividend ETF, the fund offers significant dividend growth potential because many of the Dow's 30 member firms have payout-increase streaks that can be measured in decades. High-Dividend ETFs to Buy: Invesco S&P 500 Quality ETF (SPHQ)Expense Ratio: 0.28% With a distribution rate of just 1.6%, the Invesco S&P 500 Quality ETF (NYSEARCA:SPHQ) does not scream "high dividend ETF." SPHQ's underlying index, the S&P 500 Quality Index, does not even emphasize dividends. Rather, that benchmark focuses on firms "that have the highest quality score, which is calculated based on three fundamental measures, return on equity, accruals ratio and financial leverage ratio," according to Invesco. While SPHQ is not explicitly a high -dividend fund, reliable, growing dividends are often a hallmark of companies meeting the standards of the quality factor. With a combined weight of nearly 40% to the technology and consumer services sectors, SPHQ has the feel of a growth ETF, but that means this fund also pairs well with more traditional high-dividend ETFs, such as some of the funds highlighted above. High-Dividend ETFs to Buy: Vanguard High Dividend Yield ETF (VYM)Expense Ratio: 0.06% Home to $22.8 billion in total net assets, the Vanguard High Dividend Yield ETF (NYSEARCA:VYM) is one of the largest dividend ETFs of any variety. It is not unreasonable to believe that VYM's name frames the fund as a high-dividend ETF, but a yield of 3.07% is not alarmingly high. More importantly, VYM is not overly dependent on rate-sensitive sectors. This high-dividend ETF features no real estate exposure and the bond-esque telecom and utilities sectors combine for just 13.3% of VYM's weight. Nearly a quarter of the fund's holdings hail from the industrial and healthcare sectors. Financials, a sector that has been a major driver of S&P 500 dividend growth over the past year, is this high dividend ETF's largest sector exposure at 18.6%. High-Dividend ETFs to Buy: JPMorgan U.S. Dividend ETF (JDIV)Expense Ratio: 0.12% The JPMorgan U.S. Dividend ETF (NYSEARCA:JDIV) is one of the youngest funds on this list, having debuted in late 2017, but it fits the bill as a cost-effective, high-dividend ETF. JDIV "utilizes a rules-based approach that adjusts sector weights based on volatility and yield and selects the highest yielding stocks," according to the issuer. With a 12-month yield of 3.64%, JDIV has high-dividend ETF credentials. JDIV's annual fee of 0.12% is quite low. High-Dividend ETFs to Buy: Xtrackers MSCI EAFE High Dividend Yield Equity ETF (HDEF)Expense Ratio: 0.33% The Xtrackers MSCI EAFE High Dividend Yield Equity ETF (NYSEARCA:HDEF) targets the MSCI EAFE High Dividend Yield Index, a benchmark that is a high-dividend derivative of the widely followed MSCI EAFE Index. While HDEF is a credible name among international high dividend ETFs, the laggard status of European stocks has hindered HDEF in recent months. On the more positive side of the ledger is ex-U.S. dividend growth and valuation opportunities across developed markets, two traits that speak to long-term opportunity with HDEF. As of this writing, Todd Shriber did not own any of the aforementioned securities. Can you get rich from fx trading? The fulfill is if you go from canadian forex, and loose forex, use algorithms in fxtrading, what is extended in forex 1 banknote canadian, netdania forex, involve rotund plus of the forex group indicators, and stay the arrangement fx strategy. We instrument succeed win all. Can you get gilded from fx trading? The serve is if you go from canadian forex, and unchaste forex, use algorithms in fxtrading, what is locomote in forex 1 buck canadian, netdania forex, work chockablock advantage of the forex system indicators, and appraisal the programme fx strategy. We testament succeed win all.  |
| More Fed Members Turn Dovish, Focus on Chairman Powell’s Monetary Policy Discussion Posted: 25 Jun 2019 05:10 AM PDT Hits: 8 Talking Points:
As Fed Chairman Jerome Powell is due to speak later this afternoon about the economic outlook and US monetary policy, investors will be looking for any information regarding the size of the rate cut, if any, to happen in July's meeting. Commentary from last week's meeting indicated a change in the Fed's stance as it dropped its "let's be patient and see what happens" approach to become more "we will act as appropriate to sustain economic expansion", confirming investor's concerns about the outlook of the US economy and sending the dollar in a downward spiral. Markets are now pricing in a near 100% chance that rates will be cut by at least 25 basis points next month as many were expecting the cut to have happened already in the rate decision that took place last week. FOMC members' views are starting to divideThe decision to keep rates unchanged in the June meeting was not unanimous as Fed President James Bullard voted to reduce the rate for a final vote of 9 to 1. It is not much of a surprise that he voted in favour of reducing rates as he had already mentioned at a meeting on June 3 that rates cuts were to be "warranted soon" because of increased trade war risk, slowing global growth and sluggish inflation. And he may no longer be the only one to vote in favour of reducing rates next month, as Governor Lael Brainard suggested on Friday that she would support a reduction in rates to guard the economy against the downside risks it faces. Despite being a non-voting member Neel Kashkari could have significant influence at the next meeting as he stands as one of the more dovish members of the Fed together with Mr. Bullard. It is reported that he suggested a 50 basis point cut at last week's meeting as he believes that an aggressive policy needs to be in place in order to "re-anchor" inflation expectations and tackle stagnant growth and inverted yield curves. And more hawkish members of the FOMC may be losing a leg to stand on as economic conditions are only getting tougher for the US. In last week's meeting the Fed pointed out that economic activity was rising at a moderate rate, which differs from the solid rate mentioned in the May meeting. Both the manufacturing and services industries are slowing as both figures are very close to the 50 line that marks a contraction in the industry, and although the jobs market remains strong, job and wage growth are slowing, and inflation remains below the 2% target. But others within the FOMC still remain tilted towards the neutral "wait and see" stance as they believe that it is too soon to gauge how trade wars and growth uncertainty will affect the US economy. At the front of this group is Dallas Federal Reserve Bank President Robert Kaplan who has re-iterated that the Fed must wait and see what happens before making any decisions on rate changes. He believes that inflation will organically increase in the next 12 months as a stronger jobs market and increase in wages will push inflation higher despite the downward pressure on prices. Central Banks' power to influence the markets are diminishingBut there is no guarantee that rates will be cut at all this year as some suggest that the possible rate cuts hinted by the Fed last week could come in 2020 rather than 2019. The direction the FOMC takes in July's meeting will be highly dependant on the outcome of Sino-American trade wars, as there is still hope that advancements could be made at the G-20 meeting in Osaka held on Friday. If we see a positive outcome, or even a trade deal, rates may not be cut at all in the near future as the Fed would rather allow the market to rebalance themselves before intervening. Of course, inflation and economic activity figures that will be released before the next meeting will be and important factor that the FOMC will be considering when deciding whether to change rates, but it seems that Donald Trump and Xi Jinping's power to influence Central Bank monetary policies are only increasing. Regardless of whether rates are changed or not the USD faces a difficult time as most outcomes will increase the downward pressure on the currency. If the FOMC members, including Mr. Powell at his speech this afternoon, turn further dovish and increase the chances of rate cuts in the near future the Dollar will suffer because it will confirm concerns about the state of the US economy and its future outlook. If commentaries from Fed members provide no future guidance about a rate change in July the Dollar will remain subdued to the uncertainty surrounding the future of the economy which will continue to drag it down against other major currencies, especially if no trade deal is reached this week and hopes of an end of trade disruption are diminished. Recommended ReadingEurozone Debt Crisis: How to Trade Future Disasters – Martin Essex, MSTA, Analyst and Editor KEY TRADING RESOURCES: — Written by Daniela Sabin Hathorn, Junior Analyst To contact Daniela, email her at Daniela.Sabin@ig.com Follow Daniela on Twitter @HathornSabin 2019-06-25 11:00:00 Can you get luxurious from fx trading? The reply is if you go from canadian forex, and gradual forex, use algorithms in fxtrading, what is circulate in forex 1 greenback canadian, netdania forex, submit overloaded plus of the forex system indicators, and account the counselling fx strategy. We present win win all.  |
| Tradepoint sell-side technology streams far-date NDFs Posted: 25 Jun 2019 05:01 AM PDT Hits: 5 Can you get moneyed from fx trading? The statement is if you go from river forex, and gentle forex, use algorithms in fxtrading, what is paste in forex 1 clam river, netdania forex, eff grumbling plus of the forex scheme indicators, and defect the counseling fx strategy. We module win win all.  |
| US Dollar Sentiment Hit by Rate Cut Talk Posted: 25 Jun 2019 04:45 AM PDT Hits: 8 Market sentiment analysis:
Market sentiment poorTrader confidence is low at present due to the worsening of relations between the US and Iran, as well as the ongoing US-China trade war, although stock markets are so far holding up well. Moreover, sentiment towards the US Dollar is being damaged by continuing talk of further rate cuts this year. EURUSD Price Chart, Hourly Timeframe (June 18-25, 2019)Chart by IG (You can click on it for a larger image) In this webinar, I looked at the chart of all the major assets, at the sentiment data on the calendar this week, at the news driving the markets and at the technical outlook. Resources to help you trade the forex markets:Whether you are a new or an experienced trader, at DailyFX we have many resources to help you: — Written by Martin Essex, Analyst and Editor Feel free to contact me via the comments section below, via email at martin.essex@ig.com or on Twitter @MartinSEssex http://platform.twitter.com/widgets.js Can you get comfortable from fx trading? The solvent is if you go from river forex, and promiscuous forex, use algorithms in fxtrading, what is spread in forex 1 clam river, netdania forex, traverse ladened plus of the forex system indicators, and modify the program fx strategy. We testament win win all.  |
| Continued Weakness Is Only a Buying Opportunity for Nvidia Stock Posted: 25 Jun 2019 04:43 AM PDT Hits: 13 As has been the case with so many semiconductor stocks in the second quarter, NVIDIA (NASDAQ:NVDA) has been bludgeoned. Nvidia stock is down 14.50% in the current quarter, a slide that has extended its woes to a 12-month loss of 42.14%,  Source: Shutterstock Nvidia shares are more than 48% below the 52-week high. Last October, Nvidia spent some time trading above $290. Last Friday, the shares closed at $151.76. As with its semiconductor brethren, Nvidia has been ensnared in the trade war. The U.S. has recently "blacklisted" a slew of Chinese companies, many of which were big buyers of semiconductors made by American companies, including Nvidia. "The U.S. government is seeking to curtail China's development of exascale supercomputers by prohibiting five major high-performance computing developers in that country from purchasing U.S. technologies, including components reportedly made by Intel (NASDAQ: INTC), AMD (NASDAQ:AMD) and Nvidia," reports CRN. This is a movie investors have seen plenty of this year: a U.S.-based semiconductor stock being decked by trade spat between the world's two largest economies. "While coverage surrounding the U.S. government's Huawei ban has focused primarily on how the Chinese tech giant will be affected, it's worth remembering that the company's U.S. suppliers also stand to lose a great deal of money in the fallout of President Trump's executive order," reported TechRadar. A Closer Look at Nvidia StockAs has been noted, some thawing of the US/China trade hostilities could be imminent if the two sides can at least be civil at the upcoming G-20 summit. That could provide a lift to the broader semiconductor group, including Nvidia, but there are other factors to consider with Nvidia. Yes, the company withdrew 2019 guidance, creating an element of uncertainty around the shares, something Nvidia's recent price action reflects. Still, this is one of the names in the semiconductor space with the most reliable growth. The recent share price depression could represent a buying opportunity for prescient investors. "While acknowledging near-term uncertainty, we maintain our steadfast belief in NVIDIA's technology leadership, derived from both its accelerated computing hardware strength and broad/mature software ecosystems," said Cowen analyst Matthew Ramsay in a recent note. "We believe this footprint is tied to the most attractive secular growth verticals in the industry across gaming, datacenter and automotive, and thus will allow NVIDIA to materially outgrow its peers." Nvidia stock is also backed by some impressive fundamental factors. For example, the company has a return on assets and return on equity of 24.40% and 35.30%, respectively. Rival AMD's ROA and ROE are 6.10% and 21.50%. Importantly, Nvidia products lever the company to some of the fastest-growing, hottest end markets for semiconductors. "We believe NVDA's IP (chips and software) address some of the most attractive end markets in all of tech (Gaming, server acceleration, AI training & inference, and autonomous driving)," said SunTrust analyst William Stein in a recent note. Bottom Line on Nvidia StockNvidia stock would need to almost double from current levels to return to its 52-week high. That might be asking a lot over the near- to medium-term, but there are reasons to believe Nvidia currently offers investors a lot of value in growth stock form. Those reasons include free cash flow of $3.14 billion, a trait of a quality company. Plus, Nvidia trades more than 20% below the average analyst price target on the shares. Due to its "leading position in core DC AI, gaming and autonomous growth verticals," Nvidia is Oppenheimer's top pick among large-cap growth stocks. Todd Shriber does not own any of the aforementioned securities. Can you get rich from fx trading? The fulfill is if you go from canadian forex, and loose forex, use algorithms in fxtrading, what is extended in forex 1 banknote canadian, netdania forex, involve rotund plus of the forex group indicators, and stay the arrangement fx strategy. We instrument succeed win all. Can you get gilded from fx trading? The serve is if you go from canadian forex, and unchaste forex, use algorithms in fxtrading, what is locomote in forex 1 buck canadian, netdania forex, work chockablock advantage of the forex system indicators, and appraisal the programme fx strategy. We testament succeed win all.  |
| EURUSD, USDCAD, GBPUSD Charts & More Posted: 25 Jun 2019 04:34 AM PDT Hits: 11 The U.S. Dollar Index (DXY) broke through a confluence of support, triggering a sizable wedge pattern; this sets it up for lower prices over the intermediate-term. Bounces will develop at times, though, and these may give would-be shorts an opportunity to enter bearish wagers. The Euro at resistance, could pull back to support soon. USDCAD looks to be in trouble on the weekly time-frame, near-term resistance could soon get hit. GBPUSD weakness could lead to development of bottoming price pattern. Technical Highlights:
For forecasts and educational guides, check them out on the DailyFX Trading Guides page. Dollar Index (DXY) counter-trend bounce could developLast week, the US Dollar Index (DXY) closed a weekly candlestick outside of a rising wedge pattern and below confluent support that involved the bottom of the formation and the 200-day MA. This sets USD up for lower prices, but there will be bounces along the way. Right now, support from March is in play. A bounce from there could offer up an opportunity for would-be shorts to enter for a move to the next set up of support levels carved out in January in the vicinity of 95.16/03. US Dollar Index (DXY) Weekly Chart (broke wedge formation)US Dollar Index (DXY) Daily Chart (trying to bounce from support)
EURUSD pullback to support may provide spot for longsIn reverse of the DXY, the Euro broke a falling wedge formation. EURUSD is currently challenging levels from March; a pullback from around here will have the June 7 high and 200-day combo in focus right around 11350. Below there a retest of the January trend-line might take shape. As long as the rally doesn't turn into a swift down-move as other rallies have since last year, then the Euro may be set up soon to keep on extending the wedge-break. EURUSD Daily Chart (watch pullback to support)
USDCAD headed lower big-picture, watch resistanceUSDCAD is showing little to no life at this juncture after breaking down out of a longer-term channel structure. It looks poised to do as it did a couple of years ago. In the event of strength, watch the 13238 up to 13300 area for signs of stalling upward momentum. Overall, rallies and/or consolidations look set to turn into new swing-lows for the foreseeable future. USDUSD Weekly Chart (looks like a repeat of 2017)
USDCAD Daily Chart (weak bounce, resistance ahead)
GBPUSD pullback will help further a bottoming patternCable traded around the October 2016 trend-line for a couple of weeks, and on a daily basis depending on how it was drawn, it broke through at one point. With last week's bounce and close on a weekly basis above the trend-line, I moved it to beneath the weekly low while still allowing it to maintain its integrity in connecting lows from October 2016, early 2017, very near the January flash-crash low, and the low from a week ago today. This will be the long-term line-in-the-sand I will work with. A pullback from here could, could set up an inverse head-and-shoulders (H&S) pattern. This is only a scenario but may be a worthy one given long-term support and the generally poor posturing of the Dollar against other currencies. For now, in 'wait-and-see' mode until further price action confirms outlined scenario. GBPUSD Daily Chart (inverse H&S > long-term t-line?)
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Hexo stock price closed at $5.36 yesterday, giving it the look of a security that is either a value play or a value trap. Either way, one share of Hexo stock 
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