Apart from the technical, Iranian issue is also contributing to gold's rise. Momentum is bullish for gold and crude oil. Silver has a lot of potential to rise IF it tries to play catch up with gold. China is trying to mediate for a denuclearization of the Korean peninsula. Developments in Korea will not have any effect on gold or currency markets. One should look for signs of profit taking bef...Read More
Sea's Garena division is expected to launch Call of Duty: Mobile in 3QThe shares of Singapore-based Sea Ltd (NYSE:SE) have tripled in 2019, spiking 6.3% just today to trade at $34.33, earlier hitting an all-time of $34.74. Call traders have been along for the ride, with more than 5,600 long calls initiated during the past 10 days at the International Securities Exchange (ISE), Chicago Board Option...Read More
Sector expert Michael Ballanger reacts to today's Federal Open Market Committee meeting. To the surprise of the many and the chagrin of the few, the Fed opted to do nothing with policy today and left rates unchanged despite clarion calls for a cut. As I wrote about earlier, there was (and is) zero rationale for a rate cut, what with GDP humming along and the best employment numbers in fifty years...Read More
The attention comes ahead of Micron's upcoming earnings reportMicron Technology, Inc. (NASDAQ:MU) is trading down 3.4% today at $33, after J.P. Morgan Securities slashed its price target on the chip stock to $50 from $64. The brokerage firm said it will take the company "some time to normalize" after the U.S. blacklisting of Chinese telecom Huawei, and expressed concern over tough memory chip pric...Read More
FedEx stock has had a volatile year on the chartsShipping concern FedEx Corporation (NYSE:FDX) is down 0.3% at $167.36 today, as traders look to be gearing up for the company's fourth-quarter earnings report, slated for release after the market closes on Tuesday, June 25. Below we will take a look at how FDX has been faring on the charts, and what the options market is pricing in for the security...Read More
Super Mario delivered a surprisingly dovish speech. But he was shortly outshined by Super Jerome. Both key central banks have sent new signals to the markets for interpretation. Let’s read the tea leaves and make sense of the initial reaction in the gold market.Draghi Repeats ‘Whatever it Takes’ In a Mini VersionAs we covered one week ago in the Gold News Monitor, the ECB became...Read More
KTOS has been on a dramatic upswing the past few monthsSan Diego-based Kratos Defense & Security Solutions Inc (NASDAQ:KTOS) is moving lower this afternoon, after tying its decade-plus closing high of $22.78 last night. Last seen down 1.5% at $22.44, KTOS' downtrend may be short-lived, per a fresh bull signal flashing on the equity. Below, we will take a look at recent data from Schaeffer's Seni...Read More
Oil prices are higher on lingering U.S.-Iran tensionsAfter a quiet start, the Dow Jones Industrial Average (DJI) is on track for a record close,as energy stock Chevron (CVX) rallies with oil prices. August-dated crude was last seen up 0.7% at $57.48 per barrel, as tensions between the U.S. and Iran linger. In addition, traders are cheering Vice President Mike Pence's comments of "positive signs" o...Read More
SVB Leerink thinks the penny stock could tripleThe shares of Axovant Gene Therapies Ltd (NASDAQ:AXGT) are soaring today, thanks to some upbeat analyst attention. Specifically, SVB Leerink initiated coverage of AXGT stock with an "outperform" rating and $18 price target -- more than three times yesterday's close of $5.79. The analyst called the shares "undervalued," partly due to "market fixation o...Read More
Australia's Anti-Dumping Commission has ended an investigation into the alleged dumping and subsidization of imports of Turkish-origin rebar, the commission said on Thursday June 20.The investigation, which began in November 2018 after Australian steelmaker Liberty OneSteel filed a complaint, focused on exports from the following Turkish steel mills: ??olakoglu Metalurji, Diler, Habas, Kroman ??el...Read More
CROX could notch its best day in monthsAfter a strong rise up the charts in 2018, Crocs Inc (NASDAQ:CROX) has fallen off a cliff in 2019. More specifically, the shares initially rallied post-earnings in mid-May, rising to around the $31 mark, but it was all downhill from there, diving to the $24 range in the very next session, before hitting fresh lows of $17.53 yesterday. The shares of the footwe...Read More
The Dow stock has closed higher in the last six sessionsAtlantic Equities downgraded Caterpillar Inc. (NYSE:CAT) to "underweight" from "neutral," citing concerns over a potentially slowing global economy. The brokerage firm said it expects "the shares .. to come under the most pressure and lag the average return we see for our overall coverage." Most analysts are already skeptical of Caterpillar,...Read More
Gold has finally broken out to the upside. In Asia trading on Thursday, Gold exploded through the $1360 to $1370 resistance zone and was able to hold the gains throughout the day, closing above $1395/oz. As we pen this article, Gold has to chance to break $1400/oz by the weekend. The close of the month (and quarter) next week will provide an additional clue as to the sustainability of this strengt...Read More
The FDA just gave extended approval for Ocular Therapeutix's post-op eye drugThe shares of Ocular Therapeutix Inc (NASDAQ:OCUL) are making a comeback today, after the drugmaker announced that the Food and Drug Administration (FDA) approved the company's DEXTENZAto treat patients with ocular inflammation following eye surgery. The drug already had approval to treat post-surgery pain in patients. Th...Read More
This is the final article in this Gold analysis series that concludes in a detailed trend forecast for the Gold price into Late September 2019 :Current StateTrend Analysis, MACD, Trend ChannelsSupport / ResistanceSeasonal AnalysisUS Dollar / GoldGold Price Trend Forecast ConclusionGold Stocks This analysis was first been made available to Patrons who support my work: Gold Price Trend Forecast Summ...Read More
Surf City has several seats on the Bus. Do you?Summary: Gold closed at $1348 today according to Stockcharts but is now much higher at $1365 as I write this update. My two longer-term weekly charts on GLD show the potential for a massive upside breakout where price could really run hard & fast. My first chart is a 6 Year weekly showing a massive inverse Head & shoulde...Read More
REGN has had a rough go on the charts long termRegeneron Pharmaceuticals Inc (NASDAQ:REGN) is moving lower this morning, last seen down 0.9% at $317.63, even after the drugmaker revealed positive topline results from a Phase 2 study of its IL-33 antibody in asthma, being developed with Sanofi (SNY). Specifically, the antibody met its main goal of improving of asthma control and its secondary endpo...Read More
Some traders may be showing caution ahead of next week's G-20 meeting The S&P 500 Index (SPX) could be due to pull back today following a run to fresh highs on Thursday. Futures on the Dow Jones Industrial Average (DJI) and Nasdaq-100 Index (NDX) are below fair value, too, with some traders potentially already turning their focus to next week's big G-20 meeting, where President Donald Trump is exp...Read More
In March 1980, the University of Washington installed a seismographsystem designed to monitor earthquake activity in the Cascades, with a focus onincreased seismic activity around Mount St. Helens. Starting just a few days later, a series of earthquakes, smalleruptions, and steam releases took place. Near the end of the month, the peakof the mountain started to open up.But this was only the beginn...Read More
Domestic prices for hot-rolled coil in Turkey have moved down over the week, sources told Fastmarkets on Friday June 21.Fastmarkets' weekly price assessment for Turkish domestic HRC was $500-520 per tonne ex-works on Friday, compared with $520-530 per tonne ex-works a week earlier.Turkish mills have been offering the material at $520-530 per tonne ex-works, while deals and "workable prices" were r...Read More