Monday, November 30

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US Dollar Forecast: USD Faces Immediate Downside Risks on Month-End Flows
Forex News

US Dollar Forecast: USD Faces Immediate Downside Risks on Month-End Flows

USDFUNDAMENTAL HIGHLIGHTS:Month-End Flows Post Short-Term USD Downside Risks Vol Suppression Sees USD Lower US Facing Multi-Year TrendlineMonth-End Flows Post Short-Term USD Downside RisksA liquidity thinned week has had the USD on the backfoot with the greenback now below 92.00. Month-end flows are likely to dictate price action in the USD on November 30th as it had done at the back-end of last week. Several investment bank models have been touting above average USD selling for month-end rebalancing given the outperformance in US equities this month. The S&P 500 has had the strongest month since April with gains of over 11%.S&P 500 Posts Strongest Performance Since AprilSource: RefinitvThe chart below shows the price action in the greenback in the run...
Gold Price Analysis: Is the XAU/USD bull market over?
Commodities

Gold Price Analysis: Is the XAU/USD bull market over?

Last week’s sell-off in gold, which ensued after a breach of the long-term strong support at $1850, raised doubts whether the bull market is nearing an end.Still holding an upbeat outlook on the yellow metal, TD Securities (TDS) Commodity Strategist Daniel Ghali explained that the drivers that pushed gold to new highs back in August are still very much there.Key quotes (via Kitco News)"One way to look at this is to see what drives people to buy or sell gold. When we break that down, it comes down to factors that we can actually see in real-time. Things like the U.S. dollar, real rates, nominal rates, etc.”"The price action in gold right now is entirely inconsistent with what's going on in those other markets. And what that tells us is that it is overwhelmingly driven by positioni...
2 Dividend Stocks To Buy With Improving Book Values, Both From PennantPark
Stock News

2 Dividend Stocks To Buy With Improving Book Values, Both From PennantPark

IntroductionThis article is part of a series discussing how to build a retirement portfolio using general market volatility and business development companies ("BDCs"). Similar to REITs, BDCs are regulated investment companies (RICs) required to distribute more than 90% of their profits and gains to shareholders, avoiding corporate income taxes before distributing to shareholders.This structure prioritizes income to shareholders (over capital appreciation), driving higher yields that currently range from around 7% to 13%. The following yields take into account special/supplemental dividends for 2020.This article discusses PennantPark Investment (PNNT) and PennantPark Floating Rate Capital (PFLT) both of which were founded by Art Penn who also co-founded Apollo Investment (AINV) in ...
Weekend bull trap? Traders remain cautious as Bitcoin price rebounds to $18K
Crypto News

Weekend bull trap? Traders remain cautious as Bitcoin price rebounds to $18K

The price of Bitcoin (BTC) surged above $18,000 on Nov. 29, reaching as high as $18,209 on Binance. However, traders are turning cautious despite BTC’s weekend rally.Bitcoin currently faces resistance at around $18,200, which is also the 10-day moving average (MA) on the daily chart. As Cointelegraph reported yesterday, some traders still anticipate BTC to see another drop in the near term before the rally can continue.BTC/USDT 4-hour chart (Binance). Source: TradingView.comWhy a bull trap for Bitcoin now?A pseudonymous trader known as “Crypto Capo” predicted Bitcoin would see a relief rally to $18,000 as it dropped to the $16,000 region.On Nov. 27, when the price of Bitcoin was still hovering at around $16,700, the trader said he is ready to short $18,000.He added that he i...
Cheap Stocks – 7 Things to Consider Before Investing
Trading Tips

Cheap Stocks – 7 Things to Consider Before Investing

29 April 2019 , Al HillThe phrase cheap stocks just sounds off to me.There are stocks which are undervalued and are awesome companies. Now, these are stocks you will want to invest in over the long haul.Then there are stocks that are just cheap and are cheap for a reason. These are stocks you do not want to stay married to and just need to trade for profits. When I’m saying trade I mean in and out within a few days or even the same day.Well, in this article I will cover some of the most common questions about cheap stocks.#1 – Can You Make Millions on Cheap Stocks?This is a common belief amongst traders. Can I make a ton of cash trading cheap stocks?The answer is yes and no.Let me be the first to tell you that there has not been a Government study on the success rates ...
Rhythm Pharmaceuticals’ IMCIVREE Gets FDA Stamp of Approval; Stifel Boosts Price Target50m
Stock News

Rhythm Pharmaceuticals’ IMCIVREE Gets FDA Stamp of Approval; Stifel Boosts Price Target50m

Rhythm Pharmaceuticals (RYTM) announced on November 27 that the FDA has approved IMCIVREE (setmelanotide) for chronic weight management in adult and pediatric patients age 6 years or older with obesity caused by proopiomelanocortin (POMC), proprotein convertase subtilisin/kexin type 1 (PCSK1) or leptin receptor (LEPR) deficiency, confirmed by genetic testing. In response, shares closed 21% higher on Friday.This approval, which is supported by results from the largest studies conducted to-date in obesity due to POMC, PCSK1 or LEPR deficiency, makes IMCIVREE the first weight management therapy to be approved by the FDA for these rare genetic diseases.“Our first new drug approval is a major milestone for Rhythm, and we look forward to delivering on the promise of IMCIVREE for patients suf...
Zoom investors are looking to a post-pandemic 2021 even with current growth at over 300%
Business news

Zoom investors are looking to a post-pandemic 2021 even with current growth at over 300%

Zoom founder Eric Yuan poses in front of the Nasdaq building as the screen shows the logo of the video-conferencing software company Zoom after the opening bell ceremony on April 18, 2019 in New York City.Kena Betancur | Getty ImagesZoom is poised to show another monster quarter when it reports results on Monday, with sales growth expected to top 300% for a second straight period.But investors of late have been looking past this earnings report, as well as the one after that and even the one after that. It's the back half of 2021 that becomes challenging for Zoom because the company will then have to contend with comparisons to the wild growth periods of the pandemic and surge in remote work.Additionally, a Covid-19 vaccine appears to be on the horizon for 2021. Both Pfizer-Bio...
Top 5 cryptocurrencies to watch this week: BTC, ETH, ADA, XLM, XEM
Crypto News

Top 5 cryptocurrencies to watch this week: BTC, ETH, ADA, XLM, XEM

As Bitcoin price rallied to a new 2020 high, the open interest on CME Bitcoin (BTC) futures rose to $1.16 billion, making it the world’s largest Bitcoin futures market, according to Arcane Research. This suggests that institutional investors are relatively unmoved by the recent sharp correction in Bitcoin price.Guggenheim Partners has become the latest and the largest Wall Street institution that plans to invest in Bitcoin.Guggenheim has sought the Securities and Exchange Commission's (SEC) nod to invest up to 10% of its Macro Opportunities Fund’s net asset value in Bitcoin through the Grayscale Bitcoin Trust. The fund currently has $5.3 billion in assets, hence, Guggenheim may buy $500 million or more worth of Bitcoin.Crypto market data daily view. Source: Coin360The increase in...
Sage Therapeutics Inks $1.5 Billion Development Deal with Biogen; Mizuho Stays Sidelined4h
Stock News

Sage Therapeutics Inks $1.5 Billion Development Deal with Biogen; Mizuho Stays Sidelined4h

Sage Therapeutics uncovered on November 27 that Biogen will get a $650 million stake and make a forthright installment of $875 million as a feature of a consent to mutually create and sell medicines for melancholy and other neurological problems. Portions of SAGE tumbled 8.1% because of the news.According to the arrangement's terms, Biogen will buy about 6.2 million recently gave Sage Therapeutics (SAGE) shares for $104.14 each, mirroring a 26% premium to SAGE's end cost on November 25. Sage will likewise be qualified for up to $1.6 billion in potential achievement installments.This arrangement comes as a feature of Biogen's endeavors to fortify its pipeline with medicines that have blockbuster potential.The arrangement will give Biogen admittance to zuranolone, an oral treatment bei...
How to Trade Head and Shoulders Tops and Bottoms
Suggested, Trading Tips

How to Trade Head and Shoulders Tops and Bottoms

28 April 2019 , Al HillWhat are Head and Shoulders Patterns?Head and shoulders tops and bottoms are reversal chart patterns, which can develop at the end of bullish or bearish trends.Traders like to trade head and shoulders formations as the price targets are very predictable and the formation has an overall high success rate.What do Head and Shoulders Tops Look Like?The formation consists of three peaks, which develops after a strong bullish trend. The first and last peak are approximately the same height and are classified as the shoulders.The second peak is the highest of the three and is classified as the head of the pattern.Head and shoulders tops represent the transfer of power from the bulls to the bears.Please see the below illustration of a head and shoulders ...