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
With each passing Fed meeting, it looks very likely that committee members are going to vote to cut rates by year-end. The question is now, "how many?"The dollar is unloved by its domestic central bank and president, both of which appear to want it lower.Gold has broken out of a 4-year trading range, and the pent-up energy should propel it much higher in the months to come.As opined in m...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
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
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
GLD has been stuck in a trading range for over six years and the area between $127 to $130 can be considered as the upper bound of this trading range.GLD has attempted to break through resistance many times in the previous years and again in 2019, but so far has been unable to do it.Stimulus from the Fed is not necessarily good for GLD because it helps stocks and deprives GLD from the capital it n...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
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
* GRAPHIC-2019 asset returns: (Updates with closing prices)By Eric OnstadLONDON, June 21 (Reuters) - Zinc hit its lowest since earlyJanuary and other industrial metals also fell on Friday asinvestors assessed risks ahead of next week's G20 meeting andrising U.S.-Iran tensions.Base metals had rallied the previous session after the U.S.central bank signalled rate cuts, while U.S. President DonaldTru...Read More
Here Are 3 Hot Things to Know About Stocks Right Now The S&P 500 closed at a record high Thursday, rebounding from a mid-day dip after President Trump hinted at a military strike against Iran in response to the shooting down of a U.S. drone over international waters. Oracle (ORCL - Get Report) rose after the enterprise software company topped analysts' earnings and...Read More
Nenad Kerkez17 hours ago (Jun 20, 2019 8:10 AM GMT)Dear Traders,The Gold has been in a strong uptrend. After a dovish FOMC statement, we might see a save haven flight into Gold, so new highs are possible.The Federal Reserve left its benchmark short-term interest rate unchanged, but FED Chairman Mr. Jerome Powell noted that the U.S. economic outlook is increasingly uncertain, citing trade tensions...Read More
Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 274,63370,31056,655141,993365,848473,281492,813 Change from Prior Reporting Period 24,5194,434-3,1804,27426,10225,61327,356 Traders 20669685559290170 Small Speculators LongShortOpen Interest 52,35532,823525,636 3,3601,61728,973 non reportable positionsCha...Read More
- Richard (Rick) MillsThe US Federal Reserve, the country's central bank, did what many expected on Wednesday, and held interest rates steady, while signaling that a rate cut is on its way. Despite pressure from President Trump to lower interest rates, the Federal Open Market Committee (FOMC) concluded after a two-day meeting that it will stay pat for now, meaning no change to the 2.25% to 2....Read More
Gold finally surged to new bull-market highs this week! Several years after its last bull high, gold punched through vexing resistance after the Fed continued capitulating on ever normalizing. This huge milestone changes everything for gold and its miners' stocks, unleashing new-high psychology fueling self-feeding buying. With speculators not yet all-in and investors wildly underdeploye...Read More
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 & shoulders pattern that is ready to bust out to the upside of the inverse neckl...Read More
By: Ira EpsteinDrone Thursday - 100% July Cut in Rates Priced in - Gold Market is responding to falling dollar, rates, FOMC, drones, safe haven buying roaring into the market.Gold roars higher:Read More