S&P 500 vs. select global equity markets - focus on the period since Aug 2020... compared consistently in $USD terms via US listed ETFs - United Kingdom EWU, Russia ERUS, Brazil EWZ, Hong Kong EWH, India INDA, Australia EWA, New Zealand ENZL - bonus comparisons to Gold, AUD/USD, RUB/USD.
This stock has decent fundamentals with a discounted cash flow valuation at around 70% undervalued at its current price of $1.77 at this time of writing. This company owns hotels all around the world and their market cap is above EV, their Book Value per Share in 2019 is at 6.78 and I suggest you find out the other fundamentals by yourself. Anyways, my opinion is...
the daily chart of this market will experience with a very high probability an uptrend in the next few days but at the same time it is better to be vigilant of the change towards the opposite direction of the market
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📌 In spite of the overshoots to the downside, what we are trading here is a sacrifice... the 'sad tale of the last seller'.
I love it when sellers go overboard.
Threatening to breakdown, without realising the RBNZ has opened the August window for more free money and NZD devaluation via purchases.
The euro occupies the throne in G10 which the dollar has...
📍 RBNZ formula
So what are we trading here?
In this position it would be an obvious mistake to not acknowledge risk sentiment worsening over the weekend as cases continue to escalate, clearly the market is exposed to the storm (that is to say the series of localised lockdowns are a done-deal, the only question remains whether it becomes more widespread).