Low expectations on earnings causing a gap down. Support in the daily is 10.00 Got in at open 9.65 and easily got stopped out at 9.40. Stop was too tight. TP: 10.30
SPWR received $1B financing. This should be the cause of the gap. Trading against the gap. Entry 7.45, Cut 8.20, TP 7.10
Daily resistance at 13.25 and 13.60. Entry at 13.3. TP at 12.80. Cut loss at 13.80. Cause for the gap up is the positive earnings insights on the company.
Daily support at 10.84. Entry near 11.00, TP at 12.20, Cut at 10.80 Gap down was brought about by the news of new issuance of common stock of which $100M has been subscribed. This can be a buy on news trade given that the stock has been down for past 2 days - most probably sold by insiders.
Entry short at 0.645 - 0.675, TP at 0.61 Possible bullish comments by RBA Gov. Rob Lowe for a quick rally up but catalyst for the movement down to 0.61 will still be COVID19 and impact of recent crisis
Short 58.00-58.50 TP 54.00 Technical Levels 58.00 level is confluence of fibonacci numbers - 23.6, 38.2 and 61.8. It is a role reversal resistance as well. Fundamental Catalyst: - Corona Virus fears - Indecisive OPEC and OPEC+ supply cuts - US continuous production of oil Headwinds to Short Position: - Continuing Libyan conflict - Any Middle East...
Short 1.3000 TP 1.26 Near-term support levels: 1.292 1.274 Fundamental catalyst: UK faces uncertainty forming trade deals with EU and with other nations. Moreover, BOE has hinted rate cuts before. They may just do so on their next meeting.
Short 73.4 or 74, TP 71.7 to 69.00 Fundamental Catalyst: - Coronavirus global epidemic affecting China growth and Global growth - Uncertainty of China fulfilling her phase 1 trade deal with US - Phase 2 deal won't happen until after US elections - Rate cutting for RBA is still on the table - Australian bush fires would have some economic impact