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CloudMD $DOC.V - Months of selling and consolidation done?CloudMD has been under selling pressure for months now. Today it closed its Vision Pros Acquisition and is expected to close its largest acquisition - Oncidium this month as well. The company can boast a 125-130mil revenue run rate. Vision Pros adds 22 mil in rev and 10% EBITDA margins to the bottom line for CloudMD. I have a position in this company. It has not been an easy 3-4 months. The rest of the week will prove out if this was a one and done green day yesterday or if buyers are serious and ready to take control again. PT on DOC is $3.96. Was a "top pick" on Bloomberg MarketCall June 23rd. At some point the market is going to start respecting that revenue and positive EBITDA that the company is set to report for this full fiscal year. currently trading at 3x sales. This should definitely be on the watchlist now. Look to see Buyers control Price around the 2SD Cross as highlighted. DCA approach the play here. DOC.V is a long hold for myself. Hope the chart and thoughts help. Please do you own DD and follow your own trading rules. Cheers, Luke
DLong
by LeBelleChart
3
USDCAD Buy signal (1 of 3)The Canadian dollar is consolidating at the beginning of the week, forming a sideways trading area. A sell signal from the upper border looks quite strong, but to receive it, you need to wait for an upward impulse to develop. So while a weak BUY signal ======= Low strength buy signal (1 of 3) at the lower border of consolidation (1.2426) Trade target - 1.2480 (54 points of profit) If you liked my selection of signals, then please. Please comment and subscribe to me, or at least put LIKE.
Long
by MichaelKhlestunov
AUDCAD Possible Short SetupAUDCAD is resting in the previous support zone of 0.9518-0.9536. After breaking quickly through this zone by slightly over 60 pips, price slowly made its way back. The 4H chart shows a downward bias as the 20, 50, and 200 period MAs are crossing down. Furthermore, price is resting right at 20 period MA, a great place for a potential reversal downward. I was hoping for a super clean retest here where price bounces off the 50 period or 200 period MA right at my retest zone. However, it doesn't look like we're getting that. As such, I will be taking this trade with a 1% risk instead of my normal 2%. I will personally wait to enter this trade until I see a clear bearish reversal pattern on the 1H chart or some lower lows and lower highs on the 15m. Furthermore, the RBA will be releasing their Rate Statement and Chast Rate tonight at 12:30am Eastern. That makes this a risky entry. However, it is epxected that the cash rate will remain the same through 2023 or so. They may make some changes to QE and curve control, among other things. Ideally, we can get a clean entry before the RBA data is released. Patience is the name of the game, so I will be watching this pair for a solid entry.
Short
by MRobertsTrading
CAD - FUNDAMENTAL DRIVERS1. The Monetary Policy outlook for the BOC: For the past few months, the BOC has been one of the least dovish central banks among the majors. After recent data surprised meaningfully to the upside, market participants have been speculating that the bank will look to taper as soon as the H1 2021. This view was confirmed when the bank announced a discontinuation of their market functioning purchase programs in March. After the most recent batch of econ data (especially jobs data), the market is expecting the bank to announce a reduction in QE purchases as the April meeting. 2. Commodity-linked currency with dependency on Oil exports: Oil staged an unprecedented recovery after hitting rock bottom in 2020. The move higher has been partly driven by (1) supply & demand (OPEC’s production cuts); (2) improving global economic outlook (vaccine roll out and monetary and fiscal stimulus induced recoveries); (3) rising inflation expectations (reflation). Even though further gains will be an uphill battle after the push higher, the bias remains positive in the med-term as long as the supportive factors and drivers remains intact and should be supportive for the CAD in the med-term. 3. Developments surrounding the global risk outlook. As a high-beta currency, CAD has benefited from the market's improving risk outlook over recent months as participants moved out of safe-havens and into riskier, higher-yielding assets. Also, as a pro-cyclical currency, the CAD enjoyed upside alongside other cyclical assets after moving into an early post-recession recovery phase with expectations of global synchronized recovery. Even though the risks remain surrounding the virus and thus global economic outlook, the success of the global vaccination roll out should prove supportive for the CAD.
by thunderpips
3
CAD - CENTRAL BANK ANALYSISObjective: The Bank of Canada Act 1985, requires the BoC's to regulate credit and currency, control and protect the external value of the national monetary unit and to mitigate fluctuations in the general level of production, trade, prices and employment within the scope of monetary action. Since 1991, upon the adoption of inflation targeting, the BoC has also been required to keep inflation within a range of 1-3%. As of February's report, inflation in Canada stands at 1.1% (1.0% prior) while the BoC's core measure slowed to 1.2% from a prior of 1.6%. Canada's other core measures - Median, Trim, Common - printed at 2.0%, 1.9% and 1.3% respectively. Situation: At their March meeting, the BoC left monetary policy unchanged with the Overnight Rate remaining at its record low 0.25%. The BoC refrained from commenting on potential tapering, but stated that they continue to gain confidence in the strength of the recovery and the pace of purchases of government bonds will be adjusted as required. The BoC stated they will continue to provide the appropriate degree of stimulus to support the economic recovery and achieve its inflation objective, stressing there is still considerable economic slack and uncertainty.
by thunderpips
3
CAD - WEAK BULLISHFrom its historic low of -$40.30 on April 20th 2020, WTI saw an unprecedented recovery in the months that followed. Although this recovery became more hard-fought once WTI breached $40 per barrel, gains continued throughout the rest of 2020, breaking above $50 per barrel in the first week of 2021 and a new yearly high of $67.94 on March 8th. Further gains for the commodity are likely to remain an uphill battle; however, with the roll-out of coronavirus vaccines, the bias for WTI should remain to the upside as the vaccine rollout should prove to be a positive factor for the global economic outlook and, hence, the outlook for oil prices. As a commodity-linked currency and Canada's dependence on its oil exports, we expect CAD's fundamental outlook to remain closely tied to the global economic outlook and oil prices. With both of these factors seeing a cautiously positive outlook, CAD holds a weak bullish fundamental bias.
by thunderpips
5
CAD - WEAK BULLISHFrom its historic low of -$40.30 on April 20th 2020, WTI saw an unprecedented recovery in the months that followed. Although this recovery became more hard-fought once WTI breached $40 per barrel, gains continued throughout the rest of 2020, breaking above $50 per barrel in the first week of 2021 and a new yearly high of $67.94 on March 8th. Further gains for the commodity are likely to remain an uphill battle; however, with the roll-out of coronavirus vaccines, the bias for WTI should remain to the upside as the vaccine rollout should prove to be a positive factor for the global economic outlook and, hence, the outlook for oil prices. As a commodity-linked currency and Canada's dependence on its oil exports, we expect CAD's fundamental outlook to remain closely tied to the global economic outlook and oil prices. With both of these factors seeing a cautiously positive outlook, CAD holds a weak bullish fundamental bias.
by thunderpips
2
The Bank of Canada's recent moves on Quantitative EasingOn 23rd March, Bank of Canada announced the discontinuation of market functioning programs introduced during COVID-19, according to the deputy governor Toni Gravelle. MM analysis The discontinuation included the Commercial Paper Purchase Program (CPPP), the Provincial Bond Purchase Program (PBPP), and the Corporate Bond Purchase Program (CBPP), these programs would be deactivated on April and May. In addition, the Bank is announcing changes to its Term Repo operations and the Contingent Term RepoFacility (CTRF). The bank would look at raising its key interest rate from 0.25 per cent, which it doesn’t foresee happening until 2023. The bank of Canada is the first developed country to imply it's end of quantitative easing. The Canadian dollar recorded a slight increase on 23rd March.
by MacroMicro_Global
1
PLTR endurance None of this is a recommendation just my own analysis to where this is going. I am long term/ short term investor with PLTR. My short term goal by Friday is looking like 24.90, which is resistance it seems for this week. Thursday should be the best day for it to hit 24.90 and if not, my fear is the downtrend will roll into next week. Will be watching it carefully tomorrow, Thursday and Friday. April is a demo week and May is financials so as long as we maintain 23 range, I am bullish. Good luck to all.
PLong
by Manu2ca
USDCAD: Support becoming Resistance ?On USDCAD , price is retesting our support which might become a resistance. Although Canada's inflation was worse than expected, but USDCAD failed to bounce back above the support since the USD is under negative pressures as the DXY is also. MACD is making HH while price is making LL. Will it continue it's overall bearish trend ? Or do we have a reversal ? Your decision ! Trade Safe ! If you like the idea, support us with a like and follow MacroForex
Short
by Therealsmaira