Any More Steam Left For XELA?XELA had a great run but is the steam running out? Lower volume day on 7/14 in tandem with the big drop. However, there are a few levels to keep track of. First, the 382 fib line. XELA was denied at this level twice this week with the second time resulting in the breakdown. BUT you've also got the 50 Fib,which has rarely acted as a major support BUT was a significant level of resistance in March and then you've got the 618 fib line, which was a much more consistent resistance level for the stock through the year. Thoughts are that volume could be important to watch as well as certain chart levels. Let's also not forget that these are some of the highest prices and volume that it's seen in some time....why keep that in mind?
"On June 30, 2021, Exela Technologies, Inc., a Delaware corporation (the “Company”), issued a press release announcing the launch of an offering for the sale of shares of the Company’s common stock, par value $0.0001 per share, having an aggregate offering price of up to $150,000,000 (the “Shares”). The Shares will be sold pursuant to the at market issuance sales agreement, dated May 27, 2021 (the “Sales Agreement”), between the Company and B. Riley Securities, Inc. and Cantor Fitzgerald & Co. (each, an “Agent” and, together, the “Agents”). A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K." (app.quotemedia.com)
No further updates on that topic have come up but something to keep in mind if you're watching XELA.
On July 12th, Exela announced that it has expanded its robotic process automation offerings with intelligent document processing. The President of Exela, Suresh Yannamani said, “Exela continues to iterate and advance solutions to meet our customers’ changing needs. The latest IDP and EON combination embraces the evolving work from anywhere environment that customers and their employees are embracing.”
Quote Source: Popular Reddit Penny Stocks to Buy? 4 to Watch As Summer Continues
Financing
FTSE 100 Long Term Long, Dividend Yield > Financing The FTSE 100 is in a "bullish price channel" as it has a positive slope with the upper trend line marking resistance and lower trend line marking support.
We are long the FTSE 100 and the dividend yield for 2019 should be close to 5% which provides positive income for holding the position even through a leveraged product that incurs financing charges (ie: a CFD or spreadbet).
The financing for a leveraged FTSE 100 position is calculated as (Benchmark+spread)*daycount*market value Eg: (0.8185%+2.5%)*(1/365)*7450= 68p per day financing charge on a position of notional value GBP 7,450. This is using the benchmark rate at of GBP 3 month libor of 0.81850% as at the 05.04.19 and a spread of 2.5%.
Therefore holding the position could currently yield around 1.7% (5% dividend yield – 3.3% benchmark + spread). This is evidently not much but useful in building a long term long position and it is important to understand how financing is calculated as well as how it can impact returns.
Additionally, a further potential drop in GBPUSD due to the uncertainty surrounding Brexit could see further upside for the index. This is because such a large proportion of profits for FTSE 100 companies is made in dollars. If sterling weakens then dollar revenues, once converted back into sterling, are worth more.
Trading the Gap binary option strategy for experienced fundamentThe market strives to close the gap
To perform successful Trading the Gap strategy you have to follow close economic calendar and price movements on important economic events.
It does not use any indicators and the trading signal occurs exclusively in the situation on the chart. Below we are going to look in details at the description, as well as the opportunities to open trades.What is a price gap?
In the first place, in order to understand the essence of how this strategy works, it is necessary to make decision on such a concept as the gap. It is the price gap on the chart that may sometimes appear.
Most often it is visible either after holidays, or at the time of important events release. This price gap in most cases is clearly visible, but we should remember that it can only be observed on the candlestick or bar charts.
Why does the gap appear on the chart?
For example, there is some kind of unexpected news or rumor, and the market reacts to it on Monday by the advent of the price gap. The main secret of this strategy is that the market always strives to close the gap.
How to locate a price gap?
Let's turn to the chart. The gap is quite visible but we have specifically noted it for further clarity. As can be seen, the price has grown up after the gap appearance, but it quickly returned and completely blocked the gap.
This is a result of the fact that the price is always striving to handle this situation. Trading the Gap binary option strategy has a small flaw. Closing the gap can occur immediately after it appears in just a few days.
This binary options strategy helps to get trading signals directly from the price chart. You do not need to delve into the details of technical analysis or study any indication. They are just not there. On a completely pure chart, you just need to notice the price gap.
How to open a position when the gap appears on the chart?
It is necessary to wait until the price gap unfolds and then open a trade in the opposite direction from the direction of the gap. On our chart the gap is upward. What should we do in this situation? As can be seen a few candles reversal appears.
Its signal is greatly enhanced due to the fact that the price of a financial instrument will close the price gap.
In this situation, when a reversal of candlestick pattern occurs, you can buy a Put option.
The same applies to situations where the price gap comes down.
Trader should wait for the appearance of a candle on the chart, which would indicate that the market is ready to reverse up and buy a Call option.
On the other side you need to be very experienced in fundamental analysis to easy locate price gaps on important economic events.
