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GBPJPY – Following Gbp trending is still showing performance to GBPJPY – Following Gbp trending is still showing performance to buy this pair Trend: Strong Buy Support/Resistance: R3: 145.741 R2: 143.270 R1: 140.699 S1: 137.820 Price action: Price hold above trending flow, which will first test Higher High levels and then we'll see if Yen currency will deny again. Buyers are enough confidant to continue trending flow in buy way, but still depending on sellers answer retracement. Potencial trade idea: Bulls targets: T1 = 140.699 T2 = 143.270 T3 = 145.741 NOTE – We are trading GBPJPY via the preferred trading setups by EliteFxAcademy
Education
by EliteFxAcademy
Cannabis headlines - turning bullishThe Cannabis ETF (MJ -4%) is trading at at six-month low as investor hype around cannabis stocks has faded. In a somewhat predictable sell-the-news reaction, the MJ ETF peaked when recreational cannabis went into effect last Fall after staging a massive run leading up to the highly anticipated event. Since then, the onus has been on companies to deliver. Most of them have begun reporting enviably strong sales growth, but the euphoric valuations had priced in a generous amount of future success. Last week, Canopy Growth (CGC) Founder Bruce Linton was ousted from his role as co-CEO. He did a great job scaling the largest cannabis company in the world, but Constellation Brands (STZ) sought a more sound operational manger for the next phase of growth at its multi-billion dollar cannabis investment. This week, CannTrust (CTST) announced that it was non-compliant with certain regulations in Canada, resulting in millions of grams of inventory being put on hold. The stock has nearly been cut in half. The cannabis market is still nascent and the THC and CBD markets have tremendous long-term potential, but unforeseen events are par for the course in the world of business. In hindsight, cannabis stocks were priced for perfection, so it was just a matter of time before sentiment cooled off. Cannabis stocks have pulled back from their aggressive valuations as expectations have been set at a more reasonable level. Headwinds in the form of regulations and capacity constraints appear to be abating as the industry starts to mature. The growth outlook remains very promising. Despite the recent sell off, the leading (largest) cannabis companies Canopy Growth (CGC), Tilray (TLRY) and Aurora (ACB) still trade at ~20x forward revenue estimates. With the backing of Altria (MO), Cronos (CRON) is even more expensive relative to sales estimates while Aphria (APHA) trades at a discount. --- Briefing . com
AMEX:MJLong
by dorfmanmaster
1
[NDX] Nasdaq100 Hinting at Continued SellingNot a whole lot of technical stuff here, ascending wedge is tightening on price range for the Nasdaq100 Futures chart. Which would suggest a breakdown incoming. NDX being a tech sector barometer, has fared better than the SPX and DJI in the recent volatility whipsawing, if it makes lower lows we could see some issues with the rest. Whether this means that this recent bounce would just be a corrective wave B, is unknown. We'll have to see how the next week plays out. Headlines keep whipping markets around day after day, Middle East conflicts, Chinese Trade War, Oil Prices, Tech issues, Tweets, etc. Earnings season is getting started too, but headlines may bury those likely positive fundamentals. Interesting time to observe and learn what traders react to and how. Also checkout the fib retrace levels. If there is a breakdown, it would have to occur soon around the key 50% and 61.8% levels. Which strengthens the technical case for continued decline. Overall though I'm neutral because volatility and news. Let me know if you have any thoughts on this!
CME_MINI:NQ1!
by NYFinancials