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Liability

QUANT, scalping heaven turning liability and vice versaUntil recently, Quant, trading pair $QNTUSDT was a scalping heaven with a very predictable chart that allowed easy scalping trades while moving against Bitcoin's trend. All until Bitcoin started side trading movements which completely destabilised Quant, and completely blocked traders funds for more than 48 hours until it started moving again, unfortunately in a downtrend that increased losses even more. Now, QNT started to proceed back into an uptrend after its major pump up from ~95 price area. If Bitcoin continues its uptrend with minor dips, we can see QNT to regain its scalping spot with a trend against BTC. However, it is advisable scalping traders apply extra vigilance as QNT can switch to sideways trading for more than 48 hours.
by UnknownUnicorn35305092
Seek Limited (ASX:SEK) Consolidation on new highs or rejection? Seek Limited is an online employment platform actively used in Australia and Internationally. With the pandemic and the massive slashing of jobs the recovery of covid greatly benefited Seek and is shown through the company share price reaching an all time high again. However to see Seek's future price movement we should look at Technical Analysis as they both tell there own story. On technical terms the current share price is deemed overvalued and is prompting a correction. Bearish Evidence: --> RSI is oversold --> MFI is oversold --> Japanese Bearish Candlestick pattern "Dark Cloud Cover" developed on the 12/04/2021 --> Possible resistance level at past yearly high ($31.79) --> Linear regression oversold (2 Standard Deviations) --> Mean reversion oversold (2 Standard Deviations) Bullish Evidence: --> MACD is still quite Bullish --> Price can consolidate on all time high (>$31.79) and act as support level From a fundamental standpoint Seek's balance sheet is not the healthiest where Short term Assets do not cover short term liabilities aswell as SEK's debt is does not seem to be covered well by its current cashflow. However forecasted annual earnings growth is set at 36% so take its current liabilities amount with a grain of salt. Another interesting thing found researching Seek is the amount of short sales currently active. As off the 6/04/2021 over 4.28% of Seek shares were reported as short positions making it the 27th most shorted company on the ASX. This percentage of shorting for me personally is another bearish signal. Overall from a technical standpoint the overwhelming answer is SEK may be due for another downturn. However if the previous all time high can be broken and then be consolidated on i would consider that a continuation of its bullish movement. For a potential short entry look for price rejection at 31.79 where price opens and closes below the level. Bearish or decreasing volume can also prompt an entry but personally i would ensure that the key level is not broken.
ASX:SEKShort
by Mikey_Scali