Trading Levels

27/02/2024

𝐁𝐢𝐭𝐜𝐨𝐢𝐧 𝐀𝐛𝐨𝐯𝐞 $𝟓𝟓𝐊 𝐆𝐞𝐭𝐬 𝐌𝐚𝐫𝐚𝐭𝐡𝐨𝐧, 𝐑𝐢𝐨𝐭 𝐏𝐥𝐚𝐭𝐟𝐨𝐫𝐦𝐬 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠

On Monday, the leading U.S. indices concluded on a negative note, with the Dow Jones Industrial Average finishing 0.16% down at 39,069.23, the S&P 500 dropping nearly 0.4% to 5,069.53, and the Nasdaq slid 0.13% to 15,976.25.

These are the top stocks that gained the attention of retail traders and investors throughout the day:

Marathon Digital Holdings Inc saw a significant uptick, closing up 21.68% at $29.19. The stock fluctuated between $24.41 and $29.82 throughout the day, with its 52-week range being $5.13 to $31.3. Bitcoin miners like Marathon Digital are riding the wave of Bitcoin’s price surge, with the company poised to report earnings after the market closes on Wednesday. At the time of publishing, Bitcoin traded at $56,455.83, registering an intraday gain of nearly 9.5%.

Riot Platforms Inc also enjoyed gains, closing up 16.97% at $17.37. The stock’s daily high was $17.45, with a low of $14.89, and its 52-week range is $5.16 to $20.65. Riot Platforms, a company associated with Bitcoin mining, saw gains amid a rally in the price of the apex cryptocurrency.

Zoom Video Communications Inc experienced a slight decline, down 0.44% to close at $63.12. The stock moved between $62.95 and $64.32 during the day, with its 52-week range being $58.87 to $76.98. Zoom’s Q4 earnings outperformed expectations, with a notable increase in enterprise customers and the introduction of Zoom AI Companion.

Hims & Hers Health, Inc. climbed 7.67% to close at $10.25. It traded between $9.67 and $10.29, with a 52-week range of $5.65 to $12.34. The company’s Q4 earnings surpassed estimates, driven by a significant increase in subscribers and revenue growth.

Tesla Inc. saw an increase of 3.87%, closing at $199.4. The stock’s intraday movement ranged from $192 to $201.78, with its 52-week range being $152.37 to $299.29. Tesla is set to begin construction of its Gigafactory in Mexico, marking a significant step in its expansion strategy.

23/02/2024

𝐅𝐓𝐗 𝐂𝐥𝐞𝐚𝐫𝐞𝐝 𝐭𝐨 𝐒𝐞𝐥𝐥 𝐈𝐭𝐬 𝐒𝐭𝐚𝐤𝐞 𝐢𝐧 𝐀𝐈 𝐒𝐭𝐚𝐫𝐭𝐮𝐩 𝐀𝐧𝐭𝐡𝐫𝐨𝐩𝐢𝐜

U.S. Federal Judge John Dorsey has permitted FTX to sell its shares in the artificial intelligence firm Anthropic.

20/02/2024

𝐄𝐔𝐑/𝐔𝐒𝐃: 𝐄𝐮𝐫𝐨 𝐄𝐱𝐭𝐞𝐧𝐝𝐬 𝐔𝐩𝐬𝐢𝐝𝐞 𝐭𝐨 𝐇𝐢𝐭 𝟏𝟎𝟎-𝐃𝐚𝐲 𝐌𝐀 𝐚𝐭 $𝟏.𝟎𝟕𝟗𝟎 𝐀𝐟𝐭𝐞𝐫 𝐓𝐡𝐫𝐞𝐞 𝐖𝐢𝐧𝐧𝐢𝐧𝐠 𝐒𝐞𝐬𝐬𝐢𝐨𝐧𝐬

Fed’s meeting minutes on deck for Wednesday are key to gauging central bankers’ mood over the rate-cutting campaign.

The EURUSD kicked off weekly trading on an upbeat note, extending a three-day rise. Eurozone’s currency advanced a tiny 0.1% to hover under $1.08, a level which coincides with the trajectory of the 100-day moving average. A break above it would indicate that bullish efforts may carry the pair higher.

FX markets are watching for the latest from the Federal Reserve. Slated for Wednesday, the US central bank’s meeting minutes will be released, shedding light on what policymakers discussed at their gathering three weeks ago. Back then, markets had a sharp selloff reaction over Fed chair Jay Powell’s remarks.

In other corners of the currency space, a calm opening of the session is unfolding as US traders are breaking for Washington’s Birthday. While stocks won’t open for deals, FX will stay active, likely offering lighter volumes and thinner liquidity. It can only mean one thing – time to get technical.

16/02/2024

𝐁𝐥𝐨𝐜𝐤𝐜𝐡𝐚𝐢𝐧 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲 𝐅𝐨𝐫 𝐕𝐞𝐫𝐢𝐟𝐲𝐢𝐧𝐠 𝐄𝐥𝐞𝐜𝐭𝐢𝐨𝐧 𝐃𝐚𝐭𝐚

Industry experts explain how blockchain-based solutions can be leveraged to verify the authenticity of election data.

13/02/2024

Digital asset investment products recorded $1.1 billion in inflows in the last seven days following a price uptick in the market.

06/02/2024

𝐀𝐌𝐙𝐍: 𝐀𝐦𝐚𝐳𝐨𝐧 𝐒𝐭𝐨𝐜𝐤 𝐉𝐮𝐦𝐩𝐬 𝟖% 𝐀𝐟𝐭𝐞𝐫 𝐓𝐫𝐚𝐝𝐞𝐫𝐬 𝐂𝐡𝐞𝐞𝐫 𝐁𝐮𝐦𝐩𝐞𝐫 𝐐𝐮𝐚𝐫𝐭𝐞𝐫, 𝐑𝐨𝐬𝐲 𝐎𝐮𝐭𝐥𝐨𝐨𝐤

E-commerce and cloud computing powerhouse posted fourth-quarter profit and sales above Wall Street estimates.

Amazon stock AMZN shot up by 8% on Friday as investors celebrated the company’s strong performance for the Holiday quarter. In the three months through December, the e-commerce and cloud computing powerhouse picked up revenue of $170 billion, up 14%, and ahead of consensus views for $167 billion.

Profits were $1 a share, surpassing the 79 cents Wall Street expected. Sales at Amazon Web Services, the company’s cloud computing division and a big profit driver, increased 13% to $24.2 billion. Net income landed at $10.6 billion, trouncing the year-ago $278 million, and topping the previous quarter’s $9.9 billion.

Looking ahead, for the current quarter, Amazon projects revenue to hit as high as $143.5 billion, a 13% increase from a year ago. The share-price leap adds to a 15% year-to-date increase. Earlier this month, Amazon and iRobot parted ways after a long-awaited $1.7-billion takeover of the Roomba maker didn’t pan out as Amazon walked away from the deal.

02/02/2024

𝐑𝐢𝐩𝐩𝐥𝐞 𝐂𝐨-𝐟𝐨𝐮𝐧𝐝𝐞𝐫 𝐇𝐚𝐜𝐤𝐞𝐝 𝐨𝐟 𝐎𝐯𝐞𝐫 $𝟏𝟏𝟐 𝐌𝐢𝐥𝐥𝐢𝐨𝐧 𝐖𝐨𝐫𝐭𝐡 𝐨𝐟 𝐗𝐑𝐏

Ripple executive chairman and co-founder Chris Larsen has taken to social media to clarify reports of the payment protocol being hacked on Wednesday.

30/01/2024

𝐈𝐍𝐓𝐂: 𝐈𝐧𝐭𝐞𝐥 𝐓𝐨𝐩𝐬 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐂𝐚𝐥𝐥 𝐰𝐢𝐭𝐡 $𝟏𝟓.𝟒𝐁 𝐢𝐧 𝐒𝐚𝐥𝐞𝐬, 𝐛𝐮𝐭 𝐒𝐭𝐨𝐜𝐤 𝐅𝐚𝐥𝐥𝐬 𝟏𝟐% 𝐨𝐧 𝐖𝐞𝐚𝐤 𝐎𝐮𝐭𝐥𝐨𝐨𝐤

Chip maker put forward a tepid $12.3 billion to $13.2 billion in first-quarter revenue and that disappointed Wall Street who had bigger hopes.

Intel shares INTC tumbled a hefty 12% on Friday after the semiconductor company delivered strong earnings but failed to carry the optimism over to the current quarter. For the December trimester, Intel earned 54 cents a share, comfortably beating Wall Street’s 45 cents consensus.

Revenue for the world’s biggest maker of computer processors arrived at $15.4 billion, outpacing the $15.2 billion expected by analysts. Challenges for the programmable-chip unit were the reason for Intel to roll back the lofty outlook and present a more ho-hum view of its current-quarter performance.

Intel said it is looking to pick up revenue of $12.3 billion to $13.2 billion for the March quarter, leading to the steep selloff in the stock. The guidance fell short of analysts’ consensus call for $14.2 billion. Shares of the chip maker are down about 9% on the year, floating near the $44 mark.

26/01/2024

𝐔𝐒𝐃/𝐉𝐏𝐘: 𝐃𝐨𝐥𝐥𝐚𝐫 𝐃𝐫𝐨𝐩𝐬 𝐭𝐨 ¥𝟏𝟒𝟕.𝟎𝟎 𝐚𝐬 𝐁𝐚𝐧𝐤 𝐨𝐟 𝐉𝐚𝐩𝐚𝐧 𝐎𝐯𝐞𝐫𝐭𝐮𝐫𝐧𝐬 𝐁𝐮𝐜𝐤’𝐬 𝐌𝐨𝐧𝐬𝐭𝐞𝐫 𝐑𝐚𝐥𝐥𝐲

BoJ decided to keep its notorious interest rates at -0.1% and kept its yield curve control unchanged. The dollar took a tumble.

The USDJPY pair downshifted its rapid rise for a third straight day on Tuesday as early-week dealmaking picked up momentum. The exchange rate has retreated roughly 180 pips from its Friday peak of ¥148.80 as traders reacted to the Bank of Japan’s two-day meeting which wrapped up on Tuesday.

Japan’s central bank said it has decided to maintain its notorious negative interest rate at -0.1%. What’s more, it stuck to its yield curve control policy with a 1%-as-a-reference yield cap to the 10-year government bond. Policymakers also trimmed core inflation forecast to 2.4%, down from an October call of 2.8%.

But it wasn’t the Bank of Japan’s commitment to support its policy which triggered a selloff reaction in the USDJPY. It was the market’s view that Japan will abandon its negative rates regime as early as April. Presently, Japan is the only country to allow negative interest rates and this approach has been suppressing the yen for years.

23/01/2024

𝐄𝐭𝐡𝐞𝐫𝐞𝐮𝐦 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞𝐬 𝐃𝐞𝐧𝐜𝐮𝐧 𝐍𝐞𝐭𝐰𝐨𝐫𝐤 𝐔𝐩𝐠𝐫𝐚𝐝𝐞 𝐨𝐧 𝐆𝐨𝐞𝐫𝐥𝐢 𝐓𝐞𝐬𝐭𝐧𝐞𝐭

Ethereum's Goerli testnet has successfully adopted Dencun network upgrade as the testnet's last upgrade, enabling proto-danksharding.

16/01/2024

𝐃𝐗𝐘: 𝐃𝐨𝐥𝐥𝐚𝐫 𝐈𝐧𝐝𝐞𝐱 𝐃𝐢𝐯𝐞𝐬 𝐁𝐚𝐜𝐤 𝐭𝐨 𝟏𝟎𝟐.𝟎𝟎 𝐀𝐟𝐭𝐞𝐫 𝐈𝐧𝐟𝐥𝐚𝐭𝐢𝐨𝐧-𝐅𝐮𝐞𝐥𝐞𝐝 𝐁𝐮𝐲𝐢𝐧𝐠 𝐒𝐩𝐫𝐞𝐞 𝐖𝐞𝐚𝐫𝐬 𝐎𝐟𝐟

Forex traders shrugged off a hotter-than-expected consumer price figure for December, leading the dollar lower.

The dollar index DXY retreated early on Friday, continuing its decline from a day earlier when a surprise bump in inflation caught forex traders in a limbo. December’s consumer price index showed price pressures reared up again, landing at 3.4% against a 3.2% consensus.

First moves post-news saw the US dollar sprinting fast, gaining around 0.6% to 102.80. By the end of the session, the greenback was back at its opening levels near 102.30. Traders appear to have maintained their firm belief that the Federal Reserve will indeed trim interest rates three times as indicated at the central bank’s final meeting of 2023.

Against that backdrop, the dollar was fairly flat to close the day, after the elevated inflation-fueled whipsawing wore off. The EURUSD pair went back to grind its way toward the $1.10 threshold, and the USDJPY slipped from a one-month high of ¥146.41 to levels around ¥145.40.

12/01/2024

𝐌𝐚𝐧𝐭𝐚 𝐍𝐞𝐭𝐰𝐨𝐫𝐤’𝐬 𝐄𝐭𝐡𝐞𝐫𝐞𝐮𝐦 𝐋𝐚𝐲𝐞𝐫 𝟐 𝐁𝐥𝐨𝐜𝐤𝐜𝐡𝐚𝐢𝐧 𝐄𝐱𝐜𝐞𝐞𝐝𝐬 $𝟖𝟎𝟎𝐌 𝐢𝐧 𝐓𝐕𝐋

Manta Pacific, the native Layer 2 modular blockchain of Manta Network, has witnessed a 65-fold increase in Total Value Locked (TVL) over the last quarter.