Archive for Stock Market News

S&P500 Mini Speculators lifted bullish bets for 3rd time in 4 weeks

May 25th – By CountingPips.comReceive our weekly COT Reports by Email

S&P500 Mini Non-Commercial Speculator Positions:

Large stock market speculators increased their bullish net positions in the S&P500 Mini futures markets this week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.

The non-commercial futures contracts of S&P500 Mini futures, traded by large speculators and hedge funds, totaled a net position of 100,755 contracts in the data reported through Tuesday May 21st. This was a weekly gain of 6,866 net contracts from the previous week which had a total of 93,889 net contracts.

The week’s net position was the result of the gross bullish position (longs) increasing by 1,557 contracts (to a weekly total of 423,907 contracts) while the gross bearish position (shorts) declined by -5,309 contracts for the week (to a total of 323,152 contracts).

The net speculative position rose for the third time out of the past four weeks but for all of those weeks it was because more short positions exited their holdings and not because a big rush of bullish bets come into the market.

Overall, the net bullish position is now at the best level since January 8th when the net position total +131,833 contracts.

S&P500 Mini Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of -57,090 contracts on the week. This was a weekly fall of -8,109 contracts from the total net of -48,981 contracts reported the previous week.

S&P500 Mini Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the S&P500 Mini Futures (Front Month) closed at approximately $2866.00 which was a boost of $26.75 from the previous close of $2839.25, according to unofficial market data.

*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) as well as the commercial traders (hedgers & traders for business purposes) were positioned in the futures markets.

The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators).

Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).

Article By CountingPips.comReceive our weekly COT Reports by Email

VIX Speculators resumed adding to their bearish bets this week

May 25th – By CountingPips.comReceive our weekly COT Reports by Email

VIX Non-Commercial Speculator Positions:

Large volatility speculators increased their bearish net positions in the VIX futures markets this week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.

The non-commercial futures contracts of VIX futures, traded by large speculators and hedge funds, totaled a net position of -105,320 contracts in the data reported through Tuesday May 21st. This was a weekly change of -15,624 net contracts from the previous week which had a total of -89,696 net contracts.

The week’s net position was the result of the gross bullish position (longs) retreating by -15,760 contracts (to a weekly total of 81,190 contracts) while the gross bearish position (shorts) declined by a lessor amount of -136 contracts for the week (to a total of 186,510 contracts).

The net speculative position got back to rising bearish bets after the previous two weeks saw very sharp pull backs (by a total of +90,663 contracts) from the record high short position on April 30th (at a total of -180,359 net contracts).

The VIX speculative standing is now back over the -100,000 net contract level and has been above this threshold for the ninth time out of the past ten weeks. Bearish bets have risen for fifteen out of the past twenty weeks as specs continue to bet on lower volatility.

VIX Commercial Positions:

The commercial traders position, hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 111,379 contracts on the week. This was a weekly boost of 18,404 contracts from the total net of 92,975 contracts reported the previous week.

VIX Futures:

Over the same weekly reporting time-frame, from Tuesday to Tuesday, the VIX Futures (Front Month) closed at approximately $16.27 which was a loss of $-1.80 from the previous close of $18.07, according to unofficial market data.

*COT Report: The COT data, released weekly to the public each Friday, is updated through the most recent Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) as well as the commercial traders (hedgers & traders for business purposes) were positioned in the futures markets.

The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators).

Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).

Article By CountingPips.comReceive our weekly COT Reports by Email

Adelaide Brighton & Medibank Lead Weekly Top Gainers/Losers

By IFCMarkets

Top Gainers – The World Market

1. Adelaide Brighton Limited – an Australian construction company.

2. Medibank Private Ltd – an Australian health insurance company.

market sentiment ratio long short positions

 Top Losers – The World Market

1. Weatherford International Ltd. – an American oil and gas service company.

2. Hertz Global Holdings, Inc. – an American car rental company.

market sentiment ratio long short positions

 Top Gainers – Foreign Exchange Market (Forex)

1. EURGBP, EURAUD – an increase in this chart indicates the strengthening of the euro against the British pound and the Australian dollar.

2. USDTRY, USDSEK – an increase in this chart means the strengthening of the US dollar against the Turkish lira and the Swedish krona.

market sentiment ratio long short positions

 Top Losers – Foreign Exchange Market (Forex)

1. EURRUB, USDRUB – a decrease in these charts indicates the strengthening the Russian ruble against the euro and the US dollar.

2. AUDCAD, AUDUSD – a decrease in this chart means the weakening of the Australian dollar against the Canadian and US dollars.

market sentiment ratio long short positions

Market Analysis provided by IFCMarkets

Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.

Tencent H-0700 Analysis: Slowing sales forecast bearish for Tencent price

By IFCMarkets

Slowing sales forecast bearish for Tencent price

Tencent stock declined after the company forecast slowdown in sales in 2019. Will the Tencent price continue declining?

Hong Kong based media and entertainment group Tencent Holdings forecast sharp slowdown in video advertising sales in China in 2019. Its chief executive officer of video streaming business told Tuesday the growth rate of advertising sales on China’s video platforms would decrease from 37% previously to 19%. Online advertising contributed 13.4 billion yuan ($1.94 billion), or nearly 16% of Tencent’s total revenue in the first quarter of 2019. Gaming, news and video were the largest contributor to sales, accounting for 33% of revenue in the three months to March. Total revenue in the first quarter rose 16% – about a third of its pace in the same period a year earlier and the slowest revenue growth in the first quarter in 15 years. Lower revenue forecast is bearish for Tencent stock price.

H-0700 breached below MA(200) 05/24/2019 Technical Analysis IFC Markets chart

On the daily timeframe the H-0700: D1 has closed below the 200-day moving average MA(200) which is falling. This is bearish.

  • The Parabolic indicator gives a sell signal.
  • The Donchian channel indicates downtrend: it is tilted lower.
  • The MACD indicator gives a bearish signal: it is below the signal line and the gap is widening.
  • The RSI oscillator is rising after failing to breach into the oversold zone.

We believe the bearish momentum will continue after the price breaches below the lower boundary of Donchian channel at 323.15. This level can be used as an entry point for placing a pending order to sell. The stop loss can be placed above the Parabolic signal at 370.48. After placing the order, the stop loss is to be moved every day to the next fractal high, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (370.48) without reaching the order (323.15), we recommend cancelling the order: the market has undergone internal changes which were not taken into account.

Technical Analysis Summary

Position Sell
Sell stop Below 323.15
Stop loss Above 370.48

Market Analysis provided by IFCMarkets

US equities retreat deepened

By IFCMarkets

Dollar weakened on soft housing and manufacturing data

US stock market retreat deepened on Thursday as hopes for near term resolution of US-China tariff dispute dimmed. The S&P 500 fell 1.2% to 2822.24. The Dow Jones industrial average lost 1.1% to 25490.47. Nasdaq composite index dropped 1.6% to 7628.28. The dollar weakened on Markit reports its flash readings of U.S. manufacturing and services indexes declined in May, while new home sales declined 6.9% in April. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, fell 0.3% to 97.846 and is lower currently. Futures on US stock indexes point to lower openings today.

CAC 40 underperforms European indexes

European stocks pullback turned into tumble on Thursday. EUR/USD turned higher while GBP/USD ended flat with both pairs rising currently. The Stoxx Europe 600 index fell 1.4% led by auto maker shares. Germany’s DAX 30 dropped 1.78% to 11952.41. France’s CAC 40 slumped 1.8% and UK’s FTSE 100 lost 1.4% to 7231.34 as Prime Minister May unveiled a “new” Brexit deal widely expected to be rejected by the U.K.’s Parliament.

FR40 falls below MA(50)  05/24/2019 Market Overview IFC Markets chart

Hang Seng leads Asian indexes gains

Asian stock indices are mixed after a sell off on Wall Street overnight. Nikkei slipped 0.2% to 21117.22 as yen continued climbing against the dollar. Chinese shares are higher after President Trump said Thursday the US could ease up on its ban against Huawei as “some part” of a wider trade deal with China: the Shanghai Composite Index is up 0.02% and Hong Kong’s Hang Seng Index is 0.5% higher. Australia’s All Ordinaries Index extended losses 0.6% with Australian dollar little changed against the greenback.

Brent extending losses

Brent futures prices are edging lower today. Prices sank yesterday: July Brent crude dropped 4.6% to $67.76 a barrel on Thursday.

Market Analysis provided by IFCMarkets

Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.

Oncology Vaccine Developer’s Lead Programs ‘On Track or Better’

By The Life Science Report

Source: Streetwise Reports   05/22/2019

The biopharma’s two assets are discussed and Q1/19 financial results are provided in a BTIG research report.

In a May 13 research note, BTIG analyst Thomas Shrader reported that Gritstone Oncology Inc.’s (GRTS:NASDAQ) lead clinical programs, GRANITE and SLATE, are “on track or better.”

As for GRANITE, interim data are expected in Q4/19 from the Phase 1/2 study of GRANITE-001 plus nivolumab/ipilimumab (GO-004), Shrader relayed.

In Part A of the Phase 1 study, patients are getting an adenovirus-based prime with escalating doses of an RNA-based boost vaccine in combination with anti-PD1 therapy. Patients in Part B are receiving the prime and the boost vectors at the selected dose in combination with Bristol-Myers Squibb’s nivolumab + ipilimumab.

GRANITE is assessing patients with advanced solid tumors, including metastatic nonsmall cell lung, bladder, microsatellite stable colorectal and gastroesophageal cancers.

Regarding SLATE, Gritstone intends to submit an investigational new drug application to the U.S. Food and Drug Administration in Q2/19 and follow that in Q4/19 with a preliminary data readout at an annual scientific meeting, indicated Shrader.

In other news, Gritstone reported advances made in predicting HLA-II bound peptide antigens, which “may help augment responses to HLA-I peptides that are at the heart of GRANITE and SLATE,” Shrader pointed out.

MHC-1 peptides are structurally constrained, allowing for straightforward predictions of the peptides that bind to them, the analyst explained. Gritstone’s GRANITE and SLATE vaccines are based on these predictions.

MHC-II peptides, on the other hand, have a binding groove that is open ended, making predications more complex. “As a result, this more challenging calculation seems likely to provide Gritstone the opportunity to leverage its deep-learning algorithms and design best-in-class neoantigen vaccines,” the analyst commented.

Also in the report, Shrader reviewed the company’s Q1/19 results. Net loss was $18 million, more than BTIG’s forecasted $14.1 million. Research and development costs were higher than expected at $15.9 million versus BTIG’s $12.6 million, mostly likely due to increased head count, professional services, and lab supplies and consumables. At the quarter’s end, Gritstone had $132.2 million in cash and equivalents.

BTIG has a Buy rating and a $31 per share target price on Gritstone, whose stock is currently trading at around $10.82 per share.

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Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

Disclosures from BTIG, Gritstone Oncology Inc., Equity Research, May 13, 2019

Analyst Certification I, Thomas Shrader, PhD, CFA, hereby certify that the views about the companies and securities discussed in this report are accurately expressed and that I have not received and will not receive direct or indirect compensation in exchange for expressing specific recommendations or views in this report.
I, Julian Harrison, hereby certify that the views about the companies and securities discussed in this report are accurately expressed and that I have not received and will not receive direct or indirect compensation in exchange for expressing specific recommendations or views in this report.

The research analyst(s) responsible for the preparation of this report receives compensation based upon a variety of factors, including the quality and accuracy of research, internal/client feedback, and overall Firm revenues.

BTIG LLC expects to receive or intends to seek compensation for investment banking services in the next 3 months from: Gritstone Oncology Inc. (GRTS)

BTIG LLC has received compensation for investment banking services in the past 12 months from: Gritstone Oncology Inc. (GRTS)

BTIG LLC had an investment banking services client relationship during the past 12 months with: Gritstone Oncology Inc. (GRTS)

BTIG LLC managed or co-managed a public offering of securities in the past 12 months for: Gritstone Oncology Inc. (GRTS)

( Companies Mentioned: GRTS:NASDAQ,
)

Immuno-oncology Firm to Co-Develop Companion Diagnostic for Cervical Dysplasia

By The Life Science Report

Source: Streetwise Reports   05/22/2019

The partnership news and upcoming data readouts are reviewed in an H.C. Wainwright & Co. report.

In a May 17 report, H.C. Wainwright & Co. analyst Ram Selvaraju reported that Inovio Pharmaceuticals Inc. (INO:NASDAQ) will collaborate with QIAGEN, a molecular testing solutions company, to develop a companion diagnostic test to identify cervical dysplasia patients most likely to respond to VGX-3100, an immunotherapy targeting precancerous lesions.

The liquid biopsy-based test will be based on “novel microRNA biomarkers discovered in the past by Inovio via QIAGEN Genomic Services,” Selvaraju noted. Financial arrangements between the two companies concerning the collaboration have not been released to the public.

“Given QIAGEN’s expertise in precision medicine in immuno-oncology and particularly human papillomavirus (HPV)-related molecular testing, we believe this collaboration is likely to produce a convenient and accurate test that would increase absolute efficacy of VGX-3100 among 30 million HPV-infected women who have progressed to the stage of precancerous cervical lesions,” commented Selvaraju.

Looking further out, Selvaraju highlighted, commercialization of VGX-3100 along with a companion diagnostic test should enhance uptake of the immunotherapy in the market.

In other news, Selvaraju pointed out that the REVEAL Phase 3 trials of Inovio’s VGX-3100 in HPV 16 and 18 are on schedule for data readout in 2020, which means the biopharma could submit a biologic license application to the U.S. Food and Drug Administration in 2021. REVEAL 1 should finish enrollment of 198 patients by mid-2019, and the confirmatory REVEAL 2 began recruiting patients in March 2019. “If approved, VGX-3100 would be the first immunotherapy for women with cervical dysplasia,” the analyst added.

Also noteworthy about VGX-3100 is that it is being evaluated as well, in two Phase 2 trials in HPV-related vulvar and anal dysplasia in the U.S. Interim efficacy results from those studies could be released by year-end 2019. Also, the European Medicines Agency has granted VGX-3100 an advance therapy medicinal product certification for quality and nonclinical data.

Selvaraju indicated that Inovio has multiple other immuno-oncology studies underway with results due to be announced this year. They include the Phase 1/2 study evaluating MEDI0457 in combination with Imfinzi (durvalumab) in metastatic HPV-associated head and neck squamous cell cancer as well as three AstraZeneca studies of MEDI0457 in HPV-associated cancers.

Two others are Inovio’s Phase 1/2 trial of INO-5401 plus INO-9012 in combination with cemiplimab (REGN2810) from Regeneron in glioblastoma and the Phase 1/2a study of INO-5401 plus INO-9012 in combination with Genentech’s Tecentriq (atezolizumab) in bladder cancer. These two trials could release interim results in H2/19. “Positive efficacy data from any of the studies mentioned above could drive the valuation of the company meaningfully higher from the current level,” he wrote.

H.C. Wainwright has a Buy rating and a $13 per share price target on Inovio, whose stock is trading now at around $3.45 per share.

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Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

Disclosures from H.C. Wainwright & Co., Inovio Pharmaceuticals Inc., Company Update, May 17, 2019

Investment Banking Services include, but are not limited to, acting as a manager/co-manager in the underwriting or placement of securities, acting as financial advisor, and/or providing corporate finance or capital markets-related services to a company or one of its affiliates or subsidiaries within the past 12 months.

I, Raghuram Selvaraju, Ph.D. and Yi Chen, Ph.D. CFA, certify that 1) all of the views expressed in this report accurately reflect my personal views about any and all subject securities or issuers discussed; and 2) no part of my compensation was, is, or will be directly or indirectly related to the specific recommendation or views expressed in this research report; and 3) neither myself nor any members of my household is an officer, director or advisory board member of these companies.

None of the research analysts or the research analyst’s household has a financial interest in the securities of Inovio Pharmaceuticals, Inc. (including, without limitation, any option, right, warrant, future, long or short position).

As of April 30, 2019 neither the Firm nor its affiliates beneficially own 1% or more of any class of common equity securities of Inovio Pharmaceuticals, Inc.

Neither the research analyst nor the Firm has any material conflict of interest in of which the research analyst knows or has reason to know at the time of publication of this research report.

The research analyst principally responsible for preparation of the report does not receive compensation that is based upon any specific investment banking services or transaction but is compensated based on factors including total revenue and profitability of the Firm, a substantial portion of which is derived from investment banking services.

The Firm or its affiliates did receive compensation from Inovio Pharmaceuticals, Inc. for investment banking services within twelve months before, and will seek compensation from the companies mentioned in this report for investment banking services within three months following publication of the research report.

H.C. Wainwright & Co., LLC managed or co-managed a public offering of securities for Inovio Pharmaceuticals, Inc. during the past 12 months.

 

The Firm does not make a market in Inovio Pharmaceuticals, Inc. as of the date of this research report.

( Companies Mentioned: INO:NASDAQ,
)

U.S. Biopharma’s ‘Biggest Stock Moving Event’ Imminent

By The Life Science Report

Source: Streetwise Reports   05/22/2019

With study results from this company due out shortly, an analysis of the possible outcomes was provided in a ROTH Capital Partners report.

In a May 17 research note, ROTH Capital Partners analyst Yasmeen Rahimi reviewed possible data readout scenarios of Enanta Pharmaceuticals Inc.’s (ENTA:NASDAQ) Phase 2 respiratory syncytial virus (RSV) challenge and their potential resulting stock reaction. The study results are expected within the next two weeks.

Rahimi outlined that the most likely scenario according to ROTH is that Enanta’s EDP-938 performs superiorly to Johnson & Johnson’s ALS-008176 in terms of reducing viral load and improving symptoms, and thus Enanta’s shares rise 30%.

The reasons for this outcome are that Enanta’s EDP-938, with its mechanism of action, attacks the infection’s root cause, which is replication, thereby allowing for more flexibility in the ideal treatment window. Also, EDP-938’s safety profile affords higher dosing and thus attainment of efficacy. Further, EDP938 pushes for an efficacy at a higher level than other products, leading the virus to clear more quickly and avoid drug resistance.

“We are confident EDP-938 will set the highest efficacy bar in an RSV challenge study, with 90%-plus reduction in viral load compared to placebo (ALS-008176 showed only 73–88% and [Gilead’s] GS-5806 showed 38–67%).

In a second case, Rahimi indicated, results are mixed, in other words viral load is reduced but symptoms do not improve by Day 12. Likely confusing to the Street, this would result in the share price remaining the same or dropping by up to 10%. “We view the bar of EDP-938 is to achieve 10x fold reduction in symptoms,” the analyst wrote.

A third possibility is that EDP-938 fails in either efficacy or safety, the latter being unlikely, the analyst purported.

Rahimi noted that as of March 31, 2019, Enanta had $386.7 million in cash, cash equivalents and short- and long-term marketable securities, “enough to fund business and development programs for the foreseeable future.”

ROTH has a Buy rating and a $130 per share target price on Enanta, whose stock is currently trading at around $90.96 per share.

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Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

Disclosures from ROTH Capital Partners, Enanta Pharmaceuticals Ltd., Company Note, May 17, 2019

Regulation Analyst Certification (“Reg AC”): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.

ROTH makes a market in shares of Enanta Pharmaceuticals, Inc. and as such, buys and sells from customers on a principal
basis.

ROTH Capital Partners, LLC expects to receive or intends to seek compensation for investment banking or other business relationships with the covered companies mentioned in this report in the next three months.

( Companies Mentioned: ENTA:NASDAQ,
)

China Hang Seng Index Collapses and Commodities

By TheTechnicalTraders.com

The Chinese Hang Seng Index collapsed early this week to new recent lows.  This breakdown in the Chinese major stock index highlights the anticipated fallout from the continued US/China trade war.  Recent data from the Chinese property market and corporate bond markets suggest a broad slowdown in economic activity which may surprise many foreign investors in the weeks/months to come.

Partner this continued economic weakness with the EU Elections and the continued US/China trade issues and we almost have a perfect storm for commodities such as Oil, Copper and other industrial/transportation related shares.  If the trade continues to collapse between the US/China while elections cause the general populations to “pause” in traditional spending habits, it would suggest that we could see a continued breakdown in the general commodity levels over the next 6~12+ months.

First, the Hang Seng Index collapsed much lower this week – prompting the US and UK markets to breakdown as well.  The continued rhetoric between the US and China regarding the Trade War is not helping the global economy much.  Yet, it must continue to some conclusion before the planet can begin to move forward.  At this point, it is almost like watching an old school game of” Chicken” – who flinches first.

 

Overnight, the German DAX also collapsed.  It is obvious that enormous tensions persist within the EU with the elections hitting now and over the next few days.  The broader concern for skilled traders is “do you believe the EU will be able to pick up the slack of the US Trade War with China??”  If you honestly believe the EU and other foreign nations will be willing to pick up $400B+ USD of trade immediately, we suggest you grab a cup of coffee and watch what happens over the next few weeks with the EU elections, global markets, and economic data.  We don’t believe the EU is capable of taking on another half-trillion USD in trade debt annually right now, or ever, for that matter.

 

The US Dow Jones Index, even though it has shown some weakness recently, has still held up quite well.  We believe the Capital Shift, where foreign capital has been rushing into the US economy over the past 4+ years, is continuing to provide pricing support for the US stock market and economy.  As long as this continues, we’ll see continued strength in the US stock market and US assets (such as the US Dollar, Real Estate and Debt).

 

Commodities, on the other hand, appear to be under severe pricing pressure.  We recently authored a series of research posts regarding Oil, Gold and other commodities.  We believe the global commodity index could continue to fall further, as these elections and global trade issues continue to exert pricing pressures of global commodities and trade.  We believe Oil could fall back to levels below $50 ppb and that Gold an Silver are already 20~30% undervalued.  One does not need to be hit on the head to understand the US elections, the trade wars and all the other issues currently executing across the planet may create a perfect storm for certain commodities and global stock market sectors driving prices much lower before they get any better.

 

If the Commodity Index breaks the current support level, we could see a much broader breakdown in the global stock market, Oil, Copper, Trade, and many other global trade-related issues (retail, housing, corporate debt, and others).  Pay attention because this is going to get very interesting over the next 4~6+ months.

Lots of great price action unfold to take advantage of. Subscribers just closed out a 24% winner and another 3.46% as the markets prepare for a new move. If you want my trade signals and alerts be sure to check out my Wealth Trading Newsletter.

Chris Vermeulen – TheTechnicalTraders.com

 

 

IFX Analysis: Lower sales forecast bearish for Infineon price

By IFCMarkets

Lower sales forecast bearish for Infineon price

Infineon stock led technology sector rout after news the company had stopped shipments to Huawei. Will the Infineon price continue declining?

infineon Technologies AG stock slump led euro-zone technology retreat on Monday after news infineon had suspended shipments to Huawei following US ban on exports to China’s telecom giant. Couple of weeks before that company’s stock fell after Infineon reported no growth in revenue in the second quarter, though forecast a 5% rise in revenue to 8 billion euros ($8.96 billion) in the year to September 30. Chips used in cars account for more than two-fifths of Infineon’s top selling output, and the company cited weaker Chinese demand for stagnant sales. It forecast “lower than normal seasonal revenue increase int the second half of the 2019 fiscal year”. Lower revenue forecast is bearish for Infineon stock price.

IFX breached support line below MA(200) 05/23/2019 Technical Analysis IFC Markets chart

On the daily timeframe the D-IFX: D1 is below the 200-day moving average MA(200) which is falling. The price has breached below the support line. These are bearish.

  • The Parabolic indicator gives a sell signal.
  • The Donchian channel indicates downtrend: it is tilted lower.
  • The MACD indicator gives a bearish signal: it is below the signal line and the gap is widening.
  • The RSI oscillator is rising after failing to breach into the oversold zone.

We believe the bearish momentum will continue after the price breaches below the lower boundary of Donchian channel at 16.87. This level can be used as an entry point for placing a pending order to sell. The stop loss can be placed above the fractal high at 18.41. After placing the order, the stop loss is to be moved every day to the next fractal high, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (18.41) without reaching the order (16.87), we recommend cancelling the order: the market has undergone internal changes which were not taken into account.

Technical Analysis Summary

Position Sell
Sell stop Below 16.87
Stop loss Above 18.41

Market Analysis provided by IFCMarkets