Get started

Canada

OPEC-JMMC Day: Oil and Loonie – Tentative moves?By Andria Pichidi - November 20, 2018 USDCAD and USOil, H4 and Daily USOil prices reached an overnight high of USD 57.44 per barrel. The 4-day run higher in Oil prices, after a period of sharp declines, has helped the Canadian Dollar find a toehold. The contract has been supported by talk of a proposed production cut into year-end by OPEC and Russia, which was the main drive of yesterday’s sharp move higher, ahead of the December 6 meeting to be held in Vienna. Bloomberg reported that Russia is in wait and see mode with regards to production cuts, quoting Russia energy minister Novak as saying producers need to “better understand both the current conditions and the winter outlook” before agreeing to cuts. WTI crude is softer today, with prices having fallen back to levels just under $57 per barrel, after a 4-day rebound phase. Meanwhile USDCAD has retreated around the day’s Pivot Point at 1.3170 after pegging a 3-session high at 1.3202 yesterday. This puts Friday’s 12-day low at 1.3126 back in the scopes. In the daily time frame, the cross has been seen moving within an ascending triangle since mid October, rebounding yesterday away from its lower trend line. As the price holds above the rising trend line, USDCAD remains in strong bullish sentiment in the medium picture. Only in case of a penetration along with the break of 20-day SMA and 23.6% Fib. level since October’s dip, would it find a Support level within 1 .3065-1.3078 area (38.2% Fib. level and 100-day SMA.) Currently however, the market seems to be in a bullish mode overall, given that USDCAD is still trading above all the daily SMAs and with momentum indicators holding in the positive area. RSI has flattened above neutral and MACD dropped slightly below the trigger line, but remains well above zero line. Hence despite the fact that in the long term bullish bias holds strongly, in the near future, some consolidation is possible based on the flat RSI and small decline in MACD but also on the fact that 100 and 50 day SMA have been flattened in the daily chart. Resistance to the upside is set at yesterday’s high at 1.3200. A jump above this resistance level could meet November’s high of 1.3263 . Further increases could move the price towards the 1.3300-1.3320 area. As CAD and Oil are vulnerable to the possible OPEC plans to cut production, any remarks today from officials attending the OPEC-JMMC meeting, will weigh on the two assets. Nevertheless, BoC Wilkins speaks later today as well. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
Long
by HotForex
USDCAD BOOM BEARISH 90% CONTINUATION FOR 250 PIPSPrice is consolidating in a bearish channel on Daily timeframe where price made a fake bullish breakout of bearish channel then retraced back down closing the weekly inside the bearish channel, anticipating bearish trend to continue down to 1.2900 (tp1) where price breaks level and continues bearish with 1.2572,1.26825, 1.25815 as next target levels, price seems to be retracing bullish which we await a confirmation of bearish trend continuation with our entry points for this setup between 1.2930 - 1.29663 (1.29663 perfect entry with 0 risk) with 75 - 252 pips profit, stoploss 1.29667- 1.30325 (45-75pips from entry) giving 1/5 R:R Pivot 1hr PP- 1.29420 R1- 1.2947 s1- 1.29388 r2- 1.29498 s2- 1.29342 r3- 1.29544 s3- 1.2931 4hr PP- 1.2937 r1- 1.29458 s1- 1.29288 r2- 1.2954 s2- 1.2920 r3- 1.29628 s3- 1.29118 risk only 10% of funds
Short
by Rabo
PONY Can Go Either Way - Wait for the BreakDumped hard from the top of the rising wedge I outlined in my last analysis. Has found some support at one of the previous key demand areas, which coincides with the 78.6% retrace. Looks to have formed a flag now, which can break either way. RSI is near oversold on the daily, but the 4h Stoch is forming a bearish cross. If I had to bet, I'd guess it's going to break down toward the lower support line, but its safer to wait and see how it plays out.
P
by green_brow
1
USDCAD - 20-30% Cyclical Long Trade? 2 Year PlanUSD fundamentals have become interesting with the Fed taking an increasingly hawkish stance with interest rates, unwinding QE, and speaking highly of US economic growth. The US govt's stimulus plans also likely means US debt will increase through sale of more US treasuries, and holding this debt will become more interesting to market participants as wealth preservation suddenly becomes a thing again with the end of NIRP. Other currencies will likely fail to keep up with a strengthening USD, and non-US central banks may even try to cheapen their currencies to favour their trade surpluses. In terms of the technicals, since the beginning of 2016, the USD has been consolidating against CAD, forming a large flag consolidation pattern on the weekly. On the monthly we have a rising wedge pattern, but this pattern is likely to play out further before playing out as a reversal. The trend is clearly in favour of the USD bulls with prices currently trading above the EMA50, with the indicator trading comfortably above the EMA200. The cyclical trade is to the upside. Combined, the fundamental and technical picture points in favour of the USD. The recent US-Canada trade deal also points toward potential weakness for the CAD, as the US has now gained increasing control over Canadian trade and monetary policy (see recent discussions on NAFTA renego and the new terms of the deal). Monthly snapshot: ***This is not investment advice and is simply an educational analysis of the market and/or pair. By reading this post you acknowledge that you will use the information here at YOUR OWN RISK
Education
by Trader6127
USDCAD LONG THE FUCK OUT OUT OF IT.1. Broke through a very strong structure after getting rejected multiple times 2. Increasing upside volume 3. Good RR about 3 4. Higher highs and lower low. 5. Daily time frame shows that the breakout from the main correction trend is still in play. As of now, a potential breakout of a bull flag can be possible. *THUS LONG PULLBACK @1.3085 Fundamentals 1. Bad CAD data today 2. USD has been gaining back some grounds in past 2 days.
Long
by D_Market_Outlook
$HIPH Annces Development of Hydro Infused THC Beverage Prototype$HIPH Released more news today on the development of a Hydro Infused THC Beverage Prototype. The prototype will have a first to market advantage when launched officially. The anticipated launch date for the drink will be Spring of 2019 or sooner. “I am thrilled to announce that after many months of R&D collaboration with our partners, we have a beta version of our LALPINA Hydro Nano-infused THC beverage. Because this is an extension of our existing hydro-nano technology, we anticipate a quicker development process with potential of hitting the market by the first quarter of 2019 or sooner,” stated American Premium CEO Ryan Fishoff. Similar to American Premium’s LALPINA Hydro CBD beverage, the hydro-nano THC beverage will boast an absorption rate of up to 90% higher than conventional THC beverages, which allows the THC to immediately penetrate into the cells, bypassing the bloodstream and creating a more immediate effect. The company is also currently working with Canadian Distributers and US Dispensaries globenewswire.com Several hours later Singlepoint $SING released a news released a PR about the first week of sales for $HIPH "SingleSeed has already received 25 orders for the 12 pack cases of water in the first week. The water has been a nice success so far and has drove sales of other products listed on SingleSeed as well. SingleSeed supplies multiple different hemp-based CBD products. The company is in a perfect position to continue adding relationships for additional distribution of products." Singlepoint's President described his pleasure with how $HIPH has performed thus far since being added to the website: "We are thrilled at this first week of sales results, it has blown away our expectations especially when taking into consideration we have not yet added it to our mix of search marketing, most of the orders have been organic direct search for singleseed.com." finance.yahoo.com
OTC:HIPHLong
by StockGuild
CADJPY Story Intraday (refer to top left chart), price almost touching the weekly range. When that happens, I am biased on a retracement. Mid-term (refer to H4 and D1 chart), price have touched the Monthly projection and tested 87.000 price which was rejected mid May 2018. Plenty of trading plan can be produced from this. Bearish Engulfing Candle on H4 and/or H1 would warrant me to short the pair between Frankfurt open until London Close. A bearish moving average crossover on the 30-min chart during London-US session overlap until London close, would warrant me a scalping trade as well. Anything bullish today, I will observe and re-evaluate. Commodity-backed currencies (Canadian Loonie is one of them) have been well supported after market risk tone shift inspite of the Chine Tariffs was slapped but there was "good news" on the North Korean Nuclear plan issue as well. I am anticipating the market to sell this (fully priced in) eventually and that means dumping commodity currencies. The range projection for this pair is : Monthly = 320 pips Weekly = 160-170 pips Daily = 70-75 pips
Short
by sufiansaid
Tilray most likely to hit ~$174aicody.com Company Summary Tilray, Inc. (NASDAQ: TLRY) is a global pioneer in the research, cultivation, production and distribution of cannabis and cannabinoids currently serving tens of thousands of patients in ten countries spanning five continents. Tilray has reported financial results for second quarter of 2018 and six months ended June 30, 2018. “We are very pleased with our strong start to 2018. Tilray is well-positioned to continue to pioneer the development of the global medical cannabis market and to become a leader in the adult-use cannabis market in Canada,” said Mr. Brendan Kennedy, President and Chief Executive Officer of Tilray. “In the second quarter, we generated significant revenue growth as a result of our global strategy, our multinational distribution network and our commitment to research, innovation, quality and operational excellence. Second Quarter 2018 Financial Highlights Revenue increased to $9.7 (C$12.7) million, up 95.2% compared to the second quarter of last year. The increase in revenue was driven by increased patient demand in Canada, sales to other Licensed Producers and international sales. Total kilogram equivalents sold increased 745 kilograms to 1,514 kilograms, or 97%, compared to the prior year. Average net selling price per gram increased from $6.20 to $6.38 (C$8.12 to C$8.36) for the three months ended June 30, 2017 and 2018, respectively. The increase was primarily due to growth in higher potency product and extract sales, partially offset by an increase in wholesale revenues. Net loss for the quarter was $12.8 million compared to $2.4 million for the second quarter of 2017. Net loss includes non-cash stock compensation charges of $5.6 million compared to a $35 thousand charged in the prior year period. Adjusted EBITDA was a loss of $4.7 million compared to a loss of $1.9 million the second quarter last year. The increased net loss and Adjusted EBITDA decline was primarily due to the increase in operating expenses related to continued growth, expansion of international teams, and costs related to financing and the initial public offering (“IPO”). Business Highlights in 2018 to date: Successfully completed IPO in July whereby 10.350 million shares of Class 2 Common Stock were sold at an initial price to the public of $17.00 per share. The Company received net proceeds of $163.6 (C$216.9) million after the underwriting discount. Net proceeds will be used to fund the build out of cultivation and processing capacity, repay outstanding principal and interest under the Privateer Holdings debt facilities, and for future acquisitions and working capital. Prior to the IPO, completed Series A funding of $55.0 (C$69.2) million from leading institutional investors. Signed agreements to supply cannabis to adult-use consumers in seven Canadian provinces and territories (British Columbia, Manitoba, Nova Scotia, Ontario, Quebec, the Yukon territory and the Northwest Territories). Entered into a strategic agreement with Sandoz Canada, a division of Novartis, to collaborate on the creation and sale of co-branded and co-developed non-combustible medical cannabis products. Signed agreement with Shoppers Drug Mart Inc., Canada’s largest pharmacy chain with more than 1,200 pharmacies and expect to supply Tilray products following approval of Shoppers’ application to become a Licensed Producer. Signed binding letter of intent with Pharmasave, one of Canada’s leading independent pharmacy chains with more than 650 pharmacies, which Tilray anticipates will allow it to supply Pharmasave stores with Tilray products contingent upon a change in laws that permits Canadian pharmacies to distribute medical cannabis to patients. Completed exports to Argentina, South Africa and the United Kingdom, making Tilray products available in 11 countries on five continents. Launched High Park Holdings Ltd., Tilray’s wholly owned subsidiary formed to serve the pending adult-use market in Canada with a broad-based portfolio of cannabis brands and products. Announced the launch of the CANACA™ brand, a new cannabis brand celebrating Canadian roots, values and this historical moment in Canada as the country becomes the world’s first G7 nation to federally legalize cannabis through adult-use legalization. Announced clinical study results of Tilray® 2:100 product showed promise in Canada’s first pediatric study of mixed THC/CBD medical cannabis oil for children with drug-resistant epilepsy. Statistics Shares Outstanding: 76.5M Avg Daily Vol: 8.5M Market Cap: 14.08B 52-Week High: $151.18 52-Week Low: $20.10 Forward PE: NA Annual Div/Dividend Yield: $0.00 / 0.00% Annual Rev: 23.1M Inst Own: 0.0% 1-Month Return: NA 3-Month Return: NA Next Earnings Report Date: 08/29/2018 Earnings ESP: -0.18 Revenue Per Employee: $85,912 Money Flow Ratio: 1.08% Profitability Revenue Growth: 62.5% (Sector Average 3.3%) Gross Margin: 53.0% (Sector Average 62.4%) Return on Equity: NA (Sector Average -19.2%) Net Margin: -52.9% (Sector Average -10.4%) Debt Current Ratio: 1.1 (Sector Average 2.9) Debt-to-Capital: 230.5% (Sector Average 25.8%) Interest Funding: -12.5% (Sector Average 0.3%) Interest Coverage: -11.6 (Sector Average -4.7) Dividend Dividend Growth: NA (Sector Average 5.5%) Dividend Payout: NA (Sector Average 66.7%) Dividend Coverage: NA (Sector Average 2.1) Dividend Yield: NA (Sector Average 0.00%) Top Peer Companies Akcea Therapeutics Inc (AKCA) Akorn Inc (AKRX) American Cannabis Company Inc (OTCMKTS: AMMJ) Amphastar Pharmaceuticals Inc (AMPH) Aphira Inc (TSE: APH) Aurora Cannabis Inc (TSE: ACB) Cambrex Corp (CBM) CannaRoyalty Corp (CNSX: CRZ) Canopy Growth Corp (CGC) Corcept Therapeutics Inc (CORT) Cronos Group Inc (CRON) Emergent BioSolutions Inc (EBS) Hydropothecary Corp (TSE: HEXO) Innoviva Inc (INVA) Maricann Group Inc (CNSX: MARI) Medmen Enterprises Inc (CNSX: MMEN) MedReleaf Corp (MEDFF) OPKO Health Inc (OPK) Pacira Pharmaceuticals Inc (PCRX) Theravance Biopharma Inc (TBPH) VIVO Cannabis Inc (ABCCF) 12 Month Price Target Mean: USD$115.05 High: USD$174.33 Low: USD$90.32 Revenue Growth Revenue increased to $9.7 (C$12.7) million, up 95.2% compared to the second quarter of last year. The increase in revenue was driven by increased patient demand in Canada, sales to other Licensed Producers and international sales. Earnings Surprise Positive (+18.4%)
NASDAQ:TLRYLong
by aicody
2
USDCAD Trading PlanThe fundamentals that move the Canadian Dollar the past week or so were the updates on the NAFTA deal. If a deal struck, Canadian will definitely strengthen. However, the Commodity Market is an important catalyst as well specifically Oil. US-China Trade war somewhat affecting market sentiment and the energy market is no different. The market sentiment at the moment is fragile. Having said that though, technically we have setups and if the market players decided to dump their CAD longs that I would hope will be illustrated in the chart as a bullish engulfing candle, then I will be a CAD Bull. Should there be an update of the NAFTA deal specifically hinting or confirming a NAFTA deal will be struck, I will short the pair and target according to the daily range.
by sufiansaid
The USD Rallies Against CAD on Good US Data and NAFTAUSDCAD has been extremely bullish lately, on extremely strong manufacturing data today. It has retraced all of its losses which were caused by CAD strength due to hopes for successful NAFTA negotiations. Currently, Trump has made numerous hints that Canada may not even be a part of NAFTA anymore, and the Canadian Prime Minister, Justin Trudeau has fired back saying that he’d rather not be a part of NAFTA than have a deal that didn’t benefit Canada. The current price of USDCAD is 1.3178, which is dangerously close to the upper bound of the Kovach Reversals indicator at 1.3186. We should definitely see some resistance at this level. Technical analysis for USDCAD is as follows. Volatility is lower than usual, but not to an extreme. The RSI indicates that we are in a bull trend, but not overbought yet. The MACD is above the signal line, but not to an extreme. This suggests we may have more room to appreciate. USDCAD is under the 50 period SMA, which is currently at 1.31, indicating bearishness. The ADX does not indicate a trend, i.e. we are ranging. Bull Score: 2 Bear Score: 1 Ranging Score: 2 The technical analysis for USDCAD intraday is very strong. We see many indications of a strong bull trend. It would be wise to buy on a dip. The technicals for USDCAD intraday are as follows. Volatility is slightly higher than usual, but not to an extreme. The RSI indicates that we are in a bull trend, but not overbought yet. The MACD suggests that we are in a bullish phase but not overbought yet. USDCAD intraday is above the 50 period SMA by quite a bit, suggesting that we are overbought. Also, USDCAD intraday is above the 100 period SMA by quite a bit, suggesting that we are overbought. Finally, the 50 period SMA is even with the 100 period SMA, indicating longer term ranging. The ADX indicator is at 64, which suggests a strong bull trend for USDCAD intraday. Intraday, the Kovach OBV and the Kovach Chande are quite strong, necessitating that one wait for a pullback before entering a trade in this product.
Long
by quantguy