NETSOL - initial target of 10% upside
After witnessing a rapid recovery in IT stocks worldwide, especially on the NASDAQ, it seems that a similar trend may be expected in Pakistan's IT sector in the near future. The IT sector is poised to be a significant beneficiary of the current economic environment, with the government likely to provide further tax rebates. Given this outlook, I hold a bullish stance on the IT sector and have identified NETSOL and TRG as top picks.
Currently, NETSOL is trading at $80. I have set an initial target of 10% upside, and once this target is achieved, we can review and discuss the next set of targets.
Please note that the above analysis represents my personal opinion as a financial analyst. It is important to conduct further research and analysis before making any investment decisions.
Technicals
#BABA #ALIBABA LONGALIBABA is nearing support and should be ready for some big upside in the coming weeks/months. Analyst price targets are downside HKEX:72 upside median HKEX:150 and long HKEX:220 , considering the market is a bit shaky and volatile i would be more conscious to the downside and put an even lower downside target of about 45/50 range. however, the recent news coming out of BABA on splitting the business is a very solid news for the stock and is definitely the one to hold on to for big gains.
GBP/USD Trade setup (Short Position) Potential trade setup on the 1-hour timeframe for GU. Price action is creating a nice "expanding bearish triangle" pattern which could make another retest towards the price level (1.24000) before continuing in the sellers direction. Going back to April 10th, you will notice the support that was created multiple times before price created indecision candles closing above & below that support zone. Finally, both EMA's are confirming sellers momentum is slowly shifting over to a bearish selloff. Updates will be posted when price enters our area of interest. Stay tuned.
30 year yield: Bullish as everThe long end yields have been climbing recently and many stock market participants are not recognizing this.
The long end yields market may be signaling to us that inflation is going to be entrenched longer than what mainstream experts are calling for.
On a technical basis the 30 year has now recaptured all the key daily moving averages and looks primed to head higher.
CHTR Potential Trade AlertThis is a top short target. Keep this name on your watchlist as its been lagging the communications sector.
If the communication sector sees weakness which we think it will, this name will be a relative weakness trade to the downside.
Earnings approaching is the major outlier event.
CAD-CHFThe price of this currency pair has been moving in a downward trend on the D1 chart since June 2022. On the H4 chart, the price has reached a resistance level that previously served as an important support level. In addition, the price is very close to the upper line of the descending trend channel, which is another indication of an opportunity to open a SELL position.
Breaking News! Gold just broke a crucial support level (15min)Hello Traders
Tell me what you think about Gold in the comments
Gold has been showing signs of bearish momentum in the 15 min time frame as indicated by the breakout of the support level. This suggests that there may be a potential trading opportunity for sellers in the short term.
Regards,
The Mehdi
BITCOIN What Will Happen Next? Analysis!
Hello,Traders!
BITCOIN did not yet manage
To break the key decisive level
And I think that before the
FED's first rate cut we will
See BTC consolidating
Between the two levels
But after the breakout
And 1W candle closing
Above the level we will be
Able to say that BTC will
Go higher and sky is the limit
Before that and before the
FED acts, I am inclined to
Expect consolidation
Analysis!
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P2P | DXY - Long Term AnalysisGreetings to all who can decode this message lol thank you for tapping in with the content!
This look into #DXY has not changed much from my last few videos, just some minor tweaks. I explain a few things on why I am #bullish on the #dollar and how I plan to #trade opposing pairs like Euro/USD or NASDAQ100.
So yeah gang, not too much to get descriptive over because everything is explained in the video. Enjoy the rest of your week, trade well, and keep crushing it for 2023!
USD-CHFThe currency pair of the franc against the dollar is now moving around an important resistance price level on the H2 chart. Based on the previous move, where the price bounced off the support and started form a short-term uptrend, we think the price could continue to rise and break through the resistance. The target price would be at the next resistance level. In our opinion, an ideal opportunity for a "long" position.
S&P500 Inflection PointThe spy has closed below a key support which has now become resistance. Closing Below this level for 2 consecutive weeks leaves it vulnerable to retracing lower to the next major support. A retrace down to to the major trendline breakout will be very healthy consolidation if it manages to hold that level.
DXY possible breakoutThe DXY is on watch for an hourly breakout.
This is coming on the back of China inflationary numbers.
2.1% YOY inflation
0.8% MOM inflation.
The Month over month came in slightly hotter than expected which could be signaling maybe a hotter US CPI next week.
The China Reopening may be the cause of this.