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Asian markets fall, ex-China

Wall Street suffered another day of recession fears overnight, with equities slumping once again, relying on Bostic’s comments to salve the wounds and cap US yield rises and the US dollar rally. The S&P 500 retreated by 3.20%, with the Nasdaq slumping by 4.29%, and the Dow Jones losing 1.97%. No sector was spared, notably, and despite high inflation, cash is increasingly becoming King. The rot has stopped in Asia, with US futures attempting to claw back some of the overnight losses as the bottom-feeders come out to play. S&P 500 futures have risen by 0.60%, Nasdaq futures have jumped by 0.95%, and Dow futures have gained 0.45%.

 

In Asia, equity markets initially tumbled in response to the Wall Street moves, in a rerun of yesterday. However, the recovery by US futures this morning seems to have taken the edge of the sell-off, with Asian markets recouping some of their earlier losses. Japan’s Nikkei 225 is now down just 0.44%, with South Korea’s Ko

Investing In Stocks: AMC Entertainment Holdings Stock News and Forecast: AMC drops again, but a bounce may be in the cards

Investing In Stocks: AMC Entertainment Holdings Stock News and Forecast: AMC drops again, but a bounce may be in the cards

FXStreet News FXStreet News 21.04.2022 16:47
AMC stock suffers a sharp 7%-plus fall on Wednesday, closing at $17.34. AMC now accepts Dogecoin and Shiba Inu on AMC's mobile app. AMC stock fell sharply in 2022, down 36% YTD. AMC remains the king of social media, but the stock itself is failing to excite as it suffers a gradual decline in sentiment and strength. AMC stock surged after its investment in Hycroft Mining (HYMC) with AMC stock trading as high as $34.33 at the end of March. Since then it has largely been one way traffic, and as of Wednesday's close AMC stock finds itself almost 50% lower from those highs. The reason as ever can be put down to falling momentum, both in terms of price and social media mentions. Trading AMC and other meme stocks largely concerns momentum trading, so knowing when it is rising and falling is key.   Read next: (XAGUSD) Price of Silver Vs. U.S Yields, Lumber and Corn Futures Dependent on Demand and Supply | FXMAG.COM   Classic signs of rising stock momentum we look for are obvious social media site mentions, volume spikes and price spikes of course. How to spot falling momentum and know when to get out of momentum plays is definitely more tricky. Some obvious signs are falling social media mentions, falling volume and the regular session price not reaching premarket highs. Also the opening price is close to the high of the day, while the closing price is near the low of the day's range. AMC Stock News AMC is a constant near the top of social media mentions, and that has not changed despite the recent price falls. The last major spike was down to the investment in Hycroft Mining (HYMC). This created a frenzy, but another key sign to watch for in momentum plays is when a price spike ends at a lower high than the last price spike. In this case AMC spiked to $34.33, which as we can see from the chart below failed to break the downtrend line. We then saw 13 down days out of the next 16 sessions. AMC not only failed at the downtrend line, it also failed at the 200-day moving average.   Read next: Unexpectedly Gold Price (XAUUSD) Falls, Canada And Chicago - Weather Makes Wheat Futures Fluctuate. The Price Of Palladium - Industrial Activity Is Taking Strain | FXMAG.COM   While many of you are in AMC for more emotional reasons, we would always urge a lack of emotion when trading. This is not an us versus hedge fund crusade or an us versus short seller crusade. This is about making money for yourself, plain and simple. The AMC investment in HYMC was quite small, and despite HYMC stock surging, it was never going to yield significant cash to justify AMC's stock price rising so much. Once momentum dropped off, the resulting fall off was inevitable. AMC Stock Forecast: Expect the bounce Right now, AMC is just testing the $17 support, but this looks more and more like it may break in the near term. Right now though the Money Flow Index (MFI) has moved into an oversold area, but the Relative Strength Index (RSI) is not confirming this move. That makes us cautious of issuing a more bearish call – well, that and the sheer size of the fall over the last two weeks. There is a 50% chance we should see at least some small bounce. AMC stock chart, daily   Read next: ECB Announcements to Possibly Tighten Monetary Policy Strengthens the Euro. EUR/USD, EUR/GBP, AUD/NZD and EUR/CHF All Increased | FXMAG.COM   The short-term, 15-minute chart shows us some key levels for intraday trading. Volume at $17 is high, so this is our support on daily and intraday time frames. AMC can bounce through the volume gap up to $18 where again there is a large equilibrium volume profile. AMC stock chart, 15-minute
USD/JPY Technical Analysis: Awaiting Breakout from Consolidation Range

Asian equities follow Wall Street lower | Oanda

Jeffrey Halley Jeffrey Halley 10.05.2022 11:05
Asian markets fall, ex-China Wall Street suffered another day of recession fears overnight, with equities slumping once again, relying on Bostic’s comments to salve the wounds and cap US yield rises and the US dollar rally. The S&P 500 retreated by 3.20%, with the Nasdaq slumping by 4.29%, and the Dow Jones losing 1.97%. No sector was spared, notably, and despite high inflation, cash is increasingly becoming King. The rot has stopped in Asia, with US futures attempting to claw back some of the overnight losses as the bottom-feeders come out to play. S&P 500 futures have risen by 0.60%, Nasdaq futures have jumped by 0.95%, and Dow futures have gained 0.45%.   In Asia, equity markets initially tumbled in response to the Wall Street moves, in a rerun of yesterday. However, the recovery by US futures this morning seems to have taken the edge of the sell-off, with Asian markets recouping some of their earlier losses. Japan’s Nikkei 225 is now down just 0.44%, with South Korea’s Kospi down 0.47%,   Meanwhile, after a tough session yesterday, the intraday rally in sentiment has pushed mainland China exchanges well into positive territory. The Shanghai Composite and CSI 300 have rallied by 1.0%. Hong Kong was pummelled earlier today but has also recovered somewhat, but it remains 2.25% lower for the day.   In regional markets, Singapore is still down by 1.20%, while Kuala Lumpur is unchanged, and Jakarta has slumped by 2.90% led by resource stocks. Taipei has retreated by 1.65%, while Manila is down 1.0% post-election, with Bangkok managing a 0.30% gain. Australian markets are also in retreat, the ASX 200 and All Ordinaries falling by 1.30%.   What makes the session odd is that markets with a high sensitivity to the China slowdown are the worst performing in Asia today, but mainland equities have rallied. The cynic in me suspects that China’s “national team” are busy today supporting the market, especially as covid-zero policies remain in force and nerves are rising around mainland property developers once again.   European markets will struggle to construct a bullish case today as well, also President Putin not declaring a was on Ukraine at yesterday’s May Day parades could be a straw to grasp. The question is really whether the bounce in US equity futures today is the start of a recovery or merely a corrective bounce to short-term oversold indicators. This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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