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MongiIG

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  1. GlaxoSmithKline Q2 revenue is expected to show revenue growth from newer drugs partially offset by increased generic competition in older drugs. Source: Bloomberg Shares GlaxoSmithKline Price Revenue Vaccine Earnings before interest, taxes, depreciation and amortization Shaun Murison | Senior Market Analyst, Johannesburg | Publication date: Tuesday 27 July 2021 When is GlaxoSmithKline earnings date? The GlaxoSmithKline (GSK) earnings release date is scheduled for the 28 July 2021. The scheduled results will cover the groups second quarter and half-year earnings. GSK results preview: What does the street expect? While GlaxoSmithKline (in partnership with Sanofi Pasteur) look to stage three trials of their Covid-19 vaccine, the company has not yet released a vaccine to market. The global rollout of Covid-19 vaccines (by competitors) looks to have disrupted the course of other vaccine programmes in key markets such as the US and the UK for GSK. Revenue for second quarter (Q2) 2021 is expected to be bolstered by sales of newer drugs in the respiratory and HIV segments, with a partial offset from older drugs which are finding increased competition through generic offerings. In terms of the upcoming results, a mean of analyst estimates compiled by Refinitiv data arrive at the following: Revenue $10.433 billion (+10.27%) year on year (YoY) Earnings before interest tax depreciation amortisation (EBITDA) $2.855 billion (-8.91% YoY) Earnings per share (EPS) $0.51 (+10.87% YoY) How to trade the GlaxoSmithKline results Source: Refinitiv A Refinitiv poll of analyst ratings arrive have a long term consensus rating of ‘buy’ for GlaxoSmithKline with a target price $47.87. GlaxoSmithKline (ADR) share price: technical analysis Source: IG The share price of GlaxoSmithKline continues to trade in an uptrend which has been in place since the beginning of March 2021. The price has however started to correct from near term highs. The correction sees the price now testing support at the 38.85 level. Traders looking for long entry might prefer to see a bullish price reversal around current levels accompanied by a sharper move out of oversold territory by the Stochastic oscillator. In this scenario, the recent high at 40.55 would become the initial resistance target, while a close below 38.35 could be used as a stop loss consideration for the trade. However should a bullish price reversal not manifest and we see the price move to close below both the 38.85 and 38.35 support levels, this could instead be a suggestion that the uptrend has failed and perhaps a new downtrend for the share price is forming. In Summary GSK reports Q2 2021 results on the 28 July Q2 revenue of $10.433 billion (+10.27% YoY) is expected Q2 EBITDA of $2.855 billion (-8.91% YoY) are expected EPS $0.51 (+10.87% YoY) in the Q2 are expected The average long term broker rating for GSK is a ‘buy’ The share price of GSK is testing support as it finds itself in a short-term correction of a longer-term uptrend
  2. Alibaba continues to enjoy strong revenue and customer growth, but the decline in its stock price reflects a bleaker outlook thanks to the actions of the Chinese government. Source: Bloomberg Shares Alibaba Group China Investor IPO Price Chris Beauchamp | Chief Market Analyst, London | Publication date: Tuesday 27 July 2021 When is Alibaba’s earnings date? Alibaba reports earnings on 3 August, covering its fiscal first quarter (Q1). Alibaba earnings – what to expect Alibaba is expected to report revenue of $32 billion, with earnings per share of $2.24. Alibaba continues to enjoy excellent growth, achieving one billion customers in the 2021 financial year (FY2021), with the vast majority of these based in China. Profit margins and revenues have risen at a steady pace in every year since 2013, at 10% and 23% respectively. However, for Chinese tech shares such as Alibaba, the main concern is no longer business performance, but the attitude of the Chinese government instead. The cancellation of the Ant Financial initial public offering (IPO) and the current clampdown on tutoring stocks points towards a much more restrictive approach to the private sector. As many could have predicted, the culture clash between free market capitalism and the controlling instincts of the Chinese Communist Party has begun anew, with the Party determined to rein in the perceived excesses of the free market. This is a situation unfamiliar to many investors, unused to the impact of government interference on most companies except in relatively isolated circumstances, and accounts for the underperformance of Chinese shares, with Alibaba no exception. Find out more on how to buy, sell, and short Alibaba shares Alibaba broker ratings A total of 17 analysts currently rate Alibaba as a ‘strong buy’, with 30 more at ‘buy’. Three analysts have a ‘hold’ rating, and only one ‘sell’. Alibaba stock – technical analysis The direction in Alibaba stock is clear for the time being. Rallies have been regularly sold, with the latest bounce in late June running into the 100-day simple moving average (SMA), currently 22,225. With the macro outlook so unfavourable the stock continues to reflect investor caution, so it looks like further declines are on the cards as the price targets 18,000 and lower. Source: ProRealTime A solid business, but outlook continues to darken Alibaba has plenty to commend it from a fundamental perspective, but with Beijing adopting an activist position the stock continues to decline. Investors might argue that this means Alibaba is becoming a bargain, but traders will want to see a turnaround in the price, which is unlikely to happen unless the Chinese government reduces its interventions.
  3. EUR/USD, GBP/USD and NZD/USD weaken from Fibonacci resistance EUR/USD, GBP/USD and NZD/USD turn lower after posting a deep 76.4% Fibonacci retracement. Forex NZD/USD EUR/USD GBP/USD Pound sterling Euro Joshua Mahony | Senior Market Analyst, London | Publication date: Tuesday 27 July 2021 EUR/USD turning lower from latest retracement EUR/USD has managed to post yet another 76.4% Fibonacci retracement, with the pair heading lower once again. This highlights how the trend seen over the course of the past two months remains worth following. While the trend is very shallow in nature, that does bring a higher likeliness of a deep retracement. As such, a bearish outlook holds from here, with a push up through the prior swing-high of $1.183 required to negate that downside bias. Source: ProRealTime GBP/USD turning lower after 76.4% retracement GBP/USD has started to lose ground in early trade today, following the rally into the 76.4% Fibonacci resistance level at $1.383. With a wider bearish trend playing out over recent months, there is a good chance we see further downside from here. A rise up through the $1.391 level would be required to negate that outlook. Source: ProRealTime NZD/USD slumps after deep pullback NZD/USD has similarly turned lower after a 76.4% Fibonacci retracement yesterday. The wider downtrend points towards such a move coming into play, with a rise through $0.7045 required to negate that bearish outlook. Until then, further weakness looks likely from here. Source: ProRealTime
  4. Gold falls back into support as Brent crude pushes into Fibonacci resistance Gold falls back into key support, while Brent crude has rallied up into Fibonacci resistance in its bid to regain previous highs. Source: Bloomberg Joshua Mahony | Senior Market Analyst, London | Publication date: Tuesday 27 July 2021 Gold drifts back into key support level Gold has been on the back foot once again, with price moving back into the key $1790 support level. A break below that level would bring a bearish picture into play following a period of consolidation. However, with price typically managing to post a short rebound from this level, it is worthwhile expecting another move higher until we see $1790 break. Source: ProRealTime Brent crude rallies back into Fibonacci resistance Brent crude has been on the rise since a pullback into the wider 76.4% Fibonacci retracement level at $67.60. That rally has brought us back into yet another 76.4% level at $74.12. The wider uptrend points towards a likely push up through this level in a bid to regain the previous peaks of $76.30 and $77.57. However, whether that will come in a straight line remains to be seen. For now, we need to see whether price respects that Fibonacci resistance level or simply pushes through. To the downside, any pullback would need to break the $72.14 level to bring a more bearish short-term outlook. Until then, there is a good chance we see further upside come into play. Source: ProRealTime See opportunity on a commodity?
  5. Astrazeneca Q2 revenue is expected to show strong growth, although an increased cost base will pressure underlying earnings. Source: Bloomberg Shares AstraZeneca Price Revenue Earnings before interest, taxes, depreciation and amortization Technical analysis Shaun Murison | Senior Market Analyst, Johannesburg | Publication date: Tuesday 27 July 2021 When are the AstraZeneca results? AstraZeneca, the biopharmaceutical company, earnings release date is scheduled for 27 July 2021. The scheduled results will cover the groups second quarter (Q2) and half-year earnings. What to expect from AstraZeneca results? While a large Covid-19 vaccine rollout will have boosted revenue for the group, it would have done little for underlying earnings due to the company selling the product as a non-profit item. Consensus estimates derived from Refinitiv data arrives at the following expectations for Q2 of 2021: Revenue $7.530 billion (+20%) year on year (YoY) Earnings before interest tax depreciation amortisation (EBITDA) $2.233 billion (-10.75% YoY) Earnings per share (EPS) $0.93 (-3.01% YoY) What is expected to be accretive to future earnings for the group (although may weigh in the short term) is the groups acquisition of biopharmaceutical business Alexion, which was concluded on 21 July 2021, shortly after the reporting quarter. Find out more on how to buy, sell and short AstraZeneca shares How to trade AstraZeneca results A Refinitiv poll of 29 analysts maintain a long-term average rating of ‘buy’ for AstraZeneca (as of 26 July 2021), with 10 of these analysts recommending a strong buy, 16 recommending a buy, 1 hold, 1 sell and 1 strong sell recommendation on the stock. Source: IG AstraZeneca share price – technical analysis view Source: IG charts The share price of AstraZeneca continues to trade in an uptrend which has been in place since the beginning of 2021. The price has however started to correct from near-term highs. Traders respecting the longer-term uptrend will prefer to keep a long bias to trades targeting a retest of the 8770 level, provided that the price does not move to break the confluence of both trend line and horizontal support at the 7800 level. A break of the 7800 level would instead suggest the uptrend to be broken. In summary AstraZeneca results are scheduled for release on 27 July 2021 Q2 revenue of $7.530 billion is expected Q2 EBITDA of $2.223 billion is expected EPS of $0.93 is expected The average broker rating for AstraZeneca is ‘buy’ The share price of AstraZeneca is currently in a short term correction of a longer-term uptrend
  6. FTSE 100, DAX and Dow head lower as recovery comes into question FTSE, DAX, and Dow head lower, with the breakdown for the DAX potentially laying the groundwork for a similarly bearish move elsewhere. Source: Bloomberg Joshua Mahony | Senior Market Analyst, London | Publication date: Tuesday 27 July 2021 FTSE 100 at risk of downturn The FTSE 100 has started the day on a negative footing, with the index heading back towards the key 6979 swing-low. Coming off the back of a deep retracement above the 61.8% threshold, a break back below that support level points towards a potential period of weakness coming into play. As such, watch out for whether that 6979 level breaks as a gauge of sentiment for the day ahead. Source: ProRealTime DAX on the slide after breaking support The DAX has already broken through the key 15542 support level, following a rally up through the 76.4% Fibonacci threshold. There is a good chance this move lower will provide a retracement of the latest rally rather than an all-out capitulation. However, the break below 15542 does point towards a heightened chance of near-term downside, with a bearish view in play unless price rises through the 15641 level. Source: ProRealTime Dow Jones turns lower after record high The Dow is similarly on the back foot in early trade, coming off the back of a rise into record highs. That intraday uptrend remains intact unless price falls back below the 34760 swing-low. Such a breakdown would point towards a potential retracement of the rally from 33740. However, for now we need to see whether or not price ends this intraday uptrend by breaking 34760 as a gauge of sentiment. Source: ProRealTime
  7. (Bloomberg) -- European Central Bank policy makers have acknowledged that their new push to boost inflation expectations could take quite a while to kick in, according to officials familiar with the discussions. In its strategy review this month, when it raised its inflation goal and acknowledged that it might overshoot, the ECB’s Governing Council discussed the experience of the U.S. Federal Reserve, the officials said. U.S. expectations -- a critical signal of future price gains -- were slow to move last August when the Fed adopted average inflation targeting and said it was willing to overshoot its 2% target. They only started to gather pace months later when the incoming Biden administration started to discuss a fiscal boost to the economy. They accelerated again early this year when the Fed kept policy loose despite price growth jumping well above 2% on soaring demand. While expectations have eased since May as Fed officials started to broach the topic of tapering stimulus, they remain relatively robust. Likewise, there was little impact on euro-area expectations or bets on interest-rate hikes even after the ECB followed up on its strategy review by strengthening its commitment to keep borrowing costs low. The Fed’s experience should help soothe any concerns at the ECB about the largely ambivalent response by investors and economists last week. Analyst reports mostly described the new language and President Christine Lagarde’s press conference as dovish but short on specifics. “It is hard to see a meaningful impact on near-term growth and inflation dynamics from the promise to hike rates a little later,” Oliver Rakau, an economist at Oxford Economics, said in a report. “We continue to think that some near-term policy response, such as an immediate increase in quantitative easing, would have benefited the credibility of the new strategy.” An ECB spokesperson declined to comment on the Governing Council’s deliberations. The central bank’s strategy review saw the inflation goal lited to 2% from “below, but close to, 2%.” In the policy decision two weeks later, policy makers said interest rates will stay at present or lower levels until inflation projections are in line with the target “well ahead” of the end of the forecast horizon, a period that can stretch as much as three years into the future. They also said inflation projections must stay in line with the goal until the end of the horizon, and be supported by “sufficiently advanced” underlying price dynamics. Germany’s Jens Weidmann and Belgium’s Pierre Wunsch objected because they saw the guidance as an overly long-term commitment. What Bloomberg Economics Says... “Achieving that goal remains a distant prospect and -- without additional policy support -- it sounds like little more than wishful thinking.” -David Powell and Maeva Cousin. To read their report, click here The boost from fiscal spending in the U.S. will resonate with Lagarde, who has repeatedly urged national governments not to withdraw pandemic support too soon. She said last week that “ambitious, targeted and coordinated fiscal policy should continue to complement monetary policy.” While joint fiscal support is underway with the European Union’s 800 billion-euro ($944 billion) recovery fund, governments will invest those funds over several years. EU rules on debt burdens and deficits are currently suspended, but only until the end of next year, and politicians in some countries are already starting to talk about the need to rein in borrowing. If the U.S. is a guide, that could slow the return to price stability, and the longer it takes, the greater the chance that the credibility of the ECB’s new strategy and guidance is eroded. Before last week’s decision, the central bank was projecting inflation will average just 1.4% in 2023. Professional forecasters reckon it’ll only be at 1.8% in 2026. “I think the ECB will be tested in a very different manner,” said Patrick Krizan, an economist with Allianz (DE:ALVG) SE in Munich. “The Fed was tested on the upside. And the ECB will be tested on the downside.” ©2021 Bloomberg L.P. 27th July 2021. Investing.com
  8. By Tyler Yell, CMT, Currency Strategist. 27th July 2021. DailyFX When your forex trading adventure begins, you’ll likely be met with a swarm of different methods for trading. However, most trading opportunities can be easily identified with just one of four chart indicators. Once you know how to use the Moving Average, RSI, Stochastic, & MACD indicator, you’ll be well on your way to executing your trading plan like a pro. You’ll also be provided with a free reinforcement tool so that you’ll know how to identify trades using these forex indicators every day. Find the best trading ideas and market forecasts from DailyFX. THE BENEFITS OF A SIMPLE STRATEGY Traders tend to overcomplicate things when they’re starting out in the forex market. This fact is unfortunate but undeniably true. Traders often feel that a complex trading strategy with many moving parts must be better when they should focus on keeping things as simple as possible. This is because a simple strategy allows for quick reactions and less stress. If you’re just getting started, you should seek the most effective and simple strategies for identifying trades and stick with that approach. DISCOVER THE BEST FOREX INDICATORS FOR A SIMPLE STRATEGY One way to simplify your trading is through a trading plan that includes chart indicators and a few rules as to how you should use those indicators. In keeping with the idea that simple is best, there are four easy indicators you should become familiar with using one or two at a time to identify trading entry and exit points: Moving Average RSI (Relative Strength Index) Slow Stochastic MACD Once you are trading a live account a simple plan with simple rules will be your best ally. USING FOREX INDICATORS TO READ CHARTS FOR DIFFERENT MARKET ENVIRONMENTS There are many fundamental factors when determining the value of a currency relative to another currency. Many traders opt to look at the charts as a simplified way to identify trading opportunities – using forex indicators to do so. When looking at the charts, you’ll notice two common market environments. The two environments are either ranging markets with a strong level of support and resistance, or floor and ceiling that price isn’t breaking through or a trending market where price is steadily moving higher or lower. Using technical analysis allows you as a trader to identify range bound or trending environments and then find higher probability entries or exits based on their readings. Reading the indicators is as simple as putting them on the chart. TRADING WITH MOVING AVERAGES One of the best forex indicators for any strategy is moving average. Moving averages make it easier for traders to locate trading opportunities in the direction of the overall trend. When the market is trending up, you can use the moving average or multiple moving averages to identify the trend and the right time to buy or sell. The moving average is a plotted line that simply measures the average price of a currency pair over a specific period of time, like the last 200 days or year of price action to understand the overall direction. LEARN FOREX: GBPUSD DAILY CHART - MOVING AVERAGE You’ll notice a trade idea was generated above only with adding a few moving averages to the chart. Identifying trade opportunities with moving averages allows you see and trade off of momentum by entering when the currency pair moves in the direction of the moving average, and exiting when it begins to move opposite. TRADING WITH RSI The Relative Strength Index or RSI is an oscillator that is simple and helpful in its application. Oscillators like the RSI help you determine when a currency is overbought or oversold, so a reversal is likely. For those who like to ‘buy low and sell high’, the RSI may be the right indicator for you. The RSI can be used equally well in trending or ranging markets to locate better entry and exit prices. When markets have no clear direction and are ranging, you can take either buy or sell signals like you see above. When markets are trending, it becomes more obvious which direction to trade (one benefit of trend trading) and you only want to enter in the direction of the trend when the indicator is recovering from extremes. Because the RSI is an oscillator, it is plotted with values between 0 and 100. The value of 100 is considered overbought and a reversal to the downside is likely whereas the value of 0 is considered oversold and a reversal to the upside is commonplace. If an uptrend has been discovered, you would want to identify the RSI reversing from readings below 30 or oversold before entering back in the direction of the trend. TRADING WITH STOCHASTICS Slow stochastics are an oscillator like the RSI that can help you locate overbought or oversold environments, likely making a reversal in price. The unique aspect of trading with the stochastic indicator is the two lines, %K and %D line to signal our entry. Because the oscillator has the same overbought or oversold readings, you simply look for the %K line to cross above the %D line through the 20 level to identify a solid buy signal in the direction of the trend. TRADING WITH THE MOVING AVERAGE CONVERGENCE & DIVERGENCE (MACD) Sometimes known as the king of oscillators, the MACD can be used well in trending or ranging markets due to its use of moving averages provide a visual display of changes in momentum. After you’ve identified the market environment as either ranging or trading, there are two things you want to look for to derive signals from this indictor. First, you want to recognize the lines in relation to the zero line which identify an upward or downward bias of the currency pair. Second, you want to identify a crossover or cross under of the MACD line (Red) to the Signal line (Blue) for a buy or sell trade, respectively. Like all indicators, the MACD is best coupled with an identified trend or range-bound market. Once you’ve identified the trend, it is best to take crossovers of the MACD line in the direction of the trend. When you’ve entered the trade, you can set stops below the recent price extreme before the crossover, and set a trade limit at twice the amount you’re risking.
  9. SINGAPORE (Reuters) - The U.S. dollar hovered below recent peaks on Tuesday, as investors turned to this week's Federal Reserve meeting for clues on the policy outlook, while cryptocurrencies pulled back sharply from an attempt to break out of a monthslong range. The dollar held at $1.1809 per euro in Asia, finding support after a small dip on Monday. It bought 110.18 yen and the Australian and New Zealand dollars held onto small gains made Monday. The greenback has been rising broadly for more than a month as markets have become wary of the Fed starting to taper its monetary support. Investors turned long dollars for the first time since March 2020 last week, positioning data shows. The Fed meeting is on Wednesday and the focus is on discussions around bond purchases and insight into the bank's comfort with surging inflation, with the upshot for currency markets not clear cut. Commonwealth Bank of Australia strategist Joe Capurso said a hint that tapering could soon begin would lift the dollar. Steve Englander, head of G10 FX research at Standard Chartered (LON:STAN), however, said that a steer on the Fed's thinking about a sharp but likely transitory jump in inflation will be just as important. "We expect that Fed Chair (Jerome) Powell will convey more patience than many recent Fed speakers about bringing inflation lower, as long as domestic economic conditions still point to labour market slack," said Englander in a note to clients. "A dovish lean by Powell will likely push up longer-term interest rates ... because of a rally in inflation breakevens and a reduction in market fears about slower medium-term growth. "Paradoxically, this is likely to be dollar-negative because global uncertainty on the policy response to higher inflation would be reduced," said Englander. A tick higher in inflation expectations on Monday pushed U.S. 10-year real yields to a record low of -1.123%, which also contributed to overnight softness in the dollar. The U.S. dollar index fell 0.3% on Monday and was last steady at 92.600. Elsewhere, concern at the spread of the Delta coronavirus variant and jitters in China's stock market kept trade cautious during Asia hours. The risk-sensitive Australian dollar was steady at $0.7382 and the kiwi held around $0.7000. Sterling was above its 20-day moving average and near a one-week high at $1.3827 as early data seemed to show an ebb in surging COVID-19 cases in Britain in spite of the removal of many social curbs last week. The Chinese yuan has held up despite turmoil in equities and was steady at 6.4760. Bitcoin dropped sharply to $37,000 from a Monday peak above $40,000 after Amazon.com (NASDAQ:AMZN) offered a qualified denial of a weekend news report that said it was preparing to accept cryptocurrencies. "Speculation that has ensued around our specific plans for cryptocurrencies is not true," said a company spokesperson. "We remain focused on exploring what this could look like for customers shopping on Amazon." By Tom Westbrook, 27th July 2021. Investing.com
  10. Taking a look at the economic calendar, it is set to be a busy week for the forex market. There’s a central bank rate decision, GDP, inflation and employment reports scheduled for release. A number of big tech companies have earnings reports and, with U.S. stocks hitting a new record high on Monday, investors will be watching those results carefully as major disappointments could trigger widespread profit-taking. Here are the 10 most important things to watch this week: 1. U.S. Federal Reserve monetary policy announcement 2. Big Tech Earnings 3. U.S. Q2 Advance GDP 4. EZ Q2 Advance GDP 5. Canada GDP 6. Eurozone CPI 7. Australian CPI 8. Canadian CPI 9. Germany’s Employment Report 10. U.S. Personal Income & Spending Full article by Kathy Lien, 26th July 2021. Investing.com
  11. For more up to date news on how markets will open, the latest earnings and economic news, watch IGTV live in the platform at 07:30am UK. Today’s coverage: GBR remains 5th in medal table after US JPN CH ‘ROC’ Indices: Europe consolidating around Monday’s highs as all e Wall St indices hit record highs. Asia sees another record high for ASX but HSI strikes Nov 2020 lows on China crackdown FX: USD lower ahead of durable goods today sending GBPUSD to 8 day high. EURUSD defends 177.72 support again Equities: TSLA up 3.2% after Q2 last night. MC strong leather good sales, Awaiting RB RCH & FGP at 7amUK and MSFT AAPL GOOG & AMD after the US close tonight Commods: Gold hovering at Monday’s close at lowest level since 7 July. Oil 10day high
  12. With Virgin Galactic’s Q2 earnings in sight, we explore what investors and traders need to know. Source: Bloomberg Shares Virgin Galactic Human spaceflight Flight Spacecraft IPO Jeremy Naylor | Writer, London | Publication date: Monday 26 July 2021 When does Virgin Galactic report earnings? Virgin Galactic Holdings Inc (SPCE:US) reports financial results for quarter two (Q2) of 2021 following the close of the US markets on 5 August. The release comes at an interesting time, for the business, having achieved the major milestone by undertaking the first civil passenger flight to brush space. What does Virgin Galactic do and what should traders be looking for? Virgin Galactic pitches itself as a vertically integrated aerospace and space travel company, pioneering human spaceflight for private individuals and researchers. It manufacturers its own air and space vehicles and will continue to refine spaceflight systems designed to offer space travel to private individuals. Having achieved history, on 11 July this year, as being the first space flight to lift-off with private passengers aboard and being designed with the specific job of opening up space travel to private citizens, the work now really begins. Founder Sir Richard Branson was aboard the flight to witness the experience. What to expect in Q2 The costs associated with pioneering space travel are so immense, it is difficult to accurately predict, on a quarterly basis, what to expect. However, what we do know is that, going into Q2, back on 1 April 2021, the company had cash and cash equivalents of $617 million, but recorded a quarter one (Q1) net loss of $130 million. That compared favourably to the same period last year when it published a loss of $377 million. Clearly, this first space trip, in Unity22, as the reusable space craft is called, was always going to be disproportionately expensive. However, the business model is now to work on a commercially competitive package for people to fly over the margin of earth’s atmosphere up into space. In an effort to move ahead with the plan, Virgin Galactic is going to need considerably more money. To this end the company announced plans to sell $500 million of stock, which came the day following the inaugural flight. This wiped $1 billion off the company’s value, immediately, taking its market capitalisation down to $7.4 billion. How to trade the stock Source: IG Shares of the space tourism pioneer, which went public in October 2019, at $11.79 per share via a reverse merger, not a traditional initial public offering (IPO), have had the proverbial rollercoaster ride. Investors and traders need to know that volatility in the stock is to be expected. The company is a cash gobbler and it is inevitable that there will be unexpected hurdles along the way in the tight schedule it has set itself. Moving from left to right across the chart, the stock price saw the first big leg up just ahead of the point at which the Covid-19 pandemic struck. At the time there was the statement that, assuming that launch occurs as planned, management projected that the company would reach profitability in 2021. Thereafter, a disappointing delay to a space flight saw a stock pull-back, then came the bold prediction of space flight within the year saw a 175% rise in just four weeks at the start of 2021. A delay to earnings brought about another wobble, but traders and investors need not have worried as the release date thereafter saw a 300% rise in just six weeks. Will the company now be able to provide a clearer picture of how the remainder of this year develops, will it be able to share its vision for the second half with any clarity from within the Q1 earnings release? It really is down to your own personal view as to whether the whole venture will succeed. Find out more on how to buy, sell and short Virgin Galactic shares Virgin Galactic shares: where next? Branson, a master of publicity, timed the first manned spaceflight to steal a march on his arch rival, Amazon founder Jeff Bezos, for maximum impact. But Bezos, in his Blue Origin rocket, went further and has a more detailed plan for commercial space travel. How it will all end for each remains to be seen, but the bottom line is that, to succeed, each will need a steady stream of people willing to stump up a disproportionate amount of money for such a short thrill. As Ray Davies wrote for The Kinks: ‘Let me take you on a little trip, in my supersonic rocket ship’ foreseeing the opportunity that will, surely, come our way at some point. The big question is whether it will be Virgin Galactic that will end up being a regular provider of commercial trips beyond our atmosphere.
  13. USD/CAD could be on the cusp of a bearish reversal Rising energy and equity prices raise confidence in a potential bearish reversal for USD/CAD. Source: Bloomberg Joshua Mahony | Senior Market Analyst, London | Publication date: Monday 26 July 2021 Energy prices on the rise once again We have seen plenty of volatility for energy prices over the course of the past fortnight, with initial uncertainty and ultimate resolution of OPEC+ talks providing moves in both directions. The weakness in crude prices brought a five-month high for USD/CAD as the Canadian dollar lost ground. However, with crude ending the week on the front foot, we can see a bearish shooting star candle that could set us up for a period of downside after a recovery that has lasted almost two months. That rally took the pair back into a confluence of the 76.4% Fibonacci level (1.2732) and the October 2018 low of 1.2782. Interestingly, we have seen the stochastic head back towards the oversold zone. Source: ProRealTime From an intraday perspective, the pair has been consolidating above the 76.4% Fibonacci support level. Price looks to be heading lower from here but a breakdown from this trend of higher lows would add greater confidence that price will end the uptrend that has dominated the past two months. With that in mind, a break below 1.2425 brings confirmation that the reversal indicated as a possibility on the wider weekly chart could be coming into play. In particular, a break below the 1.2515 Fibonacci level raises confidence that we will ultimately break that key 1.2425 threshold. Source: ProRealTime
  14. With some of the largest U.S. companies reporting their quarterly earnings in the upcoming week, investor focus will likely be squarely on corporate America and the financial health of its most high profile corporations. During the five-day period ahead, about a third of S&P 500 companies are scheduled to release their most recent numbers along with their outlook forecasts for the remainder of this year, including such tech giants as Facebook (NASDAQ:FB) and Amazon (NASDAQ:AMZN) and industrial names, such as Boeing (NYSE:BA) and Caterpillar (NYSE:CAT). About 87% of S&P 500 companies that reported results so far this season have beaten Wall Street estimates, according to data compiled by Bloomberg, with investors betting a robust economic recovery will continue fueling corporate America—notwithstanding the threat of higher inflation. During this crucial week for the Q2 earnings season, we will be focusing on three key tech mega caps whose earnings could help clarify whether they are still benefiting from the pandemic-driven demand surge that pushed their shares to record high prices in recent months: 1. Tesla Electric vehicle maker Tesla (NASDAQ:TSLA) will report its second quarter earnings on Monday, July 26 after the market close. Analysts are expecting $0.94 a share profit on sales of $11.53 billion. TSLA Weekly TTM With its shares still in a bearish cycle thus far this year, the Palo Alto, California-based EV manufacturer is facing escalating competitive threats from traditional automakers, signs of a potential sales slowdown in China, and an ongoing semiconductor shortage. TSLA shares closed on Friday at $643.38, down about 8% for the year. The short-term outlook for Tesla has brightened after the company reported last month that it produced more cars in Q2 than analysts expected. That shows the company has been succeeding at overcoming supply-chain issues which are hurting traditional automakers. The company’s sales forecast for the remainder of 2021, and the demand situation in China, will be important details that investors will be keen to be updated on. 2. Apple Apple (NASDAQ:AAPL), the maker of the popular and iconic iPhone, as well as computers and smart wearables, is scheduled to report its fiscal 2021, Q3 earnings on Tuesday, July 27 after the market close. Analysts, on average, project the company will post $1.01 a share profit on sales of $73.3 billion. AAPL Weekly TTM Shares of Apple have continued to move higher this year after the stock produced a stellar performance in 2020. Strong signs that the sales of its flagship iPhone will remain strong this year are helping propel AAPL higher in 2021. During its fiscal second quarter, iPhone sales surged 66%. It was the first full period for the company's model 12 which supports 5G technology. Apple also rolled out new MacBook Pros, a Mac mini, MacBook Airs, new AirPods, new iPads, and updated Apple Watches this year to take advantage of the work-from-home environment which is boosting consumers’ technology needs. The stock gained more than 11% this year, following an 80% jump higher in 2020. AAPL closed on Friday at $148.56. 3. Microsoft Another high-profile mega cap technology company, Microsoft (NASDAQ:MSFT), also reports its fiscal 2021 Q4 earnings after the market close on Tuesday. The software and cloud computing behemoth is expected to post EPS of $1.91 on sales of $44.13 billion, according to consensus forecasts. MSFT Weekly TTM If the past provides any clues, Microsoft should show robust momentum fueled by a surge in technology investments and the strength of its cloud computing and core Office products lineup. The Redmond, Washington-based software and infrastructure company is benefiting from the increased demand for connectivity as people continue to work and interact socially from home. As well, investors expect businesses and governments will continue to spend on their transition to cloud computing—which has been a key area of expansion for the corporation in recent years. Growth in that division jumped 50% in Q3 as corporate clients accelerated a shift to the cloud during the pandemic, where they can store data and run applications via the internet. MSFT shares closed on Friday at $289.67, after surging 30% this year. By Investing.com (Haris Anwar/Investing.com) 25th July 2021.
  15. Hi @Marcraffard, I agree this week is going to interesting with those companies earnings coming up.
  16. Hi @Anandberi, thanks for your question. IG is not on the list of brokers that you can trade with on Trading View. Below are the charting platforms available to trade using IG platforms. Kindly visit this link https://www.ig.com/uk/trading-platforms/compare-trading-platforms to view a comparison of the above mentioned trading platforms. All the best - Mongi
  17. EUR/USD, GBP/USD and NZD/USD remain within downtrend despite recent gains EUR/USD, GBP/USD and NZD/USD show potential to move higher, but wider downtrend highlights potential for another move lower. Source: Bloomberg Forex NZD/USD EUR/USD GBP/USD Market trend New Zealand dollar Joshua Mahony | Senior Market Analyst, London | Publication date: Monday 26 July 2021 EUR/USD maintains its gradual decline for now EUR/USD has been grinding lower over the course of the past month, with the declines becoming harder to come by as we move closer to the key March low of $1.1704. That lack of momentum does raise the risk of an upside move before long, yet we would need to see the price break out of this trend of lower highs for that to come into play. With that in mind, the current rise could bring about another retracement after the 76.4% pullback on Thursday. A rise up through that $1.183 level would provide the first sign of a potential bullish reversal. Until then, short-term upside could bring another retracement into play before we continue to grind lower. Source: ProRealTime GBP/USD rallies into Fibonacci resistance GBP/USD has been regaining ground since Tuesday’s low, with the price rising into the 61.8% Fibonacci level on Thursday. The consolidation seen since then could simply set the scene for another move higher today, although we would need to see the price break through the $1.391 resistance level to bring an end to the bearish trend seen over June and July. Source: ProRealTime NZD/USD consolidates around Fibonacci and trendline resistance NZD/USD has been consolidating around the 61.8% Fibonacci resistance level of $0.6982, with the price trading within a wider downtrend over the course of the last two months. That informs us that we could see the price reverse lower to continue the trend of lower highs. As such, while we could see a short-term rise, we would need to see a rise up through the $0.7044 level to end the trend of lower highs and bring a wider bullish outlook into play. Source: ProRealTime
  18. Another strong set of results forecast as analysts remain bullish on stock. Source: Bloomberg Shares Facebook Stock Price Technical analysis Revenue Kyle Rodda | Market Analyst, Australia | Publication date: Monday 26 July 2021 When does Facebook report its Q2 results? Facebook Inc (All Sessions) reports its Q2 earnings after market on Wednesday 28 July 2021 EST. What to watch out for Analysts are tipping another bumper quarter from Facebook. Revenue is tipped to grow by 49.1% in the second quarter to $27.58 billion, with the result estimated to translate into an EPS of $3.56. The solid financials are forecast to be driven by further growth in advertising revenues, as higher prices and greater demand from businesses amidst the drive to digitalize in the post-pandemic world feed Facebook’s top-line. Despite expectations of another strong set of results in Q2, there will be some key issues that may threaten sentiment towards the stock this quarter. Ongoing regulatory threats still overhang the future of Facebook, while monthly active user growth may fall due to the re-opening of the US economy in the last quarter. You can trade Facebook Inc (All Sessions) with IG by creating a trading account or log into your existing account to get started. Key data going into Facebook’s Q2 results Financial metrics EPS Revenue EPS growth Y/Y Trailing P/E $3.56 $27.58 billion 55.20% 31.63 Source: Bloomberg Analyst recommendations Buy Hold Sell Consensus price target 48 7 3 391.85 Source: Bloomberg Facebook IG client sentiment Source: IG charts Facebook technical analysis: bull trend in place as stock breaks to ATH The technicals remain highly constructive for Facebook shares, hitting new all-time highs in recent days. Owing to strong company fundamentals, expectations of solid Q2 earnings, and a market backdrop that’s becoming increasingly supportive of growth and quality tech stocks, Facebook shares broke key price resistance around $360 last week, after investors took a brief challenge of its 50-day moving average to “buy-the-dip”. Going into this week’s results, the trend looks clearly skewed to the upside for Facebook shares. A hold above previous support and now resistance $360 will be key, before focus shifts perhaps to analysts consensus price target for the stock at $391.85. Want to trade Facebook? You can trade Facebook Inc (All Sessions) with IG by creating a trading account or log into your existing account to get started. Source: IG charts
  19. Gold looks to break higher as oil price consolidates following gains Gold is looking to make headway while oil is consolidating following its recent surge. Source: Bloomberg Chris Beauchamp | Chief Market Analyst, London | Publication date: Monday 26 July 2021 Gold tests trendline support The gold price dipped into the zone below $1800 last week but found buyers, providing a floor, but a firm break above the downtrend line seen since 15 July has yet to take place. It is however testing the line in early trading, and above $1815 the price takes on a more bullish view. Sellers will be shut out of the picture unless they can get the price back below $1790. Source: ProRealTime WTI at a crucial point Having surged from last week’s low the price is now edging back down, as the sequence of lower highs from earlier in the month comes back into play. A move back above $72.70 would be a bullish development, and then open the way to more gains towards $75 and $77. Sellers will look for a move back below $70 that opens the path towards the recent lows. Source: ProRealTime See opportunity on a commodity?
  20. Indices look for further gains after recent bounce The week has begun with small losses, but the uptrends of the past few sessions are firmly intact. Source: Bloomberg Chris Beauchamp | Chief Market Analyst, London | Publication date: Monday 26 July 2021 FTSE 100 The FTSE 100 has fallen back from the high seen on Friday, but the bounce from last week’s low is intact. A renewed move higher heads to 7040 and then on from there, while a drop back towards 6950 and then below 6900 could signal that the bounce has run its course and that a test of 6800 is in the offing. Source: ProRealTime DAX The strong bounce from the DAX's lows of last week is still in place, despite some initial weakness overnight. This dip appears to be stabilising around the 50-hour simple moving average (SMA) of 15,583. Given the powerful rebound in risk appetite this past week it looks like the buyers still have the upper hand. Source: ProRealTime S&P 500 A new record high for the S&P 500 has confirmed the bullish trend once again. Some weakness overnight seems unlikely to last, although a drop back below 4340 could signal a retracement is at hand. Source: ProRealTime
  21. © Reuters. FILE PHOTO: An employee counts U.S. dollar bills at a money exchange in central Cairo, Egypt, March 20, 2019. REUTERS/Mohamed Abd El Ghany By Kevin Buckland, 26th July 2021. Investing.com TOKYO (Reuters) - The safe-harbour yen and dollar started the week firmer against riskier currencies like the Aussie as rising COVID-19 cases and a decline in Asian equities set a cautious tone ahead of the Federal Reserve's meeting this week. The yen rose about 0.5% to 81.08 per Australian dollar on Monday, while the dollar gained 0.2% to $0.7351 per Aussie, approaching an almost eight-month high of $0.72895 reached last week. Against the dollar, the yen added 0.2% to 110.32, helped by a decline in U.S. Treasury yields. The euro rose 0.1% to $1.17795, stabilizing after its drop last week to the lowest since early April at $1.1752. The dollar index, which measures the currency against six major peers, slipped slightly to 92.833 due to pressure from the euro and yen, but was still close to last week's 3-1/2-month high of 93.194. It has gained nearly 4% from a recent low on May 25 as an improving U.S. economy bolstered the outlook for the Fed to start paring asset purchases as early as this year. Commonwealth Bank of Australia projects the dollar can continue to strengthen this week on the possibility of the Fed moving a step closer to tapering at the conclusion of its two-day policy meeting on Wednesday. "We expect the FOMC to drop 'substantial' from 'substantial further progress'," in its guidance on the necessary conditions for the labour market before removing monetary support, CBA strategist Joseph Capurso wrote in a client note. "Removing 'substantial' will signal the FOMC believes it will soon be appropriate to taper asset purchases," setting up a possible announcement of a taper in September, he said. The risk to such an outlook is the rise in COVID-19 cases in the United States, coming after the Fed at its last meeting on June 16 dropped a reference to the coronavirus as a drag on the economy. "Overall, the Fed is expected to hold a rather neutral stance before the Jackson Hole symposium in late August, while risks are biased to dovish side given the Delta variant spread," Mizuho Bank strategist Ken Cheung wrote in a report. The dollar index eked out a 0.2% gain last week, benefiting from a safe-haven bid on fears a surge in infections of the fast-spreading Delta variant could derail the global recovery, but paring those gains as strong U.S. earnings lifted stocks to record highs. The risks from the Delta variant continue to rise globally, with top infectious disease official Anthony Fauci saying some Americans may need booster shots amid new mask mandates and a surge in new cases. China reported its highest number of cases since the end of January, while new infections have also spiked in Japan, where Tokyo is currently hosting the Olympics. Australia's most populous state of New South Wales, home to Sydney, reported a rise in new COVID-19 cases on Monday despite a weeks-long stay-at-home order. Meanwhile, MSCI index of Asia-Pacific stocks excluding Japan sank 2% on Monday, as Chinese blue chips slumped 3.8%. However, cryptocurrencies were buoyed on Monday after London's City A.M. newspaper cited an un-named "insider" on the weekend as saying that Amazon (NASDAQ:AMZN) is looking to accept bitcoin payments by year-end. The report followed Twitter boss Jack Dorsey's comment on Friday that the digital currency is a "big part" of the social-media firm's future. Bitcoin extended its gains from near $29,000 last week to push back to the cusp of $40,000 on Monday for the first time since mid-June. It last traded about 8.5% higher at $38,455. Smaller rival ether was last up 6.8% at $2,344.08, recovering from as low as $1,717.17 last week.
  22. Oil prices fell on Monday as concerns about fuel demand from the spread of COVID-19 variants and floods in China offset expectations of tight supplies through the rest of the year. Brent crude futures for September fell 44 cents, or 0.6%, to $73.66 a barrel by 0432 GMT while U.S. Texas Intermediate crude was at $71.62 a barrel, down 45 cents. Coronavirus cases continued to rise over the weekend with some countries posting record daily increases and extending lockdown measures that could slow oil demand. China, the world's largest crude importer, has also seen a rise in COVID-19 cases while the nation battled severe floods and a typhoon in central and eastern parts of the country. Also, Beijing's crackdown on the misuse of import quotas combined with the impact of high crude prices could see China's growth in oil imports sink to the lowest in two decades in 2021, despite an expected rise in refining rates in the second half. "The delta variant is still spreading and China has started to clamp down on teapots so their import growth would not be that much," said Avtar Sandu, a senior commodities manager at Singapore's Phillips Futures, referring to independent refiners. He added that investors are looking ahead to the next Federal Reserve meeting and U.S. oil inventories data later this week for price direction. However, strong U.S. demand and expectations of tight supplies are underpinning prices, enabling both contracts to recover from a 7% slump last Monday to mark their first gains in 2-3 weeks last week. "Bargain hunters came in droves when Brent got below $70 and the economic demand for energy looks robust," Howie Lee, an economist at Singapore's OCBC Bank said. "Demand data especially from the U.S. continues to be strong and has reduced those concerns." Global oil markets are expected to remain in deficit despite a decision by the Organization of the Petroleum Exporting Countries and their allies to raise production through the rest of the year. The prospect of a swift return of Iranian supplies is diminishing as talks to revive a 2015 nuclear deal have been pushed back to August. Meanwhile, the United States is considering cracking down on Iranian oil sales to China as it braces for the possibility that Tehran may not return to nuclear talks or may adopt a harder line whenever it does, a U.S. official said. In the United States, the recovery in oil drilling has been modest as producers restrained spending. U.S. oil rigs rose by seven to 387 last week, their highest since April 2020, energy services firm Baker Hughes Co said on Friday. By Florence Tan, 26th July 2021. Investing.com
  23. The Week Ahead Read about upcoming market-moving events and plan your trading week Week commencing 26 July Chris Beauchamp’s insight US earnings season is in full flow, but we have plenty of UK news as well on the corporate front. Companies from a range of sectors provide updates, but key ones this week include FANG stocks like Apple and UK banks. Economic data is busy too, with durable goods orders in the US and the first Q2 GDP readings for the US and Germany. Plus the world’s most important central bank, the US Federal Reserve, meets to decide on policy. While no change is expected some discussion about the course of the asset purchase programme may take place. The week ahead video. Economic reports Weekly view Monday 9am – German IFO index (July): expected to rise to 102.5. Markets to watch: EUR crosses 3pm – US new home sales (June): sales to fall 1.2% MoM. Markets to watch: USD crosses Tuesday 1.30pm – US durable goods orders (June): orders to rise 2.1% MoM, and 0.8% excluding transportation orders. Markets to watch: USD crosses 3pm – US consumer confidence (July): index to fall to 125.3. Markets to watch: USD crosses Wednesday 2.30am – Australia CPI (Q2): prices to rise 1% QoQ and 4% YoY. Markets to watch: AUD crosses 7am – German GfK consumer confidence (August): expected to fall to -2. Markets to watch: EUR crosses 1.30ppm – Canada CPI (June): prices to rise 0.5% MoM. Markets to watch: CAD crosses 3.30pm – US EIA crude oil inventories (w/e 23 July): stockpiles rose by 2.1 million barrels in the previous week. Markets to watch: Brent, WTI 7pm – FOMC rate decision: no change in policy expected, but some discussion on a change to QE may take place. Markets to watch: US indices, USD crosses Thursday 8.55am – German unemployment rate (July): expected to hold at 5.9%. Markets to watch: EUR crosses 1pm – German CPI (July, preliminary): expected to rise 3.1% YoY. Markets to watch: EUR crosses 1.30pm – US GDP (Q2, first reading), initial jobless claims (w/e 24 July): growth expected to be 8% QoQ from 6.4%, claims to fall to 390K from 419K. Markets to watch: US indices, USD crosses 3pm – US pending home sales (June): expected to fall 1% MoM. Markets to watch: USD crosses Friday 12.30am – Japan unemployment rate (June): forecast to fall to 2.9%. Markets to watch: JPY crosses 7am – German GDP (Q2, flash): growth to be 1.5% from -1.8% QoQ and 9.2% from -3.1% YoY. Markets to watch: EUR crosses 10am – eurozone inflation (July), GDP (Q2, flash): prices to rise 2.6% YoY and GDP to grow 1.5% QoQ and 12.6% YoY. Markets to watch: EUR crosses 1.30pm – US personal income & spending (June), PCE prices: spending to rise 0.5% and income to rise 0.2% MoM, while PCE prices rise 0.6% MoM and 4.2% YoY. Markets to watch: USD crosses 2.45pm – US Chicago PMI (July): index to edge down to 66. Markets to watch: USD crosses 3pm – US Michigan confidence (July, final): expected to fall to 81.3. Markets to watch: USD crosses Company announcements Monday 26 July Tuesday 27 July Wednesday 28 July Thursday 29 July Friday 30 July Full-year earnings Half/ Quarterly earnings Ryanair, Tesla Reach, Reckitt Benckiser, Apple, Microsoft, AMD, Alphabet ITV, British American Tobacco, Barclays, Aston Martin Lagonda, GSK, Rio Tinto, Deutsche Bank, Facebook, Boeing National Express, Diageo, Weir Group, BT Group, Anglo American, BAE Systems, Schroders, AstraZeneca, Compass, Rentokil Initial, Lloyds Banking Group, Smith & Nephew, Amazon Pearson, Natwest, Caterpillar, ExxonMobil, Chevron, Procter & Gamble Trading update Cranswick Sage Group Q3 TS Dividends FTSE 100: Royal Mail, SSE FTSE 250: Qinetiq, Monks Inv Trust, Bankers Inv Trust, BB Healthcare Trust, Hipgnosis Songs Fund Dividends are applied after the close of the previous day’s session for each market. So, for example, the FTSE 100 goes ex-dividend on a Thursday, but the adjustment is applied at the close of the previous day, e.g. Wednesday. The table below shows the days in which the adjustment is applied, not the ex-dividend days. Index adjustments Monday 26 July Tuesday 27 July Wednesday 28 July Thursday 29 July Friday 30 July Monday 2 August FTSE 100 2.51 Australia 200 Wall Street US 500 0.02 0.04 0.52 0.34 0.02 0.00 Nasdaq 0.37 0.25 Netherlands 25 0.14 EU Stocks 50 China H-Shares Singapore Blue Chip 0.10 Hong Kong HS50 South Africa 40 Italy 40 Japan 225 1.5
  24. For more up to date news on how markets will open, the latest earnings and economic news, watch IGTV live in the platform at 07:30am UK. Today’s coverage: Indices: Despite Wall St indices all either ending at or intraday at record highs, markets in Europe expected down after China tech hammered as authorities clamp down, HSI at 7mth lows FX: Watching EURUSD still challenging 177.72 support ahead of Fed meeting on Wednesday. GBPUSD little move despite EY Item Club saying UK economy growing at fastest in 80yrs Equities: Earnings – RYA flies on a FY loss of €272.6mln as expected. PHIA Q2 €532mln weaker than forecast BUT has €1.5bln buyback. Awaiting MC and TSLA later today Commods: Gold up, Nickel at 5mth highs, Copper challenges 9635 resistance. Oil down after strongest 3-day run since March
  25. Hi, @PLawlor thanks for your review. The platform you’ll use for automated trading will depend on your trading preferences. At IG, we have several automated trading options available to our clients, which are ProRealTime, MetaTrader 4 and APIs. Kindly visit this page https://www.ig.com/uk/trading-platforms/compare-trading-platforms for more information to compare features on the trading platforms that offer automated trading. All the best - Mongi
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