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Nile Harris

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  1. Hello, can somebody explain to me stock trader forums?
  2. Hello Fernando and thanks for being here. The pair in question had been involved in some volatile price action recently. The Aussie failed to close below the ascending trend line yesterday, after trading there briefly. This has prompted the buyers to reverse the trend direction and push the price action higher. As a result, AUD/USD created a hammer candlestick pattern, which is a bullish reversal chart pattern that may facilitate a stronger push higher. “The 100-day moving average @ 0.6517 will once again be a key consideration should we see the risk recovery from yesterday build further in the sessions ahead,” currency analyst Justin Low wrote. As Low wrote, the buyers will be now targeting a test of the 100-DMA. If successful, we may see a push towards the crucial near-time resistance near the $0.6670 mark.
  3. Nile Harris

    Foxconn

    Hi Fernando, thanks for the question. Investors were waiting for Foxconn’s results as the company is the biggest supplier of the tech giant Apple. Hence, they were looking for clues in Foxconn’s report that may be connected to iPhone production numbers. Still, the Taiwan-based tech company reported an almost 90% drop in profits compared to a year ago. This is not surprising given that most of its production sites were closed in February and March. “Things were not normal in February and early March. In early March, our outlook was guided by the supply problems. Since late March, we have seen a huge demand shock and visibility for the second half of the year remains very poor,” Liu Young-way, chairman, said on a call with investors. Revenue was down 12% with Foxconn hoping for double-digit growth in revenue for the second quarter. As for the stock, it fell 1.2% today. I think the investors were reassured by Liu, who was hopeful that his company would bounce back in the second quarter as China was able to reopen its economy much earlier than its European counterparts.
  4. Hi Anna, thanks for asking. These two concepts are actually the heart and soul of the entire investing and trading process. Almost all other categories, elements and analysis methods are based on these two general concepts. Their common goal is that they are focused on determining the value of an asset in question. The big difference is how they believe that should be achieved. Fundamental analysis wants to calculate the natural or inherent value of the asset. Its focus is based on the company, the industry, and the environment it operates in i.e. all fundamental aspects. As such, it analyzes all elements that have an impact on the overall value of an asset e.g. earnings, expenses, assets, revenue, cash flow, liabilities etc. On the contrary, technical analysis believes that all fundamental factors have been taken into account and have contributed to forming the current asset price. Therefore, we should focus on the prior price action and historical data in order to calculate the stock value, future trends, and therefore find attractive market opportunities. In essence, technical analysts believe that the market price represents the value of a stock. Despite the fact that these two concepts are different in their nature, both can work in a complementary fashion, combining its strengths to generate insightful data about the fundamental and technical elements of a company and its market performance.
  5. Nile Harris

    Vodafone

    Hi Anna, thanks for your question. As Simon said, the reason behind Vodafone’s decision to pull full-year guidance lies in the uncertainty amid the COVID-19 outbreak. The telecom giant reported full-year core earnings in line with the market expectations of a 2.6% increase to £13.09 billion. Vodafone’s reporting period is April - March, hence the COVID-19 impact is expected in its fiscal 2021 year. “We are experiencing a direct impact on our roaming revenues from lower international travel and we also expect economic pressures to impact our customer revenues over time,” the company said in a statement.
  6. Hi Philip, thanks for asking this question. GBP/USD has actually today attempted to break below $1.2270 after it failed to move above $1.2360 resistance. The pair looks like it wants to move lower as the sellers eye a trip to $1.22, a 1-month low for GBP/USD. These bearish developments are coming when the BoE’s senior officials are very active in the media as they are trying to reassure the business sector that further actions will be taken to support them. After the Bank of England’s chief economist Andy Haldane issued a warning that the COVID-19 triggered economic crisis will create a long-term damage to the UK’s economy, his colleague Ben Broadbent, Deputy Governor of BoE’s Monetary Policy, reiterated that the bank will “quite probably” continue to ease in order to support the troubled economy. "Yes, it is quite possible that more monetary easing will be needed over time," Broadbent said. "The committee is certainly prepared to do what is necessary to meet our remit with risks still to the downside”. Hence, I believe that GBP may be moving lower in the coming days and weeks. Looking lower, the $1.22 mark is the next target for the bears if $1.2270 is cleared.
  7. Hi Philip, thank you for your question. Germany finds itself in a similar situation to other big Western European countries. The death toll is failing and the economy is gradually reopening. This sentiment is also reflected in the DAX Index, which made solid gains in the past week. However, please note that the German media reported over the weekend that the COVID-19 spread accelerated in the past few days as a result of the loosened lockdown measures. Hence, be careful with playing the DAX index on the long side as Germany may not be out of the woods just yet.
  8. Hi Philip, and thanks for the question. The bullish flag is one of the most powerful continuation patterns out there. This chart formation is classified as a continuation pattern as its aim is to help the sellers to extend the uptrend. It is called the bullish flag since it stems from the initial uptrend. After making gains, the buyers take a break to consolidate while the bears use this time to force a rebound and push the price action off the lows. The consolidation phase, which takes place in a channel, then ends when the buyers force a break of the upper trend line. As a trader, you should wait for a breakout to take place before then entering a trade. You can choose to either dip into the market as soon as the breakout occurs or wait for the price to return and retest the broken support line. The biggest advantage of the bull pattern is that it helps traders to define key elements of the trading setup - take profit, stop loss and entry.
  9. Nile Harris

    Uber

    Hi Michael, thanks for your question. Yes indeed, Uber reported its quarterly earnings yesterday. Uber reported a greater loss than expected. It lost $1.70 per share compared to $0.83 per share expected from the market, which translates into a nearly $3 billion loss for the quarter, which is incredible. Still, the stock price ended 6% higher on the day. One of the reasons why Uber stock price gained is that Uber Eats - the company’s food delivery service - reported a 54% growth for the quarter. Revenue was reported in line with the market expectations at $3.54 billion, which represents a 14% increase compared to a year ago. Overall, Uber needs to get its business in order and stop losing billions of dollars every quarter. Its Eats unit is doing really well, which should help the company offset losses from the main ride-hailing business. The median price target for the Uber stock is $40, which is around 20% higher than the current market price of $32.79.
  10. Hi Trevor, thanks for coming here. Tesla is definitely one of the hottest stocks out there. The company seems to be a magnet for all kinds of investors, ranging from hedge funds that control billions in assets to new retail traders that are hypnotized by Elon Musk. Tesla stock price has made gains in the past week again, despite Musk's infamous tweet “Tesla stock price is too high imo”, from a week ago. Since then, the shares of Tesla gained nearly 8%. Practically, whenever Elon talks he makes headlines. When it comes to the valuation of Tesla stock, it’s difficult to say. There are different methods of how you value a stock. Tesla’s stock market price is one thing while analysts also calculate the intrinsic value of Tesla stock. Right now, the analysts’ consensus for Tesla stock price is $615, which is much lower than the current market price of $819. Looking from this angle, you could definitely say that the Tesla stock is expensive and overvalued by the market.
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