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Dave Covaci

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  1. Hello, thank you for your question! Yes, it is possible to buy one share of stock, it all depends on the type of stock which you are buying, and its respective price. When wanting to buy a new stock, it is important to find out about the price of that stock. The next step is to allocate funds for buying, so it is easier to determine how many stocks you will buy. Just because you can buy one stock, doesn’t mean you should, when investing it is advisable to diversify your investments, to lower potential risks, if some of your stocks fluctuate, you will have other ones to rely on. When starting to invest you should look to grow your portfolio until it reaches around 10-15 different stocks, which is an average number advisable. In recent years, there is an emerging trend, where brokers buy fractions of a share, for a lower price than the actual share. This brings several advantages where investors who want to buy expensive shares but don’t have enough funds, can buy a fraction of it, or they can’t buy the whole number of shares, can buy per se 1.5, 2.6, etc. In summary, it all depends upon how many shares you want to buy, do you want to diversify your portfolio, and what are the brokerage fees.
  2. What does a black candle mean in stock charts?
  3. Hi Volkan, In order to start making money, a trader should understand how to make a profit in some detail. First things first, to start making a profit, a trader needs a trading plan. Once you’ve worked out a decent trading plan, a next logical step would be to test that trading plan in a demo account, where you work with virtual funds and risk no real capital. If the plan doesn’t show results in a demo account, it won’t work in real trading either. If that’s the case, a trader should amend the plan and try it out again in a demo account. Repeat the process until the plan starts showing results. When you start real trading, it’s important to have a routine. This involves waking up and start trading at the same time each day as well as keep an eye on important economic news. Following the routine, the trader should also quit trading at the same time every day and make reviews on all trades. A bit of good advice, make a checklist to review your trades and make sure they’re adjusted to your trading plan. Important news releases are a major factor in day trading. They tend to be highly unpredictable in terms of how they move the market. These news include company earnings reports and scheduled economic data publications. If you’re new to day trading, avoid holding open positions during such releases and enter the market after the news. That way it’s easier to utilize day trading methods and benefit from the market volatility. Finally, don’t forget to use stop-loss orders. It’s an efficient method to get you out of market if the asset you’re trading doesn’t move in the direction you’ve anticipated.
  4. Hello Fernando, The Butterfly refers to the reversal chart pattern that belongs in the category of Harmonic patterns. It represents price consolidation and can often be spotted at the end of an extended price movement. Traders can use this pattern to identify the end of the trending movement and prepare for the start of a correction or new trend phase. In terms of the Elliot Wave principle, the Butterfly can often be seen during the last wave (Wave 5) of the impulse sequence.
  5. Dave Covaci

    FTSE 100

    Hello Michael, The FTSE 100 dropped 100 points today following the Bank of England’s announcement that there will be no interest rate for the time being. The UK central bank’s optimism about the country’s economy and no-change decision on rates sent the pound to its highest levels against USD since March. This has backlashed on shares of multinationals earning in foreign currency. Mining stocks hurt FTSE, taking out 100 .46 points of the index by midday. Stocks were trading up yesterday in Eurozone and the US in spite of weak data on the US labour market.
  6. Dave Covaci

    Roku

    Hi Anna, Reports showed that Roku (NASDAQ: ROKU) users streamed 14.6 billion hours of content in Q2 2020, enabling the streaming-media platform to report higher-than-expected revenue in spite of the falling television advertising market. Shares of Roku were 0.4% in the red in after-hours trading Wednesday. The video streaming company’s latest earnings reports show a net loss of $43.1 million, or 35 cents a share, against $9 million, or 8 cents a share, in the same period last year. Consensus estimates were anticipating a 52-cent loss per share. Roku’s revenue for the quarter climbed to $356.1 million from $250 million, compared to analysts’ estimates of $316 million. Out of $356.1M, $111.3 million came from its media player operations and $244.8 million from its streaming business, including advertising and licensing of its smart-TV operating system. Roku reported an increase in the average revenue per user to $24.92 from $21.06 in the year-ago quarter.
  7. Dave Covaci

    Home Depot

    Hey, Unlike other companies, Home Depot’s stock stood strong during the pandemic as it was considered an essential business. A lot of people used the time in quarantine to renovate their homes and frequently contacted Home Depot to purchase supplies and make upgrades. In the first quarter, Home Depot’s net sales surged by 7.1%, while diluted earnings per share declined by 8.4% because of increased expenses related to the health crisis. Home Depot paid a pre-tax charge of $850 million pre-tax charges, causing its earnings to decline by $0.60 per diluted share. It is expected that Home Depot will continue to remain strong amid all the uncertainty, mostly because of its efforts merging physical-store shopping with online shopping as a part of the project called One Home Depot. Even though the crisis accelerated some of the implementations, the home improvement company had the program ready earlier. Shares of Home Depot jumped 39% over the past three months, and some predict that the stock will continue moving up.
  8. Dave Covaci

    IOTA

    Hi Fernando Yesterday, the IOTA Foundation released Stronghold, “a collection of multi-purpose libraries that allows secure management of passwords, access codes and private keys”. This is an important step concerning IOTA adoption. Daniel Thompson-Yvetot, a senior engineer at IOTA, said the secure management of digital secrets is one of the top priorities of the IOTA project. He said that Stronghold was developed to “strengthen the working environment for developers, enhance the security of applications, and give everyone better options for securely storing and safely using high-value digital secrets”. Stronghold represents a software implementation developed that aims to isolate passwords, wallet seeds and access codes from hackers and data breach. IOTA recently conducted testing of the synchronization process, the new IOTA Pollen version 0.2.2 managed to pull off a throughput of more than 10,000 transactions per second. The new version also brought updates for the API, the analysis server dashboard and the local Grafana dashboard.
  9. Dave Covaci

    Bitcoin

    Hi Anna, thanks for asking the question. Bitcoin (BTC) price surged 4% yesterday and closed north of $11,800. Thanks to the strong closing figure, the top cryptocurrency broke above $12,000 but saw a spectacular correction shortly afterwards. BTC plunged from $12,100 to below $10,600 in 15 minutes in the night. Since the former resistance level of $11,500, which is now a support, BTC bulls managed to get on the long side. The cryptocurrency quickly surged back to the north of $11,000.
  10. Hi Benjamin, Futures contracts have a limited lifetime that can affect the results of investor’s trades and exit strategies. Futures’ expiry date is the last day you can trade the contract, usually a third Friday of the expiration month, but that’s not always the case. Futures rollover is when an investor changes his position from the front-month contract to another contract in the future. Traders decide to roll the contract by keeping an eye on the volume of both the expiring future as well as the one in the future. Upon the rollover, the trader can decide to switch to the future contract once the volume has reached a specific level in that contract. For instance, an investor who holds long four S&P 500 futures contracts that have an expiry date in September will sell four Sept ES contracts at the same time and purchase four ES contracts in a future month.
  11. Hello Smith, thanks for asking the question. Shopify recently teamed up with CoinPayments, a platform that facilitates crypto payments, including more than 1,800 digital currencies. Since it started operating in 2013, CoinPayments handled more than $5 billion worth of cryptocurrencies. It also offers different services such as shopping cart plugins, APIs, and virtual wallets. Shopify said the partnership will make crypto transactions much easier and more accessible to its clients. Additionally, the processing of crypto transactions will also become cheaper due to their low fees. The partnership also means that Shopify customers will now be able to make payments with Bitcoin, Litecoin, Ethereum, Ripple, and many other cryptocurrencies. Since it hit the market bottom, shares of Shopify gained about 175%, and surged over 200% over the past four months.
  12. Dave Covaci

    Gold

    Hi Fernando, Gold prices reached a new all-time high today on fears over the economic consequences due to the surge in the number of new coronavirus cases, which boosted demand for gold, a safe-haven investment. Still, gold’s gains were capped thanks to an uptick in USD. Spot gold advanced to hit a new all-time high of $1,987.95/oz in Asian trade, while U.S. gold futures rose 0.3% to $1,992.10. “The sentiment across markets is deteriorating. First of all, rising infection rates are a real concern for the globe and a real support for gold prices. Given that, it is also driving U.S. dollar higher,” said Michael McCarthy, chief strategist at financial services company CMC Markets. Gold rose 30% year-to-date but could see a potential correction once it hits the $2,000/oz mark.
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