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Market analysis
Gold price forecast as the US dollar index (DXY) rebounds
January 05, 2024 03:02 PM AEDT| By InvezzGold (XAU/USD) price has pulled back this week as traders embraced a risk-off sentiment. It was trading at $2,040 on Friday as it headed to its first weekly decline since mid-December. This price is much lower than its all-time high of $2,147.3...
Hang Seng index top laggard in 2023 is off to a bad start in 2024
January 05, 2024 11:02 AM AEDT| By InvezzThe Hang Seng index had a difficult performance in 2023 as Chinese stocks continued to underperform their Western peers. After peaking at H$22,697 in January, the index entered a deep bear market, falling by over 26% to H$16,500. In the same period,...
ProShares Short QQQ (SQQQ) ETF: An expensive way to go broke
January 05, 2024 03:23 AM AEDT| By InvezzThe ProShares UltraPro Short QQQ ETF (SQQQ) stock price has been in a freefall for a long time. The fund has crashed by over 99% in the past five years. It has also dropped by over 73% in the past 12 months. In this period, it has underperformed the...
Blackstone Mortgage (BMXT) stock: Inverse H&S patterns form
January 05, 2024 01:26 AM AEDT| By InvezzBlackstone Mortgage Trust (NYSE: BXMT) stock price has remained in a tight range in the past few weeks. The stock was trading at $20 on Thursday, a few points below last month’s high of $22.57. It has risen by over 40% from its 2023 lows even as its...
Cardano (ADA/USDT) analysis: a potential sell setup amidst major support breakdown
January 05, 2024 01:15 AM AEDT| By InvezzADA/USDT chart and technical analysis Cardano dropped 19% yesterday due to Bitcoin’s ETF denial report. The price of ADA/USDT dropped below the major support level of 0.5904 and broke the bullish trendline. The price is likely to drop further t...
What’s going on with the Plug Power stock?
January 04, 2024 11:00 PM AEDT| By InvezzPlug Power (NASDAQ: PLUG) stock price remained in a consolidation phase this week as investors assessed the next actions by the cash-strapped company. The stock was trading at $4.35 on Thursday, where it has been in the past few weeks. It has plunged...
As the JD Sports share price plummets, is it a bargain?
January 04, 2024 09:00 PM AEDT| By InvezzJD Sports (LON: JD.) share price is in trouble after tumbling by more than 20% on Thursday. The stock crashed to a low of 118p, its lowest level since December 23rd. It has now plunged by more than 30% from its highest point in December. Lower revenu...
Aluminium price forecast: brace for short-term volatility
January 04, 2024 06:30 PM AEDT| By InvezzAluminium prices remained on edge after another series of weak economic numbers this week. Data by TradingView shows that the spot aluminium price was trading at $2,300 per ounce on Thursday, much lower than last week’s high of $2,392. It remains 14%...
BAE Systems share price silently soars to ATH, flips key resistance
January 04, 2024 05:02 PM AEDT| By InvezzBAE Systems (LON: BA.) share price has silently surged to a record high as the company sees unprecedented demand. The stock surged to a high of 1,136p after rising by over 35% in the past 12 months. It outperformed the FTSE 100 index, which rose by l...
What’s going on with Vinfast (VFS) stock price?
January 04, 2024 03:03 PM AEDT| By InvezzVinFast (NASDAQ: VFS) stock price has come under intense pressure as short interest in the company rose. After peaking at $27 shortly after going public, the stock has dropped to $7, giving it a market valuation of over $16 billion. This valuation ma...
PDD stock: Temu growth and lessons from Wish.com
January 04, 2024 01:02 PM AEDT| By InvezzPDD Holdings (NASDAQ: PDD) stock price surged in 2023, helped by the growing popularity of Temu, the fast-growing e-commerce company. The shares jumped to $150, its highest level since March 2021. They were up by over 80% in 2023, beating its top riv...
Exxon stock downgraded ahead of earnings
January 04, 2024 04:51 AM AEDT| By InvezzExxon Mobil Corp (NYSE: XOM) has gained about 5.0% over the past three weeks but a Mizuho analyst says it’s time to stop buying this energy stock. Exxon stock lost its buy rating at Mizuho Nitin Kumar downgraded the oil and gas behemoth this morning...
Peloton stock price forecast: PTON is ripe for a bearish breakout
January 03, 2024 07:01 PM AEDT| By InvezzPeloton Interactive (NASDAQ: PTON) stock price has moved sideways in the past few weeks as investors assess the company’s growth. The shares, which bottomed at $4.30 in 2023, have now bounced back to $5.82. They remain much lower than the all-time hi...
Brent crude oil price forecast in the age of abundance
January 03, 2024 05:00 PM AEDT| By InvezzCrude oil prices remained under intense pressure this week even as the crisis in the Middle East escalated. Brent, the global benchmark, retreated to $76, down from a peak of $95.90 in September. Similarly, West Texas Intermediate, the American bench...
What’s going on with the Star Bulk Carriers (SBLK) stock?
January 03, 2024 01:02 PM AEDT| By InvezzStar Bulk Carriers (NASDAQ: SBLK) stock price has moved sideways in the past few weeks as investors focus on the shipping industry. The shares were trading at $21 on Tuesday, a few points below last month’s high of $21.90. They have jumped by more th...
Here’s why the Maersk share price is ready for take off
January 03, 2024 11:02 AM AEDT| By InvezzA.P. Moller Maersk share price has bounced back as investors watch the ongoing crisis in the Red Sea. After bottoming at DKK 9,814 in November, the stock has bounced back by more than 31% to DKK 12,915. It remains about 10% below the highest point in...
PERP price goes parabolic despite Perpetual Protocol weakness
January 03, 2024 03:15 AM AEDT| By InvezzPerpetual Protocol (PERP) price continued rising on Tuesday as demand for the token rose. PERP surged to a high of $1.70, its highest point since May last year. It has jumped by more than 330% from its lowest point in 2023. Perpetual Protocol is a de...
Medical Properties Trust (MPW) stock: don’t buy the dip yet
January 03, 2024 02:21 AM AEDT| By InvezzMedical Properties Trust (NYSE: MPW) stock price had a difficult performance in 2023 as the company faced numerous headwinds. The stock plunged to 3.93 in November down from $12.4 in February. This retreat has brought its total market cap to $2.94 bi...
Skale Network (SKL) price suddenly wakes up as transactions rise
January 02, 2024 11:02 PM AEDT| By InvezzSkale Network (SKL) price bounced back this week as demand for the token and other cryptocurrencies continued rising. The SKL token jumped to a high of $0.0930 on Monday, which was about 375% above the lowest point in October. Skale Network activity...
Tui share price technical setup points to a 31% jump in 2024
January 02, 2024 09:30 PM AEDT| By InvezzTui Group (LON: TUI) share price remained in a consolidation phase on Monday as traders waited for the next catalyst. The stock was trading at 621p where it has been stuck in the past few weeks. This price is about 64% above the lowest level in 2023,...
