Browsed by
Tag: time

Eton Pharmaceuticals Sees Hammer Chart Pattern: Time to Buy?

Eton Pharmaceuticals Sees Hammer Chart Pattern: Time to Buy?

Eton Pharmaceuticals, Inc. ETON has been struggling lately, but the selling pressure may be coming to an end soon. That is because ETON recently saw a Hammer Chart Pattern which can signal that the stock is nearing a bottom.

What is a Hammer Chart Pattern?

A hammer chart pattern is a popular technical indicator that is used in candlestick charting. The hammer appears when a stock tumbles during the day, but then finds strength at some point in the session to close near or above its opening price. This forms a candlestick that resembles a hammer, and it can suggest that the market has found a low point in the stock, and that better days are ahead.

Other Factors

Plus, earnings estimates have been rising for this company, even despite the sluggish trading lately. In just the past 60 days alone 2 estimates have gone higher, compared to none lower, while the consensus estimate has also moved in the right direction.

Estimates have actually risen so much that the stock now has a Zacks Rank #2 (Buy) suggesting this relatively unloved stock could be due for a breakout soon. This will be especially true if ETON stock can build momentum from here and find a way to continue higher of off this encouraging trading development. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Looking for Stocks with Skyrocketing Upside?

Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.

Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.

See

Read the rest
China’s Stock Market Tops $10 Trillion First Time Since 2015

China’s Stock Market Tops $10 Trillion First Time Since 2015

(Bloomberg) — Chinese domestic equities are worth more than $10 trillion for the first time since 2015, when a record crash erased half the market’s value in months and saddled millions of investors with losses.

Loading...

Load Error

The world’s second-largest stock market has added $3.3 trillion since a low in March, helped by Beijing’s policies to encourage trading, a flurry of new listings that arrived with eased rules, and the strengthening yuan. Stocks have been close to the $10 trillion milestone since July, when China’s government acted to tame a speculative rally that had suddenly pushed a gauge of large caps near a 12-year high.

The country’s total market capitalization is now $10.04 trillion and just shy of the all-time high, according to data compiled by Bloomberg as of Monday. The U.S. has the world’s most valuable stock market at $38.3 trillion.

“It’s a meaningful number, especially coming after a pause in the stock rally,” said Hao Hong, chief strategist for Bocom International in Hong Kong. “It’s possible China’s market value can expand faster now that market reforms like the registration-based IPO system are in place.”



chart, histogram: China market capitalization has once again hit the $10 trillion level


© Bloomberg
China market capitalization has once again hit the $10 trillion level

Chinese shares rallied after a long holiday break on optimism the government will introduce reforms to turn the region around Shenzhen into a global technology hub and that the ruling Communist Party will introduce policies to stimulate demand when it holds a major meeting later this month. Equities surged over the summer as margin debt climbed at the fastest pace since 2015 and turnover soared.

The CSI 300 Index of key stocks listed in Shanghai and Shenzhen slipped 0.2% as of 10:17 a.m. on Tuesday, paring its gain in 2020 to 17%. That rally tops the world’s major benchmarks.

China has

Read the rest
Gas Market Buys Merkel and Putin Time on Nord Stream 2

Gas Market Buys Merkel and Putin Time on Nord Stream 2

(Bloomberg) — Germany won’t need additional gas flows this season, giving Chancellor Angela Merkel and Russian President Vladimir Putin another reason to bide their time on the controversial Nord Stream 2 pipeline.

Loading...

Load Error

After two warm winters and the coronavirus pandemic, demand for the fuel used for heat and power generation is sagging across the continent. Supplies remain abundant, with U.S. cargoes of liquefied natural gas returning to Europe. Benchmark gas prices remain below their 10-year average at the start of the period for peak consumption.

Those metrics may inform how Putin and Merkel respond to Poland’s decision last week to slap a record $7.6 billion fine on the pipeline’s sponsor, Gazprom PJSC. Berlin was silent on the matter, and Russia said only that Poland aligned itself with the U.S. on the issue. For now, there’s no reason to rush ahead with the long-delayed 1,230-kilometer link under the Baltic Sea.

“There is no urgency now for Nord Stream 2 as the existing pipelines and LNG should provide enough gas for the months to come,” said Richard Morningstar, founding chairman of the Atlantic Council’s Global Energy Center and a former U.S. ambassador to the European Union.



a close up of a map: Who’s Dependent on Russia’s Gas?


© Bloomberg
Who’s Dependent on Russia’s Gas?

Nord Stream 2 will run parallel to an existing pipeline by the same name and will double capacity of the route from Russia under the Baltic Sea into Germany. Merkel allowed it to go ahead as a commercial project that would shore up fuel supplies to heavy industry including BASF AG. Russia and Gazprom started promoting the link in 2012, saying additional flows will be needed needed by the mid-2020s.

The U.S. has opposed the pipeline from the start, saying it will deepen Europe’s dependence on energy supplies from Russia. Those arguments gained traction when Putin ordered

Read the rest
What the Stock Market Did Last Time There Was a Contested Election

What the Stock Market Did Last Time There Was a Contested Election

A contested presidential vote tops the list of investors’ fears — despite coronavirus, widespread unemployment, and the deadlock over another stimulus bill.

A recent poll of 700 investors by financial consultancy deVere Group found that 72% of respondents said a disputed election is their biggest 2020 investment worry. Those who were already worried that on Nov. 3, there won’t be a clear winner, got little comfort during the first presidential debate, as President Donald Trump again raised the possibility of challenging the vote in his face-off against Democratic challenger Joe Biden.

While 2020 has been filled with unprecedented events, a disputed presidential vote would not be among them. Twenty years ago, the nation spent 36 days in limbo wondering whether George Bush or Al Gore would be the next leader of the free world.

To understand what a contested election could mean for investors, let’s look at how markets reacted to the Bush vs. Gore showdown of 2000.

An angry business man points at the camera.

Image source: Getty Images.

Stocks tanked, but were already having an abysmal year

The stock market doesn’t react well to uncertainty, so it’s not surprising that stocks fell in 2000 when no clear winner emerged from the election. Between Election Day on Nov. 7, 2000 and the end of November 2000, the S&P 500 fell by 8.1%. The tech-heavy Nasdaq nosedived by nearly 24%.

But let’s not forget the bigger picture: The economy was already in bear market territory after the dot-com bubble started to implode in March 2000. David Kelly, chief global strategist for JP Morgan Funds, recently wrote that the overall stock market had already dropped 6.3% from its March 2000 peak by Election Day. In fact, Nov. 7, 2000 will live in infamy not only as the day that would bring us hanging chads and Florida jokes, but also

Read the rest
SAG-AFTRA Cuts Staff For Third Time During Pandemic, Offers More Dues Relief To Members In Financial Distress

SAG-AFTRA Cuts Staff For Third Time During Pandemic, Offers More Dues Relief To Members In Financial Distress

SAG-AFTRA said today that it has further reduced its workforce “across most operations and locals” through a combination of early retirements and job eliminations. This is the union’s third workforce reduction since the pandemic and production shutdown began in mid-March, and will bring the number of its employees to about 400 nationwide.

“Someday, this crisis will end,” said David White, the union’s national executive director. “For now, with cases spiking across the country and a second global surge possible this winter, we must take steps to further align expenses with anticipated revenues. Adjusting our staff size is difficult and painful, but unavoidable. I thank each and every person for their service and dedication to SAG-AFTRA members. We will continue to maximize all of our resources and deliver on our core functions while maintaining excellent service to members and move toward a leaner and more efficient operation.”

“We must act wisely and prudently to ensure a strong union while remaining a fierce and steadfast advocate for our members who also are facing COVID-19 related challenges,” said SAG-AFTRA president Gabrielle Carteris. “Our work over the last decade resulted in responsible fiscal management and consistent budget surpluses. Because of those surpluses, and with additional expense management, we are positioned to withstand the pandemic and serve our members for generations to come.”

SAG-AFTRA Approves $96 Million Budget, Expects Employee Furloughs & Work-Hour Reductions

In a statement to members tonight, White and Carteris said:

“We take this step in response to the accelerating impact of the pandemic on the union’s current and future financial condition. We live in extraordinary times. Across America, our people and institutions face unprecedented challenges as a result of the COVID-19 pandemic that continues to ravage our communities. SAG-AFTRA is no different in this respect. Our leadership and staff have confronted

Read the rest