JPMorgan (JPM) announced better-than-expected numbers to start the first-quarter earnings season and provided a much needed lift to the financial sector. The major indexes traded in tighter ranges on Thursday and Friday with key resistance levels that were stretched on Wednesday holding. The prior Thursday’s start of a three-day selling spree has established trading ranges of 10%-11%...
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Although the bears won the shortened week, volatility closed below a key level of support (30) that had served as prior resistance ahead of the three-day selloff from the beginning of the month. A rising VIX is bearish for the market while a falling VIX is bullish for the major indexes. NFLX posted a solid beat as earnings per share of $6.61 topped forecasts for a print of $5.67....
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The small-caps were the first index to clear and hold the first layer of resistance following the beginning of the month selloff. This could be an early signal the rest of the market could be bottoming. Key resistance at 35 held on the VIX following Monday’s pop to 35.75. This was also a good clue this week could possibly be bullish or at least hold the ongoing trading ranges of 10%-12%...
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Here are some reasons it may have gapped Down: 1) Negative Clinical Trial Results: Initial data from the Phase 2 clinical trial for VCIG's lead drug candidate, targeting a rare autoimmune disease, showed limited efficacy and a higher-than-expected incidence of adverse side effects, as announced this morning. 2) Concerns about Cash Runway: The company's press release accompanying the...
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Here are some reasons it may have gapped Up: 1) Positive Outlook on Office Equipment Demand: Recent industry reports suggest a stabilization and potential uptick in demand for office equipment and printing solutions, which could benefit Xerox. 2) Potential for Cost-Cutting Measures: Xerox may have announced or hinted at further cost-cutting initiatives, which could improve...
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Here are some reasons it may have gapped Up: 1) Positive Preliminary Results: Zentek released preliminary results from its Phase 2 clinical trial for its novel antiviral coating, showing promising efficacy against a new strain of influenza. 2) Government Grant Announcement: The company announced it had been awarded a significant government grant to further develop its graphene-based...
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