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$CLVS Analysts bullish on Clovic Oncology, on our watchlist.
*********STRONG WATCH FOR A BREAKOUT ON THIS NAME IN THE COMING WEEKS****** ANALYSTS ARE VERY OPTIMISTIC ON THE PROSPECTS WITH CREDIT SUISSE ISSUING A BUY RATING AND A $29 TARGET WHILE ON MAY THE 8th H.C WAINWRIGHT MAINTAINED A BUY RATING AND A $36 PRICE TARGET.
EARNINGS HIGHLIGHTS
Edited Transcript of Clovis Oncology Inc earnings conference call or presentation Tuesday, May 7, 2019 at 12:30:00pm GMT
Product revenue was $33.1 million in Q1 2019. This compares to $18.5 million in Q1 2018. This represents a 79% quarterly increase year-over-year.
This includes $31.9 million in U.S. product revenues and $1.2 million in ex U.S. product revenues, following the launches in Germany and the U.K. private pay market that occurred in March. The number of weeks of inventory at distributors at the end of Q1 was flat to Q4 2018. The supply of free drug provided through our U.S. patient assistance programs totaled $8.4 million in commercial value in Q1 2019 or approximately 21% of overall commercial supply. This is in line with the 22% reported in Q1 2018.
Ended the first quarter with $406.8 million in cash, cash equivalents and available-for-sale securities. Cash used in operating activities was $98.5 million for Q1 2019 compared with $100.6 million for Q1 2018. This is a sequential increase from the $82.7 million in cash used in Q4 2018 and is primarily due to higher drug purchase costs of $27.5 million in 2019 versus $22.7 million in drug purchase costs in Q4 2018.
We continue to target late 2019 for a potential supplemental NDA filing for BRCA-mutant patients with advanced metastatic castration-resistant prostate cancer. And having completed our financing with TPG for ATHENA, we substantially extended our projected cash runway, which allows us to move forward with these objectives I've described, which we believe will enhance shareholder value.
$CLVS Analysts bullish on Clovic Oncology, on our watchlist.
*********STRONG WATCH FOR A BREAKOUT ON THIS NAME IN THE COMING WEEKS****** ANALYSTS ARE VERY OPTIMISTIC ON THE PROSPECTS WITH CREDIT SUISSE ISSUING A BUY RATING AND A $29 TARGET WHILE ON MAY THE 8th H.C WAINWRIGHT MAINTAINED A BUY RATING AND A $36 PRICE TARGET.
EARNINGS HIGHLIGHTS
Edited Transcript of Clovis Oncology Inc earnings conference call or presentation Tuesday, May 7, 2019 at 12:30:00pm GMT
Product revenue was $33.1 million in Q1 2019. This compares to $18.5 million in Q1 2018. This represents a 79% quarterly increase year-over-year.
This includes $31.9 million in U.S. product revenues and $1.2 million in ex U.S. product revenues, following the launches in Germany and the U.K. private pay market that occurred in March. The number of weeks of inventory at distributors at the end of Q1 was flat to Q4 2018. The supply of free drug provided through our U.S. patient assistance programs totaled $8.4 million in commercial value in Q1 2019 or approximately 21% of overall commercial supply. This is in line with the 22% reported in Q1 2018.
Ended the first quarter with $406.8 million in cash, cash equivalents and available-for-sale securities. Cash used in operating activities was $98.5 million for Q1 2019 compared with $100.6 million for Q1 2018. This is a sequential increase from the $82.7 million in cash used in Q4 2018 and is primarily due to higher drug purchase costs of $27.5 million in 2019 versus $22.7 million in drug purchase costs in Q4 2018.
We continue to target late 2019 for a potential supplemental NDA filing for BRCA-mutant patients with advanced metastatic castration-resistant prostate cancer. And having completed our financing with TPG for ATHENA, we substantially extended our projected cash runway, which allows us to move forward with these objectives I've described, which we believe will enhance shareholder value.
$SOX Phili Semi Index not finished with Volatility
What a difference a few weeks make, things really have got very ugly very quickly, the POTUS is willing to use the tech industry as leverage against China in the escalating trade war. It may be a case that investors became complacent once again as when we now look in Hindsight at the indicators, they RSI , MACD and Stoch had all reached quite elevated levels and the Momentum indicator had started to decline quite drastically, and is now at a historic low.
One worrying element of the chart is that Gaps exist below, which is understandable given the velocity of the recovery from December lows, it is very likely that the decline will continue until those gaps are filled at a minimum. The outlook for trade is not good, so there is no stimulus but possibly more negative pre announcement from companies warning of earnings declines ,due to lost business in CHINA and Huawei in particular.
Broadcom, Nvidia , Amd , INTC and Xlnx have suffered horrendous losses in value since the beginning of May and it would take a brave or stupid investor to start buying while the sentiment is so poor.
The Semi stocks are often seen as leading indicators for the entire market, which was the case in 2018, from their January 2018 high they were bleeding lower while the market continued to rally until the october massacre set in.
We are Bulls but can only say, Proceed with extreme caution if you intent bottom feeding on these stocks.
$SOX Phili Semi Index not finished with Volatility
What a difference a few weeks make, things really have got very ugly very quickly, the POTUS is willing to use the tech industry as leverage against China in the escalating trade war. It may be a case that investors became complacent once again as when we now look in Hindsight at the indicators, they RSI , MACD and Stoch had all reached quite elevated levels and the Momentum indicator had started to decline quite drastically, and is now at a historic low.
One worrying element of the chart is that Gaps exist below, which is understandable given the velocity of the recovery from December lows, it is very likely that the decline will continue until those gaps are filled at a minimum. The outlook for trade is not good, so there is no stimulus but possibly more negative pre announcement from companies warning of earnings declines ,due to lost business in CHINA and Huawei in particular.
Broadcom, Nvidia , Amd , INTC and Xlnx have suffered horrendous losses in value since the beginning of May and it would take a brave or stupid investor to start buying while the sentiment is so poor.
The Semi stocks are often seen as leading indicators for the entire market, which was the case in 2018, from their January 2018 high they were bleeding lower while the market continued to rally until the october massacre set in.
We are Bulls but can only say, Proceed with extreme caution if you intent bottom feeding on these stocks.
$AAPL Issues continue to work against Apple
It is a frustrating time for AAPL investors and believers, despite the surge pre earnings the stock price has now entered correction down 16% from its May high. "It never rains but it pours" is very true regarding NASDAQ:AAPL . Having lost a long standing battle with Qualcomm , then NYSE:SPOT and the EU have taken issue with AAPl's compliance with competition laws.
Added to that is the China, USA trade talks escalating into a trade war in the past few weeks,these factors have sent AAPl and all of it's suppliers into a tailspin.
As Mr Trump has almost certainly derailed the talks by banning Huawei, it is now a matter of who can suffer the most pain, it is thought that Trump holds the aces in the game but time will tell who will blink first. President XI has been leading the USA on a merry dance for quite a while, but this may be his last chance to make a move. If Trump can convince Europe to follow his actions, China will be slowly suffocated in world trade.
$AAPL Issues continue to work against Apple
It is a frustrating time for AAPL investors and believers, despite the surge pre earnings the stock price has now entered correction down 16% from its May high. "It never rains but it pours" is very true regarding NASDAQ:AAPL . Having lost a long standing battle with Qualcomm , then NYSE:SPOT and the EU have taken issue with AAPl's compliance with competition laws.
Added to that is the China, USA trade talks escalating into a trade war in the past few weeks,these factors have sent AAPl and all of it's suppliers into a tailspin.
As Mr Trump has almost certainly derailed the talks by banning Huawei, it is now a matter of who can suffer the most pain, it is thought that Trump holds the aces in the game but time will tell who will blink first. President XI has been leading the USA on a merry dance for quite a while, but this may be his last chance to make a move. If Trump can convince Europe to follow his actions, China will be slowly suffocated in world trade.
$AAPL Issues continue to work against Apple
It is a frustrating time for AAPL investors and believers, despite the surge pre earnings the stock price has now entered correction down 16% from its May high. "It never rains but it pours" is very true regarding NASDAQ:AAPL . Having lost a long standing battle with Qualcomm , then NYSE:SPOT and the EU have taken issue with AAPl's compliance with competition laws.
Added to that is the China, USA trade talks escalating into a trade war in the past few weeks,these factors have sent AAPl and all of it's suppliers into a tailspin.
As Mr Trump has almost certainly derailed the talks by banning Huawei, it is now a matter of who can suffer the most pain, it is thought that Trump holds the aces in the game but time will tell who will blink first. President XI has been leading the USA on a merry dance for quite a while, but this may be his last chance to make a move. If Trump can convince Europe to follow his actions, China will be slowly suffocated in world trade.
$AZO BULLS STILL IN CONTROL $1100 PRICE TARGET
AutoZone’s strategy of fast delivery of high-quality products is expected to drive third-quarter fiscal 2019 results. Besides having a growing physical presence through ramping up store openings, its online platform is adding to a impressive growth performance, these online initiatives will further improve sales and market share for the leading retailer and distributor of automotive replacement parts and accessories in the soon-to-be-released quarter.
This is one company that has not let AMAZON walk all over it, specialist companies have loyal and long standing relationships with suppliers and customers.
ANALYSTS RATING OVERWEIGHT
ANALYSTS PRICE TARGET $1050
AutoZone , Inc. engages in the provision of retail and distribution of automotive replacement parts and accessories. It operates through the Auto Parts Locations and Other segments. The Auto Parts Locations segment provides automotive parts and accessories through the company's stores in the U.S., Puerto Rico , Mexico, and Brazil. The Other segment consists of ALLDATA, which produces, sells, and maintains diagnostic and repair information software used in the automotive repair industry.
$AZO BULLS STILL IN CONTROL $1100 PRICE TARGET
AutoZone’s strategy of fast delivery of high-quality products is expected to drive third-quarter fiscal 2019 results. Besides having a growing physical presence through ramping up store openings, its online platform is adding to a impressive growth performance, these online initiatives will further improve sales and market share for the leading retailer and distributor of automotive replacement parts and accessories in the soon-to-be-released quarter.
This is one company that has not let AMAZON walk all over it, specialist companies have loyal and long standing relationships with suppliers and customers.
ANALYSTS RATING OVERWEIGHT
ANALYSTS PRICE TARGET $1050
AutoZone , Inc. engages in the provision of retail and distribution of automotive replacement parts and accessories. It operates through the Auto Parts Locations and Other segments. The Auto Parts Locations segment provides automotive parts and accessories through the company's stores in the U.S., Puerto Rico , Mexico, and Brazil. The Other segment consists of ALLDATA, which produces, sells, and maintains diagnostic and repair information software used in the automotive repair industry.
$TJX Momentum reads to the downside in TJX
Among the bricks and mortar stores TJX is a real winner, it is a favourite among consumers and indeed other retailers, whom have excess inventory that they can not shift. TJX buys it cheap and sells it cheap to the bargain hunters who just love finding that item they didn't really need but it was too cheap to put back on the rack.
Despite this from a technical perspective things are not as rosey, the Momentum indicator has had Bearish divergences for some time, while the RSI has dropped quite hard recently and is now at a breaking point. Tomorrows earnings report will dictate the price action for the months to come as a disappointing report could produce a retrace to $46 or indeed the $40 region. If by chance we get a upside move $56 will be a hard price to break having held as resistance on numerous occasions.
$TJX Momentum reads to the downside in TJX
Among the bricks and mortar stores TJX is a real winner, it is a favourite among consumers and indeed other retailers, whom have excess inventory that they can not shift. TJX buys it cheap and sells it cheap to the bargain hunters who just love finding that item they didn't really need but it was too cheap to put back on the rack.
Despite this from a technical perspective things are not as rosey, the Momentum indicator has had Bearish divergences for some time, while the RSI has dropped quite hard recently and is now at a breaking point. Tomorrows earnings report will dictate the price action for the months to come as a disappointing report could produce a retrace to $46 or indeed the $40 region. If by chance we get a upside move $56 will be a hard price to break having held as resistance on numerous occasions.
$JCP SHORT IT TO $0, UNFORTUNATELY IT IS DYING
Even the most optimistic of people will find it hard to build a compelling case for the survival of NYSE:JCP . As sales have decreased the company have been battling the need to reduce debt while also closing stores. The downfall of OTC:SHLDQ really was the writing on the wall for investors in JCP and despite they best efforts the board, it has been unable to stop the decline. It now looks very much as the end is in sight but it is far from a happy ending. A economic downturn would be the final nail in the coffin
$JCP SHORT IT TO $0, UNFORTUNATELY IT IS DYING
Even the most optimistic of people will find it hard to build a compelling case for the survival of NYSE:JCP . As sales have decreased the company have been battling the need to reduce debt while also closing stores. The downfall of OTC:SHLDQ really was the writing on the wall for investors in JCP and despite they best efforts the board, it has been unable to stop the decline. It now looks very much as the end is in sight but it is far from a happy ending. A economic downturn would be the final nail in the coffin
$HD BEARISH PERSPECTIVE GOING INTO EARNINGS.
We must have a look at the Bearish perspective on HD as we go into the much anticipated retailers earnings reports this week. Spring is like christmas to Home Depot , home improvements , and in particular planting season for gardener, this year however, mother nature has not been kind which will have a impact on earnings .
Secondly, longer term is it possible the end is in sight for this economic cycle , house prices have started to stagnate and HD is very much dependant on continued homes sales .
Home depot is also very highly leveraged with debt, which has been overlooked as growth and revenues have increased, this will be to the forefront if growth stalls.
$HD BEARISH PERSPECTIVE GOING INTO EARNINGS.
We must have a look at the Bearish perspective on HD as we go into the much anticipated retailers earnings reports this week. Spring is like christmas to Home Depot , home improvements , and in particular planting season for gardener, this year however, mother nature has not been kind which will have a impact on earnings .
Secondly, longer term is it possible the end is in sight for this economic cycle , house prices have started to stagnate and HD is very much dependant on continued homes sales .
Home depot is also very highly leveraged with debt, which has been overlooked as growth and revenues have increased, this will be to the forefront if growth stalls.
$LITE JUMP SHIP TIME IN LUMENTUM , $37 TARGET
It is a horrible time to be invested in TECH, it is obviously going to be sacrificed in the trade war, Huawei has become enemy Number 1 and any company with Chinese exposure has suffered great loss in value in the past few weeks. NASDAQ:LITE has considerable exposure and has now lowered guidance due to the ban initialised on Huawei. The chart of Lite is technically broken, having lost the support off all MA's and the RSI is now at a historical low due to the velocity of the selling. That low is just about the only positive to cling to, there is a chance of a bounce but that it not a trade we would be willing to take. The stock is now in a wee defined downtrend from March 18 with $42 and $37 the next targets on the downside.
If by any chance there is a resolution with China this will rocket higher but that is not on the horizon, given the rhetoric
$LITE JUMP SHIP TIME IN LUMENTUM , $37 TARGET
It is a horrible time to be invested in TECH, it is obviously going to be sacrificed in the trade war, Huawei has become enemy Number 1 and any company with Chinese exposure has suffered great loss in value in the past few weeks. NASDAQ:LITE has considerable exposure and has now lowered guidance due to the ban initialised on Huawei. The chart of Lite is technically broken, having lost the support off all MA's and the RSI is now at a historical low due to the velocity of the selling. That low is just about the only positive to cling to, there is a chance of a bounce but that it not a trade we would be willing to take. The stock is now in a wee defined downtrend from March 18 with $42 and $37 the next targets on the downside.
If by any chance there is a resolution with China this will rocket higher but that is not on the horizon, given the rhetoric.
$BIDU Bears in full control, results won't matter to sentiment
Today's earnings from BABA were really good but after an initial pop it bleed into negative, BAIDU could very well act the same. The chart is ugly with a break from a bear flag on high volume and indicators all point south. There is a chance that the earnings could be great and the stock jumps, but we cant see it happen under a cloud of poor
sentiment.
$BIDU Bears in full control, results won't matter to sentiment
Today's earnings from BABA were really good but after an initial pop it bleed into negative, BAIDU could very well act the same. The chart is ugly with a break from a bear flag on high volume and indicators all point south. There is a chance that the earnings could be great and the stock jumps, but we cant see it happen under a cloud of poor
sentiment.
LTCUSD Yeah Ha 20% gain . $130 a real breakout level.
***************We are long but will remain realistic, LTC has hit a wall of resistance from $104-$128, we will be in full bull mode when we can hopefully get above $130 which should not be to long, with the impetus of a split coming in August. Keep trailing stop losses if you have gains, a correction could be quite deep and fast
LTCUSD Yeah Ha 20% gain . $130 a real breakout level.
***************We are long but will remain realistic, LTC has hit a wall of resistance from $104-$128, we will be in full bull mode when we can hopefully get above $130 which should not be to long, with the impetus of a split coming in August. Keep trailing stop losses if you have gains, a correction could be quite deep and fast
$TNK 11% MOVE MAY JUST BE THE START. BULLISH
It has been a very eventful year so far TNK and yesterdays closing (as below) has given investors some reassurance that the future is secured,BUY Volume has increased considerably and as earnings approach this could be a real winner at the current entry level.
Teekay Corporation , +2.01% announced the closing of its previously announced offering of $250 million in aggregate principal amount of 9.25% senior secured notes due November 2022 (the Notes). In addition, the Company announced that it had completed the early settlement of its cash tender offer to purchase any and all of its outstanding $497.7 million of 8.5% senior notes due 2020 (the 2020 Notes and such tender offer, the Offer), pursuant to which the Company purchased approximately $458.0 million in aggregate principal amount of 2020 Notes that were validly tendered and not validly withdrawn prior to 5:00 p.m., New York City time, on May 7, 2019, for cash consideration of $1,032.50 per $1,000 in principal amount of 2020 Notes, plus accrued and unpaid interest.
$TNK 11% MOVE MAY JUST BE THE START. BULLISH
It has been a very eventful year so far TNK and yesterdays closing (as below) has given investors some reassurance that the future is secured,BUY Volume has increased considerably and as earnings approach this could be a real winner at the current entry level.
Teekay Corporation , +2.01% announced the closing of its previously announced offering of $250 million in aggregate principal amount of 9.25% senior secured notes due November 2022 (the Notes). In addition, the Company announced that it had completed the early settlement of its cash tender offer to purchase any and all of its outstanding $497.7 million of 8.5% senior notes due 2020 (the 2020 Notes and such tender offer, the Offer), pursuant to which the Company purchased approximately $458.0 million in aggregate principal amount of 2020 Notes that were validly tendered and not validly withdrawn prior to 5:00 p.m., New York City time, on May 7, 2019, for cash consideration of $1,032.50 per $1,000 in principal amount of 2020 Notes, plus accrued and unpaid interest.
$AGIO Bullish after-hours 15% move on positive 8-K filing
Shares have made a very positive move afterhours on good volume after the release of its 8-K Inc announcing that the global phase 3 ClarIDHy trial of TIBSOVO® (ivosidenib) in previously treated cholangiocarcinoma patients with an isocitrate dehydrogenase 1 mutation met its primary endpoint. Tomorrow will be a very positive day so be ready, it could move very fast.
$AGIO Bullish after-hours 15% move on positive 8-K filing
Shares have made a very positive move afterhours on good volume after the release of its 8-K Inc announcing that the global phase 3 ClarIDHy trial of TIBSOVO® (ivosidenib) in previously treated cholangiocarcinoma patients with an isocitrate dehydrogenase 1 mutation met its primary endpoint. Tomorrow will be a very positive day so be ready, it could move very fast.
$MGNX 14% Afterhours Breakout on positive phase 3 results
Afterhours Macrogenics Inc has announced Positive Results from Phase 3 SOPHIA Study of Margetuximab in Patients with HER2-Positive Metastatic Breast Cancer. This has resulted in a 15% jump in price on high volume , we will looking for continuation tomorrow, this could be a flyer.
$MGNX 14% Afterhours Breakout on positive phase 3 results
Afterhours Macrogenics Inc has announced Positive Results from Phase 3 SOPHIA Study of Margetuximab in Patients with HER2-Positive Metastatic Breast Cancer. This has resulted in a 15% jump in price on high volume , we will looking for continuation tomorrow, this could be a flyer.
$zyne The safe side of Cannabis investing, Zynerba Pharma.
Don't feel it is to late to get into ZYNE , this is a small cap company with outstanding prospects considering the market for Cannbinoid products which is still untapped. Only a small fraction of countries have legalized the use of such drugs which are revolutionizing for the treatment of life limiting conditions. We consider that we are in the 5th wave and $17-$18 is our target.
$zyne The safe side of Cannabis investing, Zynerba Pharma.
Don't feel it is to late to get into ZYNE , this is a small cap company with outstanding prospects considering the market for Cannbinoid products which is still untapped. Only a small fraction of countries have legalized the use of such drugs which are revolutionizing for the treatment of life limiting conditions. We consider that we are in the 5th wave and $17-$18 is our target.
$FLO Flower Foods gains premarket on earnings beat.
Yesterdays earnings report hit the right notes with investors, the stock traded higher on a beat on both earnings and revenue, while also providing favorable guidance for the full year. Shares jumped 3.5% afterhours so we hope for continuation today, the stock completed a correction from April 18 high and is now approaching that level once again at $22.80. In the longer term our wave 3 target is approx $28.
$FLO Flower Foods gains premarket on earnings beat.
Yesterdays earnings report hit the right notes with investors, the stock traded higher on a beat on both earnings and revenue, while also providing favorable guidance for the full year. Shares jumped 3.5% afterhours so we hope for continuation today, the stock completed a correction from April 18 high and is now approaching that level once again at $22.80. In the longer term our wave 3 target is approx $28.
$WIX Bullish despite little pullback.
The stock of WIX has had a amazing 2019 and it is more that understandable that post earnings , investors are going to bank some profits. We see a healthy pullback in the coming days to the initial breakout level of $125 before continuing much higher. The company is investing and growing greatly in a ever expanding sector of the market. It is along term hold for us.
$WIX Bullish despite little pullback.
The stock of WIX has had a amazing 2019 and it is more that understandable that post earnings , investors are going to bank some profits. We see a healthy pullback in the coming days to the initial breakout level of $125 before continuing much higher. The company is investing and growing greatly in a ever expanding sector of the market. It is along term hold for us.
$WIX Bullish despite little pullback.
The stock of WIX has had a amazing 2019 and it is more that understandable that post earnings , investors are going to bank some profits. We see a healthy pullback in the coming days to the initial breakout level of $125 before continuing much higher. The company is investing and growing greatly in a ever expanding sector of the market. It is along term hold for us.
$ERIC Huawei's pain will be Ericsson's gain in 5G drama
Despite the drama that has unfolded with the banning of Huawei from the USA network, ERICISSON was already on a bull run. ERIC and its competitors like Nokia have been undercut by the Chinese government subsidized Huawei, but that may all be about to change. Not alone is the USA banning Huawei but they are encouraging its allies to do the same, it is just one more piece or ammunition in Trumps trade War. Keep this stock on your watch-list as it may well be a enormous benefactor of Trumps strategy.
$ERIC Huawei's pain will be Ericsson's gain in 5G drama
Despite the drama that has unfolded with the banning of Huawei from the USA network, ERICISSON was already on a bull run. ERIC and its competitors like Nokia have been undercut by the Chinese government subsidized Huawei, but that may all be about to change. Not alone is the USA banning Huawei but they are encouraging its allies to do the same, it is just one more piece or ammunition in Trumps trade War. Keep this stock on your watch-list as it may well be a enormous benefactor of Trumps strategy.
$PINS CAUTIOUS INTO PINTEREST INC. EARNINGS
The current stock price of $28 seems to be quite a reasonable level, at least that is what they 14 analysts covering the name think. They have a average HOLD rating and a price target of $28, from which we should expect very little fluctuation on earnings . Today's earnings reaction could dictate the stocks performance for the foreseeable future. Hopefully expectations are meet and no mass sell off ensues, but we keep in mind the first few quarters of TWILIO and the volatility involved.
$PINS CAUTIOUS INTO PINTEREST INC. EARNINGS
The current stock price of $28 seems to be quite a reasonable level, at least that is what they 14 analysts covering the name think. They have a average HOLD rating and a price target of $28, from which we should expect very little fluctuation on earnings . Today's earnings reaction could dictate the stocks performance for the foreseeable future. Hopefully expectations are meet and no mass sell off ensues, but we keep in mind the first few quarters of TWILIO and the volatility involved.
$BTCUSD Weekly chart has some challenges ahead. Embrace &Enjoy
Sometimes we get bogged down in the minor details, so when we scale out into the weekly chart perspective is easier, fewer lines and drawing tools give clearer thought. Clearly we are hitting old resistance from 2017 and July 2018 giving us the possibility of a double top , which the bears are praying for. We remain optimistic and not overly concerned by the $100 moves but await $1000 moves. Our longs are protected with stop losses in place and ready to add more if this $8400 hurdle is broken. This is a amazing time to be trading so stay nimble and enjoy.
$BTCUSD Weekly chart has some challenges ahead. Embrace &Enjoy
Sometimes we get bogged down in the minor details, so when we scale out into the weekly chart perspective is easier, fewer lines and drawing tools give clearer thought. Clearly we are hitting old resistance from 2017 and July 2018 giving us the possibility of a double top , which the bears are praying for. We remain optimistic and not overly concerned by the $100 moves but await $1000 moves. Our longs are protected with stop losses in place and ready to add more if this $8400 hurdle is broken. This is a amazing time to be trading so stay nimble and enjoy.