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December 13, 2024

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Why Cisco’s Stock Reversal Could Be a Game-Changer

Stocks can move fast, like the speed of an arrow flying through the air. And if you don’t monitor your charts, you can easily miss a trading opportunity.

Last week, I wrote about CSCO stock, one of the stocks filtered in my StockCharts Technical Rank (SCTR) scan. At the time, I was waiting for CSCO’s stock price to pull back to its 21-day exponential moving average (EMA). Well, it happened a lot quicker than I anticipated.

It’s good that I go through all my ChartLists every trading day. The pullback also coincided with the upward-sloping trendline. It was accompanied by declining relative performance against the Nasdaq Composite ($COMPQ) and a decline in the value of the full stochastic oscillator.

Is this a classic buy-the-dip moment? To answer the question, let’s look at the daily chart of CSCO.

FIGURE 1. DAILY CHART OF CSCO STOCK. The uptrend is still in play, making the pullback to the 21-day EMA an attractive entry point.Chart source: StockCharts.com. For educational purposes.

The uptrend broke slightly to the downside, but the support from the 21-day EMA was strong. Thursday’s price action indicated a reversal is possible.

The stochastic oscillator is approaching the 50 level and is starting to turn higher. The last two times CSCO’s stock price pulled back to the 21-day EMA, the oscillator turned up at around the 50 level. I’ll be watching to see if a similar scenario unfolds this time.

CSCO’s price action looks attractive. I’m ready to open a long trade in CSCO when the %K line crosses over the %D in the stochastic oscillator. CSCO’s stock price hit an all-time high in early December, so a pullback is a prime time to open a long position if all your criteria are met.

The Game Plan

Cisco Systems may not be a direct AI play, but it is a networking company, and the stock could benefit from tech companies’ increased AI spending. So it’s not too far-fetched to anticipate CSCO’s stock price to ride along with the AI wave.

Thursday’s price action does not yet confirm a bullish upswing, but I’ll watch this chart closely. It’s an opportunity I don’t want to miss.

Even if it looks like a near-perfect setup to buy on the dip, there’s still a chance the trade could go against me. If I enter a position at around $59 and the trade goes south, the 50-day SMA would be my maximum stop loss.

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

Chris Temple: Gold’s Next Leg Higher, Plus Uranium and Natural Gas in 2025

Chris Temple, founder, editor and publisher of the National Investor, outlined the main factors he sees impacting the gold price heading into 2025, saying the yellow metal will undoubtedly move higher.

In his view, its rise will come as market participants realize how many problems the US economy is facing.

‘I think that once that reality sets in, gold will get its next big lease on life and the stock market is going to bog down. I think we’re going to see a lot of rotation in the market that will start to favor real assets and real value — away from everybody chasing the same relative handful of stocks as we’ve seen,’ Temple explained.

Aside from gold, Temple spoke about natural gas and uranium, his other two favorite commodities in the near term.

He also discussed the potential implications of Donald Trump’s second presidency, saying it will be key to watch how he develops the US’ relationship with China, especially as the Asian nation grapples with internal problems.

‘This is the most important thing that consumers and investors and policy makers need to watch in 2025 — is Trump smart on how he deals with all of this and rebuilds our own industries to compensate for years down the road? Or is he going to be ham-fisted about it and cause more problems than he solves?’ Temple questioned.

Watch the video above for more from Temple on what’s to come in 2025.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Lawrence Lepard: “Big Print” Coming — Fully Expect US$5,000 Gold, US$200,000 Bitcoin

‘I call it a doom loop — it’s a vicious circle in the wrong direction, which I believe will ultimately lead to the government having to say, ‘Okay, this isn’t going to work. We are going to institute yield curve control or QE, or we’re going to buy the bonds,” he explained on the sidelines of the New Orleans Investment Conference.

Lepard believes it’s important to hold both gold and Bitcoin, noting that the only wrong allocation is zero.

‘I fully expect Bitcoin’s going to go to US$200,000, and I fully expect gold’s going to go to US$5,000 (per ounce) in the next couple of years,’ he said. ‘All the suffering gold stock holders out there … we’re going to be very pleasantly surprised.’

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Stock Futures Lower after S&P 500 futures ticked down 0.18%

Stock futures are trading slightly lower Monday morning as investors gear up for the final month of 2024. S&P 500 futures slipped 0.18%, alongside declines in Dow Jones Industrial Average futures and Nasdaq 100 futures, which dropped 0.13% and 0.17%, respectively. The market’s focus is shifting to upcoming economic data, particularly reports on manufacturing and construction spending, ahead of this week’s key labor data releases.

November was a standout month for equities, with the S&P 500 futures rallying to reflect the index’s best monthly performance of the year. Both the S&P 500 and Dow Jones Industrial Average achieved all-time highs during Friday’s shortened trading session, with the Dow briefly surpassing 45,000. Small-cap stocks also saw robust gains, with the Russell 2000 index surging over 10% in November, buoyed by optimism around potential tax cuts.

As trading kicks off in December, investors are keeping a close eye on geopolitical developments in Europe, where France’s CAC 40 index dropped 0.77% amid political concerns, while Germany’s DAX and the U.K.’s FTSE 100 showed smaller declines.

S&P 500 futures will likely continue to act as a key barometer for market sentiment, particularly as traders assess the impact of upcoming economic data and global market developments.

S&P 500 Index Chart Analysis

This 15-minute chart of the S&P 500 Index shows a recent trend where the index attempted to break above the resistance level near 6,044.17 but retraced slightly to close at 6,032.39, reflecting a minor decline of 0.03% in the session. The candlestick pattern indicates some indecisiveness after a steady upward momentum seen earlier in the day.

On the RSI (Relative Strength Index) indicator, the value sits at 62.07, having declined from the overbought zone above 70 earlier. This suggests that the bullish momentum might be cooling off, and traders could anticipate a short-term consolidation or slight pullback. However, with RSI above 50, the overall trend remains positive, favoring buyers.

The index’s recent low of 5,944.36 marks a key support level, while the high at 6,044.17 could act as resistance. If the price sustains above the 6,020 level and RSI stabilizes without breaking below 50, the index could attempt another rally. Conversely, a drop below 6,020 could indicate a bearish shift.

In conclusion, the index displays potential for continued gains, but traders should watch RSI levels and price action near the support and resistance zones for confirmation.

The post Stock Futures Lower after S&P 500 futures ticked down 0.18% appeared first on FinanceBrokerage.

S&P 500 climbed 0.3%, and Nasdaq-100 futures jumped 0.7%

Stock futures climbed on Wednesday, driven by strong performances from Salesforce and Marvell Technology, following upbeat quarterly earnings. Futures tied to the Dow Jones Industrial Average rose by 215 points (0.5%), while S&P 500 futures gained 0.3%, and Nasdaq-100 futures advanced by 0.7%.

Salesforce surged 12% after reporting fiscal third-quarter revenue that exceeded expectations, showcasing robust demand in the enterprise software sector. Meanwhile, chipmaker Marvell jumped 14% after surpassing earnings estimates and providing optimistic fourth-quarter guidance, indicating resilience in the semiconductor industry.

This movement follows a mixed session on Wall Street, where the S&P 500 and Nasdaq closed with small gains, while the Dow dipped slightly. The broader market has experienced a modest start to December, contrasting with November’s robust rally, but analysts anticipate a resurgence in momentum. LPL Financial’s George Smith pointed out that December historically sees strong market performance, particularly in the latter half of the month.

However, economic data introduced some caution. ADP’s report revealed that private payrolls grew by just 146,000 in November, missing estimates of 163,000. This signals potential softness in the labor market, with investors now awaiting Friday’s November jobs report for further clarity.

S&P 500 Index Chart Analysis

Based on the provided stock chart, which appears to be a 15-minute candlestick chart for the S&P 500 Index, here’s a brief analysis:

The chart shows a clear upward trend, with higher highs and higher lows indicating bullish momentum over the analyzed period. The index has steadily climbed from a low of approximately 5,855 to a recent high of 6,053.58, suggesting strong buying interest.

Key resistance is observed near 6,050-6,053 levels, as the price has struggled to break above this zone in the most recent sessions. If the index breaches this level with strong volume, it could lead to further upward movement. Conversely, failure to break out may lead to a pullback, with potential support around the 6,000 psychological level and 5,980, where consolidation occurred previously.

The candlestick patterns show relatively small wicks, indicating limited volatility, which could imply steady market confidence. However, the bullish rally could be overextended, warranting caution for traders, especially if any negative catalysts emerge.

In summary, the short-term trend is bullish, but traders should monitor resistance levels and volume for signs of a breakout or reversal. It’s also essential to watch broader market factors, as indices are often influenced by macroeconomic data and sentiment.

The post S&P 500 climbed 0.3%, and Nasdaq-100 futures jumped 0.7% appeared first on FinanceBrokerage.

Star real estate agents Alexander brothers arrested in Miami after sex assault claims

Federal prosecutors accused top real estate agents Tal and Oren Alexander and their brother, Alon, of drugging and raping “dozens of victims” over more than a decade.

The brothers were arrested in Miami Wednesday on sex trafficking charges related to the alleged assaults.

They face charges of conspiracy to commit sex trafficking and sex trafficking of a victim by force, fraud, or coercion, an eight-page indictment in U.S. District Court in Manhattan says. Tal Alexander faces an additional count of sex trafficking of a victim by force, fraud, or coercion.

Tal Alexander and Oren Alexander in New York City on Sept. 20, 2016.Sean Zanni / Patrick McMullan via Getty Images file

Isabelle Kirshner, an attorney for Alon and Oren, did not immediately respond to a request for comment on the unsealed federal indictment.

The U.S. Attorney’s Office for the Southern District of New York scheduled a press conference on the arrests for 1 p.m. ET in Manhattan.

Several women have previously filed lawsuits in Manhattan accusing the brothers of sexual assault. The brothers have denied wrongdoing.

“We are glad to hear that there will finally be some measure of accountability for the Alexander brothers and justice for their many victims,” David Gottlieb, an attorney for the plaintiffs in a number of the civil cases against the Alexanders, said in a statement.

“We applaud all the survivors who have had the strength and courage to speak up about their unimaginable experiences after years of pain and suffering,” Gottlieb said.

This post appeared first on NBC NEWS