Objective Forex: Trading Week 8/21/16

Sunday, August 21, 2016

Trading Week 8/21/16

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UQM showed great promise through the week, touching up to 0.65 however a sharp sell off happened just before close on Friday dropping share price down around 8% to 0.55, due to the volume and quick sell off we assume these are large short share block sells combined with a large position scale out. This action is unfortunate however we still see long term potential with UQM, we will keep UQM active on our dedicated stock picks page.
Update: UQM bounced back quickly to 0.58 as of 8/24/16.

TRXC seems to be glued in the $1.40 range, we see upside however with such stagnant price and volume drop off we recommend an extremely tight stop loss or no position at all until further trend is established. 

Our AUDJPY forex play is ultimately slightly down however it did touch the 78 levels. We're switching over to a EURUSD long this week. 

Forex Play

LONG EURUSD at 1.131

Technically strong buy indication. Up-trend has been confirmed with technicals and these price levels should have strong buying support and can break for heavy upside quickly.

Stock Picks This Week

URRE (Uranium Resources) An energy company with high value playing on the strengths of increasing Uranium prices. URRE owns several valuable project locations putting total assets and price to book at around 0.28x making this an extremely attractive long term hold, with the recent price spikes earlier this month catapulting up to $1.8 a share before settling down to $1.43 on the Friday close (ending up 3.5% that day).

Monday and Tuesday will be critical for establishing investor sentiment here on this energy pick.

Buy recommendation under $1.30

INVT (Inventergy Global) This communications company is on a momentum/volume hot streak, having a reasonable earnings earlier in the week investors saw returning confidence in the long term outlook of this company with agreements and more contracts in the works, in addition to increasing revenues from their patent asset portfolio. With the moderate amount of shares sold short currently we will have strong buying pressure on Monday as shorts are closed. 

Buy recommendation under $1.50


Long NXT 4700
Long DGB 58

Our NXT play had a slight sell off as big players begin to scale out of their NXT positions, our data shows there should be one more big rise in price on NXT as late bloomers try to secure a significant stake of Ardor tokens, we recommend a big buy at these cheaper attractive levels and look to reduce your holdings throughout the next month closer to 5000+ NXT price.

DGB was fairly interesting this last week, with huge market swings and volume, the buy orders and sell orders have been shifting heavily and price ranged from 52 (Absolute bottom we called in last weeks post) per DGB up to 82 per DGB before depressurizing down to 58. We see the 58 levels as extremely attractive and with the new rumors/news of DGB in talks with Blizzard and World of Warcraft we anticipate further growth in addition to the long term growth we have always seen in Digibyte.

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