Objective Forex: Trading Week 8/14/16

Sunday, August 14, 2016

Trading Week 8/14/16

With the stock market nearing record highs we are getting geared up for some intense moves coming soon, we anticipate an increase in volatility as trader euphoria increases nearing higher highs. 

Our stock pick last week TRXC drifted slightly down before closing up strongly Friday from 1.32 to 1.45, this increase shows investor confidence over the weekend signifying even more bullish action, we will continue to watch TRXC over this week and it will remain one of our stock picks.

Forex Play

LONG AUDJPY at 77.4

Technically strong buy indication. Although remaining flat last week after touching 78 we see further strengthening here as we get ready for a big move.

Stock Picks This Week

UQM (UQM Technologies) This low debt auto component company has been on our stock picks page for a few weeks now and we want to highlight it even further through our weekly plays.

Trading at about 1.5x book value and having almost no debt makes this one of our star small-caps currently. UQM Technologies focuses on electrical based components for vehicles such as generators, electric motors, and fuel cell compressors which is a rapidly growing commercial and industrial section of the electrical industry right now, the company is positioned well and had their earnings release 10 days ago on August 4th, although earnings were down slightly revenue for the quarter beat last years Q1 and grew by 94%, even with this impressive news share-price hasn't reacted heavily as people speculated on a greater beat, although the steady support in price shows Investors are still interested in the high underlying value of UQM's business.

Buy recommendation under $0.61


TRXC (Transenterix) Showing great promise on last weeks Friday close allows us to continue this pick throughout the week.

Click here to read our article on TRXC from last week.

Buy recommendation under $1.50



Cryptocurrencies

NXT continues to impress and inspire as it continues beating our price estimations. We alerted at 4800 last week and it has sharply swung in both directions over the week before ending at 5200, and currently is popping even higher on increased volume and buy side orders increasing to the 240 BTC levels up from 180 BTC buy orders earlier in the week.

DGB has also had some interesting action and volume increase, staying roughly the same exact price for extended periods of time, we expect price to increase in the short term and long term.

Update: DGB buying support grows from 60 BTC to over 300 BTC, huge increase today up 35% so far. (8/15/16) 

Long NXT 5200
Long DGB 52

As always check out more cryptocurrency information and analysis on our dedicated Crypto page. And if you're interested in mining your own cryptocurrencies for free just using your CPU and GPU power check out the minergate program.

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