Objective Forex: Trading Week 10/2/16

Sunday, October 2, 2016

Trading Week 10/2/16

Last week CHMA stayed put hovering around alert price so we are continuing this valuable biotech throughout this week as well. We have a bonus Forex play in addition to the GBPJPY continuation, we are getting ready for heavy movements in JPY pairs. 

Strong action in the cryptocurrency world as bitcoin rises in price and XMR recovers.

Forex Play

Continue LONG GBPJPY at 131
LONG USDJPY at 101.2

Technically strong buy indication. We are continuing our GBPJPY play through the week and introducing an additional USDJPY play as well to take advantage of the strengthening dollar.

Stock Picks This Week

RFIL (RF Industries) Introducing a new non-biotech pick this week, RF Industries is an electronics/components manufacturer specializing in fiber optic cabling, we see this is sort of a niche that has strong demand as more fiber optic internet systems are set up, the company already lies at a strong price with respect to assets with very little debt, we see solid support at 1.7 and anticipate growth throughout the week.

Buy recommendation under $1.75



CHMA (Chiasma) Continuation of this play from last week as we see even stronger buys coming in, read our detailed analysis on CHMA here.

Buy recommendation under $3.00


Cryptocurrencies

NXT has continued the bearish fade down to 1900, however we see strong support at these levels as big players will squeeze in for the last part of the snapshot program for NXT throughout the end of October. 

Big swings up and down for XMR as well however we ultimately see upside here.

Long NXT
Long XMR
Long DGB
Short STR

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