Japan Remains Leadership; Actionable Pullback in Europe; Downgrading China/Hong Kong There continues to be little traction above $93 on the MSCI ACWI (ACWI-US), which remains the top-end of our anticipated 2023 trading range. At the same time, we cannot get too bearish until there is a break below $90.50 short-term support. If $90.50 breaks, important downside targets are $86, $84, and $75-77 on ACWI-US. Meanwhile, the EURO STOXX 50 is pulling back toward our 4100 buy area (the uptrend from the...
What you need to know: • The precious metals and mining market significantly outperformed broader indices in the month of March with the GDX rising 15% versus the TSX being down slightly • Gold rallied heavily following the collapse of several major banks and the U.S. Fed guiding for a pause on rates in the near term • This month only strengthens our confidence that 2023 will be a standout year for both precious metals and base metals and encourage investors to position themselves accordingly ...
S&P 500, Nasdaq 100, DJIA Testing Support Large-cap indexes are approaching critical support levels, including 4257 on the S&P 500, $334 on the Nasdaq 100 (QQQ), and 33,250 on the Dow Jones Industrial Average. These are our "lines in the sand" moving forward. Our baseline expectation is for supports to hold, but breakdowns below these levels would not be surprising and would likely mean an additional 8-15% downside based on measured moves of their respective chart patterns... see chart below an...
Continued Absence Of Breakdowns Is A Positive Sign The market continues to send mixed signals (some neutral or healthy signals but some risk-off signals as well), but as long as the Russell 2000 index (IWM) is above $208, the Russell Micro Caps index (IWC) is above $134-$135, and the S&P 500 is above 4495, we cannot be bearish. As long as prices are above the aforementioned levels we expect more consolidation and mixed markets, but breakdowns would mean additional downside ahead. Risk-Off Sign...
Bullish Outlook Intact; Mining For Gold As highlighted in last week's U.S. Macro Vision, our outlook is now bullish as we saw the breakouts we needed in the Russell 2000 (IWM) and Industrials (XLI). Considering these breakouts along with ongoing healthy market dynamics, we continue to believe we have officially entered a new broad-based bull market. Materials Breaking Out To New Highs, Joins Other Cyclicals. Materials (XLB) is the latest Sector to break out to new 2021 highs, providing more ev...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Chinese Indexes Headed Higher Global equities (MSCI ACWI, ACWI ex-US, and EAFE) remain bullish with their uptrends intact, and the MSCI Emerging Markets index continues to hold above major support at $52 on the EEM-US. Additionally, Europe's STOXX 50 and Hong Kong's Hang Seng are on the cusp of short-term breakouts, while the major indexes in China (Shanghai Composite & CSI 300) are currently breaking above short-term resistance... see chart below. Considering the absence of breakdowns and the ...
Summary Marketline's Draig Resources Ltd. Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Draig Resources Ltd. since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the org...
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