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The Hang Seng Index rose and turned positive in the afternoon, after falling by more than 1% earlier. The Hang Seng Technology Index narrowed its decline to 0.2%, with catering, battery and heavy machinery stocks leading the gains.On February 27, Jurrien Timmer, head of global macro at Fidelity Investments, said that slightly more than half of the components of the S&P 500 index showed bullish signals. However, Timmer said, "It seems that everyone is waiting. You dont want to sell stocks in case the roller coaster arrives safely. But who else will buy after the strong inflow of funds since the US election?" "The S&P 500 weighted index is still below the high set on November 29, and only 53% of stocks are above the 50-day moving average. We are in a buy rumor, wait for news mode." Typically, stocks that move above the 50-day moving average are considered to be in an upward trend. The S&P 500 performed poorly in February as market enthusiasm for artificial intelligence and the election waned.On February 27, Citi said that the performance of Hong Kong Exchanges and Clearing Limited (00388.HK) last quarter was roughly in line with expectations, with a net profit of 3.8 billion yuan in the fourth quarter of 2024, a quarterly increase of 20% and a year-on-year increase of 46%, 2% higher than market expectations. The companys total revenue last quarter was 6.4 billion yuan, a quarterly increase of 19% and a year-on-year increase of 31%. Core revenue was 4.7 billion yuan, a quarterly increase of 26% and a year-on-year increase of 40%, which was basically in line with market expectations. The bank said that Hong Kong Exchanges and Clearing Limiteds investment income last quarter was 1.2 billion yuan, a quarterly decrease of 1% and a year-on-year increase of 12%, exceeding market expectations by 3%. Total operating expenses increased by 14% quarter-on-quarter and 5% year-on-year, in line with expectations. The EBITDA profit margin was 73.6%, an increase of 6.4% year-on-year. The second interim dividend per share was 4.9 yuan, and the annual dividend payout ratio reached 90%. The bank maintained a buy rating on Hong Kong Exchanges and Clearing Limited with a target price of HK$370.According to Interfax: Russia will extend its gasoline export license until the end of August.European Bank for Reconstruction and Development: Lowered its regional economic growth forecast to 3.2% from the previous 3.5%, and expects the average growth rate to be 3.4% in 2026.

DOGE Eyes a Return to $0.0850 to Aim for $0.090 as FTX Contagion Declines

Daniel Rogers

Nov 23, 2022 15:37

截屏2022-11-23 下午2.24.11.png 

 

On Tuesday, both Dogecoin (DOGE) and shiba inu coin (SHIB) snapped two-day losing streaks. FTX contagion risk diminished as word of FTX cash holdings and investor interest in FTX assets spread. However, technical indications remain gloomy, with exponential moving averages (EMAs) predicting additional declines.

 

On Tuesday, dogecoin (DOGE) gained 5.23 percent. Reversing Monday's loss of 2.99%, DOGE ended the day at $0.0785. Notably, DOGE closed the day below $0.0800 for the third session in a row.

 

The mid-morning low for DOGE was $0.0729. Avoiding the First Major Support Level (S1) at $0.0715, DOGE climbed to a high of $0.0796 in the early afternoon. At $0.0774, DOGE surpassed the First Major Resistance Level (R1) before retreating. However, a late surge caused DOGE to surpass R1 and close the day at $0.0785.

 

You should only trade with capital that you can afford to lose while trading derivatives. The trading of derivatives may not be suitable for all investors; thus, you should ensure that you fully comprehend the risks involved and, if necessary, seek independent counsel. Before entering into a transaction with us, a Product Disclosure Statement (PDS) can be received through this website or upon request from our offices and should be reviewed. Raw Spread accounts offer spreads as low as 0 pips and a commission rate of $3.50 per 100,000 USD traded. Spreads on standard accounts begin at 1 pip with no additional commission fees. CFD index spreads begin at 0.4 points. This information is not intended for inhabitants of any country or jurisdiction where distribution or use would violate local law or regulation.

 

On Tuesday, the price of Shiba inu coin (SHIB) increased by 4.76 percent. SHIB closed the day at $0.000000881, reversing Monday's decline of 4.21%.

 

In line with the larger market, SHIB reached a low of $0.00000817 during midmorning. Finding support at the First Major Support Level (S1) at $0.00000816, SHIB surged to a high of $0.00000883 by early afternoon. At $0.00000873, SHIB surpassed the First Major Resistance Level (R1) and closed the day at $0.00000881.

 

FTX contagion risk diminished on Tuesday, providing assistance to DOGE, SHIB, and the broader market. Updates on FTX's assets revealed a substantial cash position, which would mitigate the impact of the company's bankruptcy on its creditors.

 

Reports that Justin Sun of Tron and Brad Garlinghouse of Ripple are interested in FTX assets generated additional support.

 

Nonetheless, Twitter news remained unfavorable for DOGE. There was no new information on Twitter's resumption of the crypto integration project that would promote DOGE adoption.

 

However, investor sentiment increased significantly this morning. Risk of FTX contagion remains the primary motivator. Until the court reveals who FTX's creditors are, downside risks will persist. On Tuesday, the bankruptcy judge ruling over FTX decided to redact the identities of FTX's creditors.

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