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Techincalanalysis

USDCAD has more downside room as Canada inflation loomsUSDCAD remains depressed at the year-to-date levels ahead of Canada inflation and US Durable Goods Orders. It’s worth noting that the Loonie pair bears have little fundamental, as well as technical support unless witnessing a corrective bounce. That said, the oversold RSI appears the first catalyst suggesting a rebound in the pair price. With this, a one-month-old falling trend line, around 1.3165 by the press time, precedes the 61.8% Fibonacci retracement of its August-October 2022 upside, near 1.3210, to restrict the short-term upside of the pair. In a case where the quote remains firmer past 1.3210, the previous support line stretched from November 2022, close to 1.3350, and the piercing of the 50-EMA to the 200-EMA from above near 1.3400, will act as the last defense of the bears. On the contrary, strong Canada inflation and the downbeat US data may allow the USDCAD bears to keep the reins despite an oversold RSI. The same highlights the 1.3000 and the 78.6% Fibonacci retracement level of 1.2990 as the next targets for the Loonie pair bears. Should the pair sellers keep dominating past 1.2990, the September 2022 bottom of near 1.2950 will challenge the sellers before directing the pair towards the late 2022 trough close to 1.2725. Overall, the USDCAD bears are likely to stay in the driver’s seat even if a short-term bounce is very much likely.
by MTradingGlobal
Is Orchid Pharma Turnaround Candidate?Shaikhoology's Stock Analysis #OrchidPhar - 474 Overview:- Business got into trouble and filed insolvency which was taken over by Dhanuka Laboratories in 2020 MOAT- Company have few patented products (API) Topline:- YOY & QOQ improvement seen in recent results. Profit Growth is Organic and Margin Expansion clearly visible BottomLine :- Debt reduction, Good Reserves and Positive Cash Flow shows Financial stability. Valuations:- Overvalued as of Now. If Earning Growth Continues then valuations can be cheaper, needs EPS of 10-15 then stock price will attract new investors. Technically - Chart is bullish at Cmp and their is hurdles also as trading in WDZ Stock May See 1000-1200 levels(WSZ) if trades and sustains above 550 levels. SHARED FOR EDUCATIONAL PURPOSE ONLY, I AM NOT SEBI REGISTERED ANALYST.
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by Shaikhoo
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