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Current Analysis: Smith & Wesson

Current Analysis: Smith & Wesson

Image Source: DepositPhotosSmith & Wesson Brands Inc (SWBI) is a U.S.-based leader in firearm manufacturing.It operates under one reportable segment: Firearms, which includes firearms distribution and manufacturing services.The company manufactures handguns, long guns, sporting rifles, shooting gear, and suppressor products.The firm’s brand portfolio consists of Smith and Wesson, M&P, Thompson/Center Arms, Performance Center, and Gemtech; […]
Silver Price Forecast: XAG/USD Falls To Confluence Of 50/100-DMAS Ahead Of $28.00

Silver Price Forecast: XAG/USD Falls To Confluence Of 50/100-DMAS Ahead Of $28.00

Silver prices tumbled toward a critical confluence technical level on Wednesday, after bulls failed to sustain the grey’s metal quote above the $30.00 a troy ounce level. Therefore, the XAG/USD finished yesterday’s session with losses of 2.84%, yet as Thursday’s Asian session begins, the XAG/USD trades at $29.10, virtually unchanged. XAG/USD Price Forecast: Technical outlookSilver’s uptrend remains […]
Gold Price Drifts Higher Ahead Of US GDP Data

Gold Price Drifts Higher Ahead Of US GDP Data

 Gold price (XAU/USD) recovers some lost ground on Thursday after bouncing off the weekly lows in the sub-$2,500 region per troy ounce. The expectation of US interest rate cuts might lift the Gold demand as lower interest rates reduce the opportunity cost of holding non-yielding gold. Additionally, the current political uncertainty in the US, geopolitical tensions in […]
Grayscale’s Bitcoin stash down over 60% since ETF debut

Grayscale’s Bitcoin stash down over 60% since ETF debut

Key Takeaways Grayscale’s spot Bitcoin ETF records drastic drop in holdings. BlackRock’s iShares Bitcoin Trust now leads the Bitcoin ETF market. Share this article Grayscale, the second-largest crypto asset manager, has seen over 60% of its Bitcoin holdings in its Grayscale Bitcoin Trust (GBTC) slashed since the fund was converted into an exchange-traded fund (ETF), […]
Bitcoin Plummets To $59,000, On-Chain Data Reveals Why

Bitcoin Plummets To $59,000, On-Chain Data Reveals Why

Bitcoin has observed a plunge to the $59,000 level during the past day. Here’s what could be behind it, according to on-chain data. Bitcoin Exchange Inflow Spiked Just Before The CrashIn a new post on X, CryptoQuant Head of Research Julio Moreno discussed the latest trend in Bitcoin Exchange Inflow. Exchange Inflow is an on-chain metric that tracks the total amount of […]
Largest Cannabis Stocks Are Down +10% In Last Two Days: Here’s Why

Largest Cannabis Stocks Are Down +10% In Last Two Days: Here’s Why

An IntroductionAfter moving to federally reclassify cannabis as a Schedule III drug under the Controlled Substances Act (CSA) back in March, the Department of Justice (DOJ) opened a 60-day public comment period that saw more than 40,000 submissions. Now that the Drug Enforcement Administration (DEA) has reviewed the comments, it announced after the markets closed […]
Asia Morning Bites – Thursday, August 29

Asia Morning Bites – Thursday, August 29

Australian private capex will give a first glimpse of next week’s 2Q24 GDP prospects on an otherwise quiet dayGlobal Macro and Markets Global Markets: It was another very quiet day for US Treasury markets. Neither the 2Y or 10Y did much, and that was despite some very dovish comments from the Fed’s Bostic, who seemed unconvinced […]
USD/CAD Remains On The Defensive Below 1.3500 Despite USD Recovery

USD/CAD Remains On The Defensive Below 1.3500 Despite USD Recovery

The USD/CAD pair trades on a weaker note near 1.3480 during the early Asian session on Thursday. The US Federal Reserve (Fed) Chair Jerome Powell signalled that the central bank is ready to ease its monetary policy this year, which weighed on the Greenback in the previous session. Investors await the preliminary US Q2 Gross Domestic Product (Q2) and the […]
The Implications Of The Reaction To NVDA Earnings

The Implications Of The Reaction To NVDA Earnings

 Nvidia (NVDA) reported a terrific quarter after the close Wednesday – but its stock is currently -7% in the after hours. What does it mean?Let’s start with the numbers. Revenue of $30 billion beat guidance and estimates as did 3Q guidance of $32.5 billion. In fact it’s hard to quibble with anything in what was […]
GBP/USD Backslides As Bullish Pressure Wanes

GBP/USD Backslides As Bullish Pressure Wanes

GBP/USD fell back below 1.3200 on Wednesday after near-term bullish momentum eased. Markets have piled into a one-sided risk appetite stance as investors hunker down for the long wait to an anticipated kickoff of a rate-cutting cycle from the Federal Reserve (Fed) in September.UK economic data remains limited this week, leaving the Pound Sterling exposed to broad-market sentiment flows. […]