Overnight Moves

Today, we looked at 13 charts; below are only a few. Join us in the morning call on Discord to see it all. Let’s have a look at the overnight moves. Today, we see another sea of reds, where once again, the precious metals take the hardest hits. We expect the trend of metals struggling to continue until the negotiations between Iran and the U.S. yield concrete results. Oil is once again the only winning commodity, though disappointingly, Sasol (SOL) has failed to move up since last Friday.

Meanwhile, Naspers (NPN) has seen decent growth, though it remains to be seen how well it will hold said gains, with Tencent (700) breaking its previous swing lows, which will inevitably impact Naspers and Prosus (PRX) shares. All in all, we expect another low-volume day and a quiet week, as this Friday (1st May) is an international holiday and many fund managers have simply chosen to take this week off.

Semiconductor

The Semiconductors had a huge boost on Friday, and broke to new all-time highs. They have stayed in the same ballpark, with a drop of only 1% since. Semiconductors have been on the rise since August of last year, and Intel’s (INTC) successful earnings last Thursday seem to have given the industry another boost. We intend to keep a close eye on this sector, as they are currently the biggest players driving the market. As a result, we believe that any further major growth in Semiconductors will be a prelude to growth in the market as a whole.

Intel (INTC)

Intel is currently at an all-time high, which can be attributed to its succesful after hours earnings on Thursday last week, where it surpassed expectations on both revenue and earnings.

NVIDIA (NVDA)

NVIDIA had a period of sideways movement, beginning around August of last year. It seems to be growing again as of late, and as possibly the largest semiconductor manufacturer in the market, it has benefited greatly from Friday’s resurgence. It’s worth to keep an eye on, to see if this growth continues, as it’s likely to impact the semiconductor sector, as well as the rest of the market.

POET Technologies (POET)

Poet stands out from the rest of the industry, as its share price has plummeted since Friday. It comes as a result of Marvell Technologies (MRVL) cancelling a major deal.

Earnings

There are quite a few interesting earnings scheduled this week, with a lot of heavy hitters like Microsoft (MSFT) and Google/Alphabet (GOOGL) coming up tomorrow. But there are still a few interesting earnings today that you might want to keep an eye on.

Coca Cola (KO)

Coca Cola’s earnings could be interesting even to those who have no investments in the company, as it can be a useful tool in gauging the state of consumers.

Spotify (SPOT)

Spotify surprised the market with its last earnings. And historically, the company’s shares have displayed a pattern of shifting dramatically up or downwards.

Robinhood (HOOD)

On Sunday, news broke out that Robinhood was on the receiving end of a sophisticated phishing scam. But we are mostly interested in seeing how the crypto and brokerage sides of the market are performing.

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