What key technical levels are play (and why) in the new trading week for the EURUSD?

The EURUSD traded below the 200 week moving average over the prior 3 trading weeks. Each of those weeks could not close below that MA level. In fact, the last 3 weeks closed between the 100 week MA above (blue line in the chart above) and the 200 week MA below (see green line in the chart above).

In the October 18 to October 22 trading week, the 200 week MA came in at 1.1568 while the 100 week moving average came in at 1.16147. The low for the week came in at 1.1571 – 3 pips above the 200 week MA level.

Did buyers lean against the 200 week MA level at the lows?

It sure seems that way.

That low was on Monday and looking at the hourly chart below, the low also stalled at the 200 hour MA (green line in the chart below) at the same time. There were TWO good reasons to buy and buyers obliged/leaned. They pushed the price higher.

The other key level on weekly chart was the 100 week MA at 1.16147.

On Monday, that MA was rebroken to the upside, corrected to 1.16067 at the end of day and raced back above the 100 week MA to the high for the week at 1.16687 on Tuesday. That high stalled just ahead of the 38.2% of the move down from the September high at 1.16705 (you can see that retracement on the weekly chart).

If buyers leaned against the 200 week MA, they seemed to have also leaned against the 38.2% retracement of the move down from the September high.

So the week range, was influenced by technical support below (200 week MA) and technical resistance above (the 38.2% of the move down from the September high.

EURUSD on the hourly

What about the new week?

In the new trading week, focus on the down side needs to be at near the 100 week MA level (likely to be around 1.1619 in the new trading week). That level also corresponds nicely with the post Tuesday swing lows at 1.1616 on Tuesday and 1.16185 on Friday. The cluster of those levels should be a barometer for the buyers and sellers. Stay above 1.1616-1.1619, more bullish. Move below, more bearish.

The current price near the close for the week is at 1.1640.

On the topside, although traders made a mess of the 100 hour MA on Thursday and Friday, if traders get a feeling on which way it wants to go, it will start to move away from that MA at 1.1638 currently. From there getting above 1.1656-58 would be the next step before the pair tackles the highs from Tuesday and Thursday at 1.1666 to 1.16687 and the 38.2% retracement at 1.1670.

Get above 1.1670 and we should see further buying momentum.

That low was on Monday and looking at the hourly chart below, the low also stalled at the 200 hour MA (green line in the chart below) at the same time. There were TWO good reasons to buy and buyers obliged/leaned. They pushed the price higher.

Source: https://fxnewest.com/2021/10/24/what-key-technical-levels-are-play-and-why-in-the-new-trading-week-for-the-eurusd/

Investment lets Humane Society roll out Wellness Waggin’


Humane Society Silicon Valley has a new name for its Animal Community Center in Milpitas and funding for its new mobile veterinary clinic.

The center was renamed in honor of Michelle Oates Detkin and Peter Detkin, whose $10 million multi-year investment will launch the Wellness Waggin’ to allow the Humane Society to provide low-cost and no-cost veterinary care to low-income residents. The mobile clinic is set to roll out in November, and the Humane Society plans to seek additional funding to keep the program on the road.

Next month will also mark the formal unveiling of the Peter Detkin and Michelle Oates Detkin Animal Community Center at a community event. In addition to their three children, the couple, who live in Los Altos Hills, have a dog and two cats they adopted from the Humane Society.

Michelle Oates Detkin said investing in the Wellness Waggin’ is “about pets and people—the human-animal bond—and about preserving relationships that sustain people, particularly now, with the future so uncertain for many.

“Equity demands of us as a community that families, regardless of income, are offered the opportunity to experience the value that having a pet in their home can bring,” the retired attorney said in a statement.

Her husband, a managing director at Sherpa Technology Group and a Humane Society board member, concurred.

“Bringing a pet into a home makes a family whole,” Peter Detkin said, adding that the Wellness Waggin’ will help “ensure that families or individuals with pets, regardless of economic means, can keep their pets healthy and receive the veterinary care they need.”

When asked about the Animal Community Center being named in for her and her husband, Michelle Oates Detkin said, “We accepted the honor of having our name on the building in the hopes it would inspire others to get involved.

“Our dream is that having a name on this building makes it a more personal, more accessible and more welcoming center for the community.”

Next month will also mark the formal unveiling of the Peter Detkin and Michelle Oates Detkin Animal Community Center at a community event. In addition to their three children, the couple, who live in Los Altos Hills, have a dog and two cats they adopted from the Humane Society.

Source: https://www.mercurynews.com/2021/10/24/investment-lets-humane-society-roll-out-wellness-waggin/

Horvat nets 2 as Vancouver Canucks spoil Kraken’s home opener with 4-2 win in Seattle – Victoria News

Bo Horvat scored his second goal of the game on the power play with 7:08 remaining, and Conor Garland scored three minutes later as the Vancouver Canucks spoiled the Seattle Kraken’s home debut with a 4-2 win on Saturday night. done. .

Garland assisted in Horvat’s first goal in the second period, and then scored his third score of the season to cap Vancouver’s return and a celebration with the Kraken playing his first home game in his new $1 billion field. ruined the night.

Justin Dowling added a blank-net goal for Vancouver in the final moments, which sent frustrated Seattle fans out, and a successful six-game road trip to the Canucks (3-2-1) to start the season. capped it.

Vince Dunn scored the first goal at the Climate Pledge Arena in the closing seconds of the first period, and Mark Giordano scored his first goal of the season at the start of the third period to give Seattle a 2–1 lead. But Seattle could not take the lead for the third time in their six games.

Thatcher Demko scored 29 saves and goals for Vancouver. He kept the Canucks in the game in the second period when Seattle controlled most of the action but was unable to score.

Philippe Grubauer scored 22 goals for Seattle.

Opening night under the roof of a renovated billion-dollar arena took three years to build, but even longer for Seattle area sports fans, who have eagerly await the return of the winter sports team following the departure of the SuperSonics .

Fans lined up outside the Climate Pledge Arena a few hours before the puck drop and most were in their seats before the Kraken took to the ice for a warmup. Most were in Kraken jerseys, though some Canucks fans made their way inside the building for the first matchup of the budding Pacific Northwest rivalry.

Showing for the Seattle Giants #secracken. pic.twitter.com/ojTV0aS4z3

— Seattle Kraken (@SeattleKraken) 24 October 2021

Those in Seattle Blue had to wait the last seconds of the first period for it to finally erupt.

After an extended stretch of occupation in the Vancouver area, Puck was cycled to Dunn. As the period was about to end, Dunn threw a wrist shot in front of Demko, with 4.6 seconds left to score the first goal in the new building.

But Demco was not interested in letting the night become a big party for Seattle. Demco was very good in the second period, especially a sequence coming late in the period, negating Calle Jarnrock, and barely 60 seconds later stopping Mason Appleton on the breakaway, making the shot over the goal line. Reached behind to stop the deceit.

notes: Seattle CEO Todd Leiveke announced before the game that No. 32 was being retired by the team in honor of becoming the 32nd franchise, and that a 32,000 season ticket deposit received in early 2018 helped reward the franchise. … Garland has eight points in his first six games for Vancouver after arriving as part of an off-season trade with Arizona.

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Vancouver: The Canucks opened a seven-game homestand Tuesday night against Minnesota.

Seattle: Kraken hosted Montreal on Tuesday night.

Tim Booth, Associated Press

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Source: https://fxtoday.net/horvat-nets-2-as-vancouver-canucks-spoil-krakens-home-opener-with-4-2-win-in-seattle-victoria-news/

The 10 Best Cryptocurrencies to Buy in September 2021

Cryptocurrency is booming like never before these days. Many investors are looking forward to investing in cryptocurrencies with their gaining popularity. But sometimes they fall into a dilemma of deciding on what tokens to invest upon. So here we are with the best cryptocurrencies to buy this September in the highly volatile crypto market. Why late? Let’s quickly scroll down to know more.

1 Bitcoin (BTC)

Market Cap: US$790.32 Billion

Bitcoin was established in 2008 by Satoshi Nakamoto. The cryptocurrency is decentralized digital money that can be exchanged directly from one user to another on a peer-to-peer basis on the bitcoin network. Bitcoin tops the list of 10 best cryptocurrencies to buy this September. Cryptography is used by network nodes to validate transactions that will be further recorded on a blockchain which is a public distributed ledger. Even though bitcoin is highly volatile in the crypto market it still remains the best cryptocurrency to buy.

2 Ethereum (ETH)

Market Cap: US$335.53 Billion

Ethereum is also a decentralized digital platform that enables the creation and execution of DApps and smart contracts without any need for third-party fraud, control, downtime, and interference. Ethereum has always been in the second position on the best cryptocurrencies to buy. It is a permissionless, non-hierarchical collection of servers that produce and reach consensus on the ever-evolving networks of blockchain. The cryptocurrency has also been in competition with Bitcoin in the crypto market.

3 Tether (USDT)

Market Cap: US$68.68 Billion

It was priorly known as Real coin, later to be known as Tether. It is the first cryptocurrency to be backed by the US dollar. Tether was established in 2014, whose crypto tokens are insured with an equal number of traditional fiat currencies such as the dollar, pound, and yen. Tether is a stable coin that makes it to the list of the best cryptocurrencies to buy. It is also a blockchain-based cryptocurrency backed by fiat currencies.

4 Cardano (ADA)

Market Cap: US$65.16 Billion

Cardano is an open-sourced project and a cryptocurrency system that aims to build an open public blockchain for all payment systems. Its internal coin is called Ada. It is also one of the decentralized blockchain platforms which use the native cryptocurrency. Cardano makes it to the list of best cryptocurrencies to buy in the crypto market with its plans to enable smart contacts too.

5 Bitcoin Coin (BNB)

Market Cap: US$59.23 Billion

BNB was developed by Binance, which is a major cryptocurrency exchange. It is an ERC20 token that is based on Ethereum. The best part is that it can be used to pay a commission for purchase on the exchange. Did you know that a total of nearly 200 million tokens were manufactured for the currency? As per the Whitepaper, Binance plans to use 20% of its earnings each quarter to buy back and burn BNB until 50% of the total BNB supply has been burned, making it to the list of best cryptocurrencies to buy in the crypto market.

6 XRP

Market Cap: US$42.90 Billion

XRP is made by Ripple Labs that aims to create secure and fast payment systems which can work globally. This cryptocurrency is also perceived as the most reliable cryptocurrency, having a huge loyal base of investors. Hence making it to the list of best cryptocurrencies to buy this September.

7 Solana

Market Cap: US$38.05 Billion

Solana is a highly functional open-source project that banks on blockchain technology’s permissionless nature in providing decentralized finance. Solana was established in 2017 and launched in 2020 by Solana Foundation. Though it was launched late into the crypto market, it made it to the best cryptocurrencies to buy this September.

8 USD Coin

Market Cap: US$29.87 Billion

USD Coin is a digital stable coin that is again pegged to the US dollar as Tether. The goal of this cryptocurrency is to make transactions faster than traditional payments reducing the volatility which is present in the crypto market. This point makes the USD Coin take place in the list of best cryptocurrencies to buy in September.

9 Polkadot (DOT)

Market Cap: US$26.88 Billion

Polkadot is a kind of cryptocurrency which aims to make blockchain interoperability accessible to the general public. The decentralized internet of Polkadot allows different blockchains to share information and data via the Polkadot relay chain. This cryptocurrency provides a bridge for networks to build on Polkadot that can also work on Ethereum and Bitcoin. Even though it is faster and scalable, it makes the list of best cryptocurrencies to buy in the crypto market.

10 Dogecoin (DOGE)

Market Cap: US$26.77 Billion

Dogecoin was eventually created as a joke by software developers, Billy Markus and Jackson Palmer. It was created to mock the crazy crypto market at that time. But when SpaceX launched its first cryptocurrency-funded space mission, that’s when Dogecoin funded ridesharing flight to the moon. This has earned Dogecoin a much higher mining rate since its inception. But this cryptocurrency’s craze has been gaining a lot of attention these days making it into the list of best cryptocurrencies to buy.

Ethereum is also a decentralized digital platform that enables the creation and execution of DApps and smart contracts without any need for third-party fraud, control, downtime, and interference. Ethereum has always been in the second position on the best cryptocurrencies to buy. It is a permissionless, non-hierarchical collection of servers that produce and reach consensus on the ever-evolving networks of blockchain. The cryptocurrency has also been in competition with Bitcoin in the crypto market.

Source: https://coingraph.uno/2021/10/22/the-10-best-cryptocurrencies-to-buy-in-september-2021/

Modern Maids Now Accepts Bitcoin, Other Cryptocurrencies

Customers Now Enjoy Even More Convenience and Savings

DALLAS, Oct. 22, 2021 (GLOBE NEWSWIRE) — Modern Maids, the Dallas area’s premier residential cleaning service, is making it even easier to book and pay for its white-glove services. The company recently announced that it will accept Bitcoin and other leading cryptocurrencies as payment for any of its extensive line of one-time, regularly scheduled and deep-cleaning maid services.

“As our name suggests, Modern Maids is an early adapter. We embrace state-of-the-art cleaning techniques and products,” said owner and CEO Justin Carpenter. “So, it is natural for us to become one of the first residential cleaning services in Texas to offer our customers this emerging payment option. We are proud to be counted among some of America’s most respected firms in accepting crypto, including our own Dallas Mavericks.”

Carpenter said that accepting Bitcoin and other digital currencies brings several advantages to all Modern Maids clients, whether they are homeowners, apartment dwellers or property owners, throughout the uptown and downtown Dallas areas, as well as Irving, Grapevine, Plano, Frisco, Arlington and most of the Metroplex’s northern and western suburbs.

“With all our connected devices, security and privacy have become a greater concern for all of us,” he said. “Our clients can pay their invoices without divulging any personal or financial data that could be intercepted. I feel that accepting Bitcoin and other crypto assets helps us achieve a new level of modern experience. Within the next decade, we could be seeing a huge rise in cryptos and want to be a business that helps lead that path.”

Modern Maids already has revolutionized the home and apartment cleaning industry with its professionalism and ease of use. The company is intent on providing customers quality service and the peace of mind that comes with knowing they will be coming home to a spotless space where they can relax, recharge and prepare for their next activity. Engaging Modern Maids is not just affordable, but it can also give customers more time to be productive, earn more money, and spend quality time with their loved ones.

About Modern Maids

Modern Maids (www.modern-maids.com, 469-430-8860) provides certified, experienced, background-checked cleaning professionals directly to customers’ homes. Clients can book a convenient time online. Using non-toxic, environmentally friendly products whenever they are available, Modern Maids offers not only “routine” and “deep cleaning services,” but also move- in/move out care so renters can recover their deposits and lessors can quickly prepare their properties for the next tenant.

Contact Information

Justin Carpenter, CEO
2500 McKinney Ave, Dallas, TX 75201
469-430-8860
services@modernmaidsdallas.com

This content was issued through the press release distribution service at Newswire.com.

Source: https://finance.yahoo.com/news/modern-maids-now-accepts-bitcoin-130000053.html

Russian Oil Companies Propose to Mine Cryptocurrencies at Their Wells

October 22, 20210 Comments

Companies involved in oil production in Russia have come up with a project to organize the mining of cryptocurrencies right next to the oil fields they are exploiting. Data centers devoted to coin minting can be powered by the excess gas released during oil extraction which would otherwise be wasted.

Ministries and Central Bank Review Crypto Mining Project by Russian Oil Industry

Government institutions in Moscow are now discussing an initiative launched by Russia’s oil companies to start mining cryptocurrency at their extraction sites. The industry is proposing to utilize associated petroleum gas (APG) to generate electricity that can be used in the energy-intensive process of digital coin minting.

Experts say the project can potentially attract foreign investors, primarily from China where authorities have been cracking down on bitcoin mining this year. The industrial activity is effectively banned in the People’s Republic while in the Russian Federation mining isn’t prohibited although it is not properly regulated either.

The Ministry of Industry and Trade has recently asked the Ministry of Digital Development and the Central Bank of Russia (CBR) for their feedback on the idea, Russia’s leading business daily Kommersant reported, quoting a letter sent by the Deputy Minister of Industry Vasiliy Shpak. His department asks the monetary authority in particular whether this would be a legitimate undertaking.

The main act regulating cryptocurrencies in Russia is the law “On Digital Financial Assets” which went into force earlier this year. Additional legislation is needed, however, regarding their circulation in Russia and related operations. The legalization of crypto mining as an industrial activity has been gaining support in government circles with the chairman of the parliamentary Financial Market Committee, Anatoly Aksakov, stating in September that it should be registered as such and taxed accordingly.

Kommersant also quotes a source close to the Ministry of Industry who revealed that one of the large Russian oil companies already has a crypto mining project underway and would like to scale it up. “But this segment is in a legally gray zone and the company fears a negative reaction from the central bank, so it turned to the Ministry [of Industry] which can discuss the risks with the regulator,” the knowledgeable person told the newspaper.

According to available official information, so far only the state-run Gazprom Neft, a subsidiary of Russian energy giant Gazprom and third-largest oil producer in the country, has an actual mining project. The company launched it at its oil field in Khanty-Mansi Autonomous Okrug, a region in Tyumen Oblast. According to a report from January, the oil giant managed to mint 1.8 BTC in a month. Gazprom Neft declined to comment on the matter.

Do you think authorities in Moscow will allow Russian oil companies to mine cryptocurrencies at their oil wells? Tell us in the comments section below.

Tags in this story

Authorities, Bitcoin mining, CBR, Central Bank, coin minting, crypto farms, crypto mining, cryptocurrency mining, Data Centers, excess energy, Gas, Gazprom, Gazprom Neft, initiative, institutions, mining, ministries, OIL, oil companies, oil extraction, oil fields, oil production, oil wells, petroleum gas, project, Russia, russian

Image Credits: Shutterstock, Pixabay, Wiki Commons

Source: https://cryptocurrencysecretnews.com/2021/10/22/russian-oil-companies-propose-to-mine-cryptocurrencies-at-their-wells/

Analyst who was correct with the 40% increase in cryptocurrencies in September now points to 6 cryptoassets to watch in November

After the approval and introduction of the ProShares Bitcoin (BTC) ETF, which opens another gateway for investors around cryptocurrencies, Analysts practically agree that the next price target for BTC is to hit $ 100,000.

To the Ray Nasser, Arthur Mining CEO, Bitcoin ETF trading on the NYSE is paving the way for a better quality ETF, and reaching the $ 100,000 mark will still be possible in 2021.

“Bitcoin has just beaten the Swiss franc in terms of market capitalization. If it hits $ 69,000 it will outperform silver, and I think there is a chance that BTC will hit $ 100,000 or more by the end of the year. It is optimistic that the USD 135,000 ”he concluded.

This is the same opinion from Lake Tasso, Cryptocurrency specialist and founder of Financial Move. For him, the market is now heading for $ 100,000.

“The most anticipated ETF in the market is Grayscale, which will convert its $ 19 billion into an ETF. With this breakout and a favorable scenario for Bitcoin, we will move the market towards $ 100,000, ”he says.

Ethereum and PolkadotAnalyst who was correct with the 40% <a href=increase in cryptocurrencies in September now points to 6 cryptoassets to watch in November” width=”832″ height=”451″>Analyst who was correct with the 40% increase in cryptocurrencies in September now points to 6 cryptoassets to watch in November

However, as far as Bitcoin’s next steps are safe, Analysts differ in which cryptocurrency will follow in BTC’s footsteps and soar more than 100% to new highs.

For Lago, Ethereum (ETH) is a strong candidate as it has already shown that its price is solid and can keep up with Bitcoin’s rallies.

“Ethereum also followed the move, trading at $ 4,129 at the time and has its all-time high (based on the closing price of the daily chart) at $ 4,200 I think that can reach the region of USD 6,000 and then USD 8,000”.

The analyst recalls that ETH went through EIP-1559 and London, the updates of which reduce the supply of the currency and have not yet been reflected in the price increase. Hence the fundamentals are strong.

In addition, for him is another cryptocurrency with high potential Polkadot (DOT) due to its unique property of parachets.

“DOT, which is going through Parachains auctions, has its favorable curve to break historical high, which is in the range of $ 48. In general, the cryptocurrency market is extremely bullish and very favorable for another positive wave, ”he said.

6 cryptocurrencies to buy

As Tasso, analyst and moderator at Altcoin Daily, Austin Arnold points out that cryptocurrencies linked to smart contracts have the greatest upside potential in this new cycle.

Arnold got it right back in August this year when released a review stating the purchase of six cryptocurrencies for the month of September. Since then, its figures have risen almost as much as Bitcoin over the reporting period.

While BTC is up 54%, The altcoins reported by the analyst rose to 49% and none of them were in the red, with Vocational Education up 49%, Tezos 44%, ETH 49%, Atom 12% and ADA 8%.

Now the analyst has published a new list of his nominations and it has to Polygon (MATIC) firstly, which, in his opinion, is gaining momentum after signing an alliance with DraftKings.

Arnold shares a statement from DraftKings President of Global Products and Technology, Paul Libermann, explains how the company positions itself to grow with Polygon.

“Although the DraftKings market is still in its infancy, we are optimistic that blockchain, NFT, cryptocurrencies and more will be showcased alongside Polygon and new innovations for digital collectibles as we prepare for Web 3.0.”

Polkadot and Vechain

After Matic, Arnold stands out, as does Tasso Lago, Polkadot. To justify your nomination, please note a Tweet Latest news from DOT founder Gavin Wood, who explains that close to 19 million DOT tokens are currently stored in the DOT treasury to fund community projects.

If a DOT is not used, it will burn out. Currently, the Polkadot Treasury burns 239,988 tokens every month. after Gavin Wood.

• The DOT token is becoming increasingly scarce when it is burned or used. We recently saw an increase in the price of DOT. This could be related to some interesting future developments, such as the upcoming launch of Parachain and Slot auctions; these parachain auctions will also take DOT off the market.

And with the first 11 Parachains auctions coming to Polkadot next month, along with 100 or more slots available, this could bolster Polkadot’s presence in the crypto industry and cement the growing status of the cryptocurrency industry. .

The third coin Arnold looks at is again VeChain (VET). The trader notes that VeChain recently partnered with major logistics company DHL for the corporate issuance of non-fungible tokens, NFT.

“This collaboration with DHL China is one of the first things customers can experiment with customizing the DHL mascot and then embossing it as an NFT in the VeChainThor blockchain solution.”

Cardano, Link and Ethereum

Next up is the smart contracts platforms Cardano (ADA). Arnold points this out Cardano appears to be gaining traction after partnering with satellite television provider DISH and announcing that the network has received $ 100 million to invest in Cardano-focused projects in Africa.

The analyst also states Chain link (LINK), notes that despite the token’s poor performance in recent months, He believes LINK still has great upside potential as partnerships continue to grow month by month and 84 integrations were made in September alone.

“I understand, but in my opinion Chainlink still has a lot of room for growth. Think about it: Chainlink already has a ton of great exclusive partnerships with big companies, Google and Oracle, to name just two, already over 75 different blockchains. use Chainlink technology and are used by many data sources including USD currency pairs [dólar estadounidense]. It’s a solid foundation.

Finally, the analyst is also enthusiastic about the leading smart contracts platform, Ethereum, which is said to be preparing for a massive 2022.

He notes that the developers of Ethereum has announced that the network will switch to Ethereum 2.0 from May to June 2022. making the blockchain a proof-of-stake protocol.

“The code should be ready by February 2022. The merger with the mainnet, for ETH 2.0, in June 2022 at the earliest. Next year will be known as the ETH year. There it is. DeFi (decentralized finance), that’s where the NFTs are .

Disclaimer of liability: This is not an investment recommendation. Every investment must be accompanied by an in-depth study and investors must take their own risk in making their decision.

Source: https://www.europeworldnews.com/analyst-who-was-correct-with-the-40-increase-in-cryptocurrencies-in-september-now-points-to-6-cryptoassets-to-watch-in-november/

Factbox-China Evergrande’s Upcoming Bond Coupon Payments

SHANGHAI (Reuters) – China Evergrande Group on Friday confounded market expectations that it would formally default this weekend, supplying funds to pay interest on a U.S. dollar bond before the expiration of a 30-day grace period on Oct. 23.

Evergrande missed coupon payments totalling nearly $280 million on its dollar bonds on Sept. 23, Sept. 29 and Oct. 11, beginning 30-day grace periods for each.

While the developer does not have any more onshore or offshore bonds maturing this year, it still faces coupon payments on its offshore bonds totalling nearly $340 million between Nov. 1 and Dec. 28, on top of $195 million in outstanding missed payments.

Evergrande’s next payment deadline is Oct. 29 with the expiration of the 30-day grace period on its Sept. 29 coupon.

Following is a list of upcoming U.S. dollar bond coupon payment due dates for Evergrande and its units from Nov. 1 through Dec. 28, according to Refinitiv data:

Maturity Ccy Outstanding Next Next RIC

amount coupon coupon

date amount

Nov. 6, USD $645 mln Nov. 6, $41.93

2022 2021 mln

Nov. 6, USD $590 mln Nov. 6, $40.56

2023 2021 mln

Jun. 28, USD $1.34 bln Dec. 28, $50.43

2023 2021 mln

Jun. 28, USD $4.68 bln Dec. 28, $204.77

2025 2021 mln

(Reporting by Andrew Galbraith; Editing by Sam Holmes)

Copyright 2021 Thomson Reuters.

Source: https://money.usnews.com/investing/news/articles/2021-10-22/factbox-china-evergrandes-upcoming-bond-coupon-payments

Without Profits, Cloudflare Stock Is Too Expensive No Matter What

Cloudflare (NYSE:NET) stock has performed extremely well in 2021. As of Oct. 20, it’s up 130%, opening at $175.80. With this in mind, many investors think that there are only two scenarios for NET stock. Either this momentum will continue, sending prices higher, or more prudent, conservative investors and traders will wait for a dip to occur to buy at a lower price and have a margin of safety. That being said, it’s never a good idea to chase a stock price higher if your only argument is that you don’t want to miss out.

Close up of Cloudflare logo at the Company's headquarters

Source: Sundry Photography / Shutterstock.com

My take on the matter is that NET stock now is too overvalued; a dip would not make it a bargain. Some investors may focus on technical analysis and argue that Cloudflare shows strong momentum. This is true, but the stock is also at extreme levels based on technical analysis indicators such as the popular RSI(14) indicator, which sits at 74.68. Anything above a 70 is considered overbought.

The truth is, of course, that we cannot predict the outcome with accuracy — maybe NET stock goes up, or maybe it goes down. Momentum stocks may continue to move higher and leave fundamental analysts like me questioning the logic. The stock market is not always rational. That being said, I’m interested in maximizing the shareholder’s value, valuation and financial performance.

The Value of NET Stock

Cloudflare offers a variety of cloud-based services to websites. Its portfolio of products is used to ensure reliable, secure performance for critical web infrastructure. It might be tempting to think that Cloudflare’s price corresponds to incredible shareholder value, but that’s not the case.

Shareholder value comes from creating profit. Do not confuse the stock price with shareholder value.

It is tempting to argue that with the NET stock having just hit an all-time high, management must be doing things right. However, Cloudflare has not achieved yet any profitability. Cloudflare is losing money and has had a net loss quarter after quarter.

There are several valuation metrics we can use to analyze whether NET stock is attractive or not beyond just income. The company has a trailing twelve months free cash flow loss of $53 million. The TTM price to sales ratio is 96.

On the other hand, revenue growth is strong. Year over year, Cloudflare’s quarterly revenue is up 53%. Investors consider NET stock a growth stock and completely ignore its valuation. There’s danger in that belief, though.

When Will Cloudflare Be Profitable?

Cloudflare had a gross margin of 77% in its most recent quarter. The Q2 financial results had a few impressive numbers. Besides 53% revenue growth, the company also highlighted record dollar-based net retention of 124% and 140 new large customers in the quarter.

CEO Matthew Prince said, “We had our strongest quarter ever as a public company, and our revenue growth continued to accelerate, growing 53% year-over-year.”

That doesn’t change the fact that Cloudflare is losing money consistently as of 2016. In 2020 the reported net loss was $119.37 million, compared to a net loss of $105.83 million in 2019.

Fundamentals other than revenue growth show that Cloudflare has many flaws. The company has no profits, negative free cash flow, and a valuation that flirts with extreme values on a relative basis.

I would avoid NET stock for now. Until I see revenue growth turn to profits, I consider Cloudflare a very expensive stock to avoid. The current stock price is very disconnected from its intrinsic value.

On the date of publication, Stavros Georgiadis, CFA did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

My take on the matter is that NET stock now is too overvalued; a dip would not make it a bargain. Some investors may focus on technical analysis and argue that Cloudflare shows strong momentum. This is true, but the stock is also at extreme levels based on technical analysis indicators such as the popular RSI(14) indicator, which sits at 74.68. Anything above a 70 is considered overbought.

Source: https://internationallnews.com/2021/10/21/without-profits-cloudflare-stock-is-too-expensive-no-matter-what/

Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday

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TSC and RIVR are leading today’s lists

By William White, InvestorPlace Writer Oct 21, 2021, 7:26 am EDT October 21, 2021

Good morning, investor! We’re getting right into the swing of things today with a look at the biggest pre-market stock movers for Thursday!

top stocks: skyscraper buildings viewed from the ground with Wall Street street sign in the foreground representing Pre-Market Stock Movers.

Source: Shutterstock

News moving shares this morning include an acquisition, clinical trial data, several earnings reports, and more.

Let’s dive into those pre-market stock movers below!

Pre-Market Stock Movers: 10 Top Gainers

  • TriState Capital Holdings (NASDAQ:TSC) stock is soaring more than 25% on news that Raymond James Financial (NYSE:RJF) is acquiring the company.
  • NextPlay Technologies (NASDAQ:NXTP) shares are rising over 22% with the release of its fiscal Q2 2022 earnings report.
  • Fangdd Network Group (NASDAQ:DUO) stock is surging nearly 21% despite a lack of news this morning.
  • InnSuites Hospitality (NYSEAMERICAN:IHT) shares are climbing more than 19% thanks to its fiscal second quarter of 2022 earnings report.
  • Digital World Acquisition (NASDAQ:DWAC) stock is jumping almost 17% on news that former President Donald Trump use the SPAC to take a social media company public.
  • Roivant Sciences (NASDAQ:ROIV) shares are increasing over 15% amid social media chatter.
  • Sio Gene Therapies (NASDAQ:SIOX) stock is gaining 13% after announcing positive data from a Phase1/2 clinical trial.
  • Sesen Bio (NASDAQ:SESN) shares are getting a more than 12% boost as it continues positive movement from FDA news yesterday.
  • Euro Tech (NASDAQ:CLWT) stock is up over 12% with the release of the company’s most recent earnings report.
  • Dunxin Financial (NYSEAMERICAN:DXF) shares are sitting more than 8% higher on no apparent news today.
  • 10 Top Losers

  • RiverNorth Opportunities Fund, Inc. Rights (NASDAQ:RIVR) are diving over 35% this morning.
  • Vicinity Motor (NASDAQ:VEV) stock is taking a more than 9% beating as it continues a recent downward trend.
  • Puhui Wealth Investment (NASDAQ:PHCF) shares are dropping over 8% after gaining on Wednesday.
  • ADMA Biologics (NASDAQ:ADMA) stock is slipping more than 7% after announcing a proposed public stock offering.
  • CooTek (NYSE:CTK) shares are falling over 6% following a rally yesterday.
  • TechnipFMC (NYSE:FTI) stock is dipping roughly 6% after releasing its earnings report for the third quarter of 2021.
  • Camber Energy (NYSEAMERICAN:CEI) shares are decreasing more than 5% after the meme stock rallied on Wednesday.
  • ABB (NYSE:ABB) stock is declining over 5% following the release of its Q3 2021 earnings report.
  • Direxion Daily MSCI Brazil Bull 2X Shares (NYSEARCA:BRZU) are losing more than 5% of their value this morning.
  • HighPeak Energy (NASDAQ:HPK) stock closes out our pre-market stock movers down almost 5% after announcing a public stock offering.
  • On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

    Article printed from InvestorPlace Media, https://investorplace.com/2021/10/todays-biggest-pre-market-stock-movers-10-top-gainers-and-losers-on-thursday-oct-21/.

    ©2021 InvestorPlace Media, LLC

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    top stocks: skyscraper buildings viewed from the ground with Wall Street street sign in the foreground representing Pre-Market Stock Movers.

    Source: https://investorplace.com/2021/10/todays-biggest-pre-market-stock-movers-10-top-gainers-and-losers-on-thursday-oct-21/