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October 29, 2024

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A year after Shanghai’s boisterous Halloween celebrations made global headlines, revelers dressed as Republican presidential nominee Donald Trump and comic book superheroes were escorted away by police as authorities appeared to crack down on the festivities.

Videos on social media showed a heavy police presence in three busy Shanghai bar and restaurant areas, where partygoers typically celebrate the annual tradition more closely associated with the United States, raising concerns about further narrowing of personal freedoms in China.

Crowd control fences had been erected to restrict pedestrian traffic in some streets, according to images on social media, and a park near another popular nightlife area where costumed partygoers had congregated on Saturday was also shuttered the next day.

The tight controls in China’s most cosmopolitan city follow last year’s at times raucous celebrations, when young people came out in force to celebrate the first Halloween since the lifting of China’s stringent Covid-19 restrictions. Many donned costumes offering social critique – a rare phenomenon in a country where dissent is not tolerated in any form.

It was not clear whether they were detained or merely escorted from the immediate area. The circumstances leading up to these interactions with law enforcement were also not clear. As of Tuesday, some videos were still circulating China’s heavily censored internet, while others seemed to have been taken down.

While some officially sanctioned Halloween celebrations, such as those at Shanghai Disney Resort and the Happy Valley amusement park, went ahead as scheduled, the apparent tamp-down on some public Halloween gatherings this year caught the attention of Chinese social media users, with one user on Weibo, China’s equivalent of X, noting that her social media feed felt particularly empty.

Backlash against Western influence

Like other places in Asia, such as Japan and South Korea, many young people in China treat Halloween as an occasion to dress up and meet their friends in venues that put on themed events.

But Chinese state media have warned in recent years against citizens being “overly passionate” about Western festivals – part of a broader, nationalistic backlash against perceived foreign influence.

Last weekend’s celebrations appeared to end early for one young man who donned a blond wig and a bandage on his right ear to imitate former US President Donald Trump, a now-deleted post on Chinese social media platform Douyin showed. Trump wore the bandage after a bullet skimmed his ear during an assassination attempt in July.

Superheroes Spiderman and Batman, as well as a man who donned a yellow robe with a beaded necklace in the image of the Buddha, were all escorted away by police, according to online videos.

In China, crowd control measures are not unusual in public, especially during holidays, but some online users openly wondered what it would mean for future Halloweens.

“(I guess) there will never be any Halloween celebration in Shanghai as innovative as the one in 2023. It will slowly lose its edginess and become harmonized,” a user wrote.

Party like it’s 2023?

Celebrations last year in Shanghai were marked by huge crowds and revelers using the holiday to take tongue-in-cheek swipes at China’s strict Covid lockdowns and lackluster economy.

Some dressed as university graduates who had failed to land a job, a reference to China’s sluggish economy and high youth unemployment rates. Others rocked up in hazmat suits in a sarcastic swipe at China’s stringent Covid control measures, which saw Shanghai locked down for roughly two months and sparked rare protests.

That rare public critique in a country of heavy censorship both in online debate, media and entertainment was largely unimpeded by police last year, who practiced crowd control but did not appear to be proactively stopping people in costumes, based on media reports.

The Shanghai municipal government even praised last year’s Halloween celebration as “a sign of cultural tolerance.”

“The recent Halloween celebration in Shanghai, with its unique blend of western traditions and Chinese creativity, offered a glimpse into the evolving cultural landscape of a vibrant city,” it said in a statement last year.

Alfred Wu, an associate professor at the Lee Kuan Yew School of Public Policy at the National University of Singapore, said last year’s celebration happened during “a vacuum” when the Shanghai authorities were working to return to normal less than a year after the lifting of Covid lockdowns.

“This year authorities are much more prepared, and they do not agree with these kinds of activities,” he said.

This post appeared first on cnn.com

North Korean soldiers may be being readied for a move to the front lines of Russia’s war against Ukraine after being taught basic Russian commands, South Korean lawmakers told news agency Yonhap on Tuesday, citing the country’s intelligence officials.

About 10,000 North Korean soldiers are receiving military training in eastern Russia, the Pentagon estimated on Monday – up from a previous estimate of 3,000 by the White House.

South Korea’s National Intelligence Service (NIS) is now watching for the possibility of “some North Korean personnel, including high-ranking military officials, moving to the front lines,” said lawmakers Lee Seong-kweun and Park Sun-won, who were briefed by the NIS during a closed-door meeting of a parliamentary intelligence committee.

Russia is teaching North Korean soldiers about 100 basic military words like “fire” and “in position,” the lawmakers told Yonhap.

However, they added, it’s clear that North Korean soldiers are struggling to communicate – and it’s not clear whether they’ll be able to bridge the language gap.

North Korea has also stepped up its security measures – both to protect its dictator Kim Jong Un and to prevent news of the North Korean deployments to Russia from spreading within the highly isolated, impoverished country.

To this end, North Korean officers involved in the Russian effort are banned from using phones, while families of soldiers are told that their loved ones are simply participating in a “military exercise,” the lawmakers told Yonhap.

Despite these measures, word has spread within North Korea of deployments to Russia – sparking “unrest” in some parts of the country, the lawmakers said, according to Yonhap.

Some residents and soldiers have voiced fears of possibly being sent to Russia themselves, while others have questioned why they are being sacrificed for a different country, Yonhap reported.

Last week, Ukraine intercepted Russian transmission channels and released audio, with Russian soldiers heard talking disdainfully about the incoming North Korean soldiers, calling them the “K Battalion” and referring to them as “the f**king Chinese.”

The intercepts also reveal plans to have one interpreter and three senior officers for every 30 North Korean men, which the Russian soldiers are heard in the audio condemning.

“The only thing I don’t understand is that there [should be] three senior officers for 30 people. Where do we get them? We’ll have to pull them out,” one Russian serviceman says.

This could mark the first time North Korea makes a significant intervention in an international conflict. North Korea has one of the world’s largest militaries with 1.2 million soldiers, but most of its troops lack combat experience.

The Kremlin had initially dismissed allegations of North Korean troop deployments, but at the BRICS summit in Russia last week, President Vladimir Putin did not deny that Pyongyang had sent soldiers to the country.

North Korea said on Friday that any troop deployment to Russia to aid the war in Ukraine would conform with international law, state media reported, without explicitly confirming such presence. North Korea had previously dismissed such reports.

North Korean Foreign Minister Choe Son Hui is now in Russia for her second trip there in six weeks, having departed Pyongyang on Monday. She likely traveled to discuss potentially dispatching more North Korean troops – and what Pyongyang would receive in return, the lawmakers told Yonhap.

The news also comes as South Korea’s foreign and defense ministers head to Washington to speak with their counterparts, Secretary of State Antony Blinken and Defense Secretary Lloyd Austin, for an annual ministerial meeting.

This post appeared first on cnn.com

Top Gainers

Symbol Company Name Price Change Change %
IBRX ImmunityBio, Inc.  5.32 +1.11 +26.37%
Zk ZEEKR Intelligent Technology Holding Limited 28.85 +5.74 +24.84%
NWL Newell Brands Inc. 8.73 +1.55 +21.59%
TPR Tapestry, Inc.  50.49 +6.02 +13.54%
DJT Trump Media & Technology Group Corp. 38.95 +4 +11.44%

Top Losers

Symbol Company Name Price Change Change %
CPRI Capri Holdings Limited  21.26 -20.34 -48.89%
JOBY Joby Aviation, Inc.  5.16 -0.88 -14.57%
TBBK The Bancorp, Inc.  47.01 -7.95 -14.47%
MHK Mohawk Industries, Inc.  130.88 -20.99 -13.82
CRI Carter’s Inc. 56.95 -8.74 -13.30%

 

After a sideways opening market tried holding on to higher levels, but as of the last few trading sessions, selling continued in the market after an hour or two.  

  • NYSE Composite: -104.4 (-0.53%)
  • Dow Jones: -259.96 (-0.61%)
  • S&P 500: -1.76 (+0.03%)

#1 Gainer: IBRX Stock

ImmunityBio Inc. (NASDAQ: IBRX) stock turned out to be the top gainer after delivering nearly +77% returns in a single day and, by the end of the day, closing at +26.37%. 

ImmunityBio Inc. rallied for two consecutive days as the company announced the initiation of doses in phase 1 for CD19 t-haNK cell therapy. The trial has been named QUILT 106. This testing will be done on 100 patients looking for a cure in natural killer cell-based cellular therapy like non-Hodgkin lymphoma, a cancer of the lymphatic system. This trial is being conducted in Johannesburg, Pretoria and Bloemfontein. 

The investors are keeping high hopes with the upcoming results of the trial, as this can be a game changer for both company and market movers. 

IBRX Stock 15-Minute Chart

The stock broke all the above resistance after delivering staggering returns of +26.37 in a single day. Making an entry due to FOMO can result in risking huge amounts of money. Looking into the technicals on the 1-day time frame. We can clearly see the stock was selling for a long time.

Before giving a breakout, the price was in the channel, as marked in the image. Buyers were taking a position in the sock. Looking at the current situation, the market made an inverted pin bar like a candle which indicates heavy selling from higher levels. 

You can enter if the price retests the $3.95 level. Place your stop loss at $2.90 and set targets at $6.77 and $7.63.

#1 Loser: CPRI Stock

Capri Holdings Limited (NASDAQ: CPRI) stock faced a -48.89% decline in just one single day, wiping out $2.2 billion from the market cap. 

The stock tumbled after a judge blocked the $8.5 billion tapestry deal, making it difficult for the company to sustain in luxury brand competition. This deal was proposed last year to compete with European giants by bringing major brands under one roof. 

Due to inflation and current market conditions, luxury brands face challenges due to customers focusing on essential buying. This makes it hard for the company to sustain itself. 

Capri could plan to seek another suitor, said Dana Telsey of Telsey Advisory Group, but with the delay in the deal and weak results, investors are looking for their trust in the stock. 

CPRI/USD 15-Minute Chart

After facing a huge selling of -48.89%, the market is in a selling trend on a weekly time frame. RSI is near 30 levels, indicating selling pressure is still ongoing. 

The selling position could trigger if the price breaks the previous day’s low ($20.99) with a target of $8.38 and a stop-loss of $31.69. 

The post Top Stock Gainers And Losers: IBRX +26.37%, CPRI -48.89% appeared first on FinanceBrokerage.

Tesla stock crashed upwards last week on the back of a better-than-expected third-quarter earnings report and Hallucinogen from CEO Elon Musk. The opening was praised on Wall Street, with some analysts keeping or upgrading their buy ratings, but the competitive price was seen as a shortcoming of others.

Bank of America has repeated its buy status after increasing the valuation of Tesla from 255 dollars to 265 dollars. Be that as it may, Tesla shares broke through this level in no time, buoying by 269.19 dollars at the end of the day on Friday, which means the company gained by 3.3% during the day and by 22% in the whole week. Furthermore, the high performance of the company’s earnings has compelled BofA to revise its 2024-2026 profit forecasts upwards.

Tesla Stock Soars 22% on Q3 Earnings

It was a positive driven by Musk’s view of Tesla’s natural growth, which will lead to expected production increases in the range of 20%-30% by 2024 and the possibility of adding a new electric vehicle model. Those parts not listed are items from the earnings call that marked advancements in Tesla’s Full Self-Driving (FSD) software, the renewed costs for the 4680 battery, and the accumulated revenue from regulatory credits. Musk additionally mentioned the launch of an autonomous “Cybercab“, which fired as well investor confidence.

On the contrary, some analysts are unsure of the claim. JPMorgan has reissued an underweight rating on Tesla, with a price target of $135, which means that the share is probably going to go down by almost 50%. This difference in opinion mirrors the continuous discussions on Tesla’s valuation, where several hold that the share is overpriced in the market in spite of its sustained growth prospects.

Tesla’s share price has yet to be a matter of consensus among investors; those who consider it a risky investment see the potential for high gains but also the probability of significant losses depending on the company’s performance. The market conditions could also change drastically.

Tesla Stock Chart Analysis

TSLA/USD 15-Minute Chart

During the past week, Tesla’s stock price kept on gaining steam and had one of the most significant rallies. After reaching its trough of $212.11 on October 23, the stock shot up, marking the highest of the week when it was at $269.19 on October 27. This rapid march upward is no other than the market’s encouragement of Tesla’s brilliant Q3 outcome and the optimistic forecasts of the CEO.

After the earnings report came the sudden burst of major momentum on October 25, when Tesla shares kind of exploded from about $220 to beyond $260 in a day. This rally did not even notice several resistance levels, demonstrating the firm mode and high buying interest and notwithstanding the stock a new target recent price of $265 by Bank of America. The subsequent upward approach almost touched the 269.49 level of the share, which showed the market’s approval of such a movement.

Tesla’s Future Outlook: Growth Potential Meets Market Skepticism

In the near future, the possible outcome may be the case that Tesla beats their goals and gains even more. Musk’s presentation for the anticipated 20-30% growth of the production in 2024, as well as boosting from the progress of full self-driving (FSD) and the cost reduction of the 4680 battery, renders the commencement of the production more secure. Moreover, Tesla’s turnover from the regulatory credits is a backup which proves the steady and strong performance of the company.

While there are optimistic people who are confident in the rise of Tesla, this is not a reality for all, and the correction may happen this year. JPMorgan has recently re-trained its position with the target down from $135, stating the high valuation of Tesla as the cause of their anxiety. This case seems to be worsening in the foreseeable future. We will closely monitor whether Tesla can keep the current rally and see through the $270 resistance. Thrust of the market by watching Tesla and joining the carnival.

The post Tesla Stock Jumps 22% After Q3 Earnings appeared first on FinanceBrokerage.

Top Gainers

Symbol Company Name Price Change %
TROY Tory $0.002758 +78.02%
AST AirSwap coin $0.0945 +29.97%
API3 Api3 $1.66 +15.80%
ZEC Zcash $0.1107 +13.81%
OAX OpenANX $0.1479 +11.46%

Top Losers

Symbol Company Name Price Change %
KP3R Keep3rV1 Token $25.81 -10.44%
TNSR Tensor $0.4289 -9.91%
ERN Ethernity Chain $2.19 -7.74%
SUPER SuperVerse $1.20 -7.00%
LUMIA Lumia $1.08 -6.82%

 

On Sunday’s trading session, major crypto movers, Bitcoin and Ethereum kept on showing sideways momentum. Here bitcoin seems to show better positive results in coming trading sessions where Ethereum still has a long way to go. 

Bitcoin/USD

Ethereum/USD

#1 Gainer: TROY Token

TROY Token (TROY) saw a 241.81% increase in trading volume within 24 hours, while its market capitalisation rose by 83.9% to reach $24.13 million, making it one of the top gainers as of October 28, 2024. The token is associated with Tory Protocol, a global prime broker providing crypto trading and asset management services. The platform is known to provide users with access to aggregated liquidity from multiple crypto exchanges. 

The platform provides various services like Margin trading and Over-The-Counter (OTC) services, enhancing client trading features. They also provide real-time fund transfers and settlements hence creating easy liquidity on investment.  

TROY/USDT 15-Minute Chart

Fundamentally, the crypto is stable and has enough area for growth. Talking technically, the coin is currently trading at $0.002873, an area of rejection. The crypto has delivered nearly 80% returns in 24 hrs, and on a daily time frame it has been consistently in buying since the last 3 days. 

Entry will trigger if the price closes above the resistance level of 0.002762 and comes to retest the level by creating a buying candle. Entry will be made with the target of 0.003768 and stop-loss of 0.001900

#1 Loser: KP3R Token

The KP3R token (KP3R) has plunged by nearly 50% in the last 6 trading sessions. Following a recent review by Binance, the cryptocurrency exchange announced its decision to delist four tokens from its platform, with KP3R being one of them, resulting in sharp selling pressure. The delisting is scheduled to take place on November 6th, 2024.

Binance reviews tokens based on multiple criteria, including project development activity, network stability, and regulatory requirements, before deciding to delist them.

Users who are holding the tokes are notified to take action as soon as possible. Margin has been suspended from 25th Oct, and all positions will be closed by 31st Oct. 

KP3R/USDT 15-Minute Chart

Looking at the crypto daily, we can observe that the price was moving in a channel, and all the EMA’s (9, 20, 50 and 100) were sideways. 

The price fell nearly 50% in the last 6 trading sessions and hit an all-time low today. Considering the channel breakout and all EMA’s crossover we can analyse that KP3R is in sharp selling. 

Sellers should wait for a swing formation in the chart before entering. When the EMA rejects the price, sellers can plan their entry-targeting round levels at $20, $15, and $10.

Risky traders can enter into the selling zone as the crypto is in the news; trailing stop loss can help achieve better returns. 

The post Top Crypto Gainers And Losers: TROY Token +78%, KP3R -10% appeared first on FinanceBrokerage.

If you aim to trade in the Forex market, knowing how to calculate the right trade size is crucial for managing substantial risk of loss and maximising potential profits. A Forex position size calculator helps you determine the exact number of currency units, or units of the base, to trade based on your risk tolerance, stop loss levels, and the exchange rate

By using this tool, you can make better-informed trade decisions and tailor your trading strategy to suit your account size and how much you can afford to lose. Whether you’re trading mini, micro, or nano lots, understanding position size in Forex is critical to becoming a successful trader. 

Let’s see how to use this calculator on your trading platform for smarter, more calculated trades.

What Is Position Size In Trading?

Position sizing in trading is the number of units (shares, contracts, lots) that you buy or sell during a trade. It’s essential to consider it before trading, be it stocks, currencies, commodities, or indices. For instance, A US30 lot size calculator is a tool used by traders to determine the appropriate position size when trading the US30 index.

To calculate your position size, you must take into account several factors:

  • The total amount of your trading capital
  • The percentage of your capital that you are willing to risk per trade
  • The entry price and stop loss level of your trade

Lot In Forex Trading – Calculating Lot Sizing In Forex

Forex trading calculator is a handy tool on all online trading platforms. However, knowing how the calculation works can also benefit any trader.

In Forex, you can open a trading position in specific volumes of trading units called lots. Before you enter the market, risk management occurs when you ask yourself: How many lots will I buy or sell?

  • A trader cannot buy, for example, exactly 1,000 euros but can buy 1 lot, 2 lots, or 0.01 lot, etc.
  • The standard lot on Forex is 100,000 units of the base currency.

For example, if the EUR/USD rate is equal to 1.0545, then you can only open the position with a volume of 1 lot for 105,450 units of the base currency.

In other words, this is the amount of US dollars you need to buy 100,000 euros.

How do we calculate a lot in trading for currency pairs that include the US dollar (EUR/USD, USD/CHF, GBP/USD)?

To make this more concrete, let’s take the most popular example of all, the EUR/USD pair:

  • 1 lot = 100,000 units of the account currency

Please note that if your account is in euros, 1 lot is equivalent to €100,000

  • one mini lot, i.e., 0.1 lot = 10,000 units of the account currency
  • 1 micro lot or 0.01 lot = 1,000 items of the account currency
  • 1 nano lot or 0.001 lot = 100 units of the account currency

Depending on the broker, these lots may be expressed differently: number of lots, volume, or number of units.

Do not hesitate to inquire or even contact customer service for a clear answer if in doubt. The value of a point is also determined according to the unit (lot, mini or micro lot).

Forex Position Size Calculator – Position Sizing Formula

Some will say that a stop loss reduces the risk in your trading and that a stop loss calculator is essential for managing risks. It’s partially true.

This is only true if you are trading with such low capital that you must take the minimum position size, a micro lot.

Our trading position size determines the actual risk.

Position size = ((account value x risk per trade) / pips risked)/ pip value per standard lot

 

((10,000 US Dollars X 2%) / 50) / 9.85 = (200 USD / 50 pips) / 9,85 =
4 USD / 9,85 USD = 0.40 standard lots (4 mini lots or 40.000 currency units)

If you plan to open multiple positions, you can use the same equation to manage the overall risk across all trades. The key difference is that you need to set a maximum number of open positions in advance and allocate a portion of the total risk to each one. For example, with a $10,000 account and a 6% overall risk limit, you would assign risk to each trade until the total reaches 6%—after that, no new positions can be opened.

This method of risking a fixed percentage encourages traders to focus on risk management in terms of percentages rather than just pips.

The post How Do You Use A Forex Position Size Calculator? appeared first on FinanceBrokerage.