🚀 Today's Big Ideas: Bitcoin (+14.2%), Nikkei (+10.2%), EBAY (+6.0%)
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TODAY’s Big Ideas:
Bitcoin poised to seasonally rally by +14.2% during the next 90 days.
Nikkei (Japan) poised to seasonally rally by +10.2% during the next 90 days.
EBAY sets up for +6% rally in 1 month
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(1) Score 7.6 (out of 10): Bitcoin poised to seasonally rally by +14.2% during the next 90 days.
What’s Going On Here?
The world’s largest bitcoin ATM firm Bitcoin Depot is to go public on the NASDAQ. The firm is set to list on the Nasdaq under ticker symbol ‘BTM’ by Q1 2023 through an $855 million SPAC deal.
Why Now?
Bitcoin indicates an interesting 90 days seasonal set up. During similar occasions, Bitcoin token had a median return of +14.2% – based on 6 historical occasions with 4 of those showing positive returns (67%). This buy signal for Bitcoin received a high score of 7.6 (out of 10). This insight was generated with last price of 21544.
What’s This Token About?
Bitcoin is in the Top coin (Mkt cap) sector. Bitcoin (BTC) is a digital or virtual currency created in 2009 that uses peer-to-peer technology to facilitate instant payments. Based on the last 2 years’ risk/return profile, this asset is seen as Very Risky. Ticker symbol: BTC.
What’s My Risk / Reward and Time Horizon?
We found 90 days to be the optimal trade horizon, after testing a number of possible alternatives (accuracy of previous returns). Otherwise consider closing out this trade once the target level of 24596.03 (+14.2%) has been reached. Based on Bitcoin’s recent up and down swings, LongShortCrypto suggests considering to set a stop loss level for this insight at 20479 (last price at 21544), which is equivalent to a -4.94% decline.
Returns during similar periods:
You might also like: Score 9 (out of 10): MICROSOFT poised to seasonally rally by +6.9% during the next 90 days
(2) Score 9.1 (out of 10): Nikkei (Japan) poised to seasonally rally by +10.2% during the next 90 days.
What’s Going On Here?
The Nikkei 225 index has bounced back as sentiment among investors buy the dip in global stocks. It also happened as the Japanese yen resumed its strong sell-off. The USD/JPY price has risen by more than 3% from its lowest level this year. A weaker yen is usually positive for most companies in the Nikkei index because it makes their goods more affordable.
Why Now?
Nikkei (Japan) indicates an interesting 90 days seasonal set up. During similar occasions, Nikkei (Japan) shares had a median return of +10.2% – based on 9 historical occasions with 8 of those showing positive returns (89%). This buy signal for Nikkei (Japan) received a high score of 9.1 (out of 10). This insight was generated with last price of 28313.47.
What’s This Index About?
Nikkei (Japan) is in the Equity market index business. Based on the last 2 years’ risk/return profile, this asset is seen as Very Risky. Ticker symbol: ^N225..
What’s My Risk / Reward and Time Horizon?
We found 90 days to be the optimal trade horizon, after testing a number of possible alternatives (accuracy of previous returns). Otherwise consider closing out this trade once the target level of 31201.16 (+10.2%) has been reached. Based on Nikkei (Japan)’s recent up and down swings, LongShortBets suggests considering to set a stop loss level for this insight at 27801.37 (last price at 28313.47), which is equivalent to a -1.8% decline.
Returns during similar periods:
You might also like: Score 7.3 (out of 10): APPLE sets up for +6% rally in 1 month
(3) Score 7.5 (out of 10): EBAY sets up for +6% rally in 1 month
What’s Going On Here?
eBay is acquiring trading card marketplace TCGplayer for up to $295M, citing that trading cards are currently showing “substantial growth”. The deal is expected to close in the first quarter of 2023.
Why Now?
EBAY INC has triggered a new price range signal. During similar occasions, EBAY INC shares had a median return of +6%, over the following 1 month – based on 10 historical occasions with 8 of those showing positive returns (80%). This buy signal for EBAY INC received a high score of 7.5 (out of 10). This insight was generated on 2022-August-22 with last price of 45.39.
What’s This Company About?
EBAY INC is in the E-Commerce/Products business. Based on the last 2 years’ risk/return profile, this asset is seen as Very Risky. Ticker symbol: EBAY US.
What’s My Risk / Reward and Time Horizon?
We found 1 month to be the optimal trade horizon, after testing a number of possible alternatives (accuracy of previous returns). Otherwise consider closing out this trade once the target level of 48.11 (+6%) has been reached. Based on EBAY INC’s recent up and down swings, LongShortBets suggests considering to set a stop loss level for this insight at 43.29 (last price at 45.39), which is equivalent to a -4.6% decline.
Returns during similar periods:
For more investment insights, please visit us at www.LongShortBets.com