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Investment Recommendations April 21st

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DAX: Short-Term Buy

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DAX, 4-Hour Chart Analysis

The German index has held up above the 12,000 level despite the selling pressure this week, although it slid out of the rising long-term trend channel. The bullish cross on the MACD indicator suggests a reversal, and a positive outcome on the French election could propel the benchmark back in the channel.

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The outperformance of the NASDAQ (see daily analysis) suggests a test of the prior highs, while the recent lows provide an optimal stop-loss level in the case of another leg lower. Further support levels for longer-term positions are found near 11,920 and 11,850.

Bitcoin: Long-Term Buy (update)

 

Bitcoin, 4-Hour Chart Analysis

Bitcoin rallied past the resistance level that kept a lid on the currency for almost two weeks, and it’s now only a few percent off the prior highs near $1295. The move could justify a new stop-loss level for long-term traders. The cryptocurrency is also on a short-term buy signal after the break-out above $1215.

A weaker resistance level is ahead at $1260, while the $1295-$1300 zone might be the next significant hurdle for BTC.  The $1200-$1215 zone should now act as strong support, with last week’s lows just below $1170 offer an optimal level for placing stop-loss orders.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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Cryptocurrencies

Trade Recommendation: Siacoin

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The trading idea is based on a breakout above the downtrend line and the previous swing high. If the market moves about it, we will get a signal confirming further upward movement. Also MACD lines and DMI give bullish signals. It’s a new trading opportunity. Pending orders for buy should be placed at 0.00000062 level with stop orders at 0.00000048 level. Profit targets are 0.00000075 and 0.00000100 resistance levels. If you don’t use leverage, trading volume for this trade is up to 10% from your deposit.

Market: SCBTC
Buy: 0.00000062
Stop: 0.00000048
Profit Targets: 0.00000075 and 0.00000100

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The trading signal is based on Poloniex chart.
Disclaimer: The analyst does not have investments in Siacoin.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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Trade Recommendation: GBPJPY

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The market moves between 150.00 and 148.00 levels. DMI confirms range market conditions. Now the price bounces from 148.00 support level and RSI confirms price reversal in the oversold zone. MACD histogram supports upward movement. It gives us a new trading opportunity. Pending orders for buy can be placed at 148.28 level with stop orders at 147.90 level. Profit targets are 148.80 and 149.30 levels. Don’t risk more than 3% from your deposit in this trade.

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Market: GBPJPY
Buy: 148.28
Stop: 147.90
Profit Targets: 148.80 and 149.30

Disclaimer: The analyst does not have investments in GBPJPY.

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Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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Altcoins

Trade Recommendation: Enjin (ENJ)

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Enjin Coin has recently finished its ICO and is currently available on a few exchanges. The primary metric to look at is the market cap of a company, especially after the initial exchange selloff. Most ICO investors are looking for a coin with a small market cap so that they can get 2x – 5x return. Enjin Coin has a very low market cap at the moment in relation to the maturity of the company. This will be a great candidate to swing trade. There are four reasons this coin is a swing trade candidate besides the fact that it has dipped to previous lows and is a great buy at the moment.

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1. Enjin currently has a contest running on Binance.com that will pay large amounts of ENJ tokens  to the top holders during the competition. This ends on November 25th. Basically, you just have to buy ENJ on Binance and hold it until the end of the contest. The top holders will be rewarded. Here is the contest info: Enjin Binance Contest

2. Enjin is releasing its Mobile Smart Wallet as well as the Minecraft plugin soon. This will allow game developers to use ENJ in the gaming community.

3. The chart shows the MACD crossing upward over the EMA 9-day signal indicating another bullish run.

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4. Enjin could be compared to GameCredits, which is currently trading on Bittrex. GameCredits has a market cap of $123,000,000; DigiByte has a market cap of $85,000,000. If Enjin only reached the market cap of DigiByte that would be a 5x ROI and if it reaches GameCredits’ market cap then investors would see an ROI of 8x. For the short term, the entry point is 0.00000265 BTC with a stop loss order placed at 0.00000242 with a profit target at 0.00000318 BTC.

Market: ENJ/BTC
Buy: 0.00000270 BTC
Stop: 
0.00000248 BTC
Profit Targets: 
0.00000324 BTC – 0.00000328 BTC

If your profit target hits 0.00000324 BTC, you will have made 20% return.

Disclaimer: The analysis is invested in ENJ.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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