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Investment Recommendations May 5th

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DAX: Short-Term Sell

 

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DAX, 4-Hour Chart Analysis

The DAX new all-time highs today, following our short-term buy recommendation two weeks ago. The German index kept on pushing higher this week in the face of the overbought conditions and it’s now above the dominant long-term trend line, suggesting a correction in the coming days. Those traders who are still holding on to a part of their longs should consider exiting their positions at these levels.

The second round of the French election might provide a sell-the-news event, as the favorable first round results already caused a surge in European assets. The continued weakness of the broad US indices also warns of a possible correction, with the 12,400 support giving traders a good initial target.

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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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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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Cryptocurrencies

Trade Recommendation: Zcash

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The market is in the uptrend and we have to search for buy opportunities. MACD and DMI support upward movement and we can trade based on a breakout signal above 300.00 resistance level. If the price can break this resistance, we’ll get an additional signal confirming the upward movement. Entry level is 302.00 with stop orders at 283.80 level. Profit targets are 320.00 and 350.00 levels. This is a short term trade, but the part of trade volume can be left for long run. If you don’t use leverage, trading volume for this trade is up to 10% from your deposit.

Market: ZECUSD
Buy: 302.00
Stop: 283.80
Profit Targets: 320.00 and 350.00

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The trading signal is based on the Poloniex chart.

Disclaimer: The analyst is invested in Zcash.

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