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In the world of mankind, there will not be a statement without any position, nor a remark without any purpose.
Inflation, exchange rates, and the economy shape the policy decisions of central banks; the attitudes and words of central bank officials also influence the actions of market traders.
Money makes the world go round and currency is a permanent commodity. The forex market is full of surprises and expectations.
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The latest breaking news and the global financial events.
I have 5 years of experience in financial analysis, especially in aspects of macro developments and medium and long-term trend judgment. My focus is maily on the developments of the Middle East, emerging markets, coal, wheat and other agricultural products.
BeingTrader chief Trading Coach & Speaker, 8+ years of experience in the forex market trading mainly XAUUSD, EUR/USD, GBP/USD, USD/JPY, and Crude Oil. A confident trader and analyst who aims to explore various opportunities and guide investors in the market. As an analyst I am looking to enhance the trader’s experience by supporting them with sufficient data and signals.
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The most oversold stocks in the consumer staples sector presents an opportunity to buy into undervalued companies. `
The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30, according to Benzinga Pro.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
African Agriculture Holdings Inc
Read Next:
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
** Shares of U.S. luxury companies fall in afternoon trading after British luxury group Burberry BRBY.Lexpects to post operating loss for 1H24
** BRBY also to miss annual profit forecasts prompting it to suspend dividend payments
** Company sacks its CEO and names former Coach boss Joshua Schulman to replace him
** Shares of luxury apparel brand Ralph Lauren RL.N down ~4%, Tapestry TPR.N falls 2.6% and PVH Corp PVH.N slips ~2%
** Shares of luxury beauty brands such as Estee Lauder EL.N and Ulta Beauty ULTA.O were down ~2%
** CoverGirl parent Coty's COTY.N shares down about 1%
(Reporting by Anuja Bharat Mistry in Bengaluru)
Shares of SolarEdge Technologies, Inc. fell sharply during Monday's session after the company announced a workforce reduction.
SolarEdge disclosed a decision to lay off 400 employees. The company stated that 200 of these job cuts are in Israel. The action involves reducing headcount and discretionary spending across all departments.
SolarEdge Technologies shares dipped 12.2% to $27.77 on Monday.
Here are some other stocks moving in today’s mid-day session.
Gainers
Losers
Now Read This:
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
SolarEdge layoffs are a hot topic on Monday as the solar energy company announces plans to cut 400 jobs.
SolarEdge notes that 200 of these layoffs will take place in Israel. The company also mentions that these job cuts affect all departments. It also notes that it will reduce discretionary spending.
SolarEdge says that the reason for the job cuts is reduced demand for its solar power products. The company points out that demand in Europe is slowing consideringly and is a major factor behind the headcount reductions.
SolarEdge CEO Zivi Lando said the following about the layoffs.
“The downturn of the market at the end of 2023 and beginning of 2024 had led to an accumulation of excess inventory in our distribution channels. We know that as inventory channels clear, our sales volumes are lower than the rate of installations and that this clearing process will take time.”
SolarEdge Layoffs Come After Weak Earnings
The last time SolarEdge reported earnings it included a net loss of $157 million. That’s worth noting as it was its third quarterly net loss in a row.
Investors will also remember that the company revealed plans to cut roughly 16% of its workforce back in January. Its end-of-2023 filing showed a total employee headcount of 5,633.
SEDG stock is down 13.4% as of Monday morning with more than 2.5 million shares traded. That’s closing in on its daily average trading volume of about 3.7 million shares.
Investors will want to stick around for more of the most recent stock market stories!
We have all of the hottest stock market news traders need to know about on Monday! Among that is what has shares of Apple , Broadcom and Moolec Science stock on the move today. All of this news is ready to go at the links below!
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.
More from InvestorPlace
Moolec Science stock is falling on Monday even as the molecular farming ingredient company announced an offtake agreement with a global consumer packaged goods company.
According to a press release from Moolec Science, this covers the use of its GLA Safflower Oil (GLASO) product. The agreement covers three years and the delivery of GLASO to the U.S.
Moolec Science notes that its GLASO product will be used in dietary supplements, functional foods, cosmetics, and pet foods. The company expects to ship 50 tons of the product in 2025.
Martín Salinas, cofounder and Chief Technology Officer of Moolec Science, said the following about the deal.
“We are thrilled to announce this significant supply agreement for our GLASO™ nutritional oil product. This milestone, coupled with our new partnership for industrial toll processing, marks a pivotal step in our mission to deliver high-quality, innovative health solutions to our customers worldwide.”
MLEC Stock Movement on Monday
Despite news of this deal, shares of MLEC stock aren’t seeing the kind of movement traders might be hoping for. Only about 1 million shares have traded as of this writing. That’s still below its daily average trading volume of about 1.6 million shares.
MLEC stock is down 17.5% as of Monday morning. The stock closed out Friday down 57.9% year-to-date.
Investors seeking out more of the most recent stock market stories will want to keep reading!
We have all of the hottest stock market news that traders need to know about on Monday! That includes what’s going on with shares of Qualigen Therapeutics stock, Trump Media & Technology stock and DatChat stock today. All of that info is ready at the links below!
More Stock Market News for Monday
On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
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.
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