THE TIPSTER
AFTER a dramatic fall, the silver price has been recovering. The price held up at $32.30 per ounce and moved back upward. However, we now seem to be stuck in a range between the 50 and 100-day moving averages. Economic fears will continue to see precious metals in focus. Alpari UK is currently quoting silver at $36.80-$36.83.
Sterling has taken a bashing against the euro in the last week – mostly down to euro strength – but it seems to have found support just above €1.1200. The Bank of England announces its rate decision on Thursday and, with no rate hike expected for a while, the support area might be tested. Capital CFDs quotes €1.1230-€1.1233 for sterling-euro.
News that the advertising firm Aegis is set to sell its research arm has seen significant buying of the company’s stock, but the prospect of other bidders emerging has the potential to give the rally some meaningful legs. Current IG Markets price on Aegis is 151.2p-151.4p.
Synergy Health reports full-year results today. Profits should be in the region of £38m, but traders will look for news on contract wins and the possible effects of NHS cuts. Technically, the price looks attractive, as it closed above the 875p resistance and is pulling clear of the 100-day moving average. Good news could see it on its way back over 900p before long. Spread Co offers a spread on Synergy Health of 877.3p-880.6p.
Pall Corp, a global leader in water purification, reports its third quarter earnings tomorrow. After topping out just under $60, Pall has been grinding lower to close the gap to $50 from 28 January. With the 200-day moving average also at $50 and positive results expected, a dip towards $50 should be used to buy. Spread Co offers a spread on Pall Corp of $53.19-$53.30.