{"id":207077,"date":"2024-05-23T08:15:01","date_gmt":"2024-05-23T12:15:01","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=207077"},"modified":"2024-05-23T09:35:23","modified_gmt":"2024-05-23T13:35:23","slug":"chart-advisor-bitcoin-surging-toward-record-highs","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-bitcoin-surging-toward-record-highs\/","title":{"rendered":"Chart Advisor: Bitcoin Surging toward Record Highs"},"content":{"rendered":"\n<p>By <a href=\"https:\/\/cmtassociation.org\/presenter\/matthew-caruso\/\" target=\"_blank\" rel=\"noreferrer noopener\">Matthew Caruso, CFA, CMT<\/a><\/p>\n\n\n\n<p><strong>1\/ Deep Value BNTX Sees Momentum Pick Up<\/strong><\/p>\n\n\n\n<p><strong>2\/ Bitcoin Nears New Breakout<\/strong><\/p>\n\n\n\n<p><strong>3\/ Net Highs on the Nasdaq Support Higher Prices<\/strong><\/p>\n\n\n\n<p><strong>4\/ Shark Ninja Reverses after a Powerful Uptrend<\/strong><\/p>\n\n\n\n<p><em><sup>Investopedia is partnering with CMT Association on this newsletter. \u00a0The contents of this newsletter are for informational and educational purposes only, however, and do not constitute investing advice. The guest authors, which may sell research to investors, and may trade or hold positions in securities mentioned herein do not represent the views of CMT Association or Investopedia. Please consult a financial advisor for investment recommendations and services.<\/sup><\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-1-deep-value-bntx-sees-momentum-pick-up\"><strong>1\/ Deep Value BNTX Sees Momentum Pick Up<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1100\" height=\"628\" data-src=\"\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/pic1-3-1100x628.png\" alt=\"\" class=\"wp-image-207078 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/pic1-3-1100x628.png 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/pic1-3-700x400.png 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/pic1-3-300x171.png 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/pic1-3-768x439.png 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/pic1-3-1536x877.png 1536w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/pic1-3.png 1828w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/628;\" \/><\/figure>\n\n\n\n<p>Having benefited massively from the COVID pandemic, BNTX has since fallen out of favor with investors, declining more than 80%. Declines have been so severe that BNTX has become a deep-value play with a market cap of $24 billion while sporting only $2.5 billion in liabilities versus $24 billion in assets, with nearly $20 billion being current assets. Once current assets are discounted, most of the business can be had for very little. Today, the stock saw substantial interest as it surged 11% on the largest volume in over two years. It appears some investors have determined that BNTX is finally attractive again.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-2-bitcoin-nears-new-breakout\">2\/ <strong>Bitcoin Nears New Breakout<\/strong><\/h2>\n\n\n\n<p>Having garnered substantial ETF inflows, Bitcoin has surged near its record highs once more. Initial enthusiasm subsided as the ETF corrected in April and May. However, renewed optimism that a similar Ethereum ETF approval may soon occur has bolstered interest in crypto once more. As a result, IBIT (one of the most successful Bitcoin spot ETFs) is approaching a breakout after forming a double-bottom basing pattern.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" width=\"1100\" height=\"629\" data-src=\"\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/pic2-2-1100x629.png\" alt=\"\" class=\"wp-image-207079 lazyload\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/629;width:840px;height:auto\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/pic2-2-1100x629.png 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/pic2-2-700x400.png 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/pic2-2-300x172.png 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/pic2-2-768x439.png 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/pic2-2-1536x879.png 1536w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/pic2-2.png 1825w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-3-shark-ninja-reverses-after-a-powerful-uptrend\">3\/ Shark Ninja Reverses after a Powerful Uptrend<\/h2>\n\n\n\n<p>Restaurants have been hit with numerous obstacles, including higher food, employee, and real estate costs. These increases need to be passed on to an already overstretched consumer. As a result, eating at home has become more appealing, and Shark Ninja(SN) has ridden the wave of innovative at-home cooking appliances. <\/p>\n\n\n\n<p>The stock has soared since its IPO, but enthusiasm may have become excessive as it formed a major reversal at a well-defined upper channel line. A retracement back to its 50-day moving average is likely and may set up a new opportunity to buy.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1100\" height=\"622\" data-src=\"\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/pic3-3-1100x622.png\" alt=\"\" class=\"wp-image-207080 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/pic3-3-1100x622.png 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/pic3-3-700x396.png 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/pic3-3-300x170.png 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/pic3-3-768x434.png 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/pic3-3-1536x869.png 1536w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/pic3-3.png 1920w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/622;\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-4-azek-building-supplier-preparing-for-much-higher-prices\">4\/ <strong>AZEK Building Supplier Preparing for Much Higher Prices<\/strong><\/h2>\n\n\n\n<p>Investing legend Warren Buffett recently said, &#8220;AI may be better for scammers than society.&#8221; This paints a bleak outlook for AI, but it also highlights a bright future for companies that can help prevent bad actors from exploiting cybersecurity vulnerabilities.<\/p>\n\n\n\n<p>If we can&#8217;t identify whether an image is real or fake, better security will be required to keep cyber infrastructure safe. <\/p>\n\n\n\n<p>CrowdStrike (CRWD) led its peers in 2023 and continues to do so in 2024. It has already notched new all-time highs, far ahead of the IHAK Cyber Security ETF. Anyone seeking an investment in the cyber space should focus on CRWD as it is the clear leader in its field to date.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" width=\"1100\" height=\"629\" data-src=\"\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/pic4-2-1100x629.png\" alt=\"\" class=\"wp-image-207081 lazyload\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/629;width:1429px;height:auto\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/pic4-2-1100x629.png 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/pic4-2-700x400.png 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/pic4-2-300x172.png 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/pic4-2-768x439.png 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/pic4-2-1536x879.png 1536w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/pic4-2.png 1825w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" \/><\/figure>\n\n\n\n<p><strong>About This Week&#8217;s Author<\/strong><\/p>\n\n\n\n<p><strong><a href=\"https:\/\/cmtassociation.org\/presenter\/matthew-caruso\/\" target=\"_blank\" rel=\"noreferrer noopener\">Matthew Caruso, CFA, CMT<\/a><\/strong>\u00a0is a member of the CMT association, having previously served as the president of CMT Canada. As a professional investor and former market-maker, he boasts an impressive track record, including holding the 9-month record in the US Investing Championship. Matthew&#8217;s expertise extends to Caruso Insights, a dedicated service aimed at educating investors on constructing and refining high-growth investment strategies. To explore his insights further, visit <a href=\"https:\/\/www.carusoinsights.com\/?hid=90d17f099329ca22bf4d744949acc3331bd9f9f4&amp;did=13127905-20240523&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=052324\" target=\"_blank\" rel=\"noreferrer noopener\">Carusoinsights.com.<\/a><\/p>\n\n\n\n<p>&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;-<\/p>\n\n\n\n<p>Originally posted on May 23, 2024<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Having benefited massively from the COVID pandemic, BNTX has since fallen out of favor with investors, declining more than 80%. Declines have been so severe that BNTX has become a deep-value play with a market cap of $24 billion while sporting only $2.5 billion in liabilities versus $24 billion in assets, with nearly $20 billion being current assets. Once current assets are discounted, most of the business can be had for very little. Today, the stock saw substantial interest as it surged 11% on the largest volume in over two years. It appears some investors have determined that BNTX is finally attractive again. <\/p>\n","protected":false},"author":186,"featured_media":207078,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[14,18,6,8,9,22,23,26,3],"tags":[7927,1530,17138,17140,17139],"contributors-categories":[13686],"class_list":{"0":"post-207077","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-etfs","8":"category-macro","9":"category-north-america","10":"category-region","11":"category-securities","12":"category-stocks","13":"category-technical-analysis","14":"category-text-articles","15":"category-traders-insight","16":"tag-bntx","17":"tag-crwd","18":"tag-ibit","19":"tag-ihak","20":"tag-sn","21":"contributors-categories-investopedia"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Chart Advisor: Bitcoin Surging toward Record Highs<\/title>\n<meta name=\"description\" content=\"Having benefited massively from the COVID pandemic, BNTX has since fallen out of favor with investors, declining more than 80%. Declines have been so...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/207077\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chart Advisor: Bitcoin Surging toward Record Highs | IBKR Campus US\" \/>\n<meta property=\"og:description\" content=\"Having benefited massively from the COVID pandemic, BNTX has since fallen out of favor with investors, declining more than 80%. Declines have been so severe that BNTX has become a deep-value play with a market cap of $24 billion while sporting only $2.5 billion in liabilities versus $24 billion in assets, with nearly $20 billion being current assets. Once current assets are discounted, most of the business can be had for very little. Today, the stock saw substantial interest as it surged 11% on the largest volume in over two years. It appears some investors have determined that BNTX is finally attractive again.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-bitcoin-surging-toward-record-highs\/\" \/>\n<meta property=\"og:site_name\" content=\"IBKR Campus US\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-23T12:15:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-23T13:35:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/pic1-3.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1828\" \/>\n\t<meta property=\"og:image:height\" content=\"1044\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Contributor Author\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" 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