&l;p&g;&l;img class=&q;dam-image shutterstock size-large wp-image-1036378723&q; src=&q;https://specials-images.forbesimg.com/dam/imageserve/1036378723/960×0.jpg?fit=scale&q; data-height=&q;622&q; data-width=&q;960&q;&g; Shutterstock
After a prolonged correction, Bitcoin is back big time. The &a;ldquo;people&a;rsquo;s currency&a;rdquo; gained close to 7% this week, stabilizing around the $11,000 mark.
Is this comeback for real?
Hard to say, as there are hardly any &a;ldquo;fundamentals&a;rdquo; to judge whether Bitcoin is undervalued or overvalued at these levels. Still, there are a couple of bullish signs for the digital currency worth noticing.
One of them is that Bitcoin is beginning to behave like the &a;lsquo;new gold,&a;rsquo; shining in times of extreme uncertainty that take over Wall Street.
There was a time when gold would shine as Wall Street faltered. That was long time ago, when it was the hedge against uncertainty. It was the asset where investors could park their cash in times of political and economic turmoil.
Best Undervalued Stocks To Own Right Now: Altisource Residential Corporation(RESI)
Advisors’ Opinion:
- [By Logan Wallace]
Front Yard Residential (NYSE:RESI) issued its quarterly earnings data on Tuesday. The real estate investment trust reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.02), Morningstar.com reports. Front Yard Residential had a negative return on equity of 25.77% and a negative net margin of 196.93%.
Best Undervalued Stocks To Own Right Now: Newfield Exploration Company(NFX)
Advisors’ Opinion:
- [By Paul Ausick]
Newfield Exploration Co. (NYSE: NFX) traded down about 10.2% Wednesday and posted a new 52-week low of $23.10 after closing Tuesday at $25.73. The stock’s 52-week high is $40.82. Volume was approaching five times the daily average of 2.6 million shares. The independent oil & gas producer reported earnings last night.
- [By VantagePoint]
Newfield Exploration Company (NYSE: NFX) just had a bearish crossover on Friday, according to the chart. The predicted 72-hour moving average crossed below the simple 10-day moving average. If Monday's price action holds, that will serve as a confirmation the negative trend.
- [By Chris Lange]
The S&P 500 stock posting the largest daily percentage loss ahead of the close Tuesday was Newfield Exploration Company (NYSE: NFX) which traded down nearly 5% at $23.22. The stocks 52-week range is $22.96 to $37.61. Volume was 5.2 million compared to the daily average volume of 3.3 million.
Best Undervalued Stocks To Own Right Now: Magic Software Enterprises Ltd.(MGIC)
Advisors’ Opinion:
- [By Lisa Levin]
Magic Software Enterprises Ltd. (NASDAQ: MGIC) is estimated to report quarterly earnings at $0.14 per share on revenue of $67.07 million.
Canadian Solar Inc. (NASDAQ: CSIQ) is projected to report quarterly earnings at $0.47 per share on revenue of $1.34 billion.
- [By Logan Wallace]
ValuEngine lowered shares of Magic Software Enterprises (NASDAQ:MGIC) from a buy rating to a hold rating in a report issued on Monday.
Several other equities research analysts have also recently issued reports on MGIC. Zacks Investment Research raised shares of Magic Software Enterprises from a sell rating to a hold rating in a research report on Wednesday, January 17th. BidaskClub cut shares of Magic Software Enterprises from a sell rating to a strong sell rating in a research report on Tuesday, January 23rd. Finally, HC Wainwright set a $10.00 target price on shares of Magic Software Enterprises and gave the stock a buy rating in a research report on Thursday, March 1st. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $9.81.
