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Here's why TonCoin fell below $5.. Is a rebound possible soon?
The price of Ton Coin (TON) is witnessing a slow decline that may extend further than expected due to the bearish trend among investors.
The potential decline will mostly stop after the price hits a two-month low, which could take it below $5.
TonCoin investors are preparing to sell
It will be observed that the Toncoin price will mostly show a decline in the coming days as Toncoin holders will move to sell their holdings. This is evident from the high profits witnessed in the past few days.
The network recognized that the Profit Loss Index reached all-time highs during the past week as the price of Toncoin reached all-time highs. Historically, high realized profits are an indicator of potential selling among investors. This is because asset owners will try to secure the gains they have recorded by selling their holdings.
It is also possible that TonCoin holders will adhere to this behavior and choose to sell their assets.
The price's Daily Active Address Divergence (DAA) indicator also indicates a move in this direction. This divergence occurs when a cryptocurrency's price and its daily active addresses move in opposite directions, indicating a potential discrepancy between market valuation and network usage.
Given that the price over the past few days has been positive, but participation has been actively declining, a sell signal was observed. The indicator hints at a potential decline and suggests that investors unload their holdings before they lose their gains.
This appears to be the path that TON holders will choose, which will lead to Toncoin seeing further losses.
Toncoin price at the time of writing is trading at $6.2, and given the above conditions, the altcoin is likely to decline to test the support level at $5.7. Losing this level would cause TON to fall to $4.7, representing a 25% decline for investors.
On the other hand, if the $5.7 support is not broken, Toncoin price will bounce back to regain the $6.5 support. Doing so would invalidate the bearish thesis and provide the altcoin with the necessary boost to attempt a breakout of the $7.0 level to record a new ATH.
The potential decline will mostly stop after the price hits a two-month low, which could take it below $5.
TonCoin investors are preparing to sell
It will be observed that the Toncoin price will mostly show a decline in the coming days as Toncoin holders will move to sell their holdings. This is evident from the high profits witnessed in the past few days.
The network recognized that the Profit Loss Index reached all-time highs during the past week as the price of Toncoin reached all-time highs. Historically, high realized profits are an indicator of potential selling among investors. This is because asset owners will try to secure the gains they have recorded by selling their holdings.
It is also possible that TonCoin holders will adhere to this behavior and choose to sell their assets.
The price's Daily Active Address Divergence (DAA) indicator also indicates a move in this direction. This divergence occurs when a cryptocurrency's price and its daily active addresses move in opposite directions, indicating a potential discrepancy between market valuation and network usage.
Given that the price over the past few days has been positive, but participation has been actively declining, a sell signal was observed. The indicator hints at a potential decline and suggests that investors unload their holdings before they lose their gains.
This appears to be the path that TON holders will choose, which will lead to Toncoin seeing further losses.
Toncoin price at the time of writing is trading at $6.2, and given the above conditions, the altcoin is likely to decline to test the support level at $5.7. Losing this level would cause TON to fall to $4.7, representing a 25% decline for investors.
On the other hand, if the $5.7 support is not broken, Toncoin price will bounce back to regain the $6.5 support. Doing so would invalidate the bearish thesis and provide the altcoin with the necessary boost to attempt a breakout of the $7.0 level to record a new ATH.
Winmark Corporation increases quarterly dividend by 12.5% to $0.90; Dividend yield 1%
Winmark Corporation (WINA) declared a quarterly dividend of $0.90 per share, which equates to $3.60 annually. This represents an increase of 12.5% from the previous dividend of $0.80 per share.
The dividend is scheduled to be paid on June 3, 2024 to shareholders on the company's books as of May 15, 2024. The date on which a shareholder must own the stock to be entitled to receive the dividend, known as the ex-dividend date, is May 14, 2024.
The annual dividend yield is calculated at 1 percent.
Winmark Corporation (WINA) declared a quarterly dividend of $0.90 per share, which equates to $3.60 annually. This represents an increase of 12.5% from the previous dividend of $0.80 per share.
The dividend is scheduled to be paid on June 3, 2024 to shareholders on the company's books as of May 15, 2024. The date on which a shareholder must own the stock to be entitled to receive the dividend, known as the ex-dividend date, is May 14, 2024.
The annual dividend yield is calculated at 1 percent.
Edible Garden AG stock temporarily halted due to price instability, rising 144%
Trading on Edible Garden AG (EDBL) stock has been temporarily halted due to significant price fluctuations, with a value increase of 144%.
Previously reported: Edible Garden AG Incorporated, a company specializing in indoor growing, local, organic and eco-friendly vegetables and produce (Nasdaq as EDBL and EDBLW), today unveiled a preliminary Q1 report showing a 40% rise in vegetable sales Compared to the same period of the previous year. Additionally, there has been a more than 200% rise in packaged herbal sales. These increases are due to the company's investment in new equipment and infrastructure improvements, as well as an expansion in the number of stores carrying its products, which has increased its herb production capacity twelvefold.
Trading on Edible Garden AG (EDBL) stock has been temporarily halted due to significant price fluctuations, with a value increase of 144%.
Previously reported: Edible Garden AG Incorporated, a company specializing in indoor growing, local, organic and eco-friendly vegetables and produce (Nasdaq as EDBL and EDBLW), today unveiled a preliminary Q1 report showing a 40% rise in vegetable sales Compared to the same period of the previous year. Additionally, there has been a more than 200% rise in packaged herbal sales. These increases are due to the company's investment in new equipment and infrastructure improvements, as well as an expansion in the number of stores carrying its products, which has increased its herb production capacity twelvefold.
Capri shares decline after the New York Times revealed that the US Federal Trade Commission intends to stop Tapestry’s acquisition of the company.
According to a report from The New York Times on Wednesday, the US Federal Trade Commission (FTC) is preparing to take legal action to block Tapestry's (TPR) proposed $8.5 billion acquisition of Capri Holdings Ltd. (CPRI).
This potential deal would merge well-known fashion brands, such as Versace, Michael Kors and Coach.
The New York Times reported that sources familiar with the situation revealed that the FTC's five commissioners plan to meet next week to deliberate on the issue, which could lead to a formal decision on whether to file a lawsuit. However, they stated that the FTC may decide not to take legal action.
The planned merger, which seeks to create a major US luxury goods company to rival European counterparts such as LVMH, has faced regulatory scrutiny in the United States, although it has been approved by regulators in the European Union and Japan.
Investors have reacted negatively to the proposed merger, with Capri Holdings' stock value falling 22.25% this year. In pre-market trading, CPRI shares fell an additional 2.4%. Meanwhile, Tapestry stock rose 1.9% in pre-market trading. This pessimism casts doubt on whether the merger will go ahead as intended.
The potential action by the Federal Trade Commission to intervene in Tapestry's acquisition of Capri Holdings represents a significant event in fashion industry regulation, highlighting a shift in focus on antitrust enforcement under the current government.
According to a report from The New York Times on Wednesday, the US Federal Trade Commission (FTC) is preparing to take legal action to block Tapestry's (TPR) proposed $8.5 billion acquisition of Capri Holdings Ltd. (CPRI).
This potential deal would merge well-known fashion brands, such as Versace, Michael Kors and Coach.
The New York Times reported that sources familiar with the situation revealed that the FTC's five commissioners plan to meet next week to deliberate on the issue, which could lead to a formal decision on whether to file a lawsuit. However, they stated that the FTC may decide not to take legal action.
The planned merger, which seeks to create a major US luxury goods company to rival European counterparts such as LVMH, has faced regulatory scrutiny in the United States, although it has been approved by regulators in the European Union and Japan.
Investors have reacted negatively to the proposed merger, with Capri Holdings' stock value falling 22.25% this year. In pre-market trading, CPRI shares fell an additional 2.4%. Meanwhile, Tapestry stock rose 1.9% in pre-market trading. This pessimism casts doubt on whether the merger will go ahead as intended.
The potential action by the Federal Trade Commission to intervene in Tapestry's acquisition of Capri Holdings represents a significant event in fashion industry regulation, highlighting a shift in focus on antitrust enforcement under the current government.