Author

admin

Browsing

EXCLUSIVE: President Joe Biden was allegedly paid $5 million by an executive of the Ukrainian natural gas firm Burisma Holdings, where his son Hunter Biden sat on the board, a confidential human source told the FBI during a June 2020 interview, sources familiar told Fox News Digital.

The sources briefed Fox News Digital on the contents of the FBI-generated FD-1023 form alleging a criminal bribery scheme between then-Vice President Joe Biden and a foreign national that involved influence over U.S. policy decisions.

The FD-1023 form, dated June 30, 2020, is the FBI’s interview with a ‘highly credible’ confidential source who detailed multiple meetings and conversations he or she had with a top Burisma executive over the course of several years, starting in 2015. Fox News Digital has not seen the form, but it was described by several sources who are aware of its contents.

An FD-1023 form is used by FBI agents to record unverified reporting from confidential human sources. The form is used to document information as told to an FBI agent, but recording that information does not validate or weigh it against other information known by the FBI.

The Burisma executive sought the advice of the confidential source, a business professional, on gaining U.S. oil rights and getting involved with a U.S. oil company, the sources familiar with the document said. The Burisma executive was speaking with the confidential source to ‘get advice on the best way to go forward’ in 2015 and 2016.

According to the FD-1023 form, the confidential human source said the Burisma executive discussed Hunter’s role on the board. The confidential human source questioned why the Burisma executive needed his or her advice in acquiring access to U.S. oil if he had Hunter Biden on the board. The Burisma executive answered by referring to Hunter Biden as ‘dumb.’

The Burisma executive explained to the confidential source that Burisma had to ‘pay the Bidens’ because Ukrainian prosecutor Viktor Shokin was investigating Burisma, and explained how difficult it would be to enter the U.S. market in the midst of that investigation.

The confidential source further detailed that conversation, suggesting to the Burisma executive that he ‘pay the Bidens $50,000 each,’ to which the Burisma executive replied, it is ‘not $50,000,’ it is ‘$5 million.’

‘$5 million for one Biden, $5 million for the other Biden,’ the Burisma executive told the confidential human source, according to a source familiar with the document.

A source familiar said according to the document, the $5 million payments appeared to reference a kind of ‘retainer’ Burisma intended to pay the Bidens to deal with a number of issues, including the investigation led by Shokin. Another source referred to the arrangement as a ‘pay-to-play’ scheme. 

Sources familiar told Fox News Digital that the confidential human source believes that the $5 million payment to Joe Biden and the $5 million payment to Hunter Biden occurred, based on his or her conversations with the Burisma executive. 

The confidential source said the Burisma executive told him he ‘paid’ the Bidens in such a manner ‘through so many different bank accounts’ that investigators would not be able to ‘unravel this for at least 10 years.’

The document then makes reference to ‘the Big Guy,’ which, has been said to be a reference to Joe Biden.

The Burisma executive told the confidential source that he ‘didn’t pay the Big Guy directly.’ 

Fox News Digital has learned that the confidential human source has been used by the FBI as a regular, reliable source of information since 2010 and has been paid approximately $200,000 by the bureau. 

Sources said the Burisma executive appears to be at a ‘very, very high level’ of the company. One source familiar suggested the confidential source could be referring to the head of Burisma, Mykola Zlochevsky, but said the name of the Burisma executive is redacted in the document.

Biden has acknowledged that when he was vice president, he successfully pressured Ukraine to fire prosecutor Viktor Shokin. At the time, Shokin was investigating Burisma Holdings, and at the time, Hunter had a highly-lucrative role on the board receiving thousands of dollars per month. The then-vice president threatened to withhold $1 billion of critical U.S. aid if Shokin was not fired.

‘I said, ‘You’re not getting the billion. I’m going to be leaving here in,’ I think it was about six hours. I looked at them and said: ‘I’m leaving in six hours. If the prosecutor is not fired, you’re not getting the money,’’ Biden recalled telling then-Ukrainian President Petro Poroshenko. Biden recollected the conversation during an event for the Council on Foreign Relations in 2018. 

‘Well, son of a bitch, he got fired,’ Biden said during the event. ‘And they put in place someone who was solid at the time.’

Biden allies maintain the then-vice president pushed for Shokin’s firing due to concerns the Ukrainian prosecutor went easy on corruption, and say that his firing, at the time, was the policy position of the U.S. and international community.

In 2019, then-President Donald Trump, pressed Ukrainian President Volodymyr Zelenskyy to launch investigations into the Biden family’s actions and business dealings in Ukraine —specifically Hunter Biden’s ventures with Ukrainian natural gas firm Burisma Holdings and Joe Biden’s successful effort to have Shokin ousted.

Trump’s request was regarded by Democrats as a quid pro quo for millions in U.S. military aid to Ukraine had been frozen. Democrats also claimed Trump was meddling in the 2020 presidential election by asking a foreign leader to look into a Democratic political opponent.

Trump was later impeached by the House of Representatives for abuse of power and obstruction of Congress — all stemming from the phone call and the question about the Bidens’ dealings. The Senate voted for acquittal in February 2020.

The confidential source, according to the sources familiar with the FD-1023 form, told the Burisma executive he should ‘get away’ from the Bidens and said the executive should ‘not want to be involved’ with them.

A source familiar with the document told Fox News Digital that the confidential human source goes on to detail a later conversation with the Burisma executive following the 2016 presidential election. The confidential source asked the Burisma executive if he was ‘upset’ that Donald Trump won.

The source said the Burisma executive told the confidential source that he was ‘an oracle,’ referring to his or her advice to ‘get away’ from the Bidens due to fears of potential investigations into their dealings. 

The House Oversight Committee had subpoenaed the FBI for the FD-1023 document. After a back-and-forth between the committee and the bureau, and amid threats of holding FBI Director Christopher Wray in contempt of Congress, the FBI allowed all committee members to view the document in a secure setting on Capitol Hill. 

The revelations of the document came after a whistleblower approached GOP Sen. Chuck Grassley, R-Iowa, and House Oversight Committee Chairman James Comer, R-Ky., The whistleblower said the FBI was in possession of a document – the FD-1023 form dated June 30, 2020. 

The White House has maintained that President Biden has never been involved in his son’s business dealings and has never discussed them with him. 

Hunter Biden is currently under federal investigations for his ‘tax affairs.’ The investigation began in 2018 and was prompted by suspicious foreign transactions. 

The White House declined to comment, pointing to a statement by Joe Biden Thursday calling the allegations ‘a bunch of malarky.’

This post appeared first on FOX NEWS

Democratic presidential candidate Marianne Williamson’s new campaign manager has previously faced accusations of financial fraud for allegedly using organization funds on personal expenses.

The new campaign manager, Roza Calderon, was accused by the Placer Women Democrats in 2017 of spending almost $1,900 from the organization’s bank account on multiple personal expenses, including one instance in which the manager allegedly spent organization funds on tickets to a concert, according to reporting from Politico Thursday.

The group alleges that Calderon, who was serving as a volunteer treasurer at the time and had access to the organization’s online accounting ledger, used the credit card for not only the concert tickets, but also for personal expenses such as gasoline and movie downloads.

The Placer Women Democrats eventually filed a police report against Calderon, who was also running an unsuccessful campaign for the U.S. House in California’s 4th District at the time, while the former treasurer, Sharleen Finn, alleged that Calderon attempted to delete internal files to cover up the fraud.

‘When she was confronted about it, [her response] first sort of went into denial. And then later when the proof was coming out in terms of receipts and things that people had gathered, she said she would pay it back,’ Kathleen Crawford, who now serves as the chair of the Placer County Democratic Central Committee and was involved with the organization at the time of the alleged fraud, told Politico.

Asked about Calderon’s new role with the Williamson campaign, Crawford said she hopes Calderon has since been updated on the rules.

‘I’m hoping that Roza has learned lessons, and she has a professional accounting firm and has learned the rules,’ Crawford told Politico.

Crawford said the group would typically only raise $5,000 to $10,000 for an entire election cycle, making any misuse of the funds a large issue.

Calderon eventually returned $1,900 to the organization after being confronted about the issue, but has denied the accusation of fraud to local news outlets. 

The case was settled in court in 2019, with a judge ordering Calderon to write an apology letter to the Placer Women Democrats and barring her from taking any positions ‘of trust’ for elder or dependent adults.

Reached for comment by Fox News Digital, the Williamson campaign argued the issue has ‘been set aside and dismissed by the Superior Court of Placer County.’

‘Once again, we’re forced to respond to an apparent political ‘hit’ piece on newly appointed Campaign Manager, Roza Calderon and disproven allegations that were cleared several years ago,’ the campaign said in a statement.

‘These on-going attacks on the Marianne Williamson campaign are again an effort to diminish the significance of her second run for President and now, the corporate media establishment is waging war on campaign staffers,’ the statement continued. ‘We’re confident in the leadership abilities of Roza Calderon and happy to have her on board to lead this campaign to victory.’

Calderon also faces accusations of embellishing her experience prior to joining the Williamson campaign, falsely claiming on Linkedin to having served as the director of development for the progressive nonprofit Our Revolution from December 2022 to April 2023. However, a spokesperson for the organization told Politico that Calderon only served as a contract fundraiser.

‘Ms. Calderon was never an employee of Our Revolution, nor was she authorized to represent herself as the organization’s Development or Finance Director,’ a spokesperson for Our Revolution told Politico.

This post appeared first on FOX NEWS

Maine lawmakers have signed off on a proposal to expand the state’s equal pay law to prevent discrimination on the basis of race.

The proposal from House Speaker Rachel Talbot Ross received affirmative votes in both chambers of the Maine Legislature this week. The change would expand the current equal pay law, which prevents employers from discriminating between employees on the basis of sex by paying lower wages for comparable work on jobs that require comparable skill, effort and responsibility.

Ross’s proposal adds language that an employer may also not discriminate between employees on the basis of race. Ross said in a statement on Wednesday that the law change ‘will help close the racial wealth gap.’

Democratic Gov. Janet Mills must also sign off on the law change.

<!–>

This post appeared first on FOX NEWS

–>

Former President Trump has been indicted on federal charges that emerged out of Special Counsel Jack Smith’s months-long investigation.

Trump facing at least seven federal counts related to document handling and obstruction of justice. He has been ordered to appear in federal court in Miami on Tuesday.

Trump himself announced the indictment on his social media platform, Truth Social.

‘The corrupt Biden Administration has informed my attorneys that I have been Indicted, seemingly over the Boxes Hoax, even though Joe Biden has 1850 Boxes at the University of Delaware, additional Boxes in Chinatown, D.C., with even more Boxes at the University of Pennsylvania, and documents strewn all over his garage floor where he parks his Corvette, and which is ‘secured’ by only a garage door that is paper thin, and open much of the time,’ Trump said on Truth Social.

Trump said he has ‘been summoned to appear at the Federal Courthouse in Miami on Tuesday, at 3 PM.’ 

‘I never thought it possible that such a thing could happen to a former President of the United States, who received far more votes than any sitting President in the History of our Country, and is currently leading, by far, all Candidates, both Democrat and Republican, in Polls of the 2024 Presidential Election,’ Trump posted. ‘I AM AN INNOCENT MAN!’ 

Trump added: ‘This is indeed a DARK DAY for the United States of America. We are a Country in serious and rapid Decline, but together we will Make America Great Again!’ 

It is unclear what, specifically, Trump has been charged for. 

This is the second time Trump has been indicted this year. Trump pleaded not guilty in April after being charged by Manhattan District Attorney Alvin Bragg for 34 felony counts of falsifying business records in the first degree.

Smith was appointed by Attorney General Merrick Garland in November 2022 to investigate Trump’s alleged improper retention of classified records at his Mar-a-Lago home.

The Justice Department had been investigating the matter after the FBI conducted an unprecedented raid on his private residence in August 2022.

NARA told Congress in February 2022 that Trump took 15 boxes of presidential records to his personal residence in Florida. NARA recovered the 15 boxes from Mar-a-Lago and ‘identified items marked as classified national security information within the boxes.’ The matter was referred to the Justice Department by NARA. 

Those boxes allegedly contained ‘classified national security information,’ and official correspondence between Trump and foreign heads of state.

Classified material that was reportedly confiscated by the FBI during the FBI’s raid in August included a letter to Trump from former President Obama, a letter from Kim Jong Un, a birthday dinner menu and a cocktail napkin.

Trump, last year, said the National Archives did not ‘find’ the documents, but that they were ‘given, upon request.’ Sources close to the former president said he had been cooperating and there was ‘no need’ for the raid.

The affidavit said that the FBI’s investigation had ‘established that documents bearing classification markings, which appear to contain National Defense Information (NDI), were among the materials contained’ in the 15 boxes Trump initially turned over to the NARA. 

‘A preliminary triage of the documents with classification markings revealed the following approximate numbers: 184 unique documents bearing classification markings, including 67 documents marked as CONFIDENTIAL, 92 documents marked as SECRET, and 25 documents marked as TOP SECRET,’ the affidavit states. 

The FBI said it had ‘probable cause to believe’ that additional records containing classified information, including National Defense Information, would be found on the premises of Mar-a-Lago home, beyond what he had previously turned over to the NARA, according to the unsealed and heavily-redacted affidavit used to justify the raid. 

According to the property receipt from the Aug. 8, 2022 FBI raid, FBI agents took approximately 20 boxes of items from the premises, including one set of documents marked as ‘Various classified/TS/SCI documents,’ which refers to top secret/sensitive compartmented information.

Records covered by that government classification level could potentially include human intelligence and information that, if disclosed, could jeopardize relations between the U.S. and other nations, as well as the lives of intelligence operatives abroad. However, the classification also encompasses national security information related to the daily operations of the president of the United States.

The property receipt also showed that FBI agents collected four sets of top secret documents, three sets of secret documents and three sets of confidential documents, but the document does not reveal any details about any of those records.

The government conducted the search in response to what it believed to be a violation of federal laws: 18 USC 793 — gathering, transmitting or losing defense information; 18 USC 2071 — concealment, removal or mutilation; and 18 USC 1519 — destruction, alteration or falsification of records in federal investigations. 

The allegation of ‘gathering, transmitting or losing defense information’ falls under the Espionage Act.

The indictment comes after classified records were also discovered in President Biden’s office at the Penn Biden Center last year. Those records were from his time as vice president during the Obama administration and from his tenure in the U.S. Senate.

At the time, Garland initially chose U.S. Attorney John Lausch to conduct a review of classified records that were discovered at the Penn Biden Center. In December, more classified records were found at Biden’s Wilmington, Delaware home, but the discoveries were not made public until this year.

Garland later appointed U.S. Attorney Robert Hur as special counsel to investigate Biden’s improper retention of classified records. Hur took over the DOJ investigation from Lausch.

Meanwhile, classified records were also found at former Vice President Mike Pence’s home in Indiana.

Fox News reported last week that the Justice Department had completed its investigation in the matter and that Pence will not be charged.

The status of Biden’s special counsel investigation is unclear.

Smith also took over the Justice Department’s investigation into the Capitol riot on Jan. 6, 2021. In that role, he examined whether Trump or other officials interfered with the peaceful transfer of power following the 2020 presidential election, including the certification of the Electoral College vote on that day.

This post appeared first on FOX NEWS

The U.S. Department of Defense does not support hosting drag shows at military installations and facilities, according to a DOD spokesperson.

Pentagon press secretary Air Force Brig. Gen. Pat Ryder was asked during a press briefing Thursday about a policy rolled out by the Pentagon aimed at banning drag shows on military installations.

A bill pushed by Sen. Steve Daines, R-Mont., contained language that ‘appropriated or otherwise made available for the Department of Defense and no facilities owned or operated by Department of Defense may be used to host, advertise, or otherwise support an adult cabaret performance.’

Specifically, ‘Adult Cabaret’ was defined as a performance featuring topless or go-go dances, exotic dances, or any show featuring male or female impersonations that appeal to prurient interest.

In light of the proposed legislation, and under intense scrutiny, military installations canceled planned Pride Month drag shows.

During Thursday’s press briefing, a reporter asked what message service members should take away from the policy change, especially since it was rolled out at the beginning of Pride month.

Ryder told the reporter the military recognizes June as Pride month, adding that they are grateful for the many contributions from service members and DOD civilian employees from the LGBTQI+ community who serve the country.

‘As you well know, those of you who’ve covered DOD, we conduct special observance months to recognize the continuous achievements of all Americans into American culture for increased awareness, mutual respect and understanding to include Pride month,’ Ryder said. ‘When it comes to drag shows, however, you know, I would take exception.’

He said it has been a ‘longstanding policy’ that the DOD will not host drag events at U.S. military installations or facilities.

‘We became aware of the drag events during an April congressional hearing, that there were drag events scheduled to take place at DOD installations and facilities,’ he said. ‘And so, again, the secretary advised that the department will not host such events.’

This post appeared first on FOX NEWS

More Americans are now identifying as socially and economically conservative than at any point in more than a decade, a new Gallup poll has found.

According to the poll, 38% of Americans say they are conservative on social issues, up from 33% last year and 30% in 2021. That is the highest percentage since 2012, when the same number of Americans identified as such.

Americans identifying as liberal dropped significantly, falling to 29% from 34% in both 2022 and 2021. Those identifying as moderate made up 31% of survey participants.

When broken down by political affiliation, Republicans had the largest swing towards conservatism with 74% saying they identified as socially conservative. That number was 68% in 2022 and 60% in 2021.

Independents went in the same direction with 29% identifying as socially conservative, up from 26% in 2022 and 24% in 2021. Democrats continued to hover at around 10%.

Americans aged 18-29 also saw a big swing towards conservatism with 30% identifying as socially conservative, up from 26% in 2022 and 24% in 2021. Americans aged 30-49 and 50-64 trended in the same direction, with the former moving up to 35% from 27% in 2022 and 22% in 2021, and the latter up to 46% from 36% in 2022 and 35% in 2021.

Those identifying as economically conservative also hit its highest point since 2012, reaching 44%. Those identifying as moderate were at 33% and liberal at 21%.

In terms of political affiliation, 79% of Republicans said they identified as economically conservative, while 36% of independents and 16% of Democrats said the same.

The poll’s findings come as the nation continues to grapple with efforts from the left to push transgender ideology on American society. Conservatives have sought to counter those efforts with state-level laws banning things like gender transition treatments for children and boycotts against corporations for promoting such ideologies.

This post appeared first on FOX NEWS

President Biden on Thursday railed against who he called ‘hysterical’ and ‘prejudiced’ lawmakers enacting laws across the country banning gender transition surgeries for children.

Biden made the comments during an appearance at a joint press conference with U.K. Prime Minister Rishi Sunak, after being asked by a reporter about the laws being enacted to protect minors, or their parents, from making irreversible changes to their bodies.

‘As president, I was proud to end the band on transgender troops in our military, signed the Respect for Marriage Act, strengthen the civil rights protections for all LGBT Americans and advance LGBT human rights around the globe,’ Biden said. 

‘But our fight is far, far from over because we have some hysterical and, I would argue, prejudiced people who are engaged in all that you see going on around the country. It’s an appeal to fear, and it’s an appeal that is totally, thoroughly unjustified, and ugly,’ he said. 

He went on to call the bills ‘hateful,’ and claimed they were ‘targeting transgender children, terrifying families, and criminalizing doctors.’

Biden then repeated the trope often used by Democrats to describe children as collectively belonging to the nation, rather than their parents.

‘These are our kids. These are our neighbors. It’s cruel and it’s callous. It’s not somebody else’s kids, they’re all our kids. Our children are the kite strings that hold our national ambitions aloft. It matters a great deal how we treat everyone in this country,’ he said. 

He added that he planned to announce new initiatives at a ‘Pride Day’ event that was postponed due to the air quality in D.C. being negatively impacted by the smoke from the ongoing Canadian wildfires.

Those initiatives, Biden said, included strengthening ‘the physical safety, the dedicated resources, the federal coordination to better protect pride celebrations, marches, community centers, health care providers and small businesses.’ 

He said his administration would also be addressing what he called ‘civil rights violations,’ such as ‘book bans’ that he claimed ‘make it harder for kids to learn.’ 

‘We’re also engaging in mental health and other support – more mental health resources and funding to help families support their kids, new efforts to protect LGBTQ kids in foster care, and steps to end LGBTQ homelessness,’ Biden said.

‘Congress has to pass … the Equality Act and send it to my desk. LGBTQ Americans, especially children, you’re loved, you’re heard, and this administration has your back, and I mean it. We are not relenting one single second to make sure that they’re protected,’ he added.

Earlier this week, Missouri became the latest state to ban gender treatment for minors, following Republican Texas Gov. Greg Abbott signing a similar bill into law last week. At least 20 states have now enacted laws restricting or banning gender-affirming medical care for transgender minors. 

This post appeared first on FOX NEWS

Lawyers argued in favor of redrawing New York’s congressional map Thursday before a state appeals court. A victory for the plaintiffs in the Democrat-backed suit may mean reinstating a brutal gerrymander that was struck down last year.Should Democrats attempt to reinstate their original map, up to seven Republican representatives — including Michael Lawler, Nicole Malliotakis and George Santos — could face near-unwinnable battles for re-election.Republicans have slammed the suit as an attempted partisan power-grab. ‘[The plaintiffs’] goal here, if they win, would be to put this case back in the backrooms of Albany and in D.C., so they can gerrymander the state,’ Former Republican Rep. John Faso said of the case.

Lawyers seeking redrawn congressional lines in New York argued before a state appeals court Thursday in a Democrat-backed lawsuit that could have implications in the 2024 fight for control of the House.

The lawsuit was brought on behalf of 10 New York voters who want a state redistricting commission to submit new proposed state congressional lines for 2024. A victory for the plaintiffs would scrap lines drafted for 2022 by an outside expert after a legal challenge. Republicans were able to flip four congressional seats in New York under those lines.

Democrats who support the lawsuit said they want to ensure that a state commission approved by voters prior to the 2022 election, to draw political maps, gets to fulfill its constitutional duty. Republicans accused Democrats of seeking a political advantage.

‘Their goal here, if they win, would be to put this case back in the backrooms of Albany and in D.C., so they can gerrymander the state,’ former Republican Rep. John Faso said after the arguments in the appellate division of the state Supreme Court.

New York’s political maps for 2022 were supposed to have been drawn by the state’s Independent Redistricting Commission, a body made up of equal numbers of Democrats and Republicans. But the commission failed to reach a consensus and the Democrat-controlled Legislature stepped in and created its own maps.

The Legislature’s maps would have given Democrats a strong majority of registered voters in 22 of the state’s 26 congressional districts. Republicans accused the Democrats of gerrymandering.

After a court challenge, New York’s highest court ruled the Legislature lacked the authority to redraw the lines. The Court of Appeals handed authority to draw new district maps to an expert, who drew up more competitive congressional districts.

Republicans were able to gain seats in New York under those maps, including one held by Democratic Rep. Sean Patrick Maloney, who ran the House Democrats’ campaign arm. The Republican romp in New York came even as Democrats ran stronger than expected nationally.

Republicans currently hold a 222-213 edge over Democrats in the House.

The voters filed a lawsuit last year against the commission and its members, alleging violations of the state Constitution’s redistricting commission provisions. They seek to compel the commission to submit new proposed congressional lines.

A state trial court judge in Albany rejected the request in September.

In April, Democratic Gov. Kathy Hochul and State Attorney General Letitia James jointly filed a friend-of-the-court brief in favor of legal action.

The voters’ lawyer told the five-judge panel Thursday that the redistricting process approved by voters was never completed.

‘The IRC indisputably did not meet the constitutionally mandated duty it had to draw the congressional map,’ attorney Aria Branch told the judges.

Lawyers who want to keep the 2022 maps argued that they are constitutional and should remain in place for the rest of the decade.

The case is expected to ultimately be decided by the state Court of Appeals.

<!–>

This post appeared first on FOX NEWS

–>

In this episode of StockCharts TV’s Sector Spotlight, wrapping up the month of May, I look back at developments in May for Asset Classes and Sectors. Using Monthly Relative Rotation Graphs and monthly charts, I talk you through the good and the not-so-good parts of the markets, starting with the observation that, in May, only 3 out of 11 sectors recorded a positive return…. not much.

This video was originally broadcast on June 6, 2023. Click anywhere on the Sector Spotlight logo above to view on our dedicated Sector Spotlight page, or click this link to watch on YouTube. You can also check out the video on the StockCharts TV on-demand website StockChartsTV.com, or on the associated app on mobile platforms like iOS and Android, or TV platforms like Roku, Apple TV, Amazon Fire TV and Chromecast.

Sector Spotlight airs weekly on Tuesdays at 10:30-11:00am ET. Past episodes can be found here.

#StaySafe, -Julius

Zillow Group, Inc. (ZG) has faced a lot of headwinds in 2021. It pulled the plug on its home flipping segment, Zillow Offers, a big revenue generator. That hurt the company’s bottom line, but, since then, Zillow Group has exhibited signs of turning around. It’s made technological strides by offering a cool app and is experimenting in the AI space to create a user experience that eases the home search process.

ZG and Zillow Group Class C Shares (Z) were two stocks that made it to the StockCharts Technical Ranking (SCTR) scan on June 6. The stock has been trending higher, bouncing off its 100-day moving average (MA), but it’s worth looking at its weekly chart to see how much upside potential the stock has.

CHART 1: WEEKLY CHART OF ZILLOW STOCK. As long as the trend is up, the stock price has a lot of upside potential.Chart source: StockCharts.com (click chart for live version). For illustrative purposes only.

After peaking in February 2021, Zillow’s stock price plunged, reaching a low in October 2022 that was close to its March 2020 low. Since October, the stock price has been rising and is trading above its 50-week MA. The 100-week MA is still trending lower, and the 200-week MA is relatively flat. These moving averages can act as support and resistance levels. Note that the 20-week MA is, at the moment, acting as a short-term support level.

Is the stock one to add to your portfolio? Let’s look at the daily chart.

Zeroing In: Daily Price Action in Zillow Stock

The 50- and 100-day MAs are trending upward, which is a positive sign for the stock. Looking at the one-year daily chart, the stock is approaching a short-term resistance level of around $48, its most recent high (see chart below).

CHART 2: DAILY CHART OF ZILLOW. Upward trending moving averages, SCTR > 70, and relative strength with respect to the S&P 500 index all indicate the stock has upside potential.Chart source: StockCharts.com (click on chart for live version). For illustrative purposes only.

The SCTR score has been above 70 since March 20, and its relative strength with respect to the S&P 500 index is in positive territory. Overall, ZG is showing strength. If the stock falls below its 100-day MA and stays below it, then the uptrend would no longer be in play.

How to Trade Zillow Stock

You may need to exercise some patience if you’re considering entering a long position in ZG or Z. If the stock trades above its most recent high of $48, it would validate the uptrend.If price pulls back after reaching a new high above $48, then continues moving higher on above average volume, that would make a good entry point signal. For your price target, you’d have to look at the weekly chart to determine the first resistance level. It would probably be the 100-week MA. As long as the pattern of higher highs and higher lows continues, you want to stay in the trade. In the case of ZG, if the stock moves to the 100-week MA, stalls, and drops below the 20-week MA, you may think about exiting the trade. If the stock moves above the 100-week MA, then your next target would be at the 200-week MA.Keep an eye on the SCTR and relative strength on the daily chart .As long as the SCTR remains above 70 and relative strength against the S&P 500 index continues trending higher, your long position can remain in play. Use trailing stops to determine when to exit the trade. And if you have a significant position size, you can take profits on some of your positions instead of the entire investment in the stock.

Other Stocks From the Scan

Here are some of the other stocks that showed up on the large-cap SCTR scan. Do you detect any industry trends? 

American Express Co.  (AXP)

Baidu (BIDU)

Discover Financial Services (DFS)

Expedia, Inc. (EXPE)

Hyatt Hotels Corp. (H)

InterContinental Hotels Group PLC (IHG)

Marriott International, Inc. (MAR)

Looking Back at DOCU

On June 1, Docusign, Inc. (DOCU) was the featured SCTR scan stock. Let’s look at how that stock is performing.

CHART 3: DAILY CHART OF DOCU. Conditions are valid from last week. If you opened a long position, be aware of market conditions so that you know when to exit your position.Chart source: StockCharts.com (click on chart for live version). For illustrative purposes only.

The SCTR is still moving higher, as is the relative strength with respect to the S&P 500 index ($SPX). The Cup with Handle (er, teapot) pattern is still in play. And the stock has broken above its $58.80 resistance level, although volume could be higher. So the conditions from last week are still valid.

SCTR Crossing Scan

[country is US] and [sma(20,volume) > 100000] and [[SCTR.large x 76] or [SCTR.large x 78] or [SCTR.large x80]] 

Credit: Greg Schnell, CMT, MFTA.

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.