The S&P 500 had a good week due to the impressive start of Q1 earnings and favorable inflation data. In March, the consumer price index rose 5%, lower than the previous month's 6%, and met economists' expectations.
3 Christmas Stocks to Buy
2022-12-16 • Updated
It is said that the 2022 holiday season will be different from the previous one. Most shops, restaurants, and entertainment places will remain open. Besides, online capabilities have improved significantly as companies have adapted to extended lockdowns. As a result, customers have a wide variety of things to do and places to go during this Christmas break. Which industries will benefit from a high-spending season? E-commerce and retail, hospitality and tourism, and those engaged in money transfer.
Amazon: Best of the Best
Amazon is the top stock in the e-commerce and retail sector. By the way, Amazon showed record revenue for the post-Thanksgiving sales period as it offered the lowest prices. Thus, we can expect that the Christmas holidays will be successful for Amazon. Besides, this company is engaged in cloud computing, digital streaming, and artificial intelligence. Moreover, Amazon is at the local lows currently. This makes this stock an attractive purchase before the holidays!
The stock of Amazon is in the lower part of the ascending channel. The nearest support level is $3350 (the 50-week moving average). In combination with the lower trend line, this support should constrain the stock from further falling. Thus, the stock is likely to reverse up soon. If it breaks above the $3500 psychological mark, Amazon will rally to the November peak of $3700!
PayPal: Perfect Chance to Buy the Dip
PayPal has dropped by over 40% since the mid-summer of 2021. Why? Covid-related restrictions helped the stock of PayPal to surge above $300 as more people started using digital payments. However, PayPal began to falling from that moment, as the company missed earnings expectations for the second quarter, even though it still posted strong earnings growth.
Besides, eBay stopped working with PayPal, and it pressed the stock. However, PayPal signed a deal with Amazon to allow consumers to use PayPal's Venmo at checkout starting next year! Besides, the company has recently announced the launch of its PayPal "super app", which merges all of its services. 430 million active PayPal users and 80 million Venmo accounts are the company's most significant advantages.
PayPal is near the critical support level of $180.00. When the stock price breaks above the psychological mark of $200, the stock will run further to the 100-week moving average of $215.00 and the following round number of $250.00.
Coca-Cola: New Year Atmosphere
Almost everybody associates New Year with Coca-Cola. But is the stock of Coca-Cola is a good choice for investing now? Let's find out!
First, Coca-Cola revealed impressive third-quarter earnings results, which exceeded analysts' expectations. The beverage giant showed $10.04 billion in net revenue, representing a 16.1% growth rate against the year-ago period. Besides, Coca-Cola's consolidated unit volumes outrun the pre-pandemic levels! It has proved that the company has fully recovered from the negative impact of the pandemic. Moreover, Coca-Cola has a bright future of growth due to its reputation as a Dividend King with 59 consecutive years of payout increases.
Coca-Cola is just under $60 – the peak of 2020. When the stock exceeds this resistance level, the doors will be open to the following round number of $65.00 and then $70.00. Support levels are at the 50- and 100-week moving averages at $54.00 and $52.00.
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The previous year 2022, was undoubtedly tumultuous for the stock markets, with several stocks plummeting across multiple industries. Analysts have blamed the hard times on inflation, hawkish federal reserve policies, an impending global recession, and the ongoing crisis in Ukraine. This year, however, we're beginning to see some recovery in the stock markets. This article will find a few stocks worth buying this year.
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