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.
Best stocks to trade on February 3-7
2020-01-31 • Updated
Google: a healthy outlook
From a technical perspective, Google stock looks healthy. The Moving Averages are in ascending order, the price is mostly moving above the 50-MA. Currently, it is at $1,456 per share. The earnings report coming on Monday at midnight will either push it up to $1,496 or drag it down to the support of $1,430. Graphically, the last several months have been showing the following pattern: three-four weeks of rising and moving above the 50-MA get interrupted by several days of dipping below. That’s also visible at the corresponding Awesome Oscillator movement: each time a dip below the zero-line is followed by a “mountain” of several weeks. This observation does apply to mostly each month since September 2019. If the picture does not change, the next week should bring us another slight decline in the stock price, but then it is “supposed” to rise back again and keep doing so for two-three weeks.
Disney: flood myth
After the gym-style healthy chart of Google, the performance of Disney stock price looks like the flood myth representation. The 50-MA crossed the 100-MA recently, both aiming downwards. Although that does not qualify as a “death cross”, the 200-MA is not very far away down. In any case, the price has been dropping since December and is likely to keep doing that in the mid-term, unless Disney shows some good sales results in Tuesday’s earnings report.
In here, there are problems. The inverted configuration of the Moving Averages and the declining-to-flat shape of the 200-MA tell us that this stock has been experiencing some hard times long already. There is little reason to expect it to take a different direction in the nearest future, unless Ford surprises us with some outstanding performance in the earnings report on Tuesday. If it does, the price will have to get back to the resistance of $9.10 left not so long ago. Otherwise, it is already testing the support of $8.75. From there, the 10-months low of $8.50 is not so far away.
General Motors: just on time
General Motors does also look heavy, but there are a few technicalities that make it look more optimistic than Ford. First, the movement of the stock price looks smoother. The Moving Averages are more aligned to each other, although all of them are in the descending order. That means the performance of this share is not so dramatically volatile and stochastic like Ford. Also, the regular bullish divergence is clearly observable as indicated in the H4 chart. Hence, we may presume that the resistance of $35.70 may be tested somewhere in the mid-term. And it’s about time because currently, the stock is checking the 6-months low of $33.
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.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.
Hey guys, this is the last full trading week in May, and many forward-looking individuals like myself are already preparing themselves to seize whatever opportunities June may have in store. On this note, I will review a few commodities that have satisfied my quest for swing-trading opportunities in the coming month. Follow me!
The Bank of England (BoE) has dramatically shifted its economic forecasts. They no longer expect a recession in the UK and have upgraded their growth projections. This year, the BoE predicts GDP growth of +0.25%, a significant improvement from previous expectations. Next year's forecast is even more optimistic, with a projected growth of 0.75%.