US500: A further correction towards 5192 before resuming purchases.
Bearish Scenario: Sales below 5220... Bullish Scenario: Buys above 5225 (if price fails to break below decisively) ...
Stocks to trade in July
2023-07-05 • Updated
When I started trading stocks a few years ago, I often needed to pay more attention to my technical analysis skills and trust that the market would play fair according to my analysis. I have since discovered that the safer approach to trading stocks is to, more often than not, seek out investing opportunities - that is, catching stock commodities with a potential to rise. That same approach is what I have adopted in my analysis of the following stocks; pay due attention to your risk exposure nonetheless!
ADS - D1 Timeframe
The daily timeframe chart of ADS (Adidas) shows the price currently trading within a consolidation channel that has now intersected the pivot zone. We can expect some pullback in the bullish momentum even though the overall direction remains bullish, as the moving averages imply. Based on this, I hope to catch a buying opportunity at the demand zone marked below since the demand zone has a confluence of the moving averages and the trendline support.
Analyst’s Expectations:
Direction: Bullish
Target: 186.13
Invalidation: 147.10
GOOGLE - D1 Timeframe
GOOGLE is ripe in time for a bullish rally. The price is resting above trendline support, which aligns with the 50-day moving average within an overall bullish trend. The point here is that all the factors favor a bullish continuation.
Analyst’s Expectations:
Direction: Bullish
Target: 123.41
Invalidation: 118.49
CITIGROUP - D1 Timeframe
CITIGROUP is another attractive ticker that seems stuck within a consolidation pattern. We currently have price slow-dancing around the moving averages with a likely bearish intent. The main focus here, however, is the demand zone at the Fibonacci levels and the support trendline that sits comfortably on top of it.
Analyst’s Expectations:
Direction: Bullish
Target: 48.03
Invalidation: 43.62
CONCLUSION
The trading of CFDs comes at a risk. Thus, to succeed, you have to manage risks properly. To avoid costly mistakes while you look to trade these opportunities, be sure to do your due diligence and manage your risk appropriately.
You can access more of such trade ideas and prompt market updates on the telegram channel.
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