Weekly market review from UTEX – week 22

Reporting season is over, but profits season is not! Last week we watched the market rise and waited for the NVIDIA (NVDA) report – it just blew up the market and took all indices well beyond local highs. The bank drama has settled down a bit, the debt ceiling has gone on the back burner until August. The positives are plentiful – the best time to trade U.S. stocks!

This week, the big macroeconomic news is coming up on Friday: waiting for the unemployment rate data. These numbers will indicate what to expect at the Fed meeting in two weeks.

Yes, we are sorry we missed last week's report. So today we’re sharing not five, but ten stocks worth trading!

Top 10 ideas to trade this week:

Workday (WDAY) – the stock did a great job of holding the gap after the quarterly report on Friday. There is every chance of a continued rise above $220.

Ulta Beauty (ULTA). Despite the market rally and a better-than-expected report, the stock slid down Friday. The price is down and falling to the nearest support, expecting >$400.

Costco Wholesale (COST). Friday's report was inspiring: a supertrend since the session's opening, closing in daily highs. For those who like tech analysis, the triangle on the daily chart is detected.

Dropbox (BOX). This data storage company reports today after the market closes. Note the very strong level of $28! If it breaks through, we will see great entry points all the way up to $30.

OKTA (OKTA) is one of the best stocks to trade this week. The company will report on Wednesday after the market opens. The potential, given the strong oversold market, is up to $120.

CrowdStrike (CRWD) – mentioned this cybersecurity company in a past report. Earnings expectations may already be in, but there could be surprises: the stock has been going great intraday. A must-trade!

Tesla (TSLA) is a company for chart lovers. The $200 level has been forming since February. In such a market, we assume a breakout and exit into the $220-$230 range by the end of the week.

Veeva Systems (VEEV). For the second quarter in a row, analysts are expecting a stronger report. Perhaps this time we'll see a full-fledged bounce from the level that's been trading since September (!), $160.

Palantir (PLTR). There aren't many large-cap companies that have nearly doubled in two weeks. It's definitely a candidate for a long-term portfolio after a pullback and consolidation, we're waiting.

Ethereum (ETH). Yes, there is no mistake. As a reminder, cryptocurrencies can be traded on our platform. Ethereum prices are very attractive right now: the nearest targets are $2200-2300.  

Profitable trades on UTEX to all!