Weekly market review – week 43
The main American indices closed last week in the negative, and there is a feeling that the limit has not been reached. Against this background, the Netflix report stood out, adding 12% for the week.
Much will depend on how the giants will report this week: Microsoft, Alphabet, Meta, Amazon and Exxon Mobil. If they report strong results, the market may perk up, but for now the initiative is in the hands of the bears. VXX is at its highest levels since mid-August, the situation is extremely tense, and if investors' nerves give up, the market may start to sell off.
There will be a plenty of reports, there is a lot of work to do.
Traditional top 5 for trading:
Robert Half (RHI). The consulting firm will report on Tuesday after the markets close. Traditionally goes well on reports, no increased volatility and relatively clean. Let's hope it doesn't fail this time around, too.
Whirlpool (WHR), maker of home appliances. There is strong support at $125 on the daily chart. If it goes below that level, there's a good chance we'll see the $100 mark soon. Report on the 25th after the close.
Ryder System (R). A transportation and logistics company founded 90 years ago. Is near all-time highs. Since the company's capitalization is small, it could shoot up on good performance. On the other hand, the market is favorable to take profits at such levels. Already Wednesday's premarket will give answers to these questions.
Hershey (HSY). Confectionery company. It is interesting on the level of dailies first of all. In the last six months it has fallen by 25%, and there is a high chance of closing shorts even in case of a bad report. It reports on Thursday before the open.
Harley-Davidson (HOG), maker of a well-known motorcycle brand. Support at $30. It's hard to predict where it will go, it often makes good moves on the day of the report, but on other days it's better not to trade. We make a note for Thursday after the opening.
Everybody have patience and successful trading!
