Market review from UTEX – week 47
The S&P 500 is 10 points away from an all-time high, and thanks to optimism in the market, breaking through seems to be a matter of course. What to trade in the coming days?
The main US indices closed last week in the plus again, adding 2%.
Tuesday at 2:00 pm NY will see the release of FOMC Meeting Minutes. The earning season is coming to an end, here are the traditional top 5 stocks to trade.
Zoom Video Communications (ZM). The developer of videoconference software will report today after the markets close. Strong support at the $60 level. Much will become clear in the post- and pre-market.
Baidu (BIDU) is the leader among Chinese search engines. The report will be released on 21 November before the open. Anything above $100 a share is a buy.
Dicks Sporting Goods (DKS), a chain of sporting goods shops will also release results on Tuesday before the open. A good buying pattern has developed on the daily chart if the company doesn't let the report down.
Deere & Co (DE). The agricultural equipment manufacturer will release a report on Wednesday before the market opens. It's hard to draw conclusions from the daily chart, better to look at the facts with the premarket in mind.
Abercrombie & Fitch (ANF), the American casual clothing brand will report on 21 November before opening. The company's shares have grown 300% over the year! Perhaps market participants will be taking profits. ANF is small-capitalised and the markets are positive – be careful with shorts.
Good trades, everyone!
