Market review from UTEX – week 14
Reporting season is coming to an end. Here are five trading ideas!
The movement of major US indices was insignificant last week. The volatility of the companies that recently held IPOs – Reddit and Astera Labs – was encouraging.
Bitcoin has been consolidating in the $68,000–$72,000 range for seven days now. BTC is likely to break out of this corridor soon, but it's unclear which way it will go.
On Friday we expect important economic data: unemployment rate, average hourly wage, economically active population share, consumer credit index.
Reporting season is almost over. As tradition, we have selected five interesting trading ideas for you.
PVH (PVH). Report on 1 April after the close. Shares of the owner of Calvin Klein and Tommy Hilfiger have added 90% in six months. A correction is possible; the company has yet to break its all-time high.
Paychex (PAYX). Report on 2 April before the open. The company offers human resources and payroll software. PAYX stock has been trading in a $117–$125 channel for three months. Above $125, you can start buying for the mid-term.
Levi Strauss & Co. (LEVI). Reporting 3 April after the close. Shares of the denim brand were unable to get out of the downtrend from mid-2021 to mid-2023, but are up 50% in the last six months. There is every chance for continued upside. Support is $18.
Acuity Brands (AYI). Report on 3 April before the open. Lighting equipment manufacturer. Since October 2023, the stock has risen from $160 to $260, with an all-time high around $280. A correction is likely, but be careful with shorts.
Lamb Weston Holdings (LW). Report on 4 April before the open. Manufacturer of frozen french fries and other potato products. Strong support in the $100 area. If it holds and doesn't open lower, long with a stop over the level.
Profitable trades!
