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3 Stocks That May Breakout This Week

Benzinga2021-05-18

Exxon Mobil Corporation (NYSE:XOM), Procter & Gamble Company (NYSE:PG) and Coca-Cola Company (NYSE:KO) may be about to break out.

The technology sector has been in a steep sell-off. As this happens, a lot of the money coming out of it is flowing into different sectors.

Two of the sectors are energy and consumer staples. Energy stocks are used by investors as inflation hedges, and consumer staples companies will still sell their products even in a week economy.

Resistance is a large group of sellers who are all trying to get the same price. At resistance levels, there is more supply than demand for shares. Buyers can acquire all the shares they need to. There is no fear of pushing the price higher and this is why rallies end when they hit resistance.

But when the stock trades and holds above the resistance level, it means the sellers have finished. The resistance has been broken. With this large amount of supply off of the market, buyers will need to pay higher prices. This is what causes a rally.

If the following resistance levels break, these stocks could make big moves upwards.

PG has run into resistance at the $138 level.

For Coca-Cola, the resistance has been at $54.50.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Comment9

  • BruceLyy
    ·2021-05-18
    Coca cola gogogo
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  • VictorTan
    ·2021-05-18
    Nice
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  • JCKL488
    ·2021-05-18
    Exxon, you kidding me ?
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  • Andreatwn
    ·2021-05-18
    This was much needed [Tongue] 
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  • edamame
    ·2021-05-18
    Aiya KO still ex how to buy 
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  • AppleMango
    ·2021-05-18
    Let see 
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  • st00
    ·2021-05-18
    good vibes
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  • leoooooooooo
    ·2021-05-18
    nah. I'll pass.
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  • leoooooooooo
    ·2021-05-18
    nah, no time to play games w these hedge and mutual fund managers. I'll Pass.
    Reply
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