Hot stocks in market through Technical Analysis
Last week, the market started poorly and slowly recovered over the week after several positive corporate earnings especially for the mega-cap growth stocks. The major indexes showed sign of rebound and regained some upwards momentum. Well, as highlighted in the topic, I'm going to share a few high risk stocks in market.
OXY
As we know, recently the oil price stays at high position. A serious escalation of tensions in the Middle East would push the price of oil above $100 a barrel and reverse the recent downward trend in global inflation. Let's look at the oil stock, OXY for example.
OXY daily chart
Similar to oil price, OXY stock remains at high level and rebounds after touching EMA25, the red coloured trendline. I believe $Occidental(OXY)$
High oil price is good for oil stocks. However, increase in cost of oil price could drive inflation up and force central banks to keep interest rates high.
COIN
How about crypto? The Bitcoin price surged above EMA200 in October last year, hitting a record high of over $73,000 in March this year.
Currently, the 200-day average, a key indicator of long-term trends, is increasing rapidly, signalling strong bullish momentum. As long as the price stands above EMA200, I maintain a positive outlook for Bitcoin trend.
COIN daily chart
If we look at one of the crypto related counters, COIN, the share price is well supported above 210 USD, which acts as the neckline support. The stock seems to struggle at its EMA50 blue coloured trendline but COIN is able to stand well above this level. With the Bitcoin halving events, I strongly believe Bitcoin will be bullish and similar to $Coinbase Global, Inc.(COIN)$
Rivian
Rivian's stock has been in free-fall the past few years. However, news recently reported that Amazon has become the largest private operator of EV charging stations in the U.S. Rivian is a provider of Amazon's electric delivery vans (EDVs). Amazon is looking to get to net zero emissions by 2040, and Rivian's EDVs are one of its keys to reaching that goal. This might be a potential stimulus for Rivian share price.
Rivian share price
Let's look at Rivian technical chart. The share price remains weak after broke down from the neckline support at around 10 USD. Yesterday, the stock seemed to join the rally of other EVs. However, I continue my $Rivian Automotive, Inc.(RIVN)$
SE
As aligned with my prediction last week, Sea stock experienced a wonderful surge in price after this Singapore-based internet services company received a pair of upgrades from analysts at Bank of America and Morgan Stanley. The competition is stabilizing for Sea's Shopee e-commerce business and its market share in Southeast Asia is very well defended.
Sea daily chart
The share price broke out above EMA 200 in early March and this support was retested 2 weeks ago, before the share price began into a new rally. The trend reversal is confirmed, so I strongly believe $Sea Ltd(SE)$
Disney
Disney collection of theme parks is nothing short of extraordinary, offering guests magical experiences all across the globe. From Walt Disney World in Florida to Shanghai Disney in China, guests are bound to have a magical time wherever they choose to visit.
Disney daily chart
Disney stock shows some real strength in 2024, with a significant gap up in early February after its earnings. The share price seems to hold well above this gap up, despite some pullback since early April. Anyway, everything looks pretty healthy and good for the share price right now. With the recovery of market sentiment, I do believe $Walt Disney(DIS)$
Any hot stocks you want to review technically? I can pick some famous one for analysis in incoming weeks if position. Hope you like my sharing and review, guys.
@TigerStars @CaptainTiger @MillionaireTiger @Tiger_comments @TigerGPT @Daily_Discussion
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Here is the technical analysis for some hot stocks in the market:
Apple Inc. (AAPL):
Business Overview: Apple is a multinational technology company that designs, manufactures, and sells consumer electronics, software, and online services.
Earnings Analysis: In the latest earnings report, Apple reported an EPS of $2.19 for Q1 2024, with a net profit margin of 28.36%. The forecasted EPS for FY 2024 is $6.54. The company's forecasted gross income for FY 2024 is $386.33 billion.
Trend Analysis: The stock price of Apple is currently at $169.30. The support price is $169.67, and the resistance price is $171.07. The average cost is $177.32. The stock has shown a positive capital flow in the past five days.
Valuation Analysis: Analysts have a mean target price of $199.15 for Apple stock, with a low estimate of $158.00 and a high estimate of $250.00. The analyst recommendation for the stock is 17 buy, 14 hold, and 2 underperform.
Tesla Inc. (TSLA):
Business Overview: Tesla is an electric vehicle and clean energy company that designs, manufactures, and sells electric vehicles, energy storage products, and solar energy products.
Earnings Analysis: In the latest earnings report, Tesla reported an EPS of $0.37 for Q1 2024, with a net profit margin of 5.30%. The forecasted EPS for FY 2024 is $2.59. The company's forecasted gross income for FY 2024 is $100.50 billion.
Trend Analysis: The stock price of Tesla is currently at $168.29. The support price is $167.50, and the resistance price is $170.40. The average cost is $180.10. The stock has shown a positive capital flow in the past five days.
Valuation Analysis: Analysts have a mean target price of $179.47 for Tesla stock, with a low estimate of $22.86 and a high estimate of $320.00. The analyst recommendation for the stock is 11 buy, 22 hold, 7 underperform, and 4 sell.
Amazon.com Inc. (AMZN):
Business Overview: Amazon is an e-commerce and cloud computing company that provides a wide range of products and services to customers worldwide.
Earnings Analysis: In the latest earnings report, Amazon reported an EPS of $1.03 for Q4 2023, with a net profit margin of 6.25%. The forecasted EPS for FY 2024 is $4.14. The company's forecasted gross income for FY 2024 is $641.17 billion.
Trend Analysis: The stock price of Amazon is currently at $179.62. The support price is $169.02, and the resistance price is $174.72. The average cost is $171.37. The stock has shown a positive capital flow in the past five days.
Valuation Analysis: Analysts have a mean target price of $212.71 for Amazon stock, with a low estimate of $160.00 and a high estimate of $238.00. The analyst recommendation for the stock is 40 buy and 2 hold.
Please note that the above analysis is based on technical indicators and historical data. It is important to conduct thorough research and consider other factors before making any investment decisions. The information provided should not be considered as investment advice.
Let me know if you would like to review any other stocks.
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