Technical Review of Hot Stocks š„š„š„
Today, let's look into a few hot counters in market, through their recent market news and also technical chart review.
COIN
The recent downtrend can be attributed to increased profit-taking by investors who entered the market during the downturns of 2022 and 2023, as well as ETF investors who witnessed significant price appreciation on their shares after entering the market in the early weeks of 2024.
On the macro front, the Federal Open Market Committee (FOMC) is not expected to make any changes to interest rates, but the view is taking root among investors that the central bank may not cut rates at all this year, delivering a blow to interest rate-sensitive assets such as cryptocurrencies, emerging market stocks and bonds or even commodities.
COIN daily chart
COIN share price retraced recently following the bearish sentiment of Bitcoin. However, it seems like both the Bitcoin and Coin prices start to consolidate and after last night Wall Street party, I believe crypto will regain the positive sentiment and momentum for incoming weeks. I would expect a bullish descending triangle breakout in this case for $Coinbase Global, Inc.(COIN)$
SE
Southeast Asian tech giant Sea Limited on Monday posted its first profitable year amid efforts to defend market share against Alibaba-owned Lazada and TikTok.
Net income in 2023 was $162.7 million, as compared to a net loss of 1.7 billion USD in 2022. There was a net loss of 111.6 million USD in the fourth quarter of 2023, as compared to net income of 422.8 million USD in the same period a year ago.
SE daily chart
As we can see from the chart above, very healthy and bullish uptrend pattern formed in SE chart. Nothing to worry much for such chart, just hold and wait the stock to go higher and higher $Sea Ltd(SE)$ . For those with concern, you may choose to unload and lock profit before its earnings to avoid any bomb š£ š„ after earnings.
OXY
Oil has dropped about 10% from a five-month high in mid-April as the fallout from Iran's unprecedented attack on Israel remained limited. A surprise jump in US crude inventories on Wednesday sparked a drop in futures, adding to concerns about demand from top importer China and weakness in product markets including diesel and gasoline.
OXY daily chart
For $Occidental(OXY)$
RBLX
Roblox is rolling out virtual billboards with video advertisements, the gaming platform said on last Wednesday, in its latest move to draw revenue from its games that are mostly free to play.
That would give advertisers access to Roblox's nearly 72 million daily active users, half of whom are Gen-Z customers, a population group prized by marketers and businesses.
Roblox daily chart
For Roblox, positive news technically as the share price stands back to EMA200 last night! This is a bullish sign for the stock, moreover the EMA10 and EMA25 begin to curve upwards. Everything is ready for an uptrend $Roblox Corporation(RBLX)$
NFLX
Few weeks ago, it's surprising that the stock fell after an impressive quarter. Although the company disappointed investors by stating it would stop disclosing subscriber numbers, the selloff was unwarranted.
Indeed, everything else about Q1 2024 results was stellar. Netflix remains the number one entertainment company, reporting 269.6 million subscribers. The streamer blew past Wall Street's subscriber estimates, adding 9.33 million subscribers, almost double the 4.9 million expected.
Netflix daily chart
Netflix share price finds its short term support recently. A bottoming pattern is found at around 547 USD. This week, the stock starts to curve upwards, challenging the next resistance at 605 USD. For such, I am $Netflix(NFLX)$
Which hot stocks mentioned above you like? Do you own any of them? Come and share your strategies with us, guys!
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COIN (Coinbase Global, Inc.)
Business and Industry: Coinbase Global, Inc. is a leading cryptocurrency exchange platform. The company operates a platform that allows users to buy, sell, and store various cryptocurrencies. The cryptocurrency industry is expected to continue growing in the future as digital assets gain more mainstream adoption and acceptance.
Earnings Analysis: According to the latest earnings data, Coinbase Global, Inc. reported an EPS of $1.14 in the fourth quarter of 2023, with a net profit margin of 30.23%. The company's earnings forecast for the fiscal year 2024 is an EPS of $3.81, with a forecasted gross income of $5.12 billion and a forecasted EBIT of $1.29 billion. Looking ahead, the earnings forecast for 2025 and 2026 shows continued growth in EPS, gross income, and EBIT.
Trend Analysis: The recent downtrend in COIN's share price can be attributed to profit-taking by investors who entered the market during the downturns of 2022 and 2023. However, the share price has started to consolidate, and there is a possibility of a bullish descending triangle breakout. The current support price is around $192.51, and the resistance price is around $229.51.
Analyst Viewpoints: Analysts have provided a target price range for COIN. The mean target estimate is $251.97, with a low estimate of $110.00 and a high estimate of $450.00. It is important to note that these target prices are based on analysts' opinions and forecasts.
Risk Disclaimer: The above analysis is for informational purposes only and should not be considered as investment advice. Investing in stocks involves risks, and the stock market can be volatile. It is important to conduct thorough research and analysis and consider your own risk tolerance before making any investment decisions.
NFLX (Netflix)
Business and Industry: Netflix is a leading entertainment company that provides streaming services for movies, TV shows, and other video content. The company has a large subscriber base and continues to dominate the streaming industry. The entertainment industry is expected to grow as more consumers shift towards digital streaming platforms.
Earnings Analysis: Netflix reported impressive results in the first quarter of 2024, with an EPS of $5.40 and a net profit margin of 24.89%. The company added 9.33 million subscribers, surpassing Wall Street's estimates. The earnings forecast for the fiscal year 2024 is an EPS of $18.44, with a forecasted gross income of $38.70 billion and a forecasted EBIT of $9.72 billion. The earnings forecast for 2025 and 2026 shows further growth in EPS, gross income, and EBIT.
Trend Analysis: NFLX's share price has recently found short-term support around $547. The stock has started to curve upwards and is challenging the next resistance at $605. The current stock price is $579.34.
Analyst Viewpoints: Analysts have provided a target price range for NFLX. The mean target estimate is $645.11, with a low estimate of $446.00 and a high estimate of $800.00. It is important to consider these target prices in conjunction with your own investment strategy and risk tolerance.
Risk Disclaimer: The above analysis is for informational purposes only and should not be considered as investment advice. Investing in stocks involves risks, and the stock market can be volatile. It is important to conduct thorough research and analysis and consider your own risk tolerance before making any investment decisions.
Please note that the information provided above is based on historical data and analyst forecasts, and it is important to conduct your own research and analysis before making any investment decisions. Investing in stocks involves risks, and the stock market can be unpredictable. Always consider your own risk tolerance and consult with a financial advisor if needed.