Stock Trends
Hard calls on hot stocks
Good morning,
Today’s Stock Trends is going to look a little different, and it’s a bit of a throwback to our original title: The good, the bad, and the ugly.
We aren’t going to organize things like that, but today I’m taking a look at the biggest, most important, and frankly just most talked-about stocks and sorting them into hard calls based on how I see the charts.
Sometimes, the technicals don’t give you a strong read, but we’re going to take a look at all the Mag 7 stocks, memory names, and much more, and bucket them into:
Buys right now
Bullish bias - stay long if you own it
No reason to own it - not a short or outright sell, but I don’t see a compelling reason to own the stock
Outright sells
We’ll start with our tactical buys and also end with a few Hot List updates.
Buys right now
JPM: JPMorgan Chase
JPM reported earnings on Tuesday and has broken out to new all-time highs. This base measures to $396, and the stock is breaking out in relative terms as well.
GS: Goldman Sachs
Goldman also reported earnings Tuesday morning and is breaking out of a base-on-base. It’s at 52-week relative highs and printing a daily MACD buy signal.
HOOD: Robinhood
