Stock Trends
Software trades, favorite healthcare longs, and yes... Nvidia
Good morning,
Everybody will be focused on Nvidia today, but at least in the premarket, the reaction looks like any other trading day.
We’ll quickly cover that toward the end, but the best places to make money are usually away from where everyone else is looking.
Today’s report will cover:
Short-term trades in software
My favorite long ideas in healthcare
Two materials buys from the Base Finder
Solar stocks
Hot List updates
and more!
Software trades
I’m a trender not a trader but after another flush early in the week, software is more attractive, even if it is likely very early in the bottoming process. Below are a few short-term trade ideas, that could turn into more durable bottoms. That part is TBD.
Microsoft wants to break this downtrend line
New price lows this week, but RSI momentum didn’t confirm, and the daily MACD just turned positive. We’re also holding a longer-term support zone, so a break of the red downtrend line, and I could see MSFT running to $430.
Oracle didn’t break to new lows
Oracle was a potential bottom-fishing opportunity highlighted in Overtime: Software, primarily because it was bouncing off dual long-term support lines. The chart has only gotten more interesting since, holding the February 5 lows (unlike IGV) and adding a bullish momentum divergence.
Daily reversal confirmed in Autodesk
