Market review from UTEX – week 48
The main US indices are preparing to break through historical highs. Here are five trading ideas!
During the short last week indices grew by another 1%. Analysts are competing in their positive forecasts and agree that the end of 2023 and 2024 will be successful for the markets. Large investors have accumulated record amounts of cash in funds. Risk appetite is waking up, which means this money will flow into the market and the rally will continue.
Traditional top 5 stocks of the coming week
Foot Locker (FL). The big seller of sportswear and footwear will report on Wednesday before the markets open. The stock has lost 35% year-to-date, and current prices are reasonable for the mid-term.
Dell Technologies (DELL) is a software developer and IT hardware manufacturer. Unlike FL, DELL shares have been growing all year and have added 70% in price. Profit taking is not excluded, but we don't recommend shorting now. The company will report on Thursday after the close.
Okta (OKTA) is a provider of identity data for businesses. This stock is particularly volatile on reports. Strong support at $65. Anything above that is a long. The report will be released on 29 November after the close.
Dollar Tree (DLTR). The fixed-price chain will release a report on Wednesday before the open. On the daily, it's a good entry point for a long, but it's better to wait for the premarket.
Crowdstrike Holdings (CRWD). The cybersecurity company will report tomorrow after the close. The chart is strictly long.
Have a good trade!
