Market review from UTEX – week 16

Major US indices closed down: SPY -1.5%, Nasdaq -0.5%. The main reason for the decline is the tense geopolitical situation in the Middle East. Last week also saw the largest weekly outflow from US blue chips since December 2022.

Against this background, Bitcoin's price went to almost $60,000, but it again steadied. BTC is now trading at $66,000.

On Tuesday, Jerome Powell will give a speech, and on Thursday, US statistics on secondary market home sales will be released.

The new earning season is quickly gearing up. Here are five ideas for interesting trading.

ASML Holding (ASML). Report on 17 April before the open. The Netherlands-based company is a manufacturer of lithography equipment needed to make microchips. If it doesn't hold the $900 level, a correction is likely.

Netflix (NFLX). Report on 18 April after the close. Shares of the streaming service are up 90% in six months. Not much left to the all-time highs. High probability of a 10% gap to either side.

Taiwan Semiconductor Manufacturing Company (TSM). Report on 18 April before the open. One of the largest chip makers. Support at $135. We believe growth will continue amid strong demand for semiconductors. 

Johnson & Johnson (JNJ). Report on 16 April before the open. The stock is down 10% over the past year. Support level at $145, mid-term long.

American Express (AXP). Report on 19 April before the open. Shares of the payment system have been in an uptrend for six months. Another candidate for a correction.

Profitable trades!