Market review from UTEX – week 20
Toncoin is up, Bitcoin and Tesla are down. What to trade?
The main US indices added about 2% over the week. Among the giants, Taiwan Semiconductor, Netflix and Meta added 5% each. Tesla shares, on the contrary, sagged by 7%.
Bitcoin corrected from $65,000 to $62,800. Of the altcoins, Toncoin is showing good weekly gains, +22%!
Fed Chairman Powell will speak on Tuesday, and on Wednesday the consumer inflation data for April will be released.
Although most companies have already reported for the quarter, the main intrigue remains – next week NVIDIA will publish its results. All market participants are waiting for this report with great interest.
Chinese giants and GTA owner – top 5 stocks this week.
Alibaba (BABA). Report on May 14 before the open. The Chinese company that owns AliExpress, Taobao.com, Tmall and Alibaba.com. The report is particularly interesting amid a rebound in Chinese stocks and investment inflows for the quarter. The stock has been in a $68–$77 range for six months. BABA has now broken out of the upper range and is trading at $80. Two other major Chinese companies will report before the open on Thursday, JD.com and Baidu Inc.
Cisco Systems (CSCO) will report on May 15 after the close. The company designs and sells networking equipment. The stock is trading at $48, not far from its yearly low of $45.70. Mid-term with a stop beyond that level.
Take-Two Interactive (TTWO). Report on May 16 after the close. U.S. computer game developer. TTWO owns Rockstar Games, 2K, Private Division, Ghost Story Games, and Socialpoint. There has been a positive trend since the beginning of 2023, but the last report was disappointing. The stock is now trading at the same levels it was six months ago.
Dynatrace (DT). Report on May 15 before the open. The company offers artificial intelligence software to detect and analyze problems in business applications. Another mid-term idea. The stock is trading near the $43–$44 support level. If it goes lower, a sell-off could begin. Target $60–$65.
Deere & Co. (DE). Report on May 16 before the open. Machinery company that makes farm and construction equipment. Expensive, but you can see how other companies in this sector, Caterpillar (CAT), Paccar (PCAR), AGCO (AGCO), behave on the day of the report.
Profitable trading!
