Market review from UTEX — week 12

SPY and Nasdaq lost more than 2%. Among large companies, Apple (-10%), Teradyne (-20%), Coinbase (-15%) and Adobe (-11%) fell the most.

Some positive news — NVIDIA rebounded by 8%, Rubrik reported well and added 23%, Intel rose by 16% after the change of CEO.

Bitcoin found a new range, $78,000–$85,000, where it has been trading for the last 7 days. Toncoin is up 25% after Durov was allowed to leave France.

The Fed will meet on Wednesday to make a rate decision. According to CME FedWatch, there is a 99% chance the rate will remain unchanged.

Traditionally, intraday trading is difficult in the days before the meeting. We recommend to be careful in your trades until Wednesday.

Top 5 ideas for trading this week

🟢 NIO (NIO). Report on March 21 before the open. Chinese companies have been feeling better than the market since the beginning of the year. Might be worth a closer look for the mid-term. 

🟡 Micron Technology (MU). Report on March 20 after the close. Maker of computer memory and storage systems. Strong support at $85, now trading around $100, all-time high at $157.

🔴 KE Holdings (BEKE). Reported on March 18 before the open. Chinese platform headquartered in Beijing for residential transactions and services. Can't get a foothold above $25 since late 2021, but if it succeeds this time, could be a nice move. Risks are high.

🟡 Jabil (JBL). The US electronics maker's stock has pulled back from its highs by 20% in a month, and prices are already quite attractive.

🟡 Nike (NKE). Report on March 20 after the close. Lost 30% of its capitalization for the year. It seems the bottom is near, but there is no rush to buy, it's better to wait for the report. Now trades around $72, the minimums this year were at $68.6. At the end of February, the company received an upgrade from Jefferies to Buy and a target price increase from $75 to $115.

Trade what works best for you:

🔴 high risk, for the pros;

🟡 medium risk, for traders with little experience;

🟢 low risk, suitable for beginners.

Profitable trades!

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