Weekly market review from UTEX – week 24

The rally in the market continues as the S&P 500, Nasdaq 100, and Dow Jones all closed on the upside last week. High-tech companies are going up without a hitch – as if there was no crisis at all! The perfect time for trading. But remember the risks and stay focused. 

This week the inflation data will be published and awaited Fed meeting will be held, the results of which will be known on Wednesday. There should be no surprises – we expect the regulator to pause in rate hike cycle. 

Traders, here's another weekly pick of trading ideas for you!

Top 5 stocks for this week:

Vroom (VRM). The company is way behind its main competitor, Carvana, where good earnings are projected. The sector appears to be getting better. With the strongest oversold, the potential is about 50%. The trade is medium-term, be careful with the leverage. 

Lennar (LEN) will release its report on Wednesday after the close. Given the sector's good position and proximity to historical highs, expect a breakout beyond the $120+ level.

Oracle (ORCL) – great report on Monday and the same trading session. All chances for continued growth in the coming days at $130+.

Coinbase (COIN). This is the third time the company has appeared in our reviews. The problems with regulators may both worsen and recede into the background if cryptocurrency lawyers defend their position in court. Volatility is expected to be very high, so keep abreast.

Adobe (ADBE). The company broke into the hype artificial intelligence sector. Most likely, there will be some good surprises for us. The growth potential is huge, get ready!

Have a good week and successful trades!