Market review from UTEX – week 36

Five ideas for trading this short week

On Monday America celebrated Labor Day and the markets were closed. Activity is slowly returning, so it's time to cheer up after the vacation season and get back to the trading terminal.

Top 5 stocks this week

UiPath (PATH). The business automation platform reports on September 6th after the markets close. On the chart, we see a long range after falling from $70. If the company shows good results, the current price of $15 is a good point for the mid-term.

GitLab (GTLB). The software provider reports today after the market close. GitLab is one of the many tech companies that IPO'd in 2021 and sagged the following year. Unlike the others, it didn't fold at 10-15x, but trades at about 1/2 the capitalization from the IPO. The chart is headed for growth, but it all depends on the numbers in the report. 

GameStop (GME) – September 6th post-close report. Everyone remembers the crazy year of 2021 when speculators drove the stock skyward and back up several times. In 2022 and 2023, the amplitude has gradually decreased, though it makes sense to follow GME stock on the report. The direction of the move is unpredictable, much will be revealed premarket. 

DocuSign (DOCU). The leading digital document management company reports on Sept. 7, after the market close. Like many companies in the sector, DocuSign has been flat for about a year. Since March 2023, there has been a clear support level around $47. If it holds after the report, we can think about buying. If the report disappoints, a short may be possible below this level. 

RH (RH). The furnishings retailer has lost half of its capitalization for 2022. The stock appears to have hit a bottom around $240 per share, has broken out of the range, and is trying to consolidate above $350. The company reports on Sept. 7th after the close. If the report is positive, RH could move back to the $700 mark. Idea for the mid-term.

Profitable trades!

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