Market review from UTEX – week 49
Indices are rising, Bitcoin at $41,000. What to trade?
The S&P 500 added 1% over the past week. This is the fifth positive week in the US market and during this time the major indices have gained 10%!
Bitcoin has broken out of its range and is trading above $41,000. Risk appetite is on the rise, hope for a continued rally in both stocks and crypto.
Top 5 stocks this week
Campbell Soup (CPB). Shares of the largest canned soup maker have dropped 25% year-to-date. With the market near all-time highs, these are great prices for the mid-term. However, the price has been sideways $38–$41 over the past month. Therefore, it's better to wait for Wednesday's report before the market opens.
Thor Industries (THO). The makers of residential RVs will report on Wednesday before the open. This stock usually moves well on reports. Near-term support at $100 a share, shorting is not recommended.
GameStop (GME). The very same computer game retailer surprised with volatility last week. It's impossible to predict where the price will go after the report, but it won't be boring. We'll find out on Wednesday after the close.
C3.ai (AI) is a developer of an enterprise AI platform. Undercapitalised, booming AI and reasonably priced for a mid-term buy. Report Wednesday after the close.
DocuSign (DOCU). The digital signature platform will report Thursday after market close. The stock is up 18% for the month after a long downtrend. There's a good chance the company will continue to rise after the report.
Profitable trades!
