Market review from UTEX – week 43

The main US indices have been positive for six weeks, but have only risen by a little. United Airlines, Netflix and Taiwan Semiconductor did well. 

Bitcoin is up 10% in seven days, approaching $70,000, with Coinbase shares rising.

The main disappointment of the previous week was the report of ASML Holding.

The correction continues in the shares of Chinese companies after a rapid growth: NIO, PDD Holdings, Alibaba Group.

This week, we'll be looking at Tesla, GE Aerospace, Coca-Cola, Boeing, IBM and General Motors.

Top 5 ideas to trade this week

Boeing (BA). Reported before the open on 23 October. Since the beginning of the year, the aerospace company's shares have fallen from $260 to $155. There has been a lot of bad news about the company recently. But Boeing and union leaders have reached a new tentative agreement. It could end the strike that has halted production of the 737 MAX and 777 aircraft and includes a 35 per cent pay rise over four years. Workers will vote on the new proposal on Wednesday and the company will report back before the market opens the same day. The current price makes it a good long-term buy. 

Tesla (TSLA). Report on 23 October after the close. The robotaxi presentation did not impress investors and was not a factor in the explosive growth. On the other hand, minus 10% in one month is normal volatility for Tesla. As always, the stock is unpredictable on the report, but strong moves inside are sure. 

United Parcel Service (UPS). An express delivery and logistics company. Reports before the open on 24 October. A strong support level of $125 has been in place since the end of July from which to push higher in the medium term.

General Motors (GM). Report on 22 October before the open. The carmaker's shares are up 66% over the year, but they hit resistance at $50 at the end of July and haven't been able to break through. There have been three unsuccessful attempts in three months, and the fourth is about to happen: before tomorrow's report, the price stopped at $49. It's as if the puzzle had been put together before the collapse, but it's better to wait for the next one.

RTX Corporation (RTX). Reported on 22 October before opening. Lockheed Martin (LMT). Announced 22 October before opening. Northrop Grumman (NOC). Reported on 24 October before opening. Three military contractors, all up more than 20% for the quarter. The Aerospace & Defence sector is traditionally favoured by Republicans and we expect increased volatility ahead of the election. Intraday for experienced traders only.

Stocks from the post can be found in the “Top” section.