Market review from UTEX – week 48
The market has returned to growth. Five trading ideas for the week.
The main US indices added a little over 1.5%. Tesla and Netflix added about 10%. Among the smaller capitalization companies, Super Micro Computer rebounded by 70% and Snowflake rose by 32% immediately after the report. Among the strong falls, let's highlight Target (-17%) and PDD Holdings (-12%).
Bitcoin failed to test $100,000 and is consolidating around $98,000 for now.
There's a shortened week ahead: on Thursday, the US celebrates Thanksgiving and markets will be closed. On Friday, the market will close 3 hours earlier, at 01:00 p. m. EST. Due to the holidays, the market may be more unpredictable, so we advise even more thoughtful approach to trades.
Top 5 stocks to trade this week
Semtech (SMTC). Report on Nov. 25 after the close. Small-cap semiconductor component maker. If there's a good report, could shoot up 10% or more right away. That's the kind of thing people are buying right now.
Dell Technologies (DELL). Report on Nov. 26 after the close. IT equipment manufacturer and software developer. The stock showed +30% for the quarter, but it's still a long way off its all-time highs ($180). Still acceptable to buy for now. If (when) DELL gets to those levels, we'll revisit the idea.
CrowdStrike (CRWD). Report on Nov. 26 after the close. The cybersecurity company spent six months recovering from the Windows outage. Now the stock has rebounded, heading to its highs at $400. If it breaks through, buy and hold.
Workday (WDAY). Report on Nov. 26 after the close. Provider of enterprise cloud-based financial and human resource management apps. Expensive stock. There were strong bounces after the last two reports. A repeat is possible. For fans of gap trading.
Ambarella (AMBA). Report on Nov. 26 after the close. The company creates chips for video cameras and computer vision. Very heavy and volatile stock intraday – most traders lose money here. Patterns don't work, direction is unpredictable, but there is always movement. It may make sense to try mid-term. For example, long at $65, stop $55, target $100, at least.
Bonus idea that will cut your losses: halve your volume and loss limit. There will still be a lot of interesting ideas on the market, but not this week. Keep your deposits safe.
Successful trades!
