Market review from UTEX – week 7

The market hardly moved at all during the week. It was up until Friday when Trump announced he was going to impose tariffs on other countries this week.

Palantir soared 34% after the report! Super Micro Computer announced that it will release its long-awaited report on February 11, thus avoiding delisting from the Nasdaq (+27%). Affirm, Pinterest, and Cloudflare also performed well, each up over 20%.

According to Goldman Sachs, hedge funds actively bought shares of US technology companies last week. The information technology sector was the largest net buy for the week, the highest since December 2021, thanks to shorts closing and new purchases.

Bitcoin has been in the $90,000 to $110,000 range since December. From the lower boundary is clearly buying, closer to the upper boundary on the contrary sell. At the moment it is trading around $96,000.

On Wednesday and Thursday we are waiting for the data on consumer and industrial inflation for January, on which the Fed often relies.

Already 62% of the SP500 companies have reported. 77% of them beat earnings per share expectations, that's on par with the 5-year average.

Up ahead are interesting results from Shopify, Robinhood, Coinbase, DataDog, Reddit and the “old folks” – Coca-Cola, McDonald's, Cisco Systems.

Top 5 ideas for trading this week

🔴 Datadog (DOOG). Report on Feb. 13 before the open. Cloud application monitoring and analytics platform. Nice support at $135 on the chart, which has been a resistance level for a long time. Could be worth a try for the mid-term.

🟡 Robinhood (HOOD). Report on Feb. 12 after the close. Oct. 30 recommended it as a long-term idea. The stock is up 123% for the quarter. Has every chance to go higher, but would really like lower prices to buy in like in Roblox.

🟡 Cisco Systems (Cisco). Report on February 12 after the close. Similar situation on HOOD – want to buy at better prices. But there is good support around $57-$58 to push off from. Former strong resistance levels at 2019 and 2023.

🔴 Astera Labs (ALAB). Report on Feb. 10 after the close. Semiconductor company that went public last year. Got to almost $150, then bounced back to $80, now trading around $100. A gap up after the report and a strong intraday move is very likely. As for the mid-term, there is enough potential too.

🔴 Reddit (RDDT). Report on Feb. 12 after the close. The company was at $80 before the last report and is now at $225. We don't suggest buying at the highs, but there's plenty of air in the stock. RDDT is volatile, especially on the report. For those who like to trade on reports, volatile and expensive stocks.

Profitable trades!

[button label="Trade on UTEX" url="https://margin.utex.io/stocks-usdt/exchange?utm_medium=website&utm_source= utmedia_en&utm_campaign=post"]