In my confession, I provided several sources where different countries reacted the same way when handling a chaotic situation like the Covid-19.
So, in chaos, there is always opportunities if you know where to look for it.
Already, groceries retailer are deemed as recession proof business. Regardless of how the economy performs, people will still need the basic necessities to survive. It is in a chaotic situation like Covid-19 that the buying frenzy gets out of hand. That drives insane sales to its outlets , stripping supplies out of the shelves faster than it can be replenished.
At $69, it was a great buying opportunity to get into Loblaw. It is now facing some resistance at 72.46 and I expect it to be broken up quickly to revisit its previous peak at 76.29. So, there you go, a $7 profit target opportunity.
Alternatively, if you prefer to zoom into a particular stock item, I have also provided my analysis here on another great company, Kimberly Clark.
So, in chaos, there is always opportunities if you know where to look for it.
Already, groceries retailer are deemed as recession proof business. Regardless of how the economy performs, people will still need the basic necessities to survive. It is in a chaotic situation like Covid-19 that the buying frenzy gets out of hand. That drives insane sales to its outlets , stripping supplies out of the shelves faster than it can be replenished.
At $69, it was a great buying opportunity to get into Loblaw. It is now facing some resistance at 72.46 and I expect it to be broken up quickly to revisit its previous peak at 76.29. So, there you go, a $7 profit target opportunity.
Alternatively, if you prefer to zoom into a particular stock item, I have also provided my analysis here on another great company, Kimberly Clark.
Comment:
Oops, it went the other way.