Walmart is a great stock to buy and hold forever. Unfortunately, they are still way overvalued even after the COVID pullback. PE of 23 seems to support my opinion considering that I don't see any astronomical catalysts ahead.
Buy targets are $110, $84 and $64.
DJI seems to be holding the 20k mark pretty well. This was a level of resistance until what I call the "Trump Effect" entered. During this time stocks became severely overvalued due to optimism of our economic future after he got elected. Stocks went parabolic and entered a stage of euphoria.
I truly believe that this correction was imminent and needed to happen...
With a PE of 5.78 I'd like to think that the $55 range would become a strong level of support. However, strictly from a chart perspective the next level would be $27. I had to pull back to the 1990's to find that one.
Up until the panic of COVID-19 this was a solid company financially with year over year growth. If COVID-19 is a short term problem then this is a...
Nike has announced that they are choosing Colin Kaepernick as the new face of the Just Do It campaign. I anticipate a boycott of the brand and although I doubt this will hurt the Nike long term, it should slow down some of their sales in the U.S. short term. I've added lines of support.
I'm a big fan of Amazon but the stock is trading way too high above value for me to feel comfortable buying now. I'd like to see shares come down between the green lines. Note, I'm not saying that I believe this is going to happen. This is just what I am hoping for to enter into a long position.
I'm excited about the future of T-Mobile and have great respect for the leadership that John Legere has created. However, I believe the PE of 38.47 is way to high to be a buyer of the stock right now. My current buy targets (In Green) are between $58.50 and $61.73.
There's no doubt that Facebook ( $FB ) has become a "Must Buy" stock. Looking forward, I am extremely interested in their expansion into live video and believe it could very well catapult them even higher long term. If you don't own any shares then I don't necessarily disagree with opening up a starter position at any price. However, the chart seems to indicate...
Gun stocks are taking a hit following reports of slowing NICS background checks for the month of May. This created downward momentum which I believe is a buying opportunity for long term investors. $RGR remains my favorite in the firearm industry.
Green- Buy Target
Apple currently has downward momentum following their latest earnings miss and light guidance. This could very well bring them down to the two green buy targets. I remain bullish on Apple long term and will be buying.
JC Penney is a great speculative stock with fundamental reasons to support that a turnaround is in progress. It seems to have bottomed in 2014 and is slowly gaining momentum and swings wildly with optimistic and pessimistic pushes.
Overall, I like the stock but don't want to see it get out of hand in either direction. It's path of least resistance right now...
HIMX is up big along with the rest of VR related stocks due to the release of Oculus. I think it is way overbought at this point. HIMX may very well hover between $10 and $12 but I'd like to see it come back down around $9.25 and hold support.
Red- Resistance (Overbought)
Orange- Past resistance and potential new line of support
Green- Possible buy targets
I've been watching the stock since they broke below support last year. It seems to have become a new level of resistance. Green lines represent potential areas of support.
The stock is near 52 week high and PE of 32 is too high. I'd like to see a pullback towards the mid to low $20's for entry. Green lines are buy targets.
I'm a big fan of Sony ( $SNE ) long term but short term it looks like the path of least resistance is downward. 6 Month support of $30 has been broken. I'd really like to see a complete break down to the 1 year support line.
