MNST is trading between its support and resistance level since the beginning Nov 2022. I guess it can not break the resistance level and going to test its support level at 98s. Also, this stock has huge P/E ratio
BAC and GS are the most oversold financial stocks . I see that BAC finds some support on moving averages and 3 MAs are crossed at the same price. this could be a buy signal for the long term and bac will test its December high or even go up. if not I think it will consolidate at moving averages.
I see the double top pattern on ORCL also I think ORCL is overpriced it is uptrend since the beginning Oct 2022. also, the stocks' mean P/E ratio is about 20 now it is almost 30s. for these reasons, I am bearish on ORCL. I want to move opposite side I think the stock needed consolidation and then bounced up.
I have no exact idea about this stock. it could move in either direction as it is holding - in the middle of both 20EMA&50MA. this is one of the best stocks to add watchlist but not opened a position yet. I will be back to this stock mid-next week after see monthly close on it
since the beginning of 2023, 50 SMA and 20 EMA are strong support levels for this underlying. The stock moved much before earnings and I guess due to iv% there were no big price movements on HAL. I think it could retest Jun 2022 highs. if it fails to hold that level we could see HAL at 35s.
I am bullish on this stock there are some reasons for it. As I see there is a nice uptrend as moving averages supported it. this week stock tested its 20 EMA and did not break it down. I guess as soon as the price stay above moving averages it could bounce up.
It seems that the weight of stocks in the S&P500 stocks moving averages above 20 days peaked. I assume that SPX will fall to make the new bottom. While thanksgiving this week there should be sideways. this strategy could work next week