Chart of the Day: Meta Platforms (META)
Meta Platforms (META) was crushed the other day on ad spending in the fourth quarter. However, it now appears the pullback is a bit overdone. Even analysts like Wedbush Securities' Dan Ives see the pullback as an opportunity, noting, "I believe this tech sell-off here, [when] we look back three, six months, I view this as more of a golden opportunity, not the time [for Meta] to head into hibernation mode," as quoted by CNBC.
...Read MoreLOGI: Gaining Serious Momentum
Yesterday, we looked at a Monthly Price chart of CrowdStrike Holdings, Inc., noting that CRWD's 1-Month Price is trading above the 10-Month SMA signaling a 'Buy'.
For today's Trade of the Day e-letter we will be looking at a Moving Average Convergence/ Divergence (MACD) chart for Logitech International S.A., stock symbol: LOGI.
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Bonds? Semiconductors? Where Is The Next Trade Hiding?
Finding the right signals will give me all the confidence in the world, and simultaneously, it will define my risk before I enter a trade.
I always look for signs that the market may collapse, but also signs that it may recover. Having an open mind is what helps improve returns and prevent major biases that hurts risk management.
...Read MoreThese Dips Are Buying Opportunities
Last week I said I wanted to buy the DIA Dow Jones 30 ETF at 326.50 or less. That occurred on Friday afternoon and I am now long DIA December call options. Despite the general market weakness earnings AND forward guidance have mostly been very positive. Here are a few stocks I like; Intel, IBM, Meta. These 3 stocks all had very good earnings and very good guidance. I think the low for these stocks is in and any retracements from current levels are buying opportunities. One stock that has a chance at a strong rebound is JPM. The banks are generally hated right now, but JPM had excellent earnings, the daily chart is way stretched to the downside, while the weekly still looks constructive.
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Home Depot Decline Sets Up Profit Potential
I'm not sure if you missed this but take a look at an example of a great potential trade I spotted.
Home Depot Inc. (HD) just moved above 0 on the TSI Indicator. Don't worry, I'll walk you through what that means.
...Read MoreWeight-Loss Drugs Lead to Portfolio Gains?
As a valued reader of Chuck Hughes' Trade of The Day, you have qualified for complimentary access to the Weekly Profit Opportunity, in this new alert, we will spotlight a specific trading opportunity that we feel has great potential. As a key part of Chuck's Optioneering Team, I work closely with Chuck throughout the week to review various setups and we select one we feel is ripe for a favorable move. Watch the video below to see our breakdown of this trade opportunity.
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