3 Stocks Ready For A New Up Trend To Hit All Time High Soon — ASAN, CDW, IQV

Market Update

On 19 Jul 2021, S&P 500 futures broke below the immediate support at 4280 and went into oversold condition tested the daily support at 4240, coincided with the demand line from the up channel.

S&P 500 in an up channel

Since Jan 2021, S&P 500 had tested the demand line from the up channel 6 times (as annotated in orange). Vertical absorption was observed on 20 Jul 2021 where an up swing is expected to at least test the all time high (ATH).

Last Friday, S&P broke above the previous ATH and committed above 4400 with Nasdaq led the rally.

Where to focus

Despite the all time high market for S&P 500, we still need to be careful on stock selection. Only focus on the outperforming stocks and avoid the weak stocks.

The focus is still on the "growth theme" rather than the "value theme" with the smart money still holding up the supply for the big (or mega) cap

There is one interesting phenomenon which is the big cap tech usually in a nice up trend while the small /mid cap tech might be a bit choppy without a nice structure. 

So, do stick to the obvious trade rather than "bottom fishing" unless you are buying the value with averaging down strategy with a time frame of at least 3 years.

So, check out the stocks to watch below for the coming week with some great setup inside!

US: 3 Stocks Ready For A New Up Trend To Hit All Time High Soon — ASAN, CDW, IQV

The market correction has ended with a reversal on last Tuesday. These 3 stocks — $Asana, Inc.(ASAN)$, $CDW Corporation(CDW)$ , $IQVIA(IQV)$  are ready for a new up trend to hit all time high soon with potential low risk entry setup. Watch the video below:

If you are day trading the US futures (especially S&P 500, ES) or swing trading for Malaysia stocks, feel free to check out my YouTube Channel: Ming Jong Tey for more videos and resources.

Further Reading

Q&A US Stocks EP5: Price Action Analysis On The Recent Correction of NIO, XPEV, PENN, TIGR, QS

Top 3 Defensive Stocks To Protect Your Portfolio During Market Correction

Q&A US Stocks EP4: Price Action Analysis on PLTR,BIDU, XOM, PYPL

# 炒股技术派

免责声明:上述内容仅代表发帖人个人观点,不构成本平台的任何投资建议。

举报

评论6

  • 推荐
  • 最新
  • 七色祥云6
    ·2021-07-26
    聚焦跑赢股,规避弱势股.,这句话非常赞同,但是能做到很不容易
    回复
    举报
  • 大小摩根
    ·2021-07-26
    视频不错
    回复
    举报