Top Stocks to Invest in in 2023

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The previous year 2022, was undoubtedly tumultuous for the stock markets, with several stocks plummeting across multiple industries. Analysts have blamed the hard times on inflation, hawkish federal reserve policies, an impending global recession, and the ongoing crisis in Ukraine. This year, however, we're beginning to see some recovery in the stock markets. This article will find a few stocks worth buying this year.

AMAZON - 1 Hour Timeframe

AMAZON on the hourly timeframe has recently broken out of a wedge which may lead to a continuation of the bullish market structure on the higher timeframes. So far, I believe that AMAZON would seek to create a new high after a slight retracement into a valid area of support.

Analysts’ Expectations: 

Direction: Bullish

Target: $109

Invalidation: $99

AMD - 1 Hour Timeframe

AMD (Advanced Micro Devices Inc.) is currently in an uptrend. However, the current price action within the wedge indicates a possible bullish breakout because the recent reaction occurred at the confluence of the 50-Period Moving Average and the 62% Fibonacci retracement level. It would be in your best interest to wait for a clear break out of the wedge before settling into the trade.

Analysts’ Expectations: 

Direction: Bullish

Target: $90

Invalidation: $85

PHILIP MORRIS - Daily Timeframe

PM (Philip Morris International Inc.) on the Daily timeframe created a bullish break of structure when prices rose above the high marked by the horizontal arrow. As a result of this price action and the fact that the price is currently reacting from the demand zone (as highlighted by the rectangle), we can project a buy scenario to the $105 price area. The 50-Day moving average also serves as an added confluence.

Analysts’ Expectations: 

Direction: Bullish

Target: $106

Invalidation: $99

... notable mentions

The following are a few other note-worthy stocks to invest in for the year 2023;

- Lululemon Athletica (by John Starzak

- Argus Research Analyt)

- Merck (by Trung Huynh, Credit Suisse Analyst)

- Chord Energy (by Charles Lemonides, ValueWorks Ltd.)

CONCLUSION

The trading of CFDs comes at a risk. Thus, to succeed, you have to manage risks properly. To avoid costly mistakes while you look to trade these opportunities, be sure to do your due diligence and manage your risk appropriately.

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Legal disclaimer: The content of this material is a marketing communication, and not independent investment advice or research. The material is provided as general market information and/or market commentary. Nothing in this material is or should be considered to be legal, financial, investment or other advice on which reliance should be placed. No opinion included in the material constitutes a recommendation by Tradestone Ltd or the author that any particular investment security, transaction or investment strategy is suitable for any specific person. All information is indicative and subject to change without notice and may be out of date at any given time. Neither Tradestone Ltd nor the author of this material shall be responsible for any loss you may incur, either directly or indirectly, arising from any investment based on any information contained herein. You should always seek independent advice suitable to your needs.

FBS Analyst Team

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