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The S&P 500 had a good week due to the impressive start of Q1 earnings and favorable inflation data. In March, the consumer price index rose 5%, lower than the previous month's 6%, and met economists' expectations.
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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 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 (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
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
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.)
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.
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.
The S&P 500 had a good week due to the impressive start of Q1 earnings and favorable inflation data. In March, the consumer price index rose 5%, lower than the previous month's 6%, and met economists' expectations.
FAANG stocks started recovering. Which ones are the best according to fundamental analysis?
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
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Greetings, fellow forex traders! Exciting news for those with an eye on the Australian market - the upcoming interest rate decision could be good news for Aussies looking to refinance or take out new loans. The Mortgage and Finance Association Australia CEO, Anja Pannek, has...
Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus
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