Four Stocks To Watch This Week - Monday, Nov. 11
After a nervous few days preceding Tuesday’s election, the markets responded enthusiastically to the emerging result on Wednesday, bouncing sharply off their 50-dmas.
While all the main indices are now overbought, the markets probably care in the short term. As anticipated, the big sector winners were Financials, Industrials, Consumer Discretionary, with others including Energy and Tech also joined in the fun.
A shout-out for CVX which doesn't make the four this week, but at least one Oil & Gas stock should be included.
Here are four stocks to keep on your radar this week:
- F (bullish) - A winner from the last Trump election victory, Ford could shrug off its problems as a new policy emphasis takes root in the coming months. As always, a breakout is required.
- JNJ (bearish) - The one bearish pick this week. Big Pharma could have problems moving forward in the Trump administration, and we'll also be keeping a close eye on food companies who specialise in ultra high processed foods. JNJ could do with a consolidation first.
- TAP (bullish) - Difficult to ignore the impressive last two days of upward momentum. A consolidation under $60 is needed here before a further upward move.
- WHR (bullish) - A good earnings response followed by nerves, then support at the converging 50- and 200-dma's, WHR has reacted positively to the election result and now looks poised for further upside.
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