US500: A further correction towards 5192 before resuming purchases.
Bearish Scenario: Sales below 5220... Bullish Scenario: Buys above 5225 (if price fails to break below decisively) ...
Stocks To Watch For March
2024-02-29 • Updated
During his program on CNBC on February 28, Jim Cramer expressed frustration with the impact of earnings reports on market behavior, noting how they often prompt rash decisions by average investors. He criticized the short-term focus and lack of attention to nuance in news coverage of earnings. Cramer cited examples of Home Depot and Lowe's, highlighting how investors reacted hastily to headline news without considering the broader context provided in earnings calls. He emphasized the importance of waiting for detailed insights from company management before making investment decisions based solely on news reports. Here are a few recommendations of mine based on Technical analysis of price action.
SONY - W1 Timeframe
Following the break below the previous low at the horizontal arrow, share prices of SONY stock went on to break the high as well, shifting the trend from bearish to bullish. The bullish array of the moving averages as well as the trendline support, drop-base-rally demand zone, and the Fibonacci levels are my confluences for this bullish sentiment.
Analyst’s Expectations:
Direction: Bullish
Target: 95.75
Invalidation: 79.41
PYPL - W1 Timeframe
PYPL (Paypal) stock recently broke above the trendline resistance of the wedge pattern after what appears to be an over-extended bearish run, following this, a clearer break above the trendline would indicate that bullish pressure is being revived, but it may take a while before we get an actual bull-run from the PYPL stock.
Analyst’s Expectations:
Direction: Bullish
Target: 71.86
Invalidation: 55.15
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.
You can access more of such trade ideas and prompt market updates on the telegram channel.
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