It’s January. It’s a new year. It’s a month that is more often bullish than not. Shifting gears to the broader stock market, I added one global stock today and have an eye on a US-based Tech giant.
As I have mentioned previously, as a SeekingAlpha contributor I have access to premium fundamental stock analysts who publish there. It doesn’t mean they are going to be right, and I am no fan of “stock pickers”. But it does mean that by their profession they do a lot more digging into each stock’s funda than macro guy Gary would do. Generally, each of these stocks are well thought of.
On the TA, I added BABA on its pullback. It had been highlighted in a recent NFTRH report and today I took it on a partial pullback of its jump yesterday. This is at least partially due to the move in general global stocks vs. US stocks. I have let ASML get away from me and BABA was a fellow global watch list item.
BABA (daily chart) has not performed to the degree many of its Asian/EM fellows have, as it remains in a downward flag from the high. I added it as part of a portfolio, not worrying about nickel-diming it to 144, which would be the preferred buy for a trader.
The situation I am watching in MSFT works best with a weekly chart. I find it interesting that after a double top it has dropped back to the original upside target of 475, per the 2022-2023 Cup. Support is in the 445-460 range.
Softee is obviously a US stock. But it is also a global monster. I have not decided whether I would like to add it yet, or not. But it is now on watch, pending the market (as are all my positions and watch items).
NFTRH+ trade setup ideas are presented for consideration and further research only, not as recommendations. I may or may not personally take positions in all or even most NFTRH+ ideas, as it would depend on my portfolio composition at any given time. “Stop loss” and target levels are usually noted and should be respected.
