Any new idea for this week?

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This topic contains 5 replies, has 4 voices, and was last updated by  Andrew Aziz 1 month, 1 week ago.

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  • #4073

    Andrew Aziz
    Keymaster

    Thinking of pot stocks.

    #4088

    Ryan W
    Keymaster

    Marijuana stocks look good, as do some of the tech stocks, especially after the fiasco with INTC that was released today (issues with all of their processors since 1995): https://www.forbes.com/forbes/welcome/?toURL=https://www.forbes.com/sites/thomasbrewster/2018/01/03/intel-meltdown-spectre-vulnerabilities-leave-millions-open-to-cyber-attack/

    #4347

    Brian Pez
    Keymaster

    I think that pot stocks are going to be a little volatile and may be a little harder to trade with the risk introduced by the Federal government on Thursday. The week prior they were awesome swings. The Canadian pot stocks like WEED and APH were great and offered the best reward because of the Canadian Government’s legalization of pot moving forward. However, I know that many of our traders here do not have access to the Canadian markets. At this point these are the only ones I have traded. I did look at some US listed pot stocks but did not see any tradable charts last time I looked.
    In summary, I think the sector now has a grey cloud hanging over it but will be watching price action.

    #4421

    rvecchio
    Participant

    What about UGAZ for swing trade?
    Reason: Close to 52 week low, it seems to be consolidating right now
    Swing trade range: $30 (oscillation range)
    Current Price: $61.14
    Target Price: $73

    • This reply was modified 1 month, 1 week ago by  rvecchio.
    #4423

    rvecchio
    Participant

    What about BAC for swing trade?
    Reason: Strong uptrend, outperforming S&P for a long while, strong economic outlook for 2018 based on analyst
    Swing strategy: 10 new highs, 1 new low within 180 days
    Current Price: $30.33
    Target Price: $33.33 (10% growth)

    #4424

    Andrew Aziz
    Keymaster

    BAC is intresting for a swing.

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