Our Challenge account started performing well again. We started the account at the end of the extremely strong bull market in 2021 and then had to ride it through the entire 2022 bear market. That was challenging. We had to close some trades for a loss and pretty much stop trading. We however kept buying Continue reading →
Archive for July, 2023
Technical view: Airbnb, Inc. (ABNB)
ABNB is in stage #2. The stock just broke above its resistance at $130 a share and rallied hard. The stock is reaching another resistance at $145, and we need to see if it breaks above it but I would assume it would gain momentum and breaks it. The weekly chart shows the breakout Continue reading →
Technical view: Walgreens Boots Alliance, Inc. (WBA)
WBA is in stage #4. The company reported bad earnings and a gloomy outlook last week. It sold off by 10% immediately. The company announced a closure of 450 locations and earnings was a miss. But not by much. Only by 6.3%. I have seen companies missing by far more. And investors are asking Continue reading →
The market is overbought, again, preservation is the key
The market is now entering a new era. Back in October 2022, when I called the bottom, it was an easy pick. You could pick any tech stock, and today you would be a winner. Yes, the traditional stocks were the laggards, but since then, they have picked up the steam and rallied as well. Continue reading →
Technical view: AbbVie Inc. (ABBV)
ABBV is in stage #3. The stock is in a sideways move with a slightly downward trend, possibly morphing into stage #4 if the selling continues. As you can see on the weekly chart, the stock was under serious selling pressure during 2018 and 2019 years. Investors were dumping the stock of a fear Continue reading →
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