Stocks Poised for Pause Amidst Uptrend? Healthcare and Energy Shining & 2 new Buys
Update July 23 2023
Hi, here is my weekly update.
Despite witnessing a strong red day last week, the overall market uptrend appears to be holding steady. While we may approach a temporary pause in the market's recent advances, the prevailing trend remains upward until proven otherwise. Take a look at the Equal Weight SP500 chart below, which is breaking out from a consolidation box. Although a downturn might occur, it has not happened yet.
The energy sector is gaining momentum, driven by oil prices nearing $80/barrel again. Check out the Equal Weight Energy ETF chart below.
In addition, the Healthcare sector is showing signs of improvement, breaking out as well.
Industrials, Financials, and Tech sectors are also looking promising.
Globally, most stock exchange indexes are on an upward trajectory, illustrated by the Total World ETF by Vanguard, showcasing a clear uptrend.
However, we need to remain cautious of the 10-year US treasury bond potentially heading upwards. As of now, this has not yet occurred.
Now to my Portfolios (POTS)
10X LARGE CAPS MOMENTUM POT (link)
No significant changes occurred last week, and I am not making any adjustments here.
10X SMALL CAP MOMENTUM POT
I was stopped-out from OPRA 0.00%↑ for a 175% gain in about 6 months.
CREX 0.00%↑ , one of the few stocks left in the portfolio popped gaining about 35% for the week! So now I have 2 positions above 40% in unrealized gains.
Now to the first new stock that I am adding this week: FTCI 0.00%↑
A stock from the Solar sector
Expected to grow at 20%/year over the next 2 years
Becoming profitable
Breaking out from a 7 months consolidation period
MACD getting into positive territory
So I am creating a STOP BUY order at $3.66 for 275 shares of $FTCI. I’ll set my initial Stop Loss at $2.79
Now to the second new stock I am adding to my 10X SMALL CAP MOMENTUM POT: BRAG 0.00%↑
A stock from the gaming group (like GENI 0.00%↑ ) , growing above 20% YoY, profitable and still undervalued.
Popped out from a consolidation period on huge volume
I am creating a STOP BUY order at $4.51 for 220 shares of BRAG 0.00%↑ and I’ll set my initial Stop Loss at $3.39
That’s all for the week!
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Important: this is not investment advice. Consult a licensed financial advisor before making any investment decision.