BKR, COF and more among stocks picks in data-heavy week
Stocks to Watch
Daily Chart -[BULLISH ↗ **]BKR US shaped a bullish exit of ascending channel to the upside. As long as price is holding above near term support at 42.65, a further push higher towards 46.90 resistance is expected. Technical indicators are advocating for a bullish scenario as well.
Alternatively: A daily candlestick closing below 42.65 support level could open drop towards next support at 38.60.
Daily Chart -[BULLISH ↗ **]COF US gapped higher and shaped a new high. With 179 as support, a further push higher towards 213.20 resistance is expected. Technical indicators are advocating for a bullish scenario as well.
Alternatively: A daily candlestick closing below 179 support could open drop towards next support at 166.20 level.
Daily Chart -[BULLISH ↗ **]9433 JP did a bullish breakout and shaped a new high. A pause above 4900 support is expected first before a push higher towards 5200 resistance. Technical indicators are advocating for a bullish scenario as well.
Alternatively: A daily candlestick closing below 4900 support will open a drop towards next support at 4760.
4H Chart -[BULLISH ↗ **]3382 JP has just gapped higher and shaped a new high. With 2400 as support, a further push higher towards resistance at 2830 is expected. Technical indicators are advocating for a bullish scenario as well.
Alternatively: A daily candlestick closing below 2400 support will open a drop towards next support at 2120.
Daily Chart -[BULLISH ↗ **]3888 HK is currently holding above short term ascending trendline support. As long as price is holding above 30.00 support, a further push higher towards 35.85 resistance is expected. Technical indicators are showing room for further upside.
Alternatively: A daily candlestick closing below 30.00 support will open a drop towards next support at 26.50.
What Happened Recently (18 Nov - 22 Nov)
US markets closed higher last week, with $E-mini S&P 500 Futures(DEC4) (ESmain.US)$ and $E-mini NASDAQ 100 Futures(DEC4) (NQmain.US)$ pushing higher by 1.53% and 1.74%. This comes after consumer sentiment data which outperformed October's and inflation expectations which came in as expected. $Copart (CPRT.US)$ climbed the most by 10.19% last week, after outperforming quarterly earnings reports. Ahead of FOMC meeting minutes this week, investors are currently pricing in a 52.7% probability of a 25-basis-point rate cut by the Fed in December. US markets would be going on holiday on Thursday and early closure on Friday. There is heavy economic data released this week, and traders should keep an eye out for CB consumer confidence, new home sales and FOMC meeting minutes tomorrow.
Asian markets ended mixed last week. $HSI Futures(NOV4) (HSImain.HK)$ pushed lower the most by 1.07% last week. This is due to continued risk-off sentimemt among traders of China's growth recovery due to potential US tariff hikes and weak earnings. $ALI HEALTH (00241.HK)$ melted down the most 14.46%. $HSI Futures(NOV4) (HSImain.HK)$ pushed higher earlier in the week due to Chinese government advisers recommending Beijing to push for stronger fiscal stimulus. $Nikkei 225 (.N225.JP)$ drifted down by 0.85%, with the health tech sector experiencing the most weakness. In the health tech sector, $Chugai Pharmaceutical (4519.JP)$ dropped the most by 13.73%. Traders should look towards BoJ core CPI data released tomorrow. $FTSE Singapore Straits Time Index (.STI.SG)$ drifted marginally higher by 0.04%. This comes after GDP data which outperformed last month's GDP data. Among other stocks, $SGX (S68.SG)$ climbed the most by 10.87%. Traders should look out for CPI and industrial production data released later and tomorrow respectively.
Prepared by:
Moomoo Singapore
Isaac Lim CMT, CFTe
Chief Market Strategist
Chief Market Strategist
This report is provided for informational and general circulation purposes only and should not be construed as an offer, solicitation, or recommendation for the purchase or sale of securities, futures, or other investment products. It does not take into consideration any particular needs of any person. This advertisement has not been reviewed by the Monetary Authority of Singapore.
For full disclaimers, please visithttps://www.moomoo.com/sg/support/topic5_935.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
Read more
Comment
Sign in to post a comment
103677010 : noted