Top stock picks this week, including NVDA, CTRA and more
Stocks to Watch
Daily Chart -[BULLISH ↗ **]CTRA US pushed higher after shaping a bullish breakout. As long as price is holding above 25.20 support, a further push higher towards 26.95 resistance is expected. Technical indicators are advocating for a bullish scenario as well with bullish momentum building and MA golden cross is seen.
Alternatively: A daily candlestick closing below 25.20 support level could open drop towards next support at 24.70.
Daily Chart -[BULLISH ↗ **]NVDA US is drifting higher ahead of earnings this week. A pause above 135.40 support is expected before shaping a fresh push higher towards 155.00 resistance. Technical indicators are leaning towards a bullish scenario with MACD showing that momentum may slowdown ahead of earnings.
Alternatively: A daily candlestick closing below 135.40 support could open drop towards next support at 123.50 level.
Daily Chart -[BEARISH ↘ **]4568 JP has just shaped a bearish exit below 4610 resistance after consolidating since September 2024. A further drop towards 4230 support is expected. Technical indicators are advocating for a bearish scenario as well.
Alternatively: A daily candlestick closing above 4610 resistance level could open a drop towards next resistance at 4920.
4H Chart -[BEARISH ↘ **]285 HK shaped a bearish reversal after the triangle exit. A further push lower below 31.00 resistance towards 25.35 support is expected. Technical indicators are advocating for a bearish scenario with bearish momentum building.
Alternatively: A daily candlestick closing above 31.00 resistance will see price re-test triangle breakout resistance at 32.80.
Daily Chart -[BEARISH ↘ **]F34 SP broke down below descending trendline (since August 2024) and has been trading lower. As long as price holds below 3.14 resistance, a drop lower towards 2.95 support is expected. Technical indicators are advocating for a bearish scenario as well.
Alternatively: A daily candlestick closing above 3.14 resistance will open a short term rise towards next resistance at 3.20.
What Happened Recently (11 Nov - 15 Nov)
US markets closed lower last week, with $E-mini S&P 500 Futures(MAR5) (ESmain.US)$ and $E-mini NASDAQ 100 Futures(MAR5) (NQmain.US)$ pushing lower by 2.14% and 3.47% respectively. This comes after Powell's comment of the Fed not in a hurry to cut interest rates. Traders are currently pricing in a probability of 61.9% of a quarter basis rate cut by the Fed in December. The healthcare and tech sector saw the greatest weakness last week, with $Micron Technology (MU.US)$, $AbbVie (ABBV.US)$ and $Mettler-Toledo International (MTD.US)$ dropping lower by 14.09%, 17.98% and 12.16% respectively. Among other stocks, $Super Micro Computer (SMCI.US)$ melted down by 24.23% last week due to its accounting scandal and could be delisted from Nasdaq. Traders should look out for initial jobless claims, Philadelphia fed manufacturing index, existing home sales, 10-year TIPS auction and s&p global manufacturing and services PMI data released this week. Stocks in the earnings spotlight this week include $Walmart (WMT.US)$, $NVIDIA (NVDA.US)$, $Target (TGT.US)$, $Palo Alto Networks (PANW.US)$ and $Deere (DE.US)$.
Asian markets closed mixed last week. $HSI Futures(DEC4) (HSImain.HK)$ melted down the most by 5.68%, due to continued caution of US-Sino relations. Property and finance sector led the retracement. Among other stocks, $CHINAHONGQIAO (01378.HK)$, $LONGFOR GROUP (00960.HK)$ and $JD-SW (09618.HK)$ melted down the most by 19.17%, 16.91% and 14.62% respectively. Traders should look out for $XIAOMI-W (01810.HK)$ earnings report, PBoC loan prime rate and China loan prime rate data. $Nikkei 225 (.N225.JP)$ dropped lower by 2.10% last week. It drifted marginally higher by 0.23% on Friday due to weakening of JPY and outperforming GDP data. Traders should look to observe exports and trade balance data released this week. $FTSE Singapore Straits Time Index (.STI.SG)$ edged higher by 0.55%, with advancement observed in the finance sector. The Big 3 Banks climbed higher, with $DBS (D05.SG)$, $OCBC Bank (O39.SG)$ and $UOB (U11.SG)$ pushing up by 2.29%, 2.88% and 7.54% 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 visit https://www.moomoo.com/sg/support/topic5_935.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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72423057 : I want to ask those studying stock price charts, whether it is the stock price that determines the chart, or the chart that predicts the future trend of the stock price?
Lucky kuku bird ❤ 72423057 : Chart is just a references, history or an information for you to guess what the price or trend going to form in the future. And is no guarentee that even you study the chart you will know the future. And if eg 1000 people see the same chart and almost 90% guess the same things maybe it will be chart leading us to play in the same way to had that same outcome.![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Lucky kuku bird ❤ : Another to ask yourself is,, You play the game? Or the game play you.![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
wahlao 72423057 : Its human emotions determine stock price, price determine chart. See chart to see human emotions, but humans could be logical so u can't be sure 100%. It's the meaning of life. Deep.
fearless Puppy_9024 72423057 : Stock prices determine charts through recorded trading activity. However, charts can influence market behavior indirectly when traders use them to predict trends. External variables like institutional trades, company news(e.g. earning reports, mergers, acquisitions, product launches or management change) and micro-economic factors(e.g. interest rate, political events, global market conditions) can also override typical chart-based predictions by introducing sudden volatility or trends.
Kujo Jotaro : if you buy warren buffet style..u dont bother the chart for the next 5 - 10 years..chart analysis is prolly 30% indication of the trend and only used by shorties in most trades to "gamble" the next stock direction. Don't believe me?..go read all pennystock commentors and their god level analysis but still lose money.
SKYWalkers 72423057 : first:
1. how long have u been investing?
2. do you invest using fundamentals or using charts?
3. what is your success rate? how many % wins?
Noman2024 72423057 : Charts and trend analysis help you position yourself in determining when to buy and sell stocks, providing a basis for decision-making and gradually forming a cognitive process. This, combined with the actual performance of stocks, allows for adjustments. Without going through this process, your buying and selling decisions are solely based on impulsive reactions to real-time stock prices, which will generally result in losses.