Hello Guys,
I hope you are having great time!
Today I would like to show you some useful charts that could give you potential ideas for your next investment. I will do that occasionally.
Remember that this is not a financial advice.
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Bitcoin: the breakout we were waiting for!
After a big drawdown, Bitcoin finally broken the descending trendline.
The most important cryptocurrency is 35% below its highs, but from a technical point of view, the situation looks more constructive after the breakout.
Adobe: Test of a big support
After a prolonged and large rally, Adobe stock fell sharply, together with many tech stocks. The price went from $700 to $500.
Now ADBE stands on a very big support: the reaction will be interesting to look.
In case the price will go below $500, more pain could come.
On the other side, Adobe is a company with solid financials and high growth. This could prove to be an interesting entry point for bulls too.
Delta Air Lines: ready to flight?
Airline companies have been one of the biggest losers of the last 2 years.
Now, thanks to vaccine and and to a softer Covid mutation (Omicron), many countries are quickly removing restrictions and people are travelling freely. This could boost travel & leisure stocks.
Delta is trying to rebound from a big support and just went above the 200-days moving average. I see good risk/reward ratio here.
A company to analyse for sure.
Energy companies in the ascending triangle
Oil companies are having a terrific year and the oil price is now at the highest level since 2014.
In the current environment, oil companies are making tons of money as showed by the recent earning reports.
The ETF on Oil & Gas companies is in the high part of an ascending triangle: the break-out could be a very bullish signal. A chart and and an ETF to follow!
European banks: higher rates means more gains
This is the last chart I am going to show you today.
Above you can see the chart of the index on European banks: Stoxx Europe Banks (SX7E). After a terrible 2020, financial companiess benefited from economic recovery and rising inflation.
Now, as many central banks are saying that they will raise rates soon, banks are one of the best place to be for stock investors.
European banks just went back to pre-pandemic prices, and now the index passed a multi-year resistance. I see more possible upside here.
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Best
Market Radar
Disclaimer: Market Radar is not an investment advisor. Any information provided as part of the services is impersonal and not specific to any person’s investment needs. You acknowledge and agree that no content published or otherwise provided as part of any service constitutes a personalized recommendation or advice regarding the suitability of, or advisability of investing in, purchasing or selling any particular investment, security, portfolio, commodity, transaction or investment strategy.