With the big market drop on Friday (Dow down 3% and NADAQ almost 4%) I thought I would have a look for some stocks that might have been oversold and their drop exaggerated by the overall market falling. What will sometimes happen is some bad news plus the overall market having bad news will end up with 1 + 1 = 3 and an overreaction as stop losses get triggered...
Anson has been range trading since the end of last year and with todays announcement of plans for a major increase in planned production capacity of its core asset, the Paradox Lithium Project in Utah, USA it would seem pretty bullish. Could be worth further research.
Video to show how to use TradingViews Screener to find stocks running after a recent earnings report. - Includes setting up the Columns - Setting up the Filters - Reviewing the Stocks - Setting Alerts
Quite a lot of upside potential to get back to old highs if this one does decide to run again. Back up above its 20 day moving average, but needs a couple more upward moves to confirm. Added to the watch list.
A recent market favourite GRR is a bit all over the place lately. Its dropped back again to a pretty solid support area after todays quarterly report. Hopefully once the market has digested the news we might see another move back up. One to watch.
Marathon Oil was a nice steady runner throughout the last 12 months pre pullback with the wider market. It's back up above its 20 day moving average and showing signs of regaining some of its momentum. Just keep an eye on earning due in the next couple of days and see which way the stock reacts depending on the news. One to watch.
Down almost 30% on its Earnings Report. Be interesting to see if this is an over reaction by the market and might be some upside. Watching.
Ford posted some good earnings last week and you can see its had a nice bump in the price. Looks a bit too hot at the moment looking at the RSI but could be worth adding to your watchlist. Bit of upside if it continues to rally.
Australia's Core Lithium has been in a pretty strong uptrend over the last couple of weeks. The RSI looks like it can run higher based on past levels. Could be worth a watch. (also thought I'd try a darker theme for the fun of it)
Pinterest put in a good report and is looking like it will be up 20% or so when the market opens based on the post market rally. Will be interesting to see how long it runs.
Cenovus Energy has had a bit of a run after reporting higher Q2 EPS year over year. They are also potentially getting a bit of a bump pre next weeks OPEC meeting with crude oil closing higher on Friday even as recession concerns continue as traders see little prospect of a rise in supply coming from next week's OPEC+ meeting. Might be worth a watch.
Another miner continuing to do well off the current demand. Might be a bit extended at this price point so expect a pull back at some stage and then review. Worth a watch and some more research.
Must be news out there somewhere, but a lot of Australian Uranium stocks have broken out today. 92 Energy is exploring for Uranium in Canada which given its geographical proximity to the US is probably a good thing. From a price perspective, it has broken out above its upper bollinger and above a previous resistance area with some upward room to get back to old...
Just while we are on the Coal theme with the success of Whitehaven, YAL is looking like it might be at a better value area especially if we get a bounce from here. Watching to see which way it heads.
Thought I would make a video on a really simple and integrated way to help you record why you took a trade and what the chart looked like at the time without having to publish it. TradingView Notes allows you to take a screen capture of the chart as well as your indicators and drawings being used at the time and easily recall them. Well worth using if you want...
From the Sydney Morning Herald, "An Australian baby formula company has sealed a mega deal to send more than a million tins to desperate parents in the United States, with President Joe Biden spruiking the deal on Twitter himself." “I’ve got more good news: 27.5 million bottles of safe infant formula manufactured by Bubs Australia are coming to the United...
Price crossed both is 30 day moving average as well as the MACD crossing up which are both reasonably bullish signals. Could be worth a closer look and doing some research.
Another coal company heading up post earnings. Bit of upside to previous highs if its momentum continues. Could be worth more research.