Another red day, but have a feeling it will be green tomorrow, as Electoral College certifies Biden’s victory which showcases certainty and lawmakers announced the latest stimulus proposal.
It looked great this morning until we went a couple hours into market hours. That being said, please always have a plan for your trades (stop loss set, scaling in/out, positioning yourself relative to your portfolio size, etc.) Don’t blindly buy, especially options. It’s not just you, most people were bleeding the past couple days.
It sucks to see red, but manage your risk well and you will recover.
$AMD – held up great even though the market was red. I mentioned throughout the year that AMD has potential to reach 100 by EoY and it looks like it’s becoming a reality soon. MACD cross over on the 4 hour, and RSI is picking up. Looking at fibonacci levels, it looks like it needs to close above 96+ to see 100+. With enough momentum, this can happen. Also received a price target upgrade from Goldman Sachs. Raised price target from 94 to 110.
$AVGO – target raised by Argus from $400 to $460. This one has many analysts upgrades in the two weeks, keep an eye out. Stock currently around $410. 5G is becoming more common. @The Bullish Bear (Analyst) mentioned recently and @?Mojo Jojo? has been mentioning AVGO since several months ago.
$LULU – Currently down after earnings and has a lot of upside. Recent price target increases $400 to $500 at STRONG-BUY. Stock currently around $350s. Waiting for the bounce on this. Looking to enter around 330 if it gets to that point. If not, some other entries around 340 – 345 range.
$ATVI – recent break out. If this strength maintains and and continues to move towards 88, it can see 97+.