In the second week of February S&P 500 gained 47 points which is 1.44% of the index and made a new high of 3931. On the other hand NYSE increased by 368 points which is 2.46% of the index and made another higher high of 15341.
Future expectations are high, we can expect another higher highs on the chart because sentiments are bullish, economy is stable and there is no negative news in the country or even in the world. Corona vaccine by Pfizer is performing outstanding so overall sentiments are bullish. Not only US markets but all over the markets including PSX (Pakistan Stock Exchange) and SENSEX (Bombay Stock Exchange) made another high. Crude oil, gold, silver and other commodities are also performing so in short we can expect more green candles in the upcoming sessions
In the second week of February we focused on three stocks, xFB, xAPPL and xNVDA so first we will discuss these three stocks:
APPLE: After a big green engulfing candle now price is moving in a downside and loose 3.41 points in this week. Stock is trading in a long term channel and today it touched the support level and bounced right after touching the support level, so now we can expect more from Apple and there are high chances that stock will go up further.
FACEBOOK: Facebook gained 3 points in this week which is 1.3%. Price is trading in the same channel like Apple but xFB will take more time in order to touch the support. Recently stock price break the consolidation phase so we can expect a little bit upside rally but not more than enough
NVIDIA: we can say xNVDA is a top gainer because it gains almost 65 points and which is 12% of the stock, more than enough. In the first week xNVDA breaks the channel on 1d candle graph and we passed on this news on our social media handles. Now we can expect a correction in this stock because it has already gained lots of points of correction is due in this stock
These stocks have potential to go up further, they have done with their corrections, now there are high chances of bullish rally in these stocks. We can open our position in amazon for long term but if you don’t want to hold your equities for long term so keep follow our updates: we will give you successful calls time to time so that you can swing and roll your money and play safely and smartly in this risky market.