Hello traders! Hope you guys had an amazing weekend. Today I'm going to talk about the stocks I'm going to watch during the first week of December. These are stocks I see the most value in. Also, take into account the fact that I'm still using a demo account and I'm not giving financial advice to anyone, as you can read in my disclosure. This post and many others represent solely my opinion. Also don't forget the fact that I'm not giving stock picks. These are stocks that might rise (or not) this week. This is really short-term trading.
Just a final note before reading my analysis. Some images might be too small, and you might not be able to see all the details I talk about. So, my recommendation is to click the right side of the mouse and select open on a new window. Then you can zoom in and see better. Or you can open your own charts. I'll always refer the timeframe I'm analysing.
1. $DISCA: Discovery, Inc.
(4H chart)
So, this stock experienced an healthy pullback to the 20SMA. Other reason why I see value in it is because the stock is near a support line at $30.00 and has a profit potencial of around 8% to its resistance line at $33.50, as you can see from the image below.
(30min chart)
On the 30min chart I also like the fact that the RSI is testing a support line that was respected when the stock started the rally of 29th of November.
2. SNA: Snap-on Incorporated
(4H chart)
I usually don't trade this type of pattern: the breakout pattern. Although let's see how it performs during this week.
3. AAPL: Apple Inc.
(4H chart)
One of the things I like the most on Apple is the fact that W. Buffet recently bought more shares of it, the stock experienced a 20% decline, is above the 20 SMA and above the $165.00 support line. Also, don't forget that these huge companies are closely watched by thousands of investors, so I usually don't expect a big consolidation pattern.
(30min chart)
On the 30 min chart the price has been on a nice consolidation. I want to see a break above $181.00
4. K: Kellogg Company
This company was brought to my attention from a Morningstar article. I think it is ready for a nice rebound, but has a strong resistance at $65.00. Notice that it made a double bottom a few days ago, so that's very bullish.
(30 min)
There're two things I like the most on this 30min chart. There's a divergence on RSI: the RSI has been o a upward pattern, while the price was consolidating. On the other hand there's a stong support at $62.50 that has already been tested, so this is a bullish signal.
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