Stocks This Week: Buy FedEx And Short NVIDIA


Photocredit: © 2019 Bloomberg Finance LP

© 2019 Bloomberg Finance LP

The uptrend in the S&P is likely to persist through the week. Here are a long and a short recommendation.

FedEx has been staging a recovery rally since its late November top. The weekly cycle bottoms on April 7th and tops late in the month. In the last year, nine of ten buy signals have been profitable. The stock may reach $200 by the last week of the month.

Chart 1

This cycle is hitting a new low.

Cycles Research Invesments LLC

Chart 2

The stock is likely to rise.

Cycles Research Invesments LLC

The NVIDIA weekly price cycle tops on the 8th. In the past year, all 6 sell signals have been successful. This down wave points to $170 as a reasonable downside target.

Chart 3

This cycle is topping and past signals have been accurate.

Cycles Research Invesments LLC

Chart 4

The share price may drop closer to $170.

Cycles Research Invesments LLC

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