The post Stocks to Watch Now by Zaheer Anwari appeared first on Benzinga. Visit Benzinga to get more great content like this.
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The S&P 500 is up over 10% in the first 6 months of 2023. What has prompted this bull revival?
From a fundamental perspective, one may speculate with varying degrees of accuracy but never with certainty. This is one of the major challenges/limitations of sifting through news items to make an informed investment decision.
From a technical perspective, it is far simpler, particularly when looking at the higher timeframes.
Below is the S&P 500 monthly timeframe:
If one puts their feelings and opinions aside, there is little to dispute that the price has moved up as a result of the weekly 200 simple moving average.
Savvy investors who understand the importance of this critical moving average will be little surprised. The w200sma has held firm as support in 2011, 2016, and 2018 ( we can ignore the blip caused by CV19 in 2020 as a black swan event), and price patterns tend to have a habit of repeating, so are we seeing the start of the next bull run?
Or are we seeing temporary strength before further weakness?
There are two numbers to look for when getting a feel for market sentiment.
- Is the number of stocks trading above their daily 200sma on the increase? You want to know what’s changed in the past week, month and few months.
- Are stocks breaking out and printing new ATHs? You need to know what’s performing well and what is not. Without this information, you cannot make informed decisions.
Throw in the third filter of good performance history, and you have the spine of the criteria to narrow down to the best high-probability stocks that are likely to make it into the portfolio.
The mistake budding investors make is to buy stocks for the long term. It’s not efficient, and how you end up lumbered with stocks you should have exited a long time ago.
Instead, you constantly want to be scanning sectors. You then want to narrow down to the strongest stocks in the strongest sectors.
For example, the tech and communication services have underperformed this year, whilst energy and health care have performed well.
This resulted in stocks like MCK being up 50% in 2022, with the S&P 500 down 25% and PYPL down 80%.
Below are three stocks Benzinga will be closely monitoring through 2023.
Clearside Biomedical, Inc (NASDAQ: CLSD)
0.9308 – 0.99
0.9 – 1.85
0.95
61.67M
17.34K/12.43K
57.40M
61.67M
/0%
0.000
57.41M
McDonald’s Corp (NYSE: MCD)
285.03 – 288.88
230.62 – 299.35
287.57
728.76M
1.83M/2.40M
207.99B
728.76M
6.08/2.11%
54.750
727.13M
Nokia (NYSE: NOK)
3.75 – 3.81
3.8 – 5.185
3.8
5.55B
12.95M/16.24M
20.86B
5.55B
0.1077/2.83%
12.200
5.55B
Founded in 1865 and headquartered in Espoo, Finland, Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide, operating through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The firm has come back to the fore with the advent of a new generation of flip phones and the fact that the consuming public realizes that Nokia never vanished, specifically because the firm has so many government and industry-wide contracts, offering a range of services.
RBB Bancorp
13.559 – 13.905
8.62 – 23.4
13.77
19.00M
30.01K/47.74K
257.58M
19.00M
0.62/4.47%
20.410
16.04M
Founded in 2008 and headquartered in Los Angeles, RBB Bancorp operates as the bank holding company for Royal Business Bank that provides various banking products and services to the Chinese-American, Korean-American and other Asian-American communities.
Tips for Reviewing the S&P 500 and Trending Stocks
Stocks that are printing new highs coupled with the S&P 500 increasing have a much higher chance of trending and returning significant profit compared to undervalued stocks.
Why? Because they are moving in the direction of the overall market, and there is little resistance above price. It is commonplace for stocks to move 100% to 200% over a 12 to 24-month period, which is typically how long I hold my positions before rebalancing my portfolio.
Buying cheap or undervalued stocks are likely to keep on dropping or, at best, remain in a sideways market returning little reward for your risk and often ending up being an unpleasant journey.
You will be familiar with the expression to catch a falling knife, a situation investors regularly find themselves in, to their frustration.
Aligning with the market and trend following is a far more efficient approach compared to value investing.
The best approach, for now, is to apply patience and wait for the price of the S&P 500 to confirm a bull trend above the daily 200sma before adding any new stocks into the portfolio.
Where to Buy and Sell Stocks
Interactive Brokers is a comprehensive trading platform that gives you access to a massive range of securities at affordable prices. You can buy assets from all around the world from the comfort of your home or office with access to over 150 global markets. Options, futures, forex and fund trading are also available, and most traders won’t pay a commission on any purchase or sale.
IBKR is geared primarily toward experienced traders and investors but now with the availability of free trades with IBKR Lite, casual traders can also acclimate to IBKR’s offerings.
Best For
- Access to international markets
- Active traders
- Detailed mobile app that makes trading simple
- Wide range of available account types and tradeable assets
- IB SmartRouting provides significant price improvement vs. industry
- Fractional trading allows investing regardless of share price
- Industry’s lowest margin rates
- Earn more by lending your fuly-paid shares
- Beginner investors might prefer a broker that offers a bit more hand-holding and educational resources
Magnifi is an intelligently designed marketplace that allows investors to access data-backed information about various investment opportunities. The company combines standard brokerage tools with artificial intelligence (AI) to promote financial competence. Magnifi distinguishes itself from the crowd by offering an AI-powered search feature and an AI-powered investment assistant. Magnifi offers a technology-forward platform that aims to promote confident and capable long-term financial investments.
Best For
- Long-term investors
- Individuals interested in personalized assistance
- New investors that are eager to learn how to start investing
- Access to an AI-powered investing assistant with a Magnifi Personal account
- Commission-free investing
- Over 15,000 possible investments
- Available mobile application
- Limited methods of communication with customer service
CenterPoint Securities is ideal for active traders who demand access to advanced tools and services. While investors and casual traders are likely to be content with the basic offerings of traditional online brokerages, active traders will benefit from CenterPoint’s suite of advanced trading tools. If you value execution quality, access to short inventory, advanced trading platforms, and accessible customer service, CenterPoint is an excellent choice.
Best For
- Intermediate to Advanced traders
- High-volume traders
- Momentum traders
- Short sellers
- Unrivaled access to short inventory
- Flexible order routing for improved executions
- Discounts for active traders
- Advanced platform with fast executions
- Reliable customer service
- Not designed for beginner or low-volume traders
Webull, founded in 2017, is a mobile app-based brokerage that features commission-free stock and exchange-traded fund (ETF) trading. It’s regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
Webull offers active traders technical indicators, economic calendars, ratings from research agencies, margin trading and short-selling. Webull’s trading platform is designed for intermediate and experienced traders, although beginning traders can also benefit.
Webull is widely considered one of the best Robinhood alternatives.
Best For
- Active traders
- Intermediate traders
- Advanced traders
- No account maintenance fees or software platform fees
- No charges to open and maintain an account
- Intuitive trading platform with technical and fundamental analysis tools
- Does not support trading in mutual funds, bonds or OTC stocks
This publicly listed discount broker, which is in existence for over four decades, is service-intensive, offering intuitive and powerful investment tools. Especially, with equity investing, a flat fee is charged, with the firm claiming that it charges no trade minimum, no data fees, and no platform fees. Though it is pricier than many other discount brokers, what tilts the scales in its favor is its well-rounded service offerings and the quality and value it offers its clients.
Best For
- Novice investors
- Retirement savers
- Day traders
- World-class trading platforms
- Detailed research reports and Education Center
- Assets ranging from stocks and ETFs to derivatives like futures and options
- Thinkorswim can be overwhelming to inexperienced traders
- Derivatives trading more costly than some competitors
- Expensive margin rates
Premarket Stocks
Regular Market Hours
Aftermarket Stocks
The post Stocks to Watch Now by Zaheer Anwari appeared first on Benzinga. Visit Benzinga to get more great content like this.
