Always keep an eye on oversold large-cap stocks.
Most times, the temporary weakness is an opportunity.
For example, on August 7, we mentioned that “with a good deal of fear priced into the market, it’s time to buy the dip in oversold stocks.”
|
Company: Taiwan Semiconductor (SYM: TSM) One of the stocks we highlighted was Taiwan Semiconductor (SYM: TSM). We noted that, “After gapping to a low of $133.86, the tech stock is oversold on RSI, MACD and Williams’ %R and could bounce higher. Helping, Morgan Stanley just named TSM a top pick and reiterated its overweight rating on the stock.” At the time, TSM was just starting to pivot higher, trading at about $156. Today it’s up to $171.31 and could potentially refill its bearish gap at around $190 near term. |
Stansberry Research
Here’s why tech titans are dumping stock (not recession)
Warren Buffett just sold 56% of his stake in Apple (AAPL), and he’s far from alone.
Tech titans – from Meta’s Mark Zuckerberg to Nvidia’s Jensen Huang – have offloaded billions of dollars in stock since the start of the year.
Are they bracing for recession? Or preparing for a market collapse?
The truth is far simpler.
Click here to get all the details I’m releasing on the trend today.
|
Company: First Solar (SYM: FSLR) We also mentioned First Solar (SYM: FSLR), as it traded at around $210. We noted that “Oversold shares of First Solar look interesting again. After pulling back from about $300 to $216, the solar stock appears to have caught strong support at its 100-day moving average. Plus, it’s starting to slowly pivot higher from over-extensions on RSI, MACD and Williams’ %R.” Today, First Solar is up to $230.38. From here, we’d like to see it retest $250. |
TradeAlgo
6 Trading Secrets That Turned $2k into $83k
Jack Harris went from losing money to making a fortune using a secret method. Learn his exact strategies for FREE. [Free Book]
Click here to claim your FREE copy!
|
Company: Qualcomm (SYM: QCOM) There was also Qualcomm (SYM: QCOM), which traded at about $160. We noted “There’s also a lot to like with QCOM’s involvement with artificial intelligence-enabled devices in autos, computers, handhelds and wearables. To QCOM’s advantage, analysts at IDC say generative AI smartphone shipments could reach 70% of the market by 2028, which is a positive for QCOM.” Today, QCOM is up to $167.73 and could rally back to $180 again, near-term. Again, any time a large cap stock pulls back too much, too fast, consider buying the temporary weakness. It may pay off just as these three opportunities just did. |
