Traders are preparing for a week of mega-cap tech earnings and a fed monetary policy decision this week. I always do not like earnings weeks and tend to not to play them. If you are like me, maybe we won't be trading as much this week. However, I've got a lot more alerts that have been set on Trend Spider and eager to get in some positions.
The Federal Reserve kicks off its latest two-day meeting on Tuesday, with a monetary policy decision and press conference from Fed Chair Jerome Powell set to take place Wednesday afternoon.
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Notable Earnings This Week:
Monday: $TSLA, $LOGI
Tuesday: $AAPL, $GOOGL, $AMD, $MSFT, $UPS
Wednesday: $FB, $F, $SPOT, $PYPL
Friday: $CVX, $ABBV, $CAT, $XOM
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New Alerts Added
As a long term $TSLA investor, I think this is another great time to buy stock. It is trading around the 50 MA and I believe that it can run up to $700 relatively quick. Of course $TSLA as an option contract is very risky and expensive. Currently Tesla China is experiencing huge order volumes of their new Standard Range Model Y. Deliveries are pushed back until late October now. I think there are a lot of people underestimating the demand for model 3/Y in the Middle Kingdom; not to mention Model 2 is suppose to debut later this year. Furthermore, FSD has been released as a subscription. I surmise that eventually, all 'add ons' will be subscriptions, for example heated seats. Even the car itself can be a subscription. Not only has Tesla changed the industry and pushed it forward, I strongly believe there is more to come.
IRM or Iron Mountain is a record management services provider. The firm is organized as a REIT. Most of its revenue comes from its storage business, with the rest coming from value-added services. Lately it has shifted toward a data center strategy which has greatly benefited the stock price. I am a fan of what the company is doing, however I believe it has already priced in many things. With that said, a $45 price target is interesting and riding short term calls up to that could prove profitable.
Next on the alert list is $F. Ford has obviously been shifting into electric vehicles with the Mach-e and the new F-150 lighting. It has been riding up a parallels channel for some time now, and I have reason to believe it will continue to do so. Overall, I like what the company is doing, and I would sell puts around $13 as I want to own some shares. I believe a fair price is $17-$20.
$ABBV has always been an excellent stock to own with a great track record. Although earnings are coming up this week, I've set an alert at a lower support that seemingly has formed. I like $120 EOY calls here.
$LOGI, Logitech earnings are also this week. I've set an alert for a lower support that appears to be very strong. There is also a large volume shelf that indicates a lot of buying will take place around the $100-$110 price level. Maybe we can see the stock pull back after earnings this week and have a good chance to buy calls.
Do you remember me saying that airline stocks are overrated and won't have as good as a summer than everyone was talking that they would at the Q1 of this year? I do! And Delta, DAL, has consistently being sold off. There was just to much hype that these dinosaur companies would some how be oober profitable when they never really have before. Nevertheless, I'm a buyer at around $35/$36. Now we are coming up to Aug/Sep which have consistently been hard month for the airliners.
$REGN, Regeneron Pharmaceuticals, indicators are showing overbought. It is approaching highs right now and I think a consolidation back to the 50MA is in order. I've drawn out a horizonal resistance myself at $600 where an alert will trigger for puts down to $550. Note that there are two larger volume shelves at a little above $600 (resistance) and $550 (support).
Next, I've put in an alert for JPM at the 180MA support. I think this is a good time to buy calls expiring either in Nov or Dec. JPM has down well toward the end of the year, and now is the time to get a better price on calls.
Last on the list is BTI. I've just done a very detailed Research Report and you should check it out here: British American Tobacco (BTI) Analysis - July 2021
This company is very undervalued in my opinion and has great upside potential. I like LEAPS in this case, or even just buy shares. I've set an alert for around $37.5 where I will start buying.
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Disclaimer: The comments opinions and analysis expressed herein are for informational and educational purpose only and should not be considered as individual advice or recommendations. Prostockadvice.com is not responsible or liable in any way for opinions expressed here. This is not meant to be financial advice as we are not a licensed financial advisor.