Valero Energy Corp. stock trades under the ticker VLO & has shown recent bullishness that traders & investors should research further into.
VLO stock closed at $131.88/share on 3/27/2023.
Valero Energy Corp. VLO Stock’s Technical Performance Broken Down
Valero Energy Corp. VLO Stock’s Technical Performance Over The Past Year
VLO Stock Price: $131.88
10 Day Moving Average: $129.39
50 Day Moving Average: $134.72
200 Day Moving Average: $121.24
RSI: 49.99
MACD: -1.118
Yesterday, VLO stock completed a bullish MACD crossover, gaining +2.03% on the day’s session.
Recent trading volumes have been about average compared to the year prior & their RSI is neutral, after recently climbing back from the losses of early March 2023.
VLO stock has support at the $129.39 (10 day moving average), $128.70 & $127.86/share price levels, with resistance at the $134.72 (50 day moving average), $135.70 & $141.32/share price levels.
Valero Energy Corp. VLO Stock As A Long-Term Investment
Long-term oriented investors will like VLO stock’s 4.35 P/E (ttm) & their 1.99 P/B (mrq).
They recently reported 17.5% Quarterly Revenue Growth Y-o-Y, with 208.5% Quarterly Earnings Growth Y-o-Y.
Their balance sheet will require a more thorough examination, with $4.86B of Total Cash (mrq) & $12.72B of Total Debt (mrq).
VLO stock pays a 3.03% dividend yield, which appears to be sustainable in the long-run, as their payout ratio is 13.5%.
83.82% of VLO stock’s outstanding share float is owned by institutional investors.
Valero Energy Corp. VLO Stock As A Short-Term Trade Using Options
Traders with shorter time horizons can trade options to profit from VLO stock’s price movements, while protecting their portfolios from volatility.
I am looking at the contracts with the 4/21 expiration date.
The $130, $131 & $129 calls are all in-the-money, listed from highest to lowest level of open interest.
The $135, $132 & $134 puts are also all in-the-money, with the former being more liquid than the latter two strikes.
Tying It All Together
VLO stock has many interesting characteristics that traders & investors will find appealing.
Investors will like their valuation metrics, recent growth & dividend yield.
Traders will like their recent technical performance & how liquid their options are.
All-in-all, VLO stock is worth taking a closer look at to see how it fits into your portfolio strategy.
*** I DO NOT OWN SHARES OR OPTIONS CONTRACT POSITIONS IN VLO STOCK AT THE TIME OF PUBLISHING THIS ARTICLE ***
SPY, the SPDR S&P 500 ETF gained +1.46% this past week, lagging the performance of the NASDAQ names.
SPY, the SPDR S&P 500 ETF’s Technical Performance Over The Past Year
Their RSI is neutral & recent trading volumes have been above average compared to the year prior.
SPY’s MACD is showing signs of slowing down, with signals of a downtrend from Tuesday on last week.
SPY has support at the $392.02 (10 day moving average), $389.10 (200 day moving average), $388.28 & $387.13/share price levels, with overhead resistance at the $398.27, $399.14 (50 day moving average), $401.76 & $402.49/share price levels.
QQQ, the Invesco QQQ Trust ETF closed +1.97% higher this week vs. last, outperforming the large caps of the S&P 500, as well as the smaller cap Russell 2000 stocks for the week.
QQQ, the Invesco QQQ Trust ETF’s Technical Performance Over The Past Year
As a result, their RSI is on the more overbought end of neutral (62) & their MACD is bullish, but beginning to show signs of weakness as it rolls over & recent trading volumes have been about average compared to the year prior.
QQQ has support at the $309.30, $304.22, $304.00 (10 day moving average) & $303.53/share price levels, with resistance at the $312.16, $313.19, $315.25 & $327.77/share price levels.
IWM, the iShares Russell 2000 ETF gained +0.69% this past week, as small cap names did not enjoy the same strength as their S&P 500 & NASDAQ peers.
IWM, the iShares Russell 2000 ETF’s Technical Performance Over The Past Year
Their RSI is on the oversold end of neutral at 38, as their MACD is beginning to righten after their freefall at the beginning of March 2023.
Trading volumes for IWM have been very high this past month, which should advice market participants to be careful.
IWM has support at the $169.71, $169.05, $166.80 & $166.21/share price levels, with resistance at the $172.67, $172.93 (10 day moving average),$174.63 & $174.71/share.
Let’s dive into some of the best & worst performing sectors & geo-locations based on this week’s technical rating data results!
Semiconductors (SMH), U.S. Technology (IYW), Silver Miners (SIL) & Japan Small Cap Dividends (DFJ) Are All Bullishly Leading The Markets
SMH ETF – VanEck Vectors Semiconductors ETF’s Technical Performance Over The Past Year
Their RSI is approaching the overbought end of neutral at 59, with recent trading volumes being slightly below average compared to the year prior.
Their MACD is beginning to signal that there may be some cooling off to come in the near-term, as it turns bearish, and their 0.94% distribution for long-term holders will not provide much cushion for investors.
The presence of both a shooting star & hanging man candlestick in last week’s chart signals that unless you’re using an options strategy for protection to wait & see how it behaves at its support levels.
SMH has support at the $250.42, $249.79 (10 day moving average), $249.56 & $246.32/share price levels, with resistance overhead at the $255.64, $261.92 & $267.30/share price levels.
IYW, the iShares U.S. Technology ETF has lost -12.5% over the past year, but has rebounded +29.98% (ex-distributions) since their 52 week low in October of 2022.
IYW ETF – iShares U.S. Technology ETF’s Technical Performance Over The Past Year
Their RSI is approaching overbought, and recent volumes have been above average compared to the year prior.
Their MACD is beginning to show signs of waning enthusiasm & their distribution only offers a modest 0.49% cushion for protection from losses for long-term holders, suggesting that in the near-term this is a better idea for an options trade than a long-term investment.
IYW has support at the $89.24, $88.25, $87.72 (10 day moving average), $87.39 & $87.22/share price level, with resistance at the $90.27, $91.24, $94.25 & $94.65/share price levels.
SIL, the Global X Silver Miners ETF has lost 20.6% over the past year, but has bounced back +38.77% (ex-distributions) from their lowest point of September 2022.
SIL ETF – Global X Silver Miners ETF’s Technical Performance Over The Past Year
Their RSI is on the overbought end of neutral, with recent trading volumes being average compared to the year prior.
Their MACD is beginning to look exhausted, and their distribution only provides 0.21% of an annualized cushion, signaling that it is best to see how Friday’s doji candlestick plays out & whether a morning star pattern is formed or not (signaling a bearish reversal).
While waiting, trading options can generate profits that can be parlayed into buying long-shares once things become more clear.
SIL has support at the $28.92, $28.59 (50 day moving average), $28.45 (10 day moving average) & $27.81/share price level, with resistance levels at $29.78, $29.79, $31.38 & $31.90/share.
DFJ ETF – WisdomTree Japan SmallCap Dividend Fund ETF’s Technical Performance Over The Past Year
Their MACD looks poised for a bullish crossover in the near-term, although their past couple of candlesticks will need to maintain their momentum & avoid filling the gap from last Thursday.
Recent trading volumes have been above average compared to the year prior & their RSI is neutral.
DFJ pays a 2.54% annual distribution, which will shield long-term holders from some losses in volatile environments & they have options which can be used for additional downside protection.
DFJ has support at $64.61 (50 day moving average), $64.45 (10 day moving average), $63.55 & $63.39/share & overhead resistance at the $66.05 & $66.68/share price levels from the past 52 weeks.
World Equities (URTH), Risk Parity (RPAR), Pharmaceuticals (PPH) & Sweden (EWD) Are All Bearishly Lagging The Markets
URTH, the iShares MSCI World ETF has lost -10.15% over the past year, falling -12.09% (ex-distributions) from their 52 week high in April 2022.
URTH ETF – iShares MSCI World ETF’s Technical Performance Over The Past Year
Recent trading volumes for URTH have been below average & their RSI is neutral at 51.
Their MACD is slightly bullish, but last week’s candlesticks signal that there is still a downtrend.
Long-term holders will receive 1.61% of distribution as a cushion from losses, but unless trading options, it would be wisest to wait for URTH to get on more stable footing before investing.
URTH has support at the $112.56 (10 day moving average), $110.49 (200 day moving average), $110.18 & $109.48/share price levels, with resistance at the $113.62, $114.33, $115.12 (50 day moving average) & $115.20/share price levels.
RPAR, the RPAR Risk Parity ETF has dropped -15.48% over the past year, losing -16.03% (ex-distributions) from their 52 week high achieved in March 2022.
RPAR ETF – RPAR Risk Parity ETF’s Technical Performance Over The Past Year
Their recent trading volumes have been below average & their RSI is neutral, signaling that investors are not certain as to where they value RPAR’s shares.
Their MACD looks to be losing speed, which may bring near-term entry points for investors who don’t mind losing beyond their 3.85% annual distribution.
For those that do mind, they are optionable, which can be used to generate profits while waiting for a more appropriate entry-point.
RPAR has support at $19.25 (10 day moving average), $19.05, $19.01 & $18.81/share, with resistance at $19.42, $19.45 (50 day moving average), $19.54 & $19.61/share.
PPH ETF – VanEck Vectors Pharmaceutical ETF’s Technical Performance Over The Past Year
Their RSI is approaching neutral again & recent trading volumes have been far below average compared to the year prior.
PPH has a 1.59% distribution for long-term share holders, and has options that can be traded while waiting for a more secure entry point.
PPH has support at the $74.64 (10 day moving average), $74.54 (200 day moving average), $73.64 & $73.40/share price levels, with resistance at the $76.19, $76.89 (50 day moving average), $77.59 & $78.19/share price levels.
EWD, the iShares MSCI Sweden ETF has lost -11.71% of its value over the past year, shedding -14.93% since its high of March 2022.
EWD ETF – iShares MSCI Sweden ETF’s Technical Performance Over The Past Year
Friday’s gap down will prove interesting, as their MACD was on the verge of crossing over bullishly, but with low trading volumes it is hard to gauge investor sentiment on the move.
Their RSI is on the oversold end of neutral at 43, and there looks to be more near-term losses on the horizon, which can present entry point opportunities for long-term investors.
However, unless their 3.57% distribution is the only protection from loss that you require, it would be wisest to wait & see how they behave at their support levels.
EWD has support at the $32.47, $32.13 (200 day moving average), $31.97 & $31.96/share price levels, with resistance overhead at the $33.68 (10 day moving average), $34.04, $34.05 & $34.71/share price levels.
Tying It All Together
This week we have lots of data coming in, with the exception of Monday which will be a quiet day minus Fed. Governor Jefferson speaking at 5pm.
Tuesday will be busy, with Advanced U.S. Trade Balance In Goods, Advance Retail Inventories & Advance Wholesale inventories at 8:30 am, followed by the S&P Case-Schiller Home Price Index & FHFA Home Index Price data at 9 am & U.S. Consumer Confidence & Fed Gov. Barr testifying before the Senate about banks at 10 am.
Wednesday brings us Pending US Home Sales data at 10 am, which will also be when Barr testifies to the House on banks.
Thursday features GDP (2nd revision), Initial Jobless Claims & Continuing Jobless Claims at 8:30 am, with Boston Fed President Collins speaking at 12:45 pm.
Friday too will be busy, with 8:30 am having a line up featuring Person Income (nominal), Personal Spending (nominal), PCE Index, Core PCE Index, PCE (Y-o-Y) & Core PCE (Y-o-Y) at 8:30, followed by the Chicago Business Barometer at 9:45 am.
At 10 am Friday the UMich Consumer Sentiment (final) data will be released & at 3:05 the NY Fed President Williams speaks, as well as Fed Governors Cook & Waller speaking in the evening (5:45 & 10 pm).
See you back here next week!
*** I DO NOT OWN SHARES OR OPTIONS CONTRACT POSITIONS IN SMH, IYW, SIL, DFJ, URTH, RPAR, PPH, or EWD AT THE TIME OF PUBLISHING THIS ARTICLE ***
Oracle Corp. stock trades under the ticker ORCL & has shown recent bullishness that traders & investors should research further into.
ORCL stock closed at $87.90/share on 3/22/2023.
Oracle Corp. ORCL Stock’s Technical Performance Broken Down
Oracle Corp. ORCL Stock’s Technical Performance Over The Past Year
ORCL Stock Price: $87.90
10 Day Moving Average: $85.59
50 Day Moving Average: $87.65
200 Day Moving Average: $77.22
RSI: 54.5
MACD: -0.253
Yesterday, ORCL stock completed a bullish MACD crossover, gaining +0.37% on the day’s session.
Recent trading volumes have been above average compared to the year prior & their RSI is neutral, but their recent candlesticks signal there will be more weakness in the near-term, which can give traders & investors more favorable entrypoints.
ORCL stock has support at the $87.65 (50 day moving average), $85.87 & $85.59/share price levels, as they try to break out & above their $90.67 & $99.63/share resistance levels.
Oracle Corp. ORCL Stock As A Long-Term Investment
Long-term oriented investors will like ORCL stock’s 28.14 P/E (ttm).
They recently reported 17.9% Quarterly Revenue Growth Y-o-Y, with -18.2% Quarterly Earnings Growth Y-o-Y, which prospective investors may want to look further into.
Their balance sheet will also require a more thorough examination, with $8.77B of Total Cash (mrq) & $91.81B of Total Debt (mrq).
ORCL stock pays a 1.55% dividend, which appears to be sustainable in the long-run as their payout ratio is 42.24%.
43.54% of ORCL stock’s outstanding share float is owned by institutional investors.
Oracle Corp. ORCL Stock As A Short-Term Trade Using Options
Traders with shorter time horizons can trade options to profit from price moves in ORCL stock, while protecting their portfolios from volatility.
I am looking at the contracts with the 4/21 expiration date.
The $87.50, $85 & $87 call options are all in-the-money, listed from highest to lowest level of open interest.
The $90, $88 & $89 puts are also all in-the-money, with the former being more liquid than the latter strikes.
Tying It All Together
ORCL stock has many interest attributes that traders & investors are sure to find appealing.
Investors will like their P/E (ttm) & sustainable dividend yield.
Traders will like their liquid options & recent technical performance.
Overall, it is worth taking a closer look into how ORCL stock fits into your portfolio strategy.
*** I DO NOT OWN SHARES OR OPTIONS CONTRACT POSITIONS IN ORCL STOCK AT THE TIME OF PUBLISHING THIS ARTICLE ***
Aon Corp. stock trades under the ticker AON & has shown recent bullish behavior that traders & investors should research further into.
AON stock closed at $300.47/share on 3/20/2023.
Aon Corp. AON Stock’s Technical Performance Broken Down
Aon Corp. AON Stock’s Technical Performance Over The Past Year
AON Stock Price: $300.47
10 Day Moving Average: $296.13
50 Day Moving Average: $310.04
200 Day Moving Average: $290.02
RSI: 47.95
MACD: -4.097
Yesterday, AON stock completed a bullish MACD crossover, gaining +1.31% on the day’s session.
Their RSI is neutral & recent trading volumes have been above average compared to the year prior, as they try to recover from losses incurred in earlier 2023.
AON stock has support at the $296.35, $296.13 (10 day moving average) & $294.47/share price levels, with resistance at the $302.17, $310.04 (50 day moving average) & $314.09/share price levels.
Aon Corp. AON Stock As A Long-Term Investment
Long-term oriented investors will like AON stock’s 24.45 P/E (ttm).
Before investing, it would be wise to look closer into their recently reported growth metrics, with 1.6% Quarterly Revenue Growth Y-o-Y & -23.9% Quarterly Earnings Growth Y-o-Y.
Their balance sheet will also require a more thorough review, with $1.03B of Total Cash (mrq) & $11.68B of Total Debt (mrq).
AON stock pays a modest 0.74% dividend, which appears to be sustainable in the long-run as their payout ratio is 18.04%.
87.24% of AON stock’s outstanding share float is owned by institutional investors.
Aon Corp. AON Stock As A Short-Term Trade Using Options
Traders with shorter time horizons can trade options to profit from AON stock’s price movements, while protecting their portfolio from volatility.
I am looking at the contracts with the 6/16 expiration date.
The $300, $290 & $260 call options are all in-the-money, listed from most to least liquid strike price.
The $310, $320 & $330 puts are also all in-the-money, listed from highest to lowest level of open interest.
Tying It All Together
AON stock has many interesting attributes that traders & investors will find appealing.
Investors will like their P/E (ttm) & modest, but sustainable dividend.
Traders will like their recent technical performance.
All-in-all, it is worth taking a closer look into how AON stock fits into your portfolio strategy.
*** I DO NOT OWN SHARES OR OPTIONS CONTRACT POSITIONS IN AON STOCK AT THE TIME OF PUBLISHING THIS ARTICLE ***
Cintas Corp. stock trades under the ticker CTAS & has shown recent bullishness that traders & investors should research further into.
CTAS stock closed at $441.79/share on 3/20/2023.
Cintas Corp. CTAS Stock’s Technical Performance Broken Down
Cintas Corp. CTAS Stock’s Technical Performance Over The Past Year
CTAS Stock Price: $441.79
10 Day Moving Average: $435.29
50 Day Moving Average: $438.99
200 Day Moving Average: $419.13
RSI: 53.25
MACD: -1.033
Yesterday, CTAS stock completed a bullish MACD crossover, gaining +2.09% on the day’s session.
Their RSI is neutral & recent trading volumes have been below average compared to the year prior, as they have spent much of 2023 in a consolidation range.
CTAS stock has support at the $439.46, $438.99 (50 day moving average) & $438.41/share price level, with resistance at the $447.88, $453.01 & $463.47/share price levels.
Cintas Corp. CTAS Stock As A Long-Term Investment
Long-term oriented investors will like CTAS stock’s 35.48 P/E (ttm), but will find their 12.92 P/B (mrq) to be a bit too high.
They recently reported 13.1% Quarterly Revenue Growth Y-o-Y, with 10.1% Quarterly Earnings Growth Y-o-Y.
Their balance sheet will require a deeper examination, with $89.9M of Total Cash (mrq) & $3.1B of Total Debt (mrq).
CTAS stock pays a 0.97% dividend, which appears to be sustainable in the long-run, as their payout ratio is 34.17%.
66.92% of CTAS stock’s outstanding share float is owned by institutional investors.
Cintas Corp. CTAS Stock As A Short-Term Trade Using Options
Traders with short-term time horizons can trade options to profit from CTAS stock’s price movements, while protecting their portfolios from volatility.
I am looking at the contracts with the 5/19 expiration date.
The $430, $420 & $400 call options are all in-the-money, listed from highest to lowest levels of open interest.
The $460, $480 & $450 puts are also all in-the-money, with the former being more liquid than the latter strikes.
Tying It All Together
CTAS stock has many interesting attributes that traders & investors will find appealing.
Investors will like their recent growth metrics & modest, but stable dividend.
Traders will like their recent technical performance & liquid options.
Overall, it is worth taking a closer look into how CTAS stock fits into your portfolio strategy.
*** I DO NOT OWN SHARES OR OPTIONS CONTRACT POSITIONS IN CTAS STOCK AT THE TIME OF PUBLISHING THIS ARTICLE ***
On Friday, WMT stock completed a bullish MACD crossover, gaining +0.81% on the day’s session.
Recent trading volumes have been above average compared to the year prior & their RSI is neutral after their price has spent the last couple of months in a consolidation range.
WMT stock has support at the $138.04 (10 day moving average), $137.17 & $135.76 (200 day moving average), as they look to break out & above their $140.24, $141.60 & $141.68 (50 day moving average) resistance levels.
Walmart, Inc. WMT Stock As A Long-Term Investment
Long-term oriented investors will like WMT stock’s 32.7 P/E (ttm), but may find their 4.91 P/B (mrq) to be a bit too rich.
They recently reported 7.3% Quarterly Revenue Growth Y-o-Y, with 76.2% Quarterly Earnings Growth Y-o-Y.
Their balance sheet will require a more thorough review, with $8.89B of Total Cash (mrq) & $58.92B of Total Debt (mrq).
WMT stock pays a 1.62% dividend, which appears to be sustainable in the long-run, as their payout ratio is 52.46%.
33% of WMT stock’s outstanding share float is owned by institutional investors.
Walmart, Inc. WMT Stock As A Short-Term Trade Using Options
Traders with a short-term time horizon can trade options to profit from WMT stock’s price movements, while protecting their portfolios from volatility.
I am looking at the contracts with the 4/14 expiration date.
The $138, $139 & $137 call options are all in-the-money, listed from most to least level of open interest.
The $140, $142 & $141 puts are also all in-the-money, with the former strike being more liquid than the latter two.
Tying It All Together
WMT stock has many interesting charactertistics that traders & investors will find appealing.
Investors will like their dividend yield, as well as their P/E (ttm), but may want to review their balance sheet more thoroughly.
Traders will like their recent technical performance & how liquid their options are.
All-in-all, it is worth taking a closer look to see how WMT stock fits into your portfolio strategy.
*** I DO NOT OWN SHARES OR OPTIONS CONTRACT POSITIONS IN WMT STOCK AT THE TIME OF PUBLISHING THIS ARTICLE ***
KB Home stock trades under the ticker KBH & has shown recent bullishness that traders & investors should research further into.
KBH stock closed at $35.28/share on 3/17/2023.
KB Home KBH Stock’s Technical Performance Broken Down
KB Home KBH Stock’s Technical Performance Over The Past Year
KBH Stock Price: $35.38
10 Day Moving Average: $35.20
50 Day Moving Average: $36.10
200 Day Moving Average: $31.29
RSI: 47.81
MACD: -0.244
On Friday, KBH stock completed a bullish MACD crossover, despite losing-0.7% on the day’s session.
Their RSI is neutral & recent trading volumes have been about average, as they have spent the last month in a consolidation range.
KBH has support at the $35.20 (10 day moving average), $34.82 & $34.43/share price levels, as they look to break out & above their $35.34, $36.04 & $36.10 (50 day moving average) resistance levels.
KB Home KBH Stock As A Long-Term Investment
Investors with long-term time horizons will like KBH stock’s valuation metrics, with a 3.86 P/E (ttm) & a 0.81 P/B (mrq).
They recently reported 15.8% Quarterly Revenue Growth Y-o-Y, with 24.2% Quarterly Earnings Growth Y-o-Y.
Their balance sheet will require a more thorough examination, with $328.5M of Total Cash (mrq) & $1.87B of Total Debt (mrq).
KBH stock pays a 1.69% dividend, which appears to be sustainable in the long run, as their payout ratio is 6.6%.
95.3% of KBH stock’s outstanding share float is owned by institutional investors.
KB Home KBH Stock As A Short-Term Trade Using Options
Short-term oriented traders can use options to profit from KBH stock’s price movements, while protecting their portfolio from volatility.
I am looking at the contracts with the 4/21 expiration date.
The $35, $33 & $34 call options are all in-the-money, listed from highest to lowest level of open interest.
The $36, $37 & $38 puts are also all in-the-money, with the former being more liquid than the latter strikes.
Tying It All Together
KBH stock has many interesting attributes that traders & investors are sure to like.
Investors will like their valuation metrics & dividend yield, but may want to take a closer look into the makeup of their balance sheet.
Traders will like their recent technical performance, as well as their liquid options.
Overall, it is worth taking a closer look into KBH stock to see how it fits into your portfolio strategy.
*** I DO NOT OWN SHARES OR OPTIONS CONTRACT POSITIONS IN KBH STOCK AT THE TIME OF PUBLISHING THIS ARTICLE ***
SPY, the SPDR S&P 500 ETF gained +1.06% over the past week, as a week dominated by bank crisis headlines & data points provided a volatile trading week for stocks.
SPY ETF – SPDR S&P 500 ETF’s Technical Performance Over The Past Year
The individual candlesticks of the week look as though the market spent much of the week expecting a dovish Federal Reserve announcement this upcoming week, only to be brought back to reality Friday where Thursday’s high’s were not touched.
SPY’s RSI is between neutral & oversold at 44, and all eyes will be on their MACD, as it has flattened out & looks ready to cross over bullishly next week, after a week of heavier than average trading volume.
SPY has support at the $389.38 (200 day moving average),$388.28, $387.13 & $383.60/share price levels, which will be important to watch this week.
Their nearest resistance levels are at the $391.81 (10 day moving average), $398.27, $398.35 (50 day moving average) & $401.76/share price levels.
QQQ, the Invesco QQQ Trust ETF that tracks that NASDAQ gained +6.26%, as traders & investors adopted a more dovish Federal reserve sentiment which would benefit the technology heavy NASDAQ, while others piled in to add additional momentum leading to its outperformance of the other index ETFs this week.
QQQ ETF – Invesco QQQ Trust ETF’s Technical Performance Over The Past Year
While Friday’s candlestick’s shadow went above Thursday’s high, it does not show much strength & conviction behind the week’s movement.
QQQ’s RSI is between neutral & overbought at 59, and their MACD bullishly crossed over during the past week, trading on above average volume compared to the year prior.
QQQ has support at $304.69, $304, $297.45 (10 day moving average) & $296.17/share, with resistance at $309.78, $312.64 & $313.68/share.
IWM ETF – iShares Russell 2000 ETF’s Technical Performance Over The Past Year
Their trading volumes were higher than average compared to the year prior, and their RSI is about to slip into oversold territory at 31 as their MACD is in freefall downward.
IWM’s support levels of $170.38, $170.34, $169.67 & $167.42 will be important to watch this upcoming week & their resistance levels overhead are the $173.31, $175.27, $175.78 & $176.48/share price levels.
Let’s dive into some of the top & bottom performing sectors & geo-locations based on this week’s technical rating data!
Turkey (TUR), Technology (XLK), Video Games & eSports (ESPO) & Spain (EWP) Are All Bullishly Leading The Market
TUR, the iShares MSCI Turkey ETF has gained +85.74% over the past year (ex-distributions), and is +98.25% from their low in July 2022.
TUR ETF – iShares MSCI Turkey ETF’s Technical Performance Over The Past Year
Long-term holders receive an extra 2.08% as additional distribution yield if they hold the ETF for one year.
Recent trading volumes for TUR have been volatile, after experiencing two gap ups in February 2023 & fluttering around in consolidation for most of the time since & their RSI is neutral.
Their recent bearish MACD crossover signals that there will be further consolidation in the near-term, which provides opportunities for long-entries or for options traders to profit from volatility in their price.
TUR has support at the $34.54, $34.49 (50 day moving average), $34.21 & $32.11/share price levels, with overhead resistance at the $36.15, $37.08, $37.17 & $38.17 (52 week high)/share price levels.
XLK ETF – Technology Select Sector SPDR Fund ETF’s Technical Performance Over The Past Year
Their recent trading volumes have been above average compared to the year prior, but their RSI is approaching overbought territory as it draws nearer to 70.
XLK recently had a bullish MACD crossover, but investors & traders would be wise to wait to see how they react to the $144.59 resistance level before entering a position, as their 0.9% annual distribution yield does not provide much cushion for support.
There are opportunities for options traders to profit from the price movements in XLK during this time.
XLK has support at the $142.72, $142.30, $139.71 (10 day moving average) & $138.93/share price levels, with resistance at the $144.59, $147.96 & $151.05/share levels.
ESPO ETF – VanEck Vectors Video Gaming & eSports ETF’s Technical Performance Over The Past Year
Their RSI is neutral & recent trading volumes have been below average compared to the previous year, but they have had a bullish MACD crossover within the past week.
With a 1.13% distribution yield as a cushion, long positions may be best to wait on establishing until we see how they react to their resistance levels, but options traders have opportunities for near-term profits.
ESPO has support at the $49.38, $49.08, $49.00 & $48.30 (10 day moving average) price levels, with resistance overhead at the $50.32, $51.12, $51.32 & $52.53/share price levels.
EWP ETF – iShares MSCI Spain Capped ETF’s Technical Performance Over The Past Year
After a gap down earlier this past week their RSI is dove down to nearing oversold territory (<30 level) & their MACD has turned bearish, all on lighter than average trading volumes.
EWP offers a 2.88% distribution yield for long-term holders annually, but unless trading options, it appears best to wait & see how they behave around their other, older gaps & support levels in wake of this recent decline.
EWP has support at the $25.77, $25.65, $25.50 & $24.68/share price levels, with resistance at the $26.85 (50 day moving average), $26.89 (10 day moving average) & $27.97/share price levels.
Real Estate (DRN), Cannabis (POTX), Energy (ERX) & South Korea (KORU) Are All Bearishly Lagging The Market
DRN ETF – Direxion Daily Real Estate Bull 3x Shares ETF’s Technical Performance Over The Past Year
Their recent trading volumes have been above average & their RSI is approaching oversold territory.
DRN’s MACD is beginning to flatten out due to a week of consolidation after their most recent move downwards, and they offer a 3.01% distribution yield for long-term holders.
However, some addition protection from put options may be wise to have in the near-term.
DRN has support at the $8.50, $8.49, $7.83 & $7.33/share price levels, with overhead resistance at the $9.09, $9.23, $9.31 & $9.55 (10 day moving average).
POTX, the Global X Cannabis ETF has lost -67.26% over the past year, including a -74.57% from their 52 week high in March of 2022 (ex-distributions).
POTX ETF – Global X Cannabis ETF’s Technical Performance Over The Past Year
They’ve seen a steady decline over the past year & as a result their RSI is in oversold territory.
Their MACD has also been in a smooth downtrend since the beginning of February, with trading volumes being relatively average compared to the year prior.
POTX only has support at the $9.00 price level for the past 52 weeks, and while they offer a 3.93% distribution yield as a cushion to long-term holders of 1 year+, it would be wisest to trade options until there is more price stability, using the profits to enter a long-term position once they’ve stabilized more.
POTX has resistance at the $9.72 (10 day moving average), $10.43, $11.34 (50 day moving average) & $11.65/share price levels.
ERX ETF – Direxion Daily Energy Bull 2x Shares ETF’s Technical Performance Over The Past Year
A decline throughout March 2023 has led their RSI into oversold territory, with their MACD also being in a downtrend.
Recent trading volumes have been below average, signaling that there is still uncertainty around their value & there will likely be more near-term volatility to come.
ERX’s 2.98% distribution yield provides some downside protection for long-term holders, but given where their support levels are in relation to gaps that need to be filled on the way down, the best approach to this name in the near-term is using an options strategy.
ERX has support at the $48.21, $47.96, $46.37 & $44.36/share price levels, with resistance at the $51.16, $51.41, $51.80& $53.62/share price levels.
KORU ETF – Direxion Daily South Korea Bull 3x Shares ETF’s Technical Performance Over The Past Year
They’ve been declining for the better part of Q1 2023 on higher than average volumes compared to the year prior.
KORU’s RSI is midway between neutral & oversold, with their MACD about to make a bullish crossover, but resistance overhead signals that this may not be a sustainable upside move.
With limited cushion from their 0.47% distribution yield, waiting for a more solid entry time or using options to navigate the volatility would be the best strategy here.
KORU has support at the $7.70 (also their price level), $7.57, $7.50, $7.39 & $7.17/share price levels, with resistance at the $7.86, $7.89 (10 day moving average), $8.00 & $8.08/share price levels.
Tying It All Together
The week ahead promises to be interesting, mostly due to the Federal Reserve’s Interest-Rate Decision on Wednesday at 2pm.
Monday has no major data points to be reported, followed by Existing Home Sales at 10 am on Tuesday.
Wednesday we also get Fed Chairman Powell’s Press Conference after the interest-rate decision announcement.
Thursday we will head U.S. Current Account Data, as well as Initial Jobless Claims & Continuing Jobless Claims at 8:30 am, followed by New Home Sales data at 10 am.
Friday wraps up the week with Durable Goods data at 8:30 am, as well as S&P Global Flash U.S. Services & Manufacturing PMI data at 9:45 am.
We’ll still be dealing with the fallout of the SVB collapse, as well as how it is impacting other smaller banks, as well as getting more insight into the Credit Suisse situation.
It all promises to be nothing short of interesting.
See you back here next week!
*** I DO NOT OWN SHARES OR OPTIONS CONTRACT POSITIONS IN SPY, QQQ, IWM, TUR, XLK, ESPO, EWP, DRN, POTX, ERX or KORU AT THE TIME OF PUBLISHING THIS ARTICLE ***
Atmos Energy Corp. stock trades under the ticker ATO & has shown recent bullishness that traders & investors should research further into.
ATO stock closed at $114.34/share on 3/16/2023.
Atmos Energy Corp. ATO Stock’s Technical Performance Broken Down
Atmos Energy Corp. ATO Stock’s Technical Performance Over The Past Year
ATO Stock Price: $114.34
10 Day Moving Average: $112.01
50 Day Moving Average: $113.99
200 Day Moving Average: $111.41
RSI: 53.26
MACD: -0.667
Yesterday, ATO stock completed a bullish MACD crossover, gaining +0.49% on the day’s session.
Recent trading volumes have been about average compared to the year prior & their RSI is neutral, as prices fight to break back above where they were in mid-February.
ATO stock has support at the $113.99 (50 day moving average), $113.30 & $112.01/share price levels, as they try to break out & above their $114.66, $115.51 & $116.96/share resistance levels.
Atmos Energy Corp. ATO Stock As A Long-Term Investment
Long-term oriented investors will like ATO stock’s 19.56 P/E (ttm) & their 1.61 P/B (mrq).
They recently reported 46.5% Quarterly Earnings Growth Y-o-Y, with 9.1% Quarterly Revenue Growth Y-o-Y.
Their balance sheet will require a deeper review before investing, with $279.43M of Total Cash (mrq) & $8.75B of Total Debt (mrq).
ATO stock pays a 2.44% dividend, which appears to be sustainable in the long-run, as their payout ratio is 49.2%.
93.91% of ATO stock’s outstanding share float is owned by institutional investors.
Atmos Energy Corp. ATO Stock As A Short-Term Trade Using Options
Traders with shorter time horizons can trade options to profit from ATO stock price movements, while protecting their portfolios from market volatility.
I am looking at the contracts with the 4/21 expiration date.
The $110, $100, $105 & $90 call options are all in-the-money, listed from highest to lowest level of open interest.
The $29 puts are also in-the-money.
Tying It All Together
ATO stock has many interesting attributes that traders & investors will find interesting.
Investors will like their valuation metrics, as well as their sustainable dividend yield.
Traders will like their recent technical performance, but may be disappointed by how liquid their options are.
All-in-all, it is worth taking a closer look into ATO stock to see how it fits into your portfolio strategy.
*** I DO NOT OWN SHARES OR OPTIONS CONTRACT POSITIONS IN ATO STOCK AT THE TIME OF PUBLISHING THIS ARTICLE ***
HCA Healthcare, Inc. stock trades under the ticker HCA & has shown recent bullishness that traders & investors should research further into.
HCA stock closed at $254.38/share on 3/16/2023.
HCA Healthcare, Inc. HCA Stock’s Technical Performance Broken Down
HCA Healthcare, Inc. HCA Stock’s Technical Performance Over The Past Year
HCA Stock Price: $254.38
10 Day Moving Average: $249.14
50 Day Moving Average: $253.18
200 Day Moving Average: $218.65
RSI: 54.68
MACD: -0.915
Yesterday, HCA stock completed a bullish MACD crossover, gaining +3.04% on the day’s session.
Recent trading volumes have been about average compared to the year prior & their RSI is neutral, after they’ve spent much of March in a consolidation range.
HCA stock has support at the $253.18 (50 day moving average), $250.60 & $249.14/share price levels, as they look to try to break out & above their $256.67, $263.46 & $263.98/share price level.
HCA Healthcare, Inc. HCA Stock As A Long-Term Investment
Long-term oriented investors will like HCA stock’s 13.15 P/E (ttm).
They recently reported 2.9% Quarterly Revenue Growth Y-o-Y, with 14.7% Quarterly Earnings Growth Y-o-Y.
Their balance sheet will require a more thorough examination before investing, with $1B of Total Cash (mrq) & $40.2B of Total Debt (mrq).
HCA stock pays a modest 0.9% dividend, which appears to be sustainable in the long-run, as their payout ratio is 11.7%.
66.1% of HCA stock’s outstanding share float is owned by institutional investors.
HCA Healthcare, Inc. HCA Stock As A Short-Term Trade Using Options
Investors with shorter time horizons can trade options to profit from HCA stock’s price movements, while protecting their portfolio from volatility.
I am looking at the contracts with the 4/21 expiration date.
The $250, $240 & $245 call options are all in-the-money, listed from highest to lowest level of open interest.
The $260, $255 & $265 puts are also all in-the-money, with the former strike being more liquid than the latter two.
Tying It All Together
HCA stock has many interesting attributes that traders & investors are sure to find appealing.
Investors will like their P/E (ttm) & modest, but sustainable dividend yield.
Traders will like their recent technical performance & liquid options.
Overall, it is worth taking a closer look into HCA stock to see how it fits into your portfolio strategy.
*** I DO NOT OWN SHARES OR OPTIONS CONTRACT POSITIONS IN HCA STOCK AT THE TIME OF PUBLISHING THIS ARTICLE ***
