Vlad’s Top Pot-Stock Is Breaking Out!
RoboStreet – May 28, 2020
S&P Makes A Breakout Move
Another good week for stocks is shaping up. The S&P 500 extended the sharp rally to trade above the 3050 levels. The Dow Jones Industrial Average and Nasdaq Composite are up comfortably, too, while the Russell 2000 continues to lag behind the other major averages.
Shares of Apple Inc. (AAPL) price target raised to $365 from $350 at JP Morgan
Sector rotation has been rapid, moving from stay-at-home sectors to grand reopening sectors and back to the shut-in stocks late this week. The tech sector has benefited from a turnaround in shares of Apple Inc. (AAPL), which had its price target raised to $365 from $350 at JP Morgan.
“I’m investing my own money in each and every stock as my AI platform identifies.”
And remember we’re not talking about day-trading here. I’m looking for 50-100% gains inside of the next 3 months, so my weekly updates are timely enough for you to act.
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Financial sector is up whopping 9.0%
The financial sector is up whopping 9.0% this week and the market, in general, is bucking the rising tension between the U.S. and China after China passed legislation to tighten control over Hong Kong. Initial jobless claims totaled another 2.123 million (above consensus 1.950 million), and Q1 GDP was revised lower to -5.0% (consensus -4.8%) from -4.8% in the advance estimate.
Short term, the market is overbought
Calls for a pullback, or at least a breather, have been muted at the expense of a fear of missing out – that money is pouring in off the sidelines following the S&P retaking its 200-day m.a. Short term, the market is overbought. At this point, I expect only short-term pullbacks. If the SPY trades below $289 level in the next couple of days, there is still a high probability for the market to retest recent lows at $276.
My Tradespoon AI-driven Seasonal Chart is flashing “higher” readings for the next 20, 30, 40, and 50-day periods. These indicators can suddenly change, but at present, the least path of resistance for the market is higher.
VIX current levels are still above the historical average
I expect the market volatility and the three percent daily market moves to persist. At this point, I believe we have set the bottom (market can overshoot support and resistance levels especially when VIX is elevated). I believe the worst part of the sell-off is behind us. Please monitor VIX level as current levels are still above the historical average.
SPY in the range between $275 and $310 for the next 4 weeks
My strategy is to buy 5-10% market corrections. Based on our models, the market (SPY) will trade in the range between $275 and $310 for the next 4 weeks.
Number one stock in the medical cannabis sector – GW Pharmaceuticals ADR
This week, my AI-driven Stock Forecast Toolbox has an “A” rating for the number one stock in the medical cannabis sector – GW Pharmaceuticals ADR (GWPH). The company reported Q1 results on May 5 that were outstanding. Q1 GAAP EPS of -$0.02 beat by $0.05 and revenue of $120.6M (+207.3% Y/Y) beat by $15.5M. Cash flow ops: ($18.6M) (+68.2%).
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The commercial launch of Epidiolex that addresses the seizure category of therapies will also be targeting the market for tuberous sclerosis complex is planned for August (FDA action date: July 31).
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Entry point is looking more attractive
At its current price of $126, the entry point is looking more attractive and I may be adding this position to our RoboInvestor Portfolio in the coming days. Our RoboInvestor advisory service takes positions in only blue-chip stocks and ETFs that are “green-lighted” by my proprietary AI tools, and when confirmed, are added to the portfolio with my investment capital invested in each and every trade.
We have a very strong track record, with a Winnings Trade Percentage of 87.94% over the past 2+ years. As the market has gone through extreme volatility RoboInvestor members have enjoyed a very smooth ride of wealth accumulation.
The best recommendation I can make to readers of this column this week is to join up and subscribe to RoboInvestor and follow my lead to real and consistent profits. Being right about what to buy and when to buy it roughly 90% of the time is not found in any other advisory service anywhere, for any price.
Come alongside me and I’ll be with you on every trade, both in risk and reward. Fortunately, the rewards have far outweighed the risks and I fully intend to keep it that way. RoboInvestor – is the clear and proven path to profits.
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“I’m investing my own money in each and every stock as my AI platform identifies.”
And remember we’re not talking about day-trading here. I’m looking for 50-100% gains inside of the next 3 months, so my weekly updates are timely enough for you to act.
Click Here – To See Where I Put My RoboInvestor Money
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