3 Bullish Stocks And 2 Bearish Stocks To Watch This Week

Below are five stocks to watch according to VantagePoint, a platform that uses artificial intelligence and intermarket analysis to predict price movement. 

What's On The Charts

• Each candle on the following stock charts represents one day of trading action.
• The black line on the chart is a simple 10-day moving average.
• The blue line is generated via the AI in VantagePoint's intermarket analysis. It forecasts what the moving average will be 48 hours in advane.

A trend shift is represented by the two lines crossing. As long as the two lines don't cross, the current trend remains intact.

• The red/green bar below the candle chart is a Neural Index. It determines whether a stock will move higher or lower in the coming two days. 

Methanex Corporation (USA) MEOH

Methanex had a predictive moving average crossover to the upside on November 20 when the blue line crossed above the black line, indicating a bullish trend. The methanol company has also been helped by increased earnings estimates in recent weeks.

You can see on the chart above that the stock has been in a strong bullish trend, save for several brief periods of short-term downside. Since that bullish crossover, the stock is up about 22 percent. 

Abraxas Petroleum Corp. AXAS

Abraxas petroleum had a crossover to the upside of its own on December 18. Since that date the stock is up 16 percent to its highest levels since January 2017. 

PDC Energy Inc PDCE

PDC Energy had a bullish crossover on December 11, and has looked very strong since. Despite a period of slight consolidation at the beginning of the run, the predicted moving average (the blue line) has never crossed below the 10-day moving average (black line). This shows that the trend will continue. The stock is up 18 percent since the initial trend change, and was also named one of the top picks for 2018 by research firm Stephens. 

Portland General Electric Company POR

Portland General Electric Company has followed the opposite pattern. It had a crossover to the downside on December 5, and is down about 10 percent since. 

On that day the 10-day moving average crossed above the predicted moving average line. The Neural Index, which forecasts price movement two days in advance, has been mostly red since then. This downtrend comes in spite of the fact that the company recently approved a 0.89 percent increase in prices. 

FirstEnergy Corp. FE

FirstEnergy also had a crossover to the downside, this one on November 22. Even though the trend has nearly reversed several times, once December 12 and once on January 2, the two moving averages have not crossed. So we know the downtrend is still intact. 

Since the initial crossover the stock is down 11 percent.

Watch the full Hot Stocks Outlook in the video below. 

About the Hot Stocks Outlook

The Hot Stocks Outlook is a weekly series. It’s designed to show traders how improving their timing is the key to maximizing gains and minimizing losses. VantagePoint Trading Software identifies trend reversals with up to 86 percent accuracy, helping traders get into the right side of trades at just the right time.

VantagePoint is an editorial partner of Benzinga.