Market Overview

5 Stocks Primed For Upside This Week

5 Stocks Primed For Upside 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 chart represents one day of trading action.
  • The black line on the chart (the lower of the two) is a simple moving average.
  • The blue line is generated via the AI in VantagePoint's intermarket analysis. It forecasts prices moving forward.
  • The green line below the candle chart is a Neural Index. It measures two days' worth of price action and whether a stock's movement over the prior two days is a source of strength or weakness. This can help predict short-term weakness. 
  • A trend shift is represented by the two lines crossing. As long as the two lines don't cross, the trend remains intact.

This Week’s Hot Stocks Outlook

CSX Corporation (NASDAQ: CSX)

CSX had a predictive moving average crossover to the upside just before Thanksgiving, indicating a bullish trend, when blue line crossed above the black line. While Saturday's news of the death of CEO Hunter Harrison just days after he went on medical leave has slowed the stock's momentum, the current uptrend is still intact.  the momentum seems to have stalled of late, the blue line is still above the blue line. That tells traders the uptrend is still in play. Since the initial crossover to the upside, the stock has moved up nearly 14 percent.


Meredith Corporation (NYSE: MDP)

Meredith saw a predictive moving average crossover to the upside in early November, indicating the beginning of a new bullish trend. At that time the stock was around $53, but it has since gapped up to the $70 after its acquisition of Time Inc. The Neural Index also moved into the one position, confirming market strength over the short-term. The stock has moved up more than 35 percent in the last 22 days.


Clorox Co (NYSE: CLX)

Clorox is up over 17 percent since the start of November following a beat on its Q1 earnings report. The stock is now at all-time highs. The considerable separation at times between the blue and black lines shows this trend has been particularly strong. As long as the Neural Index stays in the one position, there will be short-term strength. 


Nike Inc (NYSE: NKE)

Nike makes a return appearance to the Hot Stocks Outlook. The trend we previously featured is still ongoing. The original crossover occurred in mid-October and has seen prices climb more than 24 percent in 40 trading days. In just the last week alone, Nike has jumped more than $4 per share. This is a stock to watch heading into Thursday's earnings after the bell. 


Akamai Technologies, Inc. (NYSE: AKAM)

Though Akamai gapped up on Monday after news of a stake by Elliott Management, we originally highlighted this bullish trend in August when the stock was around $46 per share. Even though the stock has undergone periods of short-term strength and weakness, as evident by the Neural Index changing from 0-1, the trend has never reversed. 


Watch the full Hot Stocks Outlook below.

About the Hot Stocks Outlook

The Hot Stocks Outlook is a weekly video 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.

Posted-In: vantagepointLong Ideas Technicals Markets Trading Ideas Best of Benzinga


Related Articles (AKAM + CLX)

View Comments and Join the Discussion!

Needham Calls Lumentum Its 'Single Best Idea' For 2018 In Optical, Networking

Apple, Akamai, Marriott, Twitter: 'Fast Money Halftime Report' Picks For December 18