Market Overview

5 Stocks To Watch This Week

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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 prices over the next 48 hours.

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's movement over the prior two days is a source of strength or weakness, and can confirm a trend. 

Federated Investors Inc (NYSE: FII)

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Federated Investors had a bullish crossover on Nov. 17 (represented by the blue line crossing above the black line), and rose 20 percent over the final six weeks of 2017. But that trend appears to be over. The stock had a bearish crossover (the blue line crossed below the black line) on Dec. 29, and the stock is down about 3 percent to start the year.

Notably, the Neural Index at the bottom of the chart has turned red, confirming the short-term bearishness. 

FII did have a quadruple top at $35 in the first half of December, so that will be a level to keep an eye on.

AmerisourceBergen Corp. (NYSE: ABC)

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Amerisource Bergen also had a crossover to the upside in the mid-November. This indicated to traders that a bullish trend was beginning. Despite several red candles to close the year, and a brief bearish crossover on Dec. 29, the bullish trend does appear to remain intact. 

Nucor Corporation (NYSE: NUE)

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Nucor also had a bullish crossover in late-November. Despite a period of consolidation at the beginning of that crossover, the trend has remained intact. This meant that traders knew, with confidence, that the bullish trend was expected to continue. Nucor has had two up days to start 2018.

Reliance Steel & Aluminum Co (NYSE: RS)

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Reliance Steel & Aluminum follows a similar pattern. It had that crossover to indicate that the bullish trend was starting. The Neural Index also moved to the one position, confirming short-term strength. The stock is up $2 to start the year. 

Alcoa Corp (NYSE: AA)

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Alcoa had a fantastic December, rising over 20 percent in the last month of 2018. It had a crossover to the upside early in the month and didn't look back. Despite some bearish action early in Wednesday's session, the bullish trend remains strong. 

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.

Posted-In: vantagepointLong Ideas Short Ideas Technicals Previews Markets Trading Ideas General

 

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