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. Today the focus is on steel stocks, which have been on a run to start 2018, and how the breakouts were forecasted back in November. 

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 advance.

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. 

This Week's Hot Stocks

Humana 
Humana Inc (NYSE: HUM) had a predictive moving average crossover to the upside in late-December, indicating a bullish trend. Since that crossover, the stock is up over 16 percent and has reached repeated 52-week highs. 
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Home Depot
Home Depot Inc (NYSE: HD) is no stranger to the Hot Stocks Outlook. It was covered a few weeks ago, and that trend has continued. Since the stock's bullish crossover in early November the stock is up nearly 25 percent. As long as the two moving average lines don't cross, that trend will remain intact. 
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Genuine Parts
Genuine Parts Company (NYSE: GPC) follows the same logic. The bullish crossover in December, plus the Neural Index's shift to predominantly green, indicates near-term bullishness. The stock is up 12 percent in 2018. 
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Oracle
Oracle Corporation (NYSE: ORCL) initially sold off after it's Q2 earnings report, but has since regained all those losses and then some. The stock had a bullish crossover to start the year, and is up over 8 percent since. It'll look to break its all-time high from back in September this week.  
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Best Buy 
Best Buy Co Inc (NYSE: BBY) really had a great run to the upside with no indication of slowing down. The crossover happened in late November. Despite a period of consolidation in early January, that uptrend continued. Since that crossover of the blue line 40 trading days ago, the stock is up almost 35 percent.
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Watch the full Hot Stocks Outlook 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.

Posted-In: vantagepointLong Ideas Markets Movers Trading Ideas General

 

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