fbpx
QQQ
+ 0.89
339.46
+ 0.26%
DIA
+ 0.07
344.91
+ 0.02%
SPY
+ 0.75
422.86
+ 0.18%
TLT
-0.23
142.77
-0.16%
GLD
-2.04
179.78
-1.15%

3 Stocks That May Breakout This Week

May 17, 2021 11:44 am
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
3 Stocks That May Breakout This Week

Exxon Mobil Corporation (NYSE:XOM), Procter & Gamble Company (NYSE:PG) and Coca-Cola Company (NYSE:KO) may be about to break out.

The technology sector has been in a steep sell-off. As this happens, a lot of the money coming out of it is flowing into different sectors.

Two of the sectors are energy and consumer staples. Energy stocks are used by investors as inflation hedges, and consumer staples companies will still sell their products even in a week economy.

Resistance is a large group of sellers who are all trying to get the same price. At resistance levels, there is more supply than demand for shares. Buyers can acquire all the shares they need to. There is no fear of pushing the price higher and this is why rallies end when they hit resistance.

But when the stock trades and holds above the resistance level, it means the sellers have finished. The resistance has been broken. With this large amount of supply off of the market, buyers will need to pay higher prices. This is what causes a rally.

If the following resistance levels break, these stocks could make big moves upwards.

See Also: 3 Stocks To Consider As Big Tech Crashes

For Exxon Mobil, the resistance has been at $62.

xom_0.png

PG has run into resistance at the $138 level.

pg_1.png

For Coca-Cola, the resistance has been at $54.50.

ko_0.png

For the latest in financial news, exclusive stories, memes follow Benzinga on Twitter, Facebook & Instagram. For the best interviews, stock market talk & videos, subscribe to our YouTube channel.


Related Articles

3 Stocks To Consider As Big Tech Crashes

\The technology sector has been melting down and lot of the money coming out of it is going into more conservative stocks. read more

Don't Miss these 15 Dividend Kings With 50+ Years Of Dividend Growth

By Bob Ciura read more

Benzinga's Bulls And Bears Of The Week: Apple, Lemonade, Sundial, Tesla And More

Benzinga has examined the prospects for many investor favorite stocks over the past week. The week's bullish calls included electric vehicle makers and the king of e-commerce. Some so-called meme stocks highlight the bearish calls that were seen. read more

RBC Upgrades Coca-Cola's Stock, Says 'Things Have Changed'

The case for turning bullish on Coca-Cola Co (NYSE: KO) is simple: "things have changed," according to RBC. The Coca-Cola Analyst: Nik Modi upgraded Coca-Cola's stock from Sector Perform to Outperform with a price target lifted from $55 to $60. read more