On 29/6/22, our system had provided a few picks and the results are as below:
SLB (Buy) – Loss
M (Sell) – Withdraw
The market went through choppy trading before closing flat to higher, with the Dow up 73 points, while NASDAQ and S&P 500 ended roughly flat. Tech stocks and consumer staples recovered from their downside trading while materials and chipmakers weighed down.
Let’s review our system’s stock picks.
Call for buy for SLB which resulted in a loss. The stock opened higher than previous day close with a gap and touched our EP when it went down. The price then went up again and almost hit our TP (Missed TP by $0.09) before falling down and hitting our SL.
Schlumberger Limited is an oilfield services company. It provides technology for the energy industry worldwide. The shares of the company have gained 45% since the beginning of the year, pushed by surging benchmark oil and gas and the geopolitical uncertainty associated with the Russia-Ukraine war.
Our system made two calls for sell for M which were withdrawn. The stock opened with a gap lower than previous day close and continued to trade downwards throughout the market.
Macy’s Inc. is an omni-channel retail organization, operates stores, Websites and mobile applications. Macy has survived through Covid-19 lockdowns through strategic planning. Sales in 2021 were $25.3 billion, with 35% of sales coming from digital sales.
Stay tuned for our next stock picks review.
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