Hi everyone.
On 16/5/2023, our system had provided a few stock picks and the results are as below:
MRVL – (Buy) – Profit
MRVL – (Buy) – Break-even
TPX – (Buy) – Loss
The Dow Jones lost over 330 points on Tuesday, while the S&P 500 and the Nasdaq dropped 0.6% and 0.2%, respectively, as investors became concerned about the health of the US economy. Treasury Secretary Janet Yellen stated yesterday that the US is already witnessing a substantial increase in borrowing costs for Treasury securities maturing in early June due to the lack of agreement on the issue.
Let’s review our stock picks on Wednesday.
A call for buy for MRVL which resulted in a profit. Our system entered the market at $41.94 and the price hit our adjusted SL at $41.87. Another call for MRVL resulted in a break-even. Our system exited within the stringent stop loss policy implemented when the price drop before it recovered and went back up again. If you didn’t exit at our SL, you would still be able to profit from the trade.
Marvell Technology, Inc., together with its subsidiaries, provides data infrastructure semiconductor solutions and spanning the data center core to network edge. The company develops, scales complex System-on-a-Chip architectures, integrating analog, mixed-signal, and digital signal processing functionality. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; custom application specific integrated circuits; and System-on-a-Chip solutions.
A call for buy for TPX which resulted in a loss. Our system entered the market at $38.39 and the price hit our SL at $38.10. Our system exited within the stringent stop loss policy implemented when the price dropped. The stock only recovered in the second half of the market session and still below the previous day’s price.
Tempur Sealy International, Inc., together with its subsidiaries, designs, manufactures, markets, and distributes bedding products in the United States and internationally. It provides mattresses, foundations and adjustable foundations, and adjustable bases, as well as other products comprising pillows, mattress covers, sheets, cushions, and various other accessories and comfort products under the Tempur-Pedic, Sealy, Stearns & Foster, and Cocoon by Sealy brand names.
Stay tuned for more of our stock picks.
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