Hi everyone.
On 24/5/2023, our system had provided a few stock picks and the results are as below:
RVN – (Buy) – Profit
CCJ – (Buy) – Profit
LTHM – (Buy) – Loss
The blue-chip Dow Jones reached its 7-week lows to close more than 250 points lower on Wednesday, while the S&P 500 and the Nasdaq slid 0.7% and 0.6% respectively, as concerns grew over the ongoing struggle among U.S. lawmakers to reach an agreement on the country’s debt ceiling, raising fears of a potential default. House Speaker Kevin McCarthy stated that negotiators remained at odds on spending caps, blaming the Democrats for entering the discussion late. And Treasury Secretary Janet Yellen warned of a “highly likely” default in early June.
Let’s review our stock pick on Wednesday.
A call for buy for RIVN which resulted in a profit. Our system entered the market at $13.75 and the price hit our TP at $13.90. The stock price went up throughout the whole market session, so if you did not exit at our TP, you would have been able to profit at the highest price of $14.41.
Rivian Automotive, Inc. designs, develops, manufactures, and sells electric vehicles and accessories. The company offers five-passenger pickup trucks and seven-passenger sports utility vehicles.
A call for buy for CCJ which resulted in a profit. Our system entered the market at $27.65 and the price hit our adjusted TP at $27.85.
Cameco Corporation provides uranium for the generation of electricity. It operates through two segments, Uranium and Fuel Services. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate.
A call for buy for LTHM which resulted in a loss. Our system entered the market at $24.64 and the price hit our stop loss at $24.04. The price fell down early in the market session and was congested until later in the market.
Livent Corporation manufactures and sells performance lithium compounds primarily used in lithium-based batteries, specialty polymers, and chemical synthesis applications in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. The company offers lithium compounds for use in applications that have specific performance requirements, including battery-grade lithium hydroxide for use in high performance lithium-ion batteries; and butyllithium, which is used in the production of polymers and pharmaceutical products, as well as a range of specialty lithium compounds, including high purity lithium metal, which is used in non-rechargeable batteries and the production of lightweight materials for aerospace applications.
Stay tuned for more of our stock picks.
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