Good day everyone.
On 06/07/2022, our system had provided a few picks and the results are as below:
SNOW (Buy) – Withdrawn
BZ (Buy) – Withdrawn
BABA (Buy) – Profit
US market on Wednesday traded in the greens after the FOMC June policy meeting didn’t reveal any major surprises. S&P 500 and Nasdaq Composite posted their third straight day of gains, rising 0.36% and 0.35%, respectively. The Dow also climbed 0.23% for its second positive session in three.
Let’s review our stock picks on Wednesday.
Call for buy for SNOW which was withdrawn. It was in the right direction but the stock price opened higher than our EP and continued to trade upwards throughout the market.
Snowflake Inc. provides a cloud-based data program in the US and internationally. Recently, the shares of Snowflake Inc (NYSE: SNOW) have received a $200 price target from Jefferies. And Jefferies analyst Brent Thill upgraded Snowflake from a “Hold” rating to a “Buy” rating.
Call for buy for BZ which was withdrawn. Our system withdrew because the price open with a gap below our EP before trading downwards throughout the market.
Kanzhun Limited operates an online recruitment platform, BOSS Zhipin in the People’s Republic of China. The company logged a positive beat on revenue and earnings per American depository receipt (ADR) last week.
Call for buy for BABA which resulted in a profit of 0.37%. Our system made a call to take profit at $117.45. The maximum profit you would get is 3% at $120.
Alibaba, a Chinese multinational technology company is currently hot in the news today as Bloomberg released a report that the group is set to apply for a financial holding company license. The initial IPO plan was held back in late 2020 after Alibaba CEO Jack Ma appeared to criticize the Chinese leadership in a speech.
Stay tuned for more of our stock picks.
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