Hi everyone.
On 03/08/2022, our system had provided a few picks and the results are as below:
LTHM – (Buy) Loss
MRK – (Sell) Withdrawn
The Dow added over 400 points on Wednesday, while the S&P 500 and Nasdaq rallied 1.6% and 2.6%, respectively, as investors cheered a string of upbeat earnings results from tech-related companies and others alongside positive economic data. The momentum was paced by strength in growth sectors as markets show no fear over geopolitical tensions with China after Pelosi’s trip to Taiwan or mixed earnings and data.
Let’s review our stock picks on Wednesday.
Call for buy for LTHM which resulted in a loss. Our system entered at $25.15 and the stock fell sharply in the first hour to hit our stop loss before trading sideways for the rest of 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. Livent reported earnings on Tuesday, which came in well above estimates. The lithium producer also bumped full-year guidance moderately higher. However, LTHM reversed sharply lower after rising early.
Call for sell for MRK which was withdrawn. Our system withdrew because the price opened with a gap below our EP before trading upwards throughout the market to close at the previous day’s close.
Merck & Co., Inc. operates as a healthcare company worldwide. It operates through two segments, Pharmaceutical and Animal Health. Merck is currently in talks to buy cancer-focused biotechnology company Seagen for $40 billion, which would be Merck’s second major acquisition since 2009.
Stay tuned for more of our stock picks.
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