Hi everyone.
On 22/08/2022, our system had provided a few picks and the results are as below:
DVN – (Buy) – Profit
LPX – (Sell) – Withdrawn
The main US stock indices fell sharply on Monday, extending the decline from the previous week with losses in all sectors, as investors braced for a prolonged period of rate hikes following hawkish remarks from FOMC members last week. The Dow closed 640 points lower to notch its worst session since June, while the S&P 500 and the Nasdaq lost 2.1% and 2.6%, respectively.
Let’s review our stock picks on Monday.
Call for buy for DVN which resulted in a profit. The stock hit our EP and continued its upwards trend. If you were following the stock, our system would have advised you to take profit @ 67.38. However, if you didn’t take profit last night, you will still be in the market and seeing a loss.
Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates approximately 5,134 gross wells. Devon Energy Corporation was incorporated in 1971 and is headquartered in Oklahoma City, Oklahoma.
Call for sell for LPX which was withdrawn but the call was made in the right direction. Our system withdrew because the price opened with a gap below our EP before trading downwards and hitting our TP.
Louisiana-Pacific Corporation, together with its subsidiaries, manufactures and markets building products primarily for use in new home construction, repair and remodeling, and outdoor structure markets.
Stay tuned for more of our stock picks.
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