Good day everyone.
On 22/6/22, our system had provided a few picks and the results are as below:
BABA (Buy) – withdrawn
ZM (Buy) – withdrawn
BIDU (Buy) – withdrawn
URBN (Sell) – Profit (Live)
US markets opened lower, boosted by Fed Chairman Powell’s testimony regarding the Fed’s commitment to bring down inflation in the country. Despite that, the market still closed lower and stocks remain volatile throughout.
Let’s review our system’s stock picks.
Call for buy for BABA which was withdrawn. The price opened lower than our EP when the market opened before it inched upwards in the right direction. However, the stock price movement remained sideways throughout the remaining market and closed lower than the previous day.
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.
Call for buy for ZM which was withdrawn. The price opened lower than our EP before hitting it and continuing its upwards trend. If you were following the stock, you would be profiting 3.23% from the trade.
Zoom Video Communications Inc. is a communications company based in San Jose, California. On the trading day, Zoom had just rolled out its new Zoom One suite of subscription services. The overall outlook for ZM stock is positive as it will surely draw interests from businesses in the future.
Call for buy for BIDU which was withdrawn. Similarly with BABA, our system withdrew the stock because the stock opened with a price gap before it traded sideways . If you had followed the stock and made a trade, you would currently still be in the market as the price did not hit our TP.
Baidu Inc. is another company in China that specializes in Internet-related services and products, including Artificial Intelligence. The company stock price has gained over 12% in the past month and will be approaching its next earnings report date.
Call for sell for URBN during live market which resulted in profit. Our system made the right call as the stock continued its downward trend throughout the market. If you had followed this stock, you would have made a profit of 1.01% or a maximum of 1.7% from the trade.
Urban Outfitters Inc. is a multinational lifestyle retail corporation based in Philadelphia, Pennsylvania. The company has lost nearly a third of its value this year and appear to still be bearish due to the rising inflation and more discounting in specialty apparel.
Stay tuned for our next stock picks review!
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