Hi everyone.
On 19/08/2022, our system had provided a few picks and the results are as below:
DVN – (Buy) – Withdrawn
PDD – (Sell) – Profit
US stocks traded down on Friday, pressured by the outlook of aggressive monetary tightening by the Federal Reserve. The Dow lost nearly 300 points, while the S&P 500 and the Nasdaq fell 1.3% and 2%, respectively.
Let’s review our stock picks on Friday.
Call for buy for DVN which was withdrawn but the call was made in the right direction. Our system withdrew because the price opened with a gap above our EP before trading upwards and hitting our TP.
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 PDD which resulted in a profit. The stock hit our EP and continued its downward trend. If you were following the stock, our system would have advised you to take profit @ 46.21, which is our trailing stop loss. However, if you didn’t take profit last night, you will still be in the market and seeing a profit.
Pinduoduo Inc. operates a large e-commerce platfrom in People’s Republic of China. The company had posted positive first-quarter result recently, where total revenues increased by 7% and the average monthly users in the quarter rose by 4%.
Stay tuned for more of our stock picks.
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