AIRESCAN Stock Review (23/6/22)

Good day everyone.

On 23/6/22, our system had provided a few picks and the results are as below:

BABA  (Buy) – withdrawn

TPR  (Sell) – Loss (1.11%)

Bidu (Buy) – Loss (0.96%)

According to reports, Thursday had been an all-around great trading session for the US market, with both S&P 500 Index and Dow Jones Industrial Average rising 0.95% and 0.64% respectively. The market closed high with gains from defensive sectors (Utilities, Staples, REITs, and Healthcare), while Financials and Commodity continued their downward trends.

Let’s review our system’s stock picks.

Call for buy for BABA which was withdrawn. The price opened with a gap and hit our TP before trading sideways throughout the market.

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 sell for TPR which hit our Stop Loss. Consumer defense sector was clearly one of the winners in Thursday’s sessions and contributed to the gains in the whole market.

Tapestry Inc is an American multinational luxury fashion holding company and is the parent company of three major brands: Coach New York, Kate Spade New York and Stuart Weitzman.

Call for buy for BIDU during live session. The call was in the right direction but the stock price hit our Stop Loss first before inching upwards, resulting in a loss. If you followed the market, the price would eventually go back to EP (as shown in image) and hit TP, which would have reversed the loss with some gains.

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.

Stay tuned for our next stock picks review!