Here’s another edition of our chart-based weekly with our FinTwit friend Rhum.
Every week he breaks down charts from some of the hottest tickers out there. These charts will show you some of the most hyped-up names of the week, and maybe even a few that might be good buying opportunities.
If you like the charts, don’t forget to support Rhum and his blog for his hard work and don’t hesitate to send in any chart requests either.
DOC – Testing Support
Cloud MD Software & Services [stock_market_widget type="inline" template="generic" color="default" assets="DOC.CN" markup="(CSE: {symbol} {currency_symbol}{price} ({change_pct}))" api="yf"] was set up with a nice up and handle. However, unfortunately, the company saw the same sell-off as the rest of the market — watch for a break in the downtrend for signs of a recovery.
GLD – Will the “Safe Haven” Hold?
While everyone still considers gold as the “safe haven” asset, the recent bear market has not been kind to the yellow metals. With interest rates falling lower and more QE announced, it will be important to watch this week’s reaction.
NNO – Solid Signals In Choppy Market
Nano One Materials Corp. [stock_market_widget type="inline" template="generic" color="default" assets="NNO.V" markup="(TSXV: {symbol} {currency_symbol}{price} ({change_pct}))" api="yf"] is showing positive signals — if they hold up in this choppy market it could be good for a run. With the company freshly cashed up and in the R&D phase, they are less likely to feel the effects of COVID-19.
SPY – Oversold with Stimulus on the Way
With the Fed dropping interest rates to zero and announcing $700 billion of stimulus on the way, the S&P 500 may see a turnaround from last week’s collapse.
