This article is for education purposes only, and not to be taken as advice to buy/sell. Please do your own due diligence before committing to any trade/investment.
Are you a soccer fan?
More specifically, a Liverpool fan?
Congratulations if you are! Your team has just won its 20th English top-flight title, equaling the record held by Manchester United.
This is a remarkable feat!
There’s something else that’s as remarkable – the resilience of the US stock market.
Despite the chaotic political scene in the White House, the US stock market appears to have found a bottom, seeking to recapture lost ground. This bodes well for the 2 stocks that I’ve selected today.
These 2 stocks are well-loved by the bulls, and I think that it’s a good idea to ride this wave of optimism.
Last month, I’d shared 2 shorting opportunities as the market was sliding.
How did they perform? You may want to review them here.
Ok! Let’s analyze these 2 super bullish stocks for May.
Palantir Technologies (NASDAQ: PLTR)
Source: palantir.com
1. About the Company
Palantir Technologies was founded in 2003 by a group of former PayPal employees (often dubbed as the PayPal mafia).
The company’s goal was to help organizations make sense of large datasets by developing data analytics and integration software solutions.
After a short while, its products gained wide recognition, allowing the company to partner with other industry giants. This resulted in its rapid growth and its expansion into other industries such as healthcare and finance, and countries.
As much as Palantir Technologies is a darling of Wall Street, should you be considering buying its shares for a position trade?
Let’s find out.
2. Position Trading (Daily)
Looking at the chart of Palantir Technologies, can you tell that traders and investors adore the company’s shares?
This can be easily inferred from its might uptrend, which can be told by comparing the number of blue candles (outlined or solid) against the number of red candles (outlined or solid).
You won’t need to put on Moving Averages or draw trendlines to help you decide. When there are more blue candles, it indicates that the stock is in an uptrend.
Seeing that the shares of Palantir Technologies are in a solid uptrend, you’ll want to be on the lookout for a buying opportunity.
This brings me to the 2 proprietary indicators I have on my chart – the green arrow and Trend Impulse Factor.
Do you notice a green arrow under the latest candle of Palantir Technologies?
This tells us that a fresh bullish move is here!
Before I get carried away, let’s have a look at what the Trend Impulse Factor tells us.
Its bar is dark green in color. What does this mean?
This means that there’s momentum in this fresh bullish move, increasing my odds of success.
So, yes! The time to buy its shares for a position trade is ripe!
VeriSign (NASDAQ: VRSN)
Source: verisign.com
1. About the Company
VeriSign is a technology company that provides domain name registry and Internet infrastructure services.
Founded in 1995, the company got off to a strong start. It had invented proprietary technology and signed up big names such as IBM and CompuServe as its customers.
The company has also gone through many serious challenges such as the Dotcom crash in 2000, and the Global Financial Crisis in 2008.
Ever since, the company has gotten stronger and market participants have generally been optimistic.
Is there a position trading opportunity?
2. Position Trading (Daily)
Without the need for Moving Averages or other charting tools, can you tell that the share price of VeriSign is in a mighty uptrend?
This can be easily inferred from comparing the number of blue candles (outlined or solid) against the number of red candles (outlined or solid). When the majority of the candles are in blue, the stock is in a strong uptrend.
To increase your chances of success, look for a buying opportunity.
But, timing is important. You don’t want to get stuck with a stock that doesn’t bring you a return.
To help you better time your entry, 2 proprietary indicators have been formulated. They are the green arrow and Trend Impulse Factor.
With the sight of the green arrow under the latest candle of VeriSign, this is a fresh bullish move.
Should you rush in to buy its shares for a position trade?
Let’s take a look at what the Trend Impulse Factor indicator suggests.
Do you see that the color of its bar is dark green?
This suggests that this fresh bullish move is likely to be sustained, thus the shares of VeriSign are ripe for a position trade!
Conclusion
Source: unsplash.com
The overall US stock market is recovering. Stocks such as Palantir Technologies and VeriSign have benefited from its recent rise.
Better yet, a fresh bullish move has emerged for these 2 stocks. And these bullish moves are likely to be sustained for some time, as suggested by the Trend Impulse Factor indicator.
With the appearance of the green arrow and the bar of the Trend Impulse Factor indicator having turned dark green, the shares of Palantir Technologies and VeriSign are ripe for a position trade!
Trading stocks without a proper system can be highly risky. This is why the TradersGPS (TGPS) system was created. The indicators will help you determine if a stock is ready for action to be taken. You won’t have to feel in the dark and make wild guesses.
What are your thoughts?
Share your thoughts with me below!
