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.
We are in the last week of April, and technology stocks have generally fared well.
In fact, stocks in the other sectors have also fared well, especially our stock picks in April: Fresenius Medical Care and Linde.
May has traditionally been a tricky month for stocks, but I think that you can benefit from these 2 stock pick analysis, Fortive and International Business Machines.
Let me share why!
Fortive (NYSE: FTV)
1. About the Company
Founded in 2015, Fortive designs, manufactures, and services products and software, globally.
It operates in the scientific & technical instruments space, providing valuable high tech solutions to many sectors, including the healthcare, and industrial sectors.
With more than 16 companies under Fortive, Fortive looks like a force to be reckoned with.
Does its price chart support this stance?
Are the shares of Fortive ready for a long position trade?
Let’s find out in the next section.
2. Position Trading (Daily)
Looking at the chart of FTV, what can you tell?
There isn’t any technical drawings.
No support and resistance lines, trendlines, Fibonacci levels.
Instead, you see 2 main indicators which are sufficient in helping you come to a conclusion – the arrow and Trend Impulse Factor indicators.
Do you notice a green arrow under the latest candle of FTV?
The presence of a green arrow tells you that a new bullish move has occurred.
To increase your chances of success, you’ll want to look at the color of the bar of the Trend Impulse Factor indicator too.
When it’s dark green in color, it tells you that the momentum is likely to continue, enabling you to profit more!
Thus, FTV is not ready for a long position trade yet.
I think that there’s a good chance the opportunity will arise in the next week or so.
International Business Machines (NYSE: IBM)
1. About the Company
International Business Machines, better known as IBM, was founded way back in 1911.
It provides integrated solutions and services, in the software, consulting, infrastructure, and financing space.
As a well-known company, how have its shares been performing?
Let’s have a look at its price chart to find out!
2. Position Trading (Daily)
Here, you don’t see any technical drawings because they aren’t necessary.
As with FTV, you’ll want to see the appearance of an arrow at its latest candle.
You’ll also want to see a dark green bar of its Trend Impulse Factor indicator.
Shall we first spot if there’s an arrow?
I see a red arrow above the latest candle of IBM.
This tells you and me that this is a new bearish move for IBM.
However, is this bearish move likely to continue for some time?
This can be inferred from the color of its Trend Impulse Factor indicator which is in light green.
Therefore, it’d be best not to rush to short the shares of IBM just yet.
FTV and IBM belong to the technology sector, but both have contrasting price trends.
The share price of FTV is trending higher while the share price of IBM is trending lower.
One glance at the 2 main indicators suggest that both are not ripe for a position trade just yet.
However, I think that this could change soon. Hence, you should watch both FTV and IBM in the month of May
Given the more volatile environment we are in, it’s a great idea to place a stop loss level to protect your trading capital. There’s no need to hold onto a losing stock on the way down as there are many more strong and uptrending stocks.
Trading stocks without a proper system can be highly risky. This is why TGPS 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 us below!
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