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.
It’s the favorite time of the year for traders.
The end of the year usually presents unusually large bullish moves in the stock market.
However, with more than 6,000 stocks to choose from, deciding which stocks to trade can be overwhelming.
Therefore, I’ve shortlisted 2 stocks that I think are poised to soar.
Before I share the counters that I’ve shortlisted, let’s have a look at the stocks shared last month – Ally Financial and Flex.
Although I was anticipating the shares of Ally Financial to pump, the market had other ideas. Its share price fell and there was no entry signal.
Phew! That’s money saved.
On the other hand, there was a buy signal in late September 2024 for the shares of Flex. And its share price jumped!
Let’s shift our attention back to the 2 stocks I’ve shortlisted for October 2024.
Berkshire Hathaway Class B (NYSE: BRK.B)
Source: https://www.berkshirehathaway.com/
1. About the Company
Berkshire Hathaway is probably the most famous company in the world.
It is also probably the most read about company.
Founded in 1839 as a textile manufacturer, Berkshire Hathaway had undergone several mergers and acquisitions to become the conglomerate we are familiar with.
With the legendary investor, Warren Buffett, at the helm of the company, should you consider buying its shares for a position trade?
2. Position Trading (Daily)
To decide whether buying the class B shares of Berkshire Hathaway for a position trade is a wise, let’s examine its price chart.
Can you tell that the chart of Berkshire Hathaway’s class B share price is on a massive uptrend?
This can be told without the need of a moving average or trendline.
How?
By inferring from the number of blue candles (outlined and solid). When the number of blue candles (outlined and solid) outnumber the number of red candles (outlined and solid), we are looking at an uptrend.
Before you hit the Buy button, it’s a good idea to pay attention to the 2 main indicators on the chart – the green arrow and Trend Impulse Factor indicator.
The presence of a green arrow under its latest candle suggests that a fresh bullish move is here.
Next, let’s see what the Trend Impulse Factor suggests.
Because its bar is not in dark green yet, this bullish move is unlikely to sustain for the time being.
Therefore, you’ll want to wait for its bar to turn dark green before buying the class B shares of Berkshire Hathaway for a position trade.
I sense that this will occur in the coming days, so keep this in your watchlist and be prepared.
Kroger (NYSE: KR)
Source: krogerstories.com/ourhistory
1. About the Company
Kroger is another storied company.
Founded in 1883, Kroger started off as a single grocery store.
Very quickly, it began opening chains across the US. Its fast growth was due to putting its customers at the center of everything.
Presently, the company has more than 2,500 stores in the US.
With this huge growth and excellence, should you buy its shares for a position trade?
2. Position Trading (Daily)
Let’s examine the price chart of Kroger to find out whether buying its shares for a position trade is a wise choice (without the need of technical tools such as trendlines and support and resistance).
Based on the colors of the candles, you can tell that the blue candles (solid and outlined) outnumbers the red candles (solid and outlined). Knowing that Kroger’s share price is in an uptrend, it’s time to look at the 2 proprietary indicators – the green arrow and Trend Impulse Factor.
Did you notice a green arrow under its latest candle?
This suggests that a fresh bullish move is here!
Before you buy its shares, let’s have a look at the color its Trend Impulse Factor indicator. Is it dark green in color?
Yes, it is! This indicates that this bullish move is likely to be sustainable.
Therefore, the time to buy its shares for a position trade is here!
Conclusion
Berkshire Hathaway and Kroger are well-established companies with stories to tell.
The share price of both companies are on the rise and are excellent candidates for a position trade.
Based on the proprietary indicators, only Kroger’s shares are ready.
The time to buy class B shares of Berkshire Hathaway for a position trade could appear soon.
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 me below!
