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.
Did you catch Barbie the movie?
Was it inspiring for you?
I’ve been hearing rave reviews about it and I should catch it soon before it stops screening.
Little did I know that Barbie is owned by 1 of the companies whose stock I’m going to watch closely in the Sept.
Before proceeding in analyzing the 2 stocks that I’m watching, let’s have a review on the stock picks for Aug: Cleveland-Cliffs and Welltower.
Ok, let’s now look ahead and find out if they are ripe for a position trade!
Mattel (NASDAQ: MAT)
1. About the Company
Started in 1945, Mattel’s focus was on creating innovative and creative ways children play.
This spirit of innovation enabled the company to explore marketing partnerships, paving the way to a new way of advertising.
Mattel has grown over the years, expanding its range of toys and refreshing its line whenever necessary.
And yes, this is the company which owns Barbie!
While the history of Mattel sounds great, does its shares make it a good position trading candidate?
Let’s discover it in the next section.
2. Position Trading (Daily)
Without the use of any technical analysis tools such as support and resistance, and trendlines, can you tell that the share price of Mattel is in an uptrend?
You can tell from the trend by comparing the number of red and blue (outlined and solid) candles. When there are more blue candles, the stock price is in a clear uptrend.
Is that all?
Do you notice 2 indicators on the chart: the arrow and the Trend Impulse Factor?
The presence of a green arrow indicates that a new bullish move is here.
Is there a green arrow under the latest candle of Mattel?
Now, let’s have a look at the Trend Impulse Factor indicator.
Its bar is still light green in color, suggesting that this bullish move lacks momentum, a necessary ingredient to keep this bullish move going.
Hence, this stock isn’t ripe for a position trade yet. It’ll be a good idea to keep it in your watchlist.
Workday (NASDAQ: WDAY)
1. About the Company
Workday is a pretty young company, only founded in 2005.
A short 2.5 years later, Workday released its beta version of its application.
Its application was a success, and onboarded more than 100 companies in less than 2 years.
Over the years, the company has been exploring other business products for growth. It has found tremendous success,
The million-dollar question thus is: is it time to buy its shares for a position trade?
Let’s find out!
2. Position Trading (Daily)
After learning how you can read the price trend of a stock, can you tell that the share price of Workday’s shares is in a strong uptrend?
This means that you’ll be inclined to look for buying opportunities.
Looking at the 2 key indicators, do you notice that there’s a green arrow under the latest candle of Workday?
What the Trend Impulse Factor suggest about the sustainability of this new bullish move?
Because its bar is light green in color, there’s no strong momentum.
Therefore, you might want to wait and see.
Both Mattel’s and Workday’s share price are rising, with green arrows appearing under their latest candles. However, this bullish moves are likely to fade away quickly until the color of the Trend Impulse Factor’s bar turns dark green in color.
When momentum is detected, this will increase your chances of success.
Yet, a stop loss is recommended because the US stock market is dynamic and we can get caught off-guard at times.
There’s no need to hold onto a losing stock as there are many position trading opportunities available!
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!
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