Global stocks: Three buy opportunities for short to medium term

Published April 24, 2019

The market moved up Tuesday, and S&P 500 (SP500) ended at 2934 points, which is an increase of 0.88 percent. The index thereby broke the previous record from September 2018 and set a new all time high. The index has thereby closed up 15 out of the past 18 days.

We have three interesting stocks that have good potential in the near term future.

Blackrock Inc. (BLK.US) Close: 474.03

Investors have paid higher prices over time to buy Blackrock Inc. and the stock is in a rising trend channel in the medium term. This signals increasing optimism among investors.

After falling by almost 40 per cent in 2018 the stock has recently given a buy signal from an inverted head and shoulders formation and has broken above the resistance level at 448 dollars both in the medium and long term on high volume. Further rise to 543 or more is signalled.

The stock is now above resistance around 470 which is a positive sign. The overall trend is supported by strong momentum and positive volume balance. There is support around 443 and 420 levels. The stock is overall assessed as technically positive for the short to medium term.

Investtech's outlook (one to six months): Buy

Prudential Financial, (PRU.US500) Close: 103.66

Prudential Financial, Inc. has broken through the ceiling of a falling trend channel and is now trading above the resistance of 100 dollars both in the medium and the long term charts. Further rise in price is suggested. There is resistance around the 106 level which makes the stock a weak buy instead of a clear buy. An established break and close above this level may initiate fresh buying in the stock.

The short term volume balance indicator is positive which indicates that buyers have been more aggressive than the sellers and are pushing the price higher. There is support at 100 and 93 dollars.

Investtech's outlook (one to six months):  Weak Buy

Intercontinental Excha (ICE.US500) Close: 80.53

Intercontinental Exchange Inc shows strong development within a rising trend channel in all time frames; short, medium and long term. This signals increasing optimism among investors and indicates continued rise.

The stock has support at 77.20-75.70 dollars and resistance at dollar 81.70. The short term momentum of the stock is strongly positive, with RSI above 70. This indicates increasing optimism among investors and further price increase for Intercontinental Exchange Inc. The stock is overall assessed as technically positive for the medium to long term.

Investtech's outlook (one to six months): Buy

The analyses are based on closing price as per April 24, 2019

Note: These instruments are traded in currency based on the exchange or country they are listed on.