Global stocks: 3 buying opportunities

Published September 4, 2018

S&P 500, NASDAQ and OMXSPI.ST, to name a few, are some of the indices across the globe that are around their all time highs. The driving force is certainly confidence among investors and hope to earn a little extra. Let's have a look at a few bets that can give positive returns in the short to medium term, which is a 0-3 month period.

Cisco Systems (CSCO.NA) Close: 47.77


Investors have paid higher prices over time to buy Cisco Systems and the stock is in a rising trend channel in all three time frames, short, medium and long term. Since February the stock was trading more sideways until yesterday when the stock marginally broke out from a rectangel formation. A close over will confirm the breakout and indicates further increase in price for Cisco Systems.
Earlier the stock has been rising on high volume, while corrections were accompanied by low volumes. This is indicated by the positive volume balance indicator. Further the momentum indicator RSI is over 70 and is a sign of strength.
There is currently no resistance shown in the medium term chart, hence the sky is the limit. However there is support around 45.70 dollars.
This stock is listed on NASDAQ and is traded in USD.
Investtech's recommendation: Buy

 

Twitter Inc (TWTR.NY) Close: 35.18


Social Networking giant Twitter Inc is in a rising trend channel in the medium term. Rising trends indicate that the company experiences positive development and that buy interest among investors is increasing.
In the last couple of months the stock has corrected from its high and taken support around 31.30. It is currently trading under a resistance around 36.60. A close above this level may take the stock to its previous high of around 47 dollars or higher. While a close below 31.30 may trigger fresh selling.
The volume balance is positive and strengthens the stock. The stock is overall assessed as technically slightly positive for the medium long term.
Twitter Inc is listed on NYSE and is traded in USD.
Investtech's recommendation: Weak Buy

 

ABB (ABB.ST) Close: 215.10 


Swedish multinational ABB is in a rising trend channel in the long term, but has been more sideways in the medium term chart. Since 2017, the ABB stock price has moved between support around 187 and resistance around 227 kroner.
A double bottom formation has been established via breakout around 215 kroner and gives a price target of 241 or more. Underlying buying strength is indicated by positive volume balance, shown by green arrows in the right bottom corner of the chart. RSI is over 70 and indicates strong momentum. All these parameters give positive weightage to the stock price.
There is resistance around 227 kroner, which is also an earlier top. A breakout and close above this level would be a new buy signal and may trigger fresh buy for ABB.
ABB is listed on multiple world indices. Here we refer to one that is listed on  the Stockholm Stock Exchange in Sweden and is traded in Swedish kroner.
Investtech's recommendation: Buy

 

Our analysis is majorly based on trend, as it is said, ‘trend is your best friend’, with more focus on the medium term chart. We also take into account price formations and volume, and momentum indicators. More can be read about Investtech's research at www.thetrendbible.com.

Note: These stocks are traded in currency based on the country they are listed on.

 

 

The analyses are based on closing price as per September 3, 2018.

Skrevet af

Kiran R. Shroff
Analytiker
i Investtech

"Investtech analyserer psykologien i markedet og giver dig konkrete tradingforslag hver dag."

Espen Grønstad
Partner & Senior Advisor - Investtech
 


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Investeringsanbefalinge(r)n(e) er udarbejdet af Investtech.com AS ("Investtech"). Investtech garanterer ikke for fuldstændigheden eller rigtigheden af analysen. Eventuel eksponering i forhold til de råd / signaler, som fremkommer i analyserne, står helt og holdent for investors regning og risiko. Investtech er hverken direkte eller indirekte ansvarlig for tab, der opstår som følge af brug af Investtechs analyser. Oplysninger om eventuelle interessekonflikter vil altid fremgå af investeringsanbefalingen. Yderligere information om Investtechs analyser findes på infosiden.

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