Global stocks: Three stocks with great upside potential

Published October 24, 2018

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US markets had a slightly rough day yesterday, with DJIA, S&P500 and Nasdaq all down between the range of 0.4 and 0.55 per cent. On the other hand, a few stocks are holding on with a strong grip and would not let go, while some are gearing up to rise. Overall they seem to be stronger than the rest of the market.

Philip Morris International Inc. (PM.US500) Close: 88.50

Philip Morris International Inc. reported its Q3 numbers on 18/10/2018.
The stock has broken out of the falling trend in the medium term, which indicates a slower falling rate in the beginning. A buy signal is initiated by the means of a positive break out from a double bottom formation and through the resistance around 87.00 dollars, both in the medium and long term charts. A trend change may be expected here and further rise to 97.00 dollars or more is signaled.
Recently volume has been higher with the rising prices and lower with price corrections. This is a positive sign. Additionally, the momentum indicator RSI is rising and trying to catch up with the rising price. Another sign of strength.
Next resistance is at 103.00 or 16 % higher than yesterday's close, while support is between 87.00 and 82.00 dollars. The stock is overall assessed as technically positive for the medium to long term.
Investtech's outlook (one to six weeks): Positive

Pacific Gas & Electric (PCG.US) Close: 47.29

Pacific Gas & Electric Co. shows strong development within a rising trend channel in the medium term. This signals increasing optimism among investors. The stock has given a buy signal from a double bottom formation as the price broke up through resistance at 46.80 both in the medium and long term. Further rise to 54.56 or more is signaled.
Upside potential in the stock is big as the next level of resistance is around 60.00 dollars (or about 29 %) and 69.00 dollars which is equivalent to 47 % higher from last close.
The stock is currently testing support at dollar 47.00. This could give a positive reaction if buyers decide to jump into the stock and give it a positive energy.
There is support around 45.00 which can be used as a potential stop loss. A close below this level may lead to a crack in PCG share price. The stock is overall assessed as technically positive for the medium term.
Investtech's outlook (one to six weeks): Positive

Verizon Communications (VZ.US) Close: 57.21

Verizon Communications stock price has gone up by over 23 % in the past six months. Investors have paid higher prices over time to buy Verizon Communications Inc and the stock is in a rising trend channel in the medium term. This signals increasing optimism among investors. Volume balance and momentum-RSI indicators are also positive, further supporting the rising prices.
The stock initiated a new buy signal as it advanced through the resistance and the rectangle formation by breaking the 54.90 levels. There is no clear resistance neither on the medium or the long term graph, but in case of any correction there is support around 55.00-53.20 dollars.
Investtech's outlook (one to six weeks): Positive

 

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

 

The analyses are based on closing price as per October 23, 2018.

Skrivet av

Kiran R. Shroff
Analytiker
i Investtech

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Investtech garanterar inte fullständigheten eller korrektheten av analyserna. Eventuell exponering utifrån de råd / signaler som framkommer i analyserna görs helt och fullt på den enskilda investerarens räkning och risk. Investtech är inte ansvarig för någon form för förlust, varken direkt eller indirekt, som uppstår som en följd av att ha använt Investtechs analyser. Upplysningar om eventuella intressekonflikter kommer alltid att framgå av investeringsrekommendationen. Ytterligere information om Investtechs analyser finns på infosidan.

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