Mid-Week Update: Another Hit Trade to Kick Off the New Year
Dear Trader,
We begin this week and the new year with a hit trade in Electronic Arts Inc. (EA).
This leading online and electronic game company continues to benefit from the high growth in demand for games, fueling revenue and asset values for the company.
The stock hit its target price at $136.02 this week for a great start for the year for Burst Alerts Pro subscribers.
But beyond the hit trade for EA, we also have a strong collection of stocks that are in the works to provide gains for you at the right levels.
For the latest market analysis, be sure to check out today’s session recording on our website.
Now, on to the stocks on the Watchlist this week…
Walmart Inc.
Walmart Inc. (WMT) is the massive discount retailer with expansive brick and mortar locations combined with an increasingly larger online business.
Retail demand in the US and beyond continues to be strong. And the company continues to be innovative in its supply chain operations to keep its store and warehouse shelves stocked.
We’ve made some profitable trades in the stock, and we’re coming back for another round.
The WMT daily time frame is in a large sideways range. The market is near the bottom of the range showing signs of U-turning bullish.
The one hour time frame broke the short-term downtrend line and entered into the buy zone.
Per the Watchlist, we have a target price for WMT at $148.51.
iShares Russell 2000 ETF
The iShares Russell 2000 ETF (IWM) is the ETF that tracks the Russell 2000 Index of US listed small-cap companies and their stocks.
We have been bullish on the small-fry stocks in the US market for a while, and the market conditions recently set the trade up again for this ETF.
The IWM daily time frame is in an up channel. The market is near the bottom of the channel showing signs of pushing bullish towards the top of the channel.
The one hour time frame broke the short-term downtrend line and entered into the buy zone.
Per the Watchlist, we have a target price for IWM at $239.86.
Invesco Solar ETF
Invesco Solar ETF (TAN) is an ETF that tracks a leading index of global companies in the solar power market.
The companies are involved in all stages and components of solar power from basic materials and equipment to services and are not just limited to the US.
The TAN daily time frame is in a down channel. The market hit the bottom of the channel and is showing signs of pushing bullish towards the top of the channel.
The one hour time frame broke the short-term downtrend line and entered into the buy zone.
Per the Watchlist, we have a target price for TAN at $93.61.
Silvergate Capital Corporation
Silvergate Capital Corporation (SI) is the La Jolla, California-based bank holding company.
It operates as a traditional banking company but has its real focus on providing services to the numerous technology companies in California and beyond.
With technology companies thriving, its services are in demand, aiding revenue.
And with shorter-term US interest rates set to rise to more normal levels, it should aid the banking company in improving interest margins between its liabilities (including deposits) and its assets (loans).
The SI daily time frame is in an up trend. The market is at a low price hitting the up trend line.
The one hour time frame broke the short-term downtrend line and entered into the buy zone.
Per the Watchlist, we have a target price for SI at $184.56.
Get The Full Rundown
To get the latest updates on these stocks and the markets that you need to know about, be sure to check out today’s session recording on our website.
And to get the full rundown on all of our stocks, click here.
Keep on trading,
Josh Martinez
Editor, Burst Alerts Pro