Top 5 stocks to trade this week

Top 5 stocks to trade this week

2020-07-22 • Dikemaskini

The earnings season adds fresh volatility to the stock market. We picked up the best stocks of the best for you. Check them out. 

Tesla

Indeed, this tech giant has performed greatly in 2020. The stock price has risen from $389 to $1 500 since March 18 of this year. Moreover, you have a great chance to gain on it soon as its earnings report will be released at 00:30 MT time on July 23. If it marks the profit again (for the fourth consecutive quarter already), Tesla will be included in the prestigious S&P 500 index. Some analysts say without any hesitation that it’s a done deal already. The stock may even rise ahead of the earnings reports – only on the optimistic expectations. Follow the release and go long, if the earnings report is better than expected, and go short, if worse. There is the resistance at $1 645. If it crosses it, it will reach new record highs. However, the move below the key psychological mark at $1 500 will push Tesla lower to the next support at the low of July 8 at $1 365.

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Amazon

Amazon is engaged in all the segments, which were in a high demand during the coronavirus: e-commerce, online delivery, cloud computing and digital streaming. Moreover, it holds the leading positions in most of them. It has even entered the healthcare sector with its online pharmacy. Recently, analysts from Goldman Sachs increased their target price on Amazon up to $3 800.  The stock soared by 7.9% after that positive news. It will release its Q2 earnings report on July 31 at 00:30 MT time. Don’t miss out as it will have a huge impact on the stock price. Let’s look at the chart. Today Amazon contacted. It may meet soon the support at the $ 3 100 level, which it has broken down on July 13. The move below this level will drive the price lower to the key psychological mark at $3 000.

AMAZONDaily.png

Microsoft

Microsoft is a frontrunner among all the software companies. Also, it’s the second best provider of the cloud computing services after Amazon. The tech company is a member of a prestigious IBD Long-Term Leaders list, that consists of stocks that have an incredible reputation of long-term gains. The move above the all-time high at $216.50 will push the price to new records. Support levels are at $203 and $195. The earnings report will be release at the same time as Tesla – at 00:30 MT time on July 23. Use this opportunity to take profit on both stocks!

MICROSOFTDaily.png

Intel

Intel is one of the largest semiconductor companies in the world. It gained on the solid PC demand during the second quarter as it leads the market for PC chips. The stock price has approached the support at the 50-day moving average at $60.50. The move below this level will push the price down to the low of July 26 at $57.50. Resistance levels are at $64.50 and $68.5. According to the Bank of America, this earnings report should beat all estimates. It will report its Q2 earnings on July 24 at 00:00 MT time. Follow up the release!

INTELDaily.png

AT&T

AT&T is a reliable telecommunications company. It increased its dividends for over 30 years. Its revenues decreased by 4.6% year over year in the first quarter. Of course, it was caused by the coronavirus damage. However, this company made all efforts to keep on track – it launched its own version of streaming service, via HBO Max. Moreover, the company will get an additional tailwind from the 5G technology as more and more cities and countries roll it out. In the daily chart we can notice that the stock price has approached the resistance at the 50-day moving average at $30.30. If it breaks it through, it will surge to the next resistance at the high of June 6 at $31.8. Support levels are $29 and $28. AT&T will release its earnings report on July 23 at 15:30 MT time. Don’t miss out!

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Check the economic calendar

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  1. Download the Metatrader 5 .
  2. Open the MT5 account in your personal area.
  3. After that, open all trading instruments by clicking “show all” at the “Market Watch” window.
  4. Start trading!

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