Overnight Moves

Today, we looked at 13 charts; below are only a few. Join us in the morning call on Discord to see it all. Let’s have a look at the overnight moves. Today, we see a market mostly in the red by around 1%. Following the low trade volume of Friday’s market and yesterday’s news headlines of the negotiations between Iran and the U.S. failing, we are likely to see the same wait-and-see market continue into today. Another noteworthy development is Tencent’s (700) 3% drop, which is higher than the rest of the market, which will have an impact on Naspers (NPN) and Prosus (PRX).

S&P 500 Index

The market started a drop today following yesterday’s news. But the drop has been relatively small, and there has been a slight growth, which makes it hard to predict, as neither of the opposing movements have been strong enough to give a clear answer as to whether it’s going to grow or shrink today. We recommend playing it carefully and to keep an eye on headlines coming from the White House. As for specific stocks, we’ve noted Amazon (AMZN) experiencing a strong growth over Friday, and currently standing at around $238 USD, which could potentially make it a good investment for the week.

Tech

Tech stocks have continued to drop since Friday, with software companies such as Oracle (ORCL) and ServiceNow (NOW) dropping significantly. With no factors affecting their revenue sources, we think it’s worth keeping an eye on them, as a sideways move could signal the start of a rotation. A slight contradiction to the trend, in the meantime, has been Palantir (PLTR), which could be a good candidate for a short-term play, as it experienced a bump on Friday following President Trump’s positive remarks about the company’s work for the U.S. government and military.

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*Please note that these trade ideas form part of a larger weekly plan and the value of financial products can increase as well as decrease over time, depending on the value of the underlying securities and market conditions. The risk of loss arising from trading in Contracts for Difference can be substantial. You should carefully consider whether such investments are suitable for you in the light of your circumstances and financial resources.