Ukraine War is making everyone nervous but the market is so oversold that lots of stocks now refuse to go down. The market is also pricing the end of the pandemic by chasing Home Away stocks to new highs. Some Corporate Executives have started buying stocks of their own companies. Also, big influential investors seem to be building positions in EV stocks. No wonder most of them are up today. Here are a few interesting price action case studies/opportunities in Large-cap space. I will also update new observations during the day.
Why I will buy ASAN Asana?
Here’s one stock that seems to be defying gravity and is up 40% just over the last 5 days. Why – Because Asana CEO is buying the stock like crazy. He has done the single largest insider buying ever. He bought stocks worth $1.1 billion…wow. When an insider is this confident about the company, then it becomes a crazy buy. Having said that, you never know but for now, the stock looks good. The risk continues to be there.
Las Vegas Sands finally making a move
The covid pandemic is over. China’s clarity on licensing rules caused a Gap up move last month and now with interest in Home Away stocks, the trade is finally making a strong move.
Zillow ~ Extremely Ovserold Earnings Gap up play
Zillow as a company was doing great till it decided to flip houses and made a terrible mistake and lost a ton of money. Now the company has recognized its mistake and shut down that business. The company core business once again looks great. The stock was oversold and hence one can see strong buying in the stock.
Expedia ~ Home Away Buy post-earnings
Covid pandemic has become endemic. Today, Covid vaccine stocks are in free fall but one key Home Away stock Expedia is trading at an all-time high and ready to surge higher
Expedia reported adjusted earnings of $1.06 a share (expectations of 60 cents/share) on revenue of $2.3 billion. As people look to travel, this stock is making a new high. I will add it to my portfolio.
Earnings to watch today ~ Avis CAR
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purposes. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers
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