Bullish: Economy – It’s not that bad

U.S. retail sales climbed 3% in January, a sharp improvement from December’s 1.1% decline. It was also above the consensus forecasts. This does not look like recession. The market has started feeling good and the traders are back in the market. Growth stocks are making a strong comeback and lots of good quality beaten-down names are up for grabs. I picked 3 stocks yesterday and there has been pretty strong buying today in each one of them. I am adding a few more names to the list

Why do I like Doximity DOCS?

DOCS is a social media networking platform built exclusively for U.S. healthcare professionals. With roughly 80% of the nation’s physicians already signed up, it is one of the most powerful platforms to advertise and reach out to healthcare providers. The top 20 pharmaceutical companies and the top 20 hospital systems all have contracts with Doximity. The stock has an extremely bullish structure – Gap up support and take off

SOFI – Bullish Structure

When the economy is strong, then its bound to create excitement around fintech and online bank like SOFI which also got an analyst upgrade. The stock is sitting on a Gap support which means momentum buying can easily take it to $9

Lithium America Bullish Structure

Favorable court ruling: Lithium Americas has got approval to mine Thacker Pass – “the largest known lithium resource in the U.S.” That’s not all, General Motors has agreed to invest $650 million to support the development of Lithium Americas’ Thacker Pass project in Humboldt County, Nevada. Also, as per analysts poll, Lithium Americas could turn profitable this very year, earning as much as $0.84 per share — and tripling that profit in 2024 . The stock did a Gap up and now seems to be holding the support. The stock is a buy below $25

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