11 May 2022
Here’s what’s new from Stockfox this week:
- Why are cryptocurrency prices sliding?
- Has the technology sector been oversold?
- The Australian fintech we like as a short sell.
The image below is the S&P500 index heat map. It shows that most technology companies are rising while most other sectors are falling. This could be a sign that the technology sector has been oversold in recent times and is starting to make a recovery.
Therefore, we suggest that investors keep a keen eye out on the technology sector for potential opportunities for profits.
Cryptocurrency has been all the rage for a while now, but the values of some coins, like Bitcoin (BTC) and Ethereum (ETH), have been sliding lately. Bitcoin, for example, is now at its lowest price since July 2021.
So why has crypto taken such a dive? Find out in this CBS News article.
Tip of the Week
Due to the volatility of the share markets, we’ve not issued any new buy tips this week, issuing several sell and short sell tips instead.
These include a recommendation to SELL Ryman Healthcare, (NZX: RYM) whose share price has been weakening due to pressures in the property sector. We believe Computershare (ASX: CPU) has had a strong upwards trend, so there are potential profits to be gained from our SHORT SELL tip. Universal Logistics Holdings (NASDAQ: ULH) is hitting a resistance level and starting to turn around, warranting a SELL tip to take profits.
Read more about our recommendations and analysis here.
Covid-19 restrictions have heavily influenced the media and communications industry, as seen by the way it’s changed even more rapidly how we interact with others and how much time we spend in front of a screen.
Here are our most and least successful media and communications-related company tips issued over the past three months.
See the performance of all tips here.
NB: These are examples of just some of Stockfox trading recommendations. They are not a reflection of the success of all Stockfox tips, nor are they necessarily an indication of the success of any future Stockfox tips. If you act on our advice, there is no guarantee as to the repayment of your investment or any particular rate of return.