A Close Call!
However, for the upcoming rebound, it's best to be cautious. MU's short-term support is around the 5-day moving average or near the 820 gap.
If MU follows my predicted move, it's recommended to take profits on high-flying leading stocks during the rebound. In fact, many of yesterday's high-priced stocks have already plummeted, so extra caution is warranted going forward.
So, the core of strong stocks in the coming period still depends on MU. For those wanting to buy the dip, just focus on MU. If buying MU on a dip can't make money, there are even fewer opportunities for the lagging follower stocks.
Before SpaceX goes public, I believe there will be a wave of declines for both the index and individual stocks! So be cautious in the short term and don't blindly bottom fish stocks.
Judging by the latest news, there is still potential for the Middle East situation to escalate. While the US claims a ceasefire, it seems fighting continues, so in the short term, the index is likely to fall rather than rise—especially with the weekend just around the corner.
During yesterday's live broadcast, I bought SOXS on the dip at minus 10% pre-market, and by intraday, it had gained close to 20%. This also indicates that caution is needed for high-level tech stocks in the short run.
DXYZ from the SpaceX concept had a double-top pattern yesterday. Even though the stock price surged 5% pre-market, it still plunged in the end. RKLB soared near the close, but it formed a hanging man pattern.
So, for space concept stocks, there is little opportunity in the short term, unless SpaceX performs beyond expectations after going public. Only then will space concept stocks have a chance. Until then, I don't recommend trading space concept stocks before the SpaceX IPO.
Among low-priced stocks, the only one I find appealing now is RGTI. The gap near 22 is a reference point for buying the dip. If the US stock market falls, the buying opportunity may be delayed.
In short, there aren't many opportunities for individual stocks right now. High-flying stocks may get another rebound opportunity, but it's basically a tail-end market. Only after a wave of decline in the index and individual stocks will new buying opportunities arise.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Probably Not Just Once or Twice! Fed’s Hawkish Tone Returns as Wall Street Prepares for More Rate Hikes
Wall Street is searching for clues in the Federal Reserve's statements to prepare for the possibility of further interest rate hikes this year.
Federal Reserve's Kashkari: Inflation remains too high and is spreading to every corner of the US economy
Minneapolis Federal Reserve President Neel Kashkari stated that the inflation rate remains too high, and inflationary pressures have gone beyond the impact from oil price shocks caused by the Middle East war.
SingularityNET contract exploit forces Fetch.ai to pause AGIX-FET conversions
Crypto prices
More
