Market Overview
Stocks tread water, touch new highs: The major U.S. equity indexes spend most of Tuesday near the unchanged mark, with the S&P 500 closing a touch higher to add to its new high water mark. International equities were generally higher with global central bank moves and political uncertainties in France in focus. Signs of better growth in Europe along with the prospects of an easing cycle from major central banks has brightened the outlook for international developed markets. After hovering near the flat line for much of the day, commodities saw some late-day support, with gold and oil prices closing to the upside. Looking under the hood at sector performance, technology, industrials and financials were the best performers on the day. While cyclicals areas saw some support today, technology has broadly resumed its leadership role during this latest rally in equities, with the sector up 14% over the last month, with the next best performer being communication services (+4%)
Market Indexes and Winners
Good Stock Set Ups
STOCK SETUP: NET @06/18/2024
| Ticker | NET, Cloudflare Inc | Note |
| Last Price | 79.08 | |
| Buy | 79.08 | Limit Order This is generated by our mechanical trading system. Please read the chart section for more detailed and flexible entry options. |
| Target | 86.99 | Default at 10%, Or Sell when close below ma5(short term)/10(midterm)/20(long term) or when big down day or when formed inverted hammer at a resistance level |
| Stop | 76.13 | |
| Reward/Risk | 2.68 : 1 |
Above is the summary of one of our Stocks Buy Setup.
More Technical Status for NET @06/18/2024
| ATR (14) | 2.64 | Stop can be set at 1xATR below recent low |
| Beta | 1.09 | Beta measure of a stock’s volatility in relation to SP500. Greater than 1.0 means more risky than SP500 |
| RSI(14) | 60.04 | Greater than 50 means bullish. Crossing above 30 in correction is a good buydip too |
| SMA20 | 8.97% | Distance to SMA20 |
| SMA50 | -0.40% | Distance to SMA50 |
| Recommendation | 2.42 | Analysts’ mean recommendation (1=Buy 5=Sell) |
Our system generated several buy signals today. NET is one of them. Let’s take a look at this stock’s chart (The first chart below is a live chart).
STOCK SETUP: CRC @06/18/2024
| Ticker | CRC, California Resources Corporation | Note |
| Last Price | 50.31 | |
| Buy | 50.31 | Limit Order This is generated by our mechanical trading system. Please read the chart section for more detailed and flexible entry options. |
| Target | 55.34 | Default at 10%, Or Sell when close below ma5(short term)/10(midterm)/20(long term) or when big down day or when formed inverted hammer at a resistance level |
| Stop | 48.76 | |
| Reward/Risk | 3.26 : 1 |
Above is the summary of one of our Stocks Buy Setup.
More Technical Status for CRC @06/18/2024
| ATR (14) | 1.45 | Stop can be set at 1xATR below recent low |
| Beta | 1.41 | Beta measure of a stock’s volatility in relation to SP500. Greater than 1.0 means more risky than SP500 |
| RSI(14) | 57.72 | Greater than 50 means bullish. Crossing above 30 in correction is a good buydip too |
| SMA20 | 6.49% | Distance to SMA20 |
| SMA50 | -0.77% | Distance to SMA50 |
| Recommendation | 1.57 | Analysts’ mean recommendation (1=Buy 5=Sell) |
Our system generated several buy signals today. CRC is one of them. Let’s take a look at this stock’s chart (The first chart below is a live chart).
STOCK SETUP: ARM @06/18/2024
| Ticker | ARM, Arm Holdings plc. ADR | Note |
| Last Price | 174.13 | |
| Buy | 174.13 | Limit Order This is generated by our mechanical trading system. Please read the chart section for more detailed and flexible entry options. |
| Target | 191.54 | Default at 10%, Or Sell when close below ma5(short term)/10(midterm)/20(long term) or when big down day or when formed inverted hammer at a resistance level |
| Stop | 157.08 | |
| Reward/Risk | 1 |
Above is the summary of one of our Stocks Buy Setup.
More Technical Status for ARM @06/18/2024
| ATR (14) | 8.96 | Stop can be set at 1xATR below recent low |
| Beta | – | Beta measure of a stock’s volatility in relation to SP500. Greater than 1.0 means more risky than SP500 |
| RSI(14) | 85.39 | Greater than 50 means bullish. Crossing above 30 in correction is a good buydip too |
| SMA20 | 32.38% | Distance to SMA20 |
| SMA50 | 47.38% | Distance to SMA50 |
| Recommendation | 2.15 | Analysts’ mean recommendation (1=Buy 5=Sell) |
Our system generated several buy signals today. ARM is one of them. Let’s take a look at this stock’s chart (The first chart below is a live chart).
