Gen Digital's stock may turn around
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After a hot fall, a spring tornado could wreak havoc in France
Barely half a year after this year’s French budget was passed, the wrangling over the 2027 budget is about to begin, but that’s not all, because France will also hold a presidential election next spring. During the first public presidential debate, some of the radical candidates put forward ideas that were, at times, unconventional. Although the presidential election in late April still seems far off, based on the latest polls, if no candidate secures enough votes and a runoff is held, it cannot be ruled out that two radical presidential candidates will face off against each other. Market participants may have begun to price in this growing uncertainty, as the yield spread between French and German 10-year government bonds has started to widen again in recent weeks. The period ahead promises to be full of twists and turns, so it will be worth keeping a close eye on developments in French domestic politics.
Commodities - Technical Analysis
Gold and silver prices have retested their uptrend lines, so the long-term trend may continue. Oil prices have broken out of a contracting pattern, which may signal the start of another upward wave. Natural gas prices have also begun to rise, signaling a buy. In the case of copper, the main uptrend remains in effect, and there are currently no signs indicating a change in the trend’s structure. Following significant gains, wheat and corn have become heavily overbought, increasing the likelihood of a correction.
Many stocks are starting to catch up with the booming semiconductor sector. During major rallies, a kind of rotation is usually observed, which helps lagging sectors and stocks to rise. A large number of stocks were added to the list this week, and it was necessary to further narrow the selection as the range of promising stocks widened. This trend could continue for weeks; there are no signs yet of a stronger turnaround.
Best rated US stocks based on momentum ranking
Compelling technical picture:
Super Micro Computer (daily): We’ve seen a shift in the long-term downward trend over the past three days. It left a massive gap behind, which is a very good sign, and the trend has broken upward. The low around 50 may be reached, but 62.5 and 75 could also come into play. It’s worth managing risk by covering the gap (below 25).
Gen Digital (daily): A long downtrend has been broken quite sharply. This stock has also left a gap, so a close below 20.3 could be a negative sign. The price could reach a low around 25, but it could also rise as high as the previous breakout level (around 28.12).
List of stocks with a chance of a turnaround in the coming weeks
This week, not a single stock met the screening criteria.
Most popular US stocks
The momentum model supports the creation of a technical based stock list that helps to find shorter-term trading opportunities. The model can be used to identify stocks that show reversal signals following more sustained falls/underperformance. We examine one-year, six-month, three-month, one-month and five-day momentum values, which are used to rank the stocks under consideration. The higher a stock is ranked in the order, the better it technically performs relative to the others. The change in the ranking over time is used to determine the life cycle of the stock.
- In the first table, we collect the stocks that show the most attractive picture compared to the others in a given week based on momentum factors, of which those are also presented in a separate chart where a favourable situation can be identified based on additional technical analysis tools.
- In the second table, we list the stocks that are already worthy of being placed in watchlist status. They are not among the best performers, but they have the potential to improve and signal a turnaround in a few days or weeks.
- In the third table, we have also collected the more popular stocks to help identify their position in the momentum order.
The report shows the results of a technical - quantitative based stock screening, which does not examine the fundamental background/value of the companies. For this reason, risk management/position sizing rules should be designed accordingly.
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