The entertainment industry giant could rise again
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Hungarian Equities - Technical Analysis
The BUX index broke its rising market structure last week, suggesting that the prolonged upward wave may have come to an end. MOL has also remained in correction phase since the dividend payment and has now fallen below the 5,000 level, leaving the next significant support considerably lower. Richter found support around 12,180, but no convincing reversal signal has been confirmed yet. Magyar Telekom continues to trade within an increasingly narrow range, with a high-momentum session likely needed to provide short-term direction. Opus remains in a downtrend. Rába is also moving within a broad trading range, although another upward wave could develop later if the necessary technical conditions are met.
Major markets continue to trade near their all-time highs, so there are fewer and fewer truly attractive investment opportunities. In such an environment, momentum is typically already more subdued, which calls for caution. In today’s analysis, we took a closer look at the stock of Walt Disney, one of the key players in the services sector. The stock has already experienced a long-term trend reversal, and the subsequent consolidation could lay a favorable foundation for further gains.
Best rated US stocks based on momentum ranking
Compelling technical picture:
Walt Disney (daily): After breaking the long-term downtrend, the chart is poised to complete a trend-confirming pattern. The pullback from the 112.5 level can be considered a consolidation phase so far, as the price has managed to stay above 100, and the number of trading days spent in the correction appears to be appropriate in terms of duration. At current prices, the 100 level may serve as a risk management threshold; this level must not be breached for the upside potential to remain intact. Based on the pattern, the target price could reach 125.
List of stocks with a chance of a turnaround in the coming weeks
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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