This article is for education purposes only, and not to be taken as advice to buy/sell. Please do your own due diligence before committing to any trade/investment.
Last week was exciting for traders of technology stocks.
NVIDIA’s massive earning surprise and optimistic guidance sent many technology stocks to the moon.
The technology sector has a companion in this rise – the communications sector.
And I’ve picked out 1 stock each from the technology and communications sector which I think are likely to continue rising for the foreseeable future.
I know that you’re excited.
Before you jump ahead, are your curious to know how the stock picks for May 2023, Fortive and International Business Machines, performed?
The trade on Fortive is profitable while a short position in International Business Machine didn’t appear.
Are you ready to explore the 2 stock picks for June 2023?
Interpublic (NYSE: IPG)
1. About the Company
Interpublic is more than 100 years old!
It started off as an advertising agency which has evolved into a massive advertising, consultancy, and human resource agency rolled into one.
But that’s not all!
Interpublic provides its customers with analytics to help them make more informed decisions.
While all these sound great, what does the market think of Interpublic?
Let’s find out by having a look at its price chart.
2. Position Trading (Daily)
The share price of Interpublic has been and is rising.
At a glance, you can also tell whether its shares are ready for a position trade without the need for any technical drawings.
This can be told by the 2 main indicators on its chart – the green arrow and Trend Impulse Factor.
For a long position trade, you’ll want to see both the green arrow and the bar of the Trend Impulse Factor in dark green.
That’d indicate that a fresh bullish move is here and could stay for a while, increasing your chances of pocketing a tidy profit.
Since only the green arrow is out on the latest candle of Interpublic, the time to buy it for a position trade isn’t here yet.
I think that the time could come soon, so please pay attention to it.
Workday (NASDAQ: WDAY)
1. About the Company
Founded in 2005, Workday is a relatively new company.
For it to be listed at a young age, this is impressive!
Right from the start, Workday aggressively sought growth by acquiring companies and seeking investments.
Today, it provides enterprise cloud applications worldwide.
With this impressive “resume”, is it time to position trade its shares?
2. Position Trading (Daily)
Similar to the price chart of Interpublic, the price chart of Workday is in an uptrend.
Without the need for any technical drawings, you can tell that the time to buy shares of Workday for a position trade is ripe!
You can conclude based on the 2 main indicators – the green arrow and Trend Impulse Factor.
Do you see a green arrow under its latest candle?
The presence of the green arrow indicates that this is a fresh bullish move.
And this bullishness could last, as inferred from the bar of the Trend Impulse Factor indicator that’s in dark green.
You can safely conclude that it’s a good idea to buy its shares for a position trade now!
Both the communication services and technology sectors are performing extraordinarily well, and the stock picks for June belong in these sectors.
While the shares of Interpublic aren’t ripe for a position trade, the shares of Workday are!
Given the more volatile environment we are in, it's a great idea to place a stop loss level to protect your trading capital. There's no need to hold onto a losing stock on the way down as there are many more strong and uptrending stocks.
Trading stocks without a proper system can be highly risky. This is why TGPS was created. The indicators will help you determine if a stock is ready for action to be taken. You won't have to feel in the dark and make wild guesses.
What are your thoughts?
Share your thoughts with us below!
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