5 Stocks I'm watching this week [Jan 2-5, 2018]

This is a weekly series I like to do, go stir up some discussion for potential plays for the upcoming trading week. If you don't want to read this wall of text, check out the video: https://youtu.be/4habZ6Comg0

The 5 stocks this week that I'm watching are Alphabet (GOOGL), Alibaba (BABA), Visa (V), Paypal (PYPL) and the 5th is actually an index fund this week - the QQQ (Nasdaq ETF).

• Google, or Alphabet, has had a big selloff the last 2 weeks going into the end of 2017 and into 2018. I believe that this will reverse in the upcoming week as buyers come back in and volume picks up. It may dip slightly below to the uptrend support that I outlined, which is in line with its 50 day MA, so that is another key level to watch.

• Next we have Alibaba, which is a stock I am extremely bullish on and hold in my long term portfolio as well. Alibaba has been consolidating for the last few weeks after a big selloff, but I believe the bulk of the damage is behind us. If we see volume come in this week, we will bounce off the uptrend support, break through the MA, and start a recovery before we hit $200 in a few months.

• Third we have Visa. This stock held up well even though the markets sold off, and we closed off friday about $0.90 off the ATH (all time high). We are still above the uptrend support, and I believe the holiday shopping season will push Visa to new ATH soon.

• Fourth is PayPal. Another company that will benefit from the holiday season and I think will make a recovery after it's recent sell off the last month or so. PayPal is holding it's technicals very well, and is holding the uptrend support as well. Again, if we see volume come back into the market, especially in tech, we will see PayPal make a run for ATH.

• Finally we have the Nasdaq ETF - QQQ - which follows mostly tech stocks. This is a good indicator as to how the market is doing, and the QQQ's are currently at a level that is slightly above some uptrend support. This is a key level to watch this week - if we bounce off this, we will see all of tech start a recovery, if we break through this support, we will start making lower prices on most of tech stocks.

What trades are you watching this week, and what will be your first purchase of 2018? Let's discuss! Happy investing :)

Submitted January 01, 2018 at 04:57PM by blackdragon1299 http://ift.tt/2DKS3ae