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Summary
Good week for markets
Stocks to keep an eye on
Bulls and Bears
Bulls | Bears |
Microsoft (MSFT) | Costco (COST) |
Invesco Aerospace and Defense ETF (PPA) | International Paper Co. (IP) |
The Market
The markets had a good week; the S&P grew by 1.56% and the Dow Jones by 1.94%.
Costco (COST) grew 5.17% this past week, rebounding to $787.19 after a steep drop in March. The stock has hit the top of its Bollinger band, and we are bearish on Costco as investors are looking to cash out on this sharp growth. We set Costco’s floor at $721.55 and a ceiling at $800.
Microsoft (MSFT) 1.49% this week, following an upward wedge trend. We are bullish on Microsoft, and expect the stock to continue its upwards wedge. Our ceiling is at $434 and our floor is at $401.
International Paper Co. (IP) grew 7.17% in the last week. IP hit a ceiling at around $40 and then dropped to $38.58. We are bearish on IP right now, and expect the stock to bounce off a floor at $33.50 and then grow to $40 again.
The Invesco Aerospace and Defense ETF (PPA) grew 1.36% this week. We are bullish on PPA as the stock has been consistently following an upward channel since last October. We expect a continuation of this trend and have set our floor at $102.37 and our ceiling at $107.31.
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