This one looks like an ideal swing play trading just below a dollar a share.
Good day everyone,
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The equities markets posted a significant gain last week, presumably due to the FED mapping out its plan for interest rate hikes including an immediate .25% increase followed by possibly six more similar hikes this year. The S&P 500 index stood at 4,162 last Monday, then started a 7% rally to finish the week at 4,463.
Investors may be looking away from the turmoil that has seemed to impact the stock market thus far in Q1. Inflation is still here, commodities prices are all over the place, the Russia/Ukraine war is still raging but perhaps we are beginning to see some level of control being exerted over those issues. I certainly hope that is the case. Regardless, investors may be becoming DE-sensitized to them, focusing instead on economic data that has continued to strengthen, the tight labor market, and corporate earnings that are strong.
We are looking at a NASDAQ company that I think looks oversold. This could be an opportunity in a company whose shares have consolidated with the overall market but have not begun to recover with it as many others have.
In addition to advanced technology, this company has displayed dedication to shareholder value possibly because insiders own more than half the outstanding shares. The company in our next report has a modest share structure and is revenue positive.
Stay tuned and stay informed. We will issue this report on Monday, March 21, 2022, at or near the market open.
The Traders News Group |