It is very easy to buy a stock, but picking a stock without a proven strategy is extremely difficult. Should you buy any stocks now or put any on your watch list? One of the major competitors is Raytheon Technologies, Shell (SHEL), and LPL Financial (LPLA). You can find out more by visiting stockcamel.com.
A hawkish stance by the Federal Reserve on interest rates, and the Federal Reserve tapering off bond buying, have made 2022 so far a challenging year for the market. In addition, the Russian invasion of Ukraine still occupies a large portion of the market. The current market rally has been put under renewed pressure.
Is it Time to Buy or Watch these Stocks?
We have now reviewed Apple, Tesla, Raytheon, Shell, and LPL Financial in more detail. This is an important factor to consider since all of the stocks have solid relative strengths.
Apple Stock
There is a double-bottom pattern in Apple stock. A buy point of 176.75 is ideal based on MarketSmith’s analysis. Furthermore, a new handle has formed with a higher buy point of 179.71. That might be the best entry point for now.
A The stock is now seeking support below its 50-day moving average following its bounce off of Apple’s 200-day moving average. On the relative strength line, this has resulted in a new high. Apple may continue to rise in the future.
An important argument in favor of Apple stock is its performance during the market pullback.
Tesla Stock
The MarketSmith stock analysis has indicated that Tesla shares have formed a cup and handle with a 1,152.97 buy point. When weak holders may be shaken out and moving averages get a chance to catch up, investors may appreciate a deeper, longer handle.
As Tesla’s relative strength line has slowed a bit since its surge at the start of last week.
A top-notch stock market performance and improving earnings have helped TSLA earn an impressive IBD Composite Rating of 95. Earnings are scheduled for release on April 20.
A Stock owned by Raytheon Technology
A The stock is close to breaking out of its flat base at the 104.44 buy point. Additionally, if the stock breaks out of its 10-week range, it may be worth a look.
As long as current market conditions persist, investors who want to buy RTX stock early are advised to wait for it to clear its March 25 high of 125.97. Last week, the stock came just short of clearing that key level.
According to the weekly chart, the relative strength line has reached a new high, which is encouraging. The current global security situation or the upward trajectory should not surprise us.
Shell Stock
As of the close of trading Thursday, the stock had rebounded from its 21-day line to just above a buy point of 56.23. The stock has constructed a bullish base-on-base formation thanks to strong support at the 50-day line. Before retreating, SHEL’s stock had flirted with breaking out of the range during the week.
Stock prices have surged above their 10-week line in recent weeks. Even though the RS line has been choppy over the past few weeks, it has been trending upward since January.
Market performance for Shell’s stock is strong. During the past 12 months, the stock’s price has risen by nearly 40%, placing it among the top 6% of stocks.
LPL Financial stock
A 191.08 first-stage base has been formed for the company. This first-stage foundation gives the company a better chance of success. Since it’s an extended play, it’s worth watching now.
When the relative strength line reached its buy point, it burst to new highs, giving the breakout credibility. Additionally, the relative strength line has passed the 21-day exponential moving average.