Good morning,
Time flies. It’s Saturday again and this is the day I always look forward to because I can evaluate my stocks’ performance and look forward to the new stocks selected for next week. So how correct are KUTE’s forecasts? KUTE has forecasted at the beginning of the week that US markets will be volatile and trading within broad range with the possibility of upside advancement for the week. It further selected NOV and recommended to buy at dip and sell once the target returns is achieved.
For the macro, US markets closed the week higher at 10,270.47, ranging from 10,020.62 to 10,357.38.
As for NOV, the technical indicators signaled the stock to advance and recommend buy when the price was $43.68. The stock opened the week’s session at $44.63 and closed last night at $44.17. In between the week it traded with the range of $43.87 to $46.16. I had mentioned in my previous blog that I bought when the stock dip and sold when the returns were achieved twice in the week and recommend to stay out of NOV on Thursday. I am glad I followed KUTE’s recommended trading strategy for the week and made some tidy profits for this stock.
The other stock that KUTE selected and I decided to bet because the candlestick formation was signaling a strong buy but cycle trend was showing a potential downside risk was MIR. It started the week at $14.15 and closed at $14.77. For the other 2 stocks that were dropped from the final selection for its poor technical indications, MGLN opened at $33.91 and closed the week at $35.19 and TAP opened $43.85 and closed $45.68.
I cannot be too happy with the other stocks I have bought that were either not selected by KUTE or when the system indicated sell but I continue holding. So I am still waiting for Citibank and PTEN to recover.
See you on Monday morning for the new list of KUTE’s selection. Have a great weekend!
Francies Cheng
BBus MAppliedFinance
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