Ming Jong Tey
Independent Analyst
There is one key aspect in common among FTCH (Farfetch Ltd), MWK (Mohawk Group Holdings INC), OPEN (OpenDoor Technologies INC), SKLZ (Skillz INC) and UPST (Upstart HLDGS INC), which is they all focus on growth. Generally, these type of growth companies will suffer in the bottom line despite growing revenues. However, their share prices tend to show strong momentum.
In the video, I've analyzed these 5 stocks via price action trading strategy with volume spread analysis and the Wyckoff analysis concept to derive if the demand or supply is currently dominating hence form a directional bias for the stocks. On top of that you will find out my trading plan containing key levels to watch for potential entry and stop loss.
Timestamps
-
9:28 FTCH (Farfetch Ltd)
-
13:40 MWK (Mohawk Group Holdings INC)
-
16:33 OPEN (OpenDoor Technologies INC)
-
17:46 SKLZ (Skillz INC)
-
19:00 UPST (Upstart HLDGS INC)
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
AUD/USD holds ground as RBA leaves the door open for a hike
Tuesday's session witnessed the Australian Dollar clearing losses against the US Dollar following the release of the hawkish RBA minutes and the US JOLTs figures from May. For the USD, the confidence of Jerome Powell on inflation coming back down sooner on the prospects of a cooling labor market weakened the Greenback.
USD/JPY extends gains near 161.50 ahead of US data, FOMC Minutes
The USD/JPY pair trades on a stronger note near 161.40 after reaching a new high for this move near 161.75 during the early Asian trading hours on Wednesday. Market players remain focused on the possible foreign exchange intervention from the Bank of Japan, which might cap the pair’s upside.
Gold falls amid falling US yields, soft US Dollar
Gold price slid during the North American session as market participants digested Federal Reserve Chair Jerome Powell’s comments at a European Central Bank forum in Portugal. Powell turned slightly dovish, yet US Treasury yields remained firm. The XAU/USD trades around $2,324.
Ethereum ETFs set for $5 billion inflows despite ETH Foundation's continuous sales
Ethereum is down more than 1.4% on Tuesday following another ETH sale from the Ethereum Foundation. Meanwhile, crypto exchange Gemini's recent report reveals that ETH ETF could see about $5 billion in net inflows within six months of launch.
Benefit of the doubt: US consumer confidence and elections
Despite widespread expectation for the US economy to be in recession in 2024, that fate has been avoided thanks to a resilient consumer. Yet it is difficult to square this undaunted spending with consumer confidence and sentiment readings that are lackluster at best.