Daily Stock Watchlist for November 13, 2023

Welcome to another edition of The Daily Spotlight! We're excited to provide you with our daily stock watchlist featuring potential trading opportunities for the day.

My apologies for the absence of the daily watch list the past 2 trading days. I was fighting a losing battle with a cold all week and needed to take some additional time to rest up.

In today's market analysis, we've identified these stocks based on our criteria. Please conduct your due diligence before making any trading decisions. Remember, the stock market is dynamic, and it's essential to stay updated on news and market trends throughout the trading day.

If you could help me out, please, respond to this email with your favorite color so that I know who’s getting the watch list and who is not.

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Stock Pick 1: GDX

GDX - VanEck Gold Miners ETF

We’ve been shorting gold for a little bit now, and that’s still a good play, but the gold miners still have a little ways to go too and they’ll move down even faster. As you can see, the RSI is headed lower and the MACD is diverging lower. We think this is an excellent opportunity to get into a short that could run for a few days.

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Stock Pick 2: CAT

CAT - Caterpillar, Inc

CAT appears poised for an uptrend. As you can see, the RSI has recently moved out of oversold territory as CAT has pulled out of the Lux Algo buy zone. The MACD is indicating a bullish crossover and we have 1 full candle close above the 9 day moving average. CAT should move upwards.

Stock Pick 3: COIN

COIN - Coinbase Global, Inc

It might take a few days to play out, but the upswing in COIN should be over. It is now overbought (RSI = 70) and has entered the Lux Algo sell zone. The probability that COIN will move lower is high.

Stock Pick 4: EU

EU - enCore Energy Corp

Here’s one that should trend higher. EU has completed a full candle close above the 9 day moving average and is indicating an impending bullish MACD crossover. The RSI indicates that it’s not overbought either.

Stock Pick 5: MOD

MOD - Modine Manufacturing Company

MOD is probably more at the tail end of the trend than the beginning, but indications are that it should continue in an upswing for the next day or two. The MACD has crossed bullish and it is not yet overbought. Being several full candles above the 9 day moving average and having broken the 50 day moving average, we like this move up.

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Protect Your Investments with Stop Losses:

One of the fundamental principles of successful trading is risk management, and a crucial tool in your toolkit is the use of stop losses. In the volatile world of the stock market, where prices can fluctuate rapidly, stop losses act as a safety net for your investments. By setting stop losses, you are taking control of your risk, ensuring that even in the event of unexpected downturns, you protect your capital. It's a proactive approach that can help you navigate the ups and downs of the market with confidence, providing peace of mind and enabling you to make more informed, rational decisions. Remember, the key to successful trading is not just about maximizing gains but also safeguarding against losses, and stop losses are a powerful strategy for achieving that balance.

We encourage you to share your thoughts, experiences, and feedback with us. Your insights and questions are always valued.

If you have any questions or need further information about these picks, please don't hesitate to reach out.

Happy trading, and we look forward to sharing more profitable opportunities with you in the days ahead!

Best regards,

Nic

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DISCLAIMER: Important Information Regarding Our Newsletter:

Not Financial Advice: The content provided in this newsletter is for informational purposes only and should not be considered as financial advice. The stocks mentioned here are based on our opinions and research. It is essential to conduct your research and consult with a qualified financial professional before making any investment decisions. 

Risks Involved: Investing in stocks involves substantial risk, and the value of your investments may fluctuate. You could potentially lose a significant portion or all of your invested capital. Please be aware of the risks associated with trading and investing in the stock market.

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