Daily Stock Watchlist for November 15, 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.

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.

Before we get into today’s list, I want to strongly caution you against going too heavily into anything right now. All of the major indices are overbought, but the old adage that “the market can remain irrational longer than you can remain solvent” holds true. Whatever positions you take, please stand very close to the exits.

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Stock Pick 1: BR

BR - Broadridge Financial Solutions, Inc.

BR broke out of the descending wedge in yesterday’s trading session. We not have a full candle close above both the 9 and 50 day moving averages. BR should move upwards over the next few days.

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Stock Pick 2: DBX

DBX - Dropbox, Inc.

DBX is a few days into the uptrend already, but there’s still time to catch some of the move. After consecutive candle closes above the 9, 20 and 50 day moving averages, the MACD has confirmed a bullish crossover. DBX could move up for another few days.

Stock Pick 3: URG

URG - Ur Energy Inc

URG closed a full candle above the 9 day moving average in yesterday’s trading session. With the MACD indicating a bullish crossover coming URG should move upwards from here.

Stock Pick 4: TNET

TNET - TriNet Group, Inc.

You can probably tell by now that all the boxes have been checked here. Full candle closes above all of the important moving averages and a bullish MACD crossover. You’ve probably got 1 day, maybe 2, but most likely 1 day left to take advantage of the upswing before it rolls over.

Stock Pick 5: CVNA

CVNA - Carvana Co.

If you didn’t get into CVNA at $29 when we posted it before, here’s another chance at a slightly higher price. The bearish crossover on the MACD was rejected today. We also got a full candle close above the 9 day moving average and broke the 20 day exponential moving average. This should move up for a few more days

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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.

Not a Registered Investment Advisor: We are not registered investment advisors and are not authorized to provide financial advice. The information shared in this newsletter is intended for educational purposes and should not be interpreted as personalized investment guidance.

Potential Conflicts of Interest: We may or may not own positions in the stocks discussed in this newsletter. Our interests in these stocks could create a conflict of interest that may affect the objectivity of our analysis. We are not obligated to disclose our positions in the mentioned stocks.

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Readers' Responsibility: Readers of this newsletter are responsible for their investment decisions and should perform their due diligence, consider their risk tolerance, and seek professional advice when needed.

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Accuracy and Updates: We make reasonable efforts to ensure the accuracy of the information provided, but we do not warrant its completeness or reliability. The stock market is dynamic, and the information may become outdated. It is your responsibility to verify the accuracy of any data before making investment decisions.

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