January 06, 2020
Stocks To Watch This Week
Tesla, Inc. ($TSLA) is a Major Automobile Manufacturer in the Consumer Goods sector. Chinese banks have agreed to provide Tesla a $1.4 billion five-year loan facility to be used on the company’s newly launched Gigafactory in Shanghai, Reuters reported, citing sources. The financial assistance will be partially used to roll over the previous RMB3.5 billion 12-month loan facility offered earlier in the year with the remainder to be used to improve productivity in the Shanghai plant and for Tesla’s operations in the country, sources told Reuters. I plan to day trade this over the $413 natural resistance level if it does not get spoiled in pre-market.
Roku, Inc. ($ROKU) is a CATV Systems company in the Services sector. This stock went wild last Friday, gapping up from lows of $132.50 to highs of $138 before forming a descending wedge into close. Needham handed ROKU a buy rating and a price target upgrade to $200.00. Momentum can really get this stock running, sometimes in week-long intervals, and this may turn into a potential swing play for me. I plan to day trade this initially over the $138.00 natural resistance level for the descending wedge breakout!
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