It’s Friday again, and that means it’s our Friday Pick’em’s. Time to assess the damages after the stock market had one of its worst weeks in a while. Hopefully, everyone following along had their stop losses in place! The big question now is if the weakness is an overdue correction or the start of something worse.
Dan’s Stock Pick
Volume: 309 K
Dan’s Friday Pick’em is Concentrix Corp, one of the few stocks last week that saw positive momentum while everything else was dropping. I like this stock as a Pick’em for a few reasons. First, it’s seeing a jump in volume with no recent news to justify the increased interest. Second, its MACD just flashed a buy signal and third, it has the momentum of passing its 52 week-high. These signals don’t always mean it’s going to keep running, but those are all commonalities I’ve seen in the runners I’ve found since this began. Just remember to set your trailing stops!
Kyle’s Stock Pick
Volume: 68.8 M
Kyle’s Pick’em of the week is Churchill Capital, a blank check company (SPAC), was on a heck of a tear before it came crashing down on Tuesday. The reason for the run-up was rumors of it acquiring Lucid Motors. When the details came out, it’s share price quickly fell off a cliff over the next few days before finding support around $27 a share. On Friday, the stock reversed its drop and closed above $30 and is looking very attractive at that price. I’ll be looking at the stock Monday hoping to catch it as it bounces off it’s bottom, with a stop loss around $28.50 to protect myself in case I read it wrong.
Past Pick’ems Review
Last week was not kind to our picks, as we lost 4 total. AMD and CONN never really took off, QS was a victim of some extreme volatility and II-VI had its momentum snapped after announcing an acquisition. SPCE was just a borderline hall of shame pick…
|Price first |
|15% Trailing |
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- Friday Pick’em: 03-06-21 (Sunday Edition)A couple days late but hopefully not a dollar short, here is are picks for next week. No Tech this time!
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- Friday Pick’em: 02/19/21After last week’s homerun of a pick, we look to repeat that success again. Can we make it two in a row?
- Friday Pick’em: 02/12/21A big acquisition offer by one of our picks on Friday puts it’s status in jeopardy. How did the rest of our stocks fare?
- Friday Pick’em: 02/05/21Now that the GME excitement has died down, it’s time we got back to basics