We start off this new year with lots of interesting things happening all over the world. In Ramki’s watchlist for the week of 9th January 2023, we have a couple of US stocks.
As recently as in October 2022, GE was trading at under $50 a share. Today it is around $72, almost 50% up from those lows. But why is it on my watchlist? As you know, GE is breaking up into three parts. But that is not the reason. I think that over time, GE will be up another 33% from current levels. Hence it is on my watchlist. One has to carefully choose where to buy it now, of course. This approach has been explained in my online program on how to profit from Elliott Waves.
On the flip side, I am getting the feeling MSFT which is currently trading around $225 could go down to around $185. I am not saying this just on the fact that we saw 4 striaght down days for MSFT. I have no plans to buy this stock until I know we have found some support.
Remember, these are not to be considered as investment advice! Ramki’s Watchlist for the week of 9th January 2023 is exactly what it purpots to be – a watchlist. And these are generally there for the short term, perhaps just a few days. It is one thing to have a view for the medium term, and quite another thing to trade it. And therein lies the important skill that we need to hone. Good luck in 2023.