Monday, November 16, 2020

⬇️ Follow Declining Unemployment Trends for Profit

Good morning. While a number of state officials warned about the need to increase lockdowns and..
I hope you had a great weekend. It's great to see people out and about, masked or not. I happen to live where things are opening up more quickly, and I have to tell you, it's a relief.
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Monday, November 16, 2020

While a number of state officials warned about the need to increase lockdowns and other social distancing measures amid rising case counts, stocks continued unabated. The S&P 500 closed at an all-time high, the first time since September.

While some areas are looking to put the halt on restaurants and other social gatherings, the news of a Covid vaccine the past week has shown that there is a light at the tunnel. Unlike the start of 2020, the year is shaping up to end on a much more positive note for stocks.
Actionable Trade Ideas For Today:


1
Unusual Pattern of the Day: Automatic Data Processing (ADP)

With unemployment rates trending down, it's no surprise that back-office servicing company Automatic Data Processing (ADP) has been a strong performer in recent weeks. Thanks to a new chart pattern emerging, shares are likely to continue their uptrend for the foreseeable future.
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3
Overbought Stock of the Day: Ternium (TX)

Steel giant Ternium (TX) has soared in recent sessions. Improving economic data and news of a Covid vaccine have overshadowed bigger fears of further lockdowns this winter. The sharp move higher has also created overbought conditions in shares.
4
Oversold Stock of the Day: Federal Agricultural Mortgage Corporation (AGM)

A company in the business of lending and guaranteeing loans to farmers, the Federal Agricultural Mortgage Corporation (AGM) has seen traders shift out of shares in the past week, most likely due to the election results.
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