News: 😋 One of the Market’s Most-Disliked Stocks Is Back in Favor

Thursday, December 3, 2020

😋 One of the Market’s Most-Disliked Stocks Is Back in Favor

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Thursday, December 3, 2020

There are two types of market highs: Cautious, and optimistic. The recent market rally has been cautious. New highs have been met not with a push even higher, but with caution, as yesterday's lack of a rally has showed.

But, coming off of the day's lows to close flat, it's clear that markets aren't quite ready for a big selloff yet. Traders can still find plenty of opportunities in this slowing uptrend. The holiday season is typically both slow and bullish. But given how far some names soared in November, traders may be able to profit on the downside from a number of stocks keeping the indices from soaring to new heights.

Actionable Trade Ideas For Today:

1		Unusual Pattern of the Day: Boeing (BA) With the issues surrounding the 737 Max to the collapse of air travel, most traders have rightly shunned Boeing (BA). However, shares have been trending higher, as the company nears recertification and as air travel looks to start picking up in 2021. A key chart pattern suggests shares will keep ascending.


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3		Overbought Stock of the Day: Aluminum Corp. of China (ACH) Base metal producer Aluminum Corp of China (ACH) has been on a tear. Since the start of November, shares have vaulted to over $9 from $6, a gain of over 50 percent.



4		Oversold Stock of the Day: Direxion Daily Semiconductor Bear 3x Shares ETF (SOXS) With most stocks either coming off of overbought levels or trading at a neutral reading, the only oversold stocks out there are those that are shorting the market or some sector. The Direxion Daily Semiconductor Bear 3x Shares ETF (SOXS) is one such play.