News: 😜 Play Defense With This Defense Contractor & Double Play this Tech Winner

Wednesday, December 2, 2020

😜 Play Defense With This Defense Contractor & Double Play this Tech Winner

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Tuesday, December 2, 2020

The stock market is easily hung up on several newsworthy, but not necessarily economically essential events. For instance, last year marked the end of the "trade war" talk, where markets would sell off like clockwork on a suggestion of higher tariffs between the U.S. and China.

Today, the markets have a knee-jerk reaction to the upside when they hear about more stimulus. Somehow, a global pandemic managed to get sandwiched in between these somewhat inconsequential pieces of news that can move markets yet rarely rise above the level of gossip. The latest stimulus talk, with a bipartisan compromise plan, was enough to send the Nasdaq to new all-time highs.

Actionable Trade Ideas For Today:

1		Unusual Pattern of the Day: Lockheed Martin (LMT) Defense contractor Lockheed Martin (LMT) has traded in a range over the past few months. That hasn't provided traders with many opportunities to profit from major moves. And a key indicator suggests that shares will continue to be range-bound for some time.


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3		Overbought Stock of the Day: The Trade Desk (TTD) Cloud-based software giant The Trade Desk (TTD) has been a runaway winner of 2020. Shares are up nearly 280 percent over the past year, more than ten-fold the return of the S&P 500.



4		Oversold Stock of the Day: National Grid Group (NGG) As the market continues to flirt with new highs, a number of firms have bucked the trend. One such name is National Grid Group (NGG), a United Kingdom-based utility and natural gas distributor.