News: 😎 This Toymaker Gives a Short-Term Warning, But Will Likely Keep Rallying

Friday, December 4, 2020

😎 This Toymaker Gives a Short-Term Warning, But Will Likely Keep Rallying

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Friday, December 4, 2020

November's explosive rally higher is clearly over. From some down days for stocks to some "barely up" days like Wednesday and Thursday, the rest of the year is likely to follow this seasonal pattern of low volatility.

After everything else that's gone on this year, that's not so bad. And stocks are still near record highs, even as the economy is far from recovered from unprecedented levels of shutdowns. Traders can still find plenty of opportunities, even in a slower market. Expect some market moves around Covid stimulus headlines to be a big driver, and for investors to continue investing in areas that have done well over the past few months.

Actionable Trade Ideas For Today:

1		Unusual Pattern of the Day: Hasbro (HAS) Toymaker Hasbro (HAS) has already been on the move higher since late August. With shares hitting a golden cross in early October, the uptrend has only gotten stronger. But a few patterns have emerged that shares may be in for a few down days ahead of the holiday season.


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3		Overbought Stock of the Day: Callaway Golf Co. (ELY) A sport with social distancing built into it, it's no surprise that golf has been a popular pastime in 2020. That trend has appeared in a number of athletic-related plays. But investors may have gotten too bullish, as evidenced by the overbought conditions appearing in Callaway Golf Co. (ELY).



4		Oversold Stock of the Day: DouYu International Holdings Limited (DOYU) Chinese-based eSports firm DouYu International Holdings Limited (DOYU) is one of the few stocks looking oversold in today's markets. Shares have been declining since early September and are now starting look ripe for a rebound.