The Only DOW Stock Which Went Up...
Just one trading day after the worst quarter in stock market history, futures traded about 3% lower overnight. Some traders may be scared, but as an active trader, I continue to analyze TrackStar’s financial professional data on a daily basis… and trading in current markets has been more exciting than ever as a result.
Despite the worst quarter in stock market history, one DOW stock actually did go up in the first quarter of 2020… by one penny. Through Q1 of 2020, Microsoft (NYSE: MSFT) witnessed an 800% increase in usage of its cloud app as work-from-home and social distancing mandates have been implemented.
To add to my interest in Microsoft this morning, financial professional Emily Barry of JP Morgan Chase recently stated that “buying blue-chip stocks that have outperformed the broader market is a diversification strategy that’s working.”
With Barry’s thoughts taken into account, should markets rebound like they did just last week, I would anticipate Microsoft outperforming blue-chip stocks such as energy giants Exxon Mobil and Chevron given very weak energy demand, while Microsoft’s cloud app’s demand is at an all-time-high.
From a trader’s point of view, Microsoft is setting up nicely in the premarket right above its 200 day simple moving average line, indicated in white on the chart above. Simply put, if Microsoft bounces off its 200 day simple moving average line to the upside, I’ll take a fast moving bullish position and collect all available profits.
Inversely, if Microsoft breaks below its 200 day simple moving average line to the downside, I’ll look into trading a bearish position in a momentum driven downtrend and collect all available profits by the end of the trading day.
While Microsoft’s cloud app is in high demand right now, it could be traded for profit in green and red markets in the days, or even weeks to come as I expect financial professionals such as Emily Barry of JP Morgan Chase to be doing the same. Many traders may be under the impression that they can only trade if markets are going up… nothing could be further from the truth.
As a verteran trader, I believe that all traders possess the potential to financially thrive in both green and red markets if they have the right trades, financial fundamentals, and proven mentor in their corner.
Yours for TrackStar trading,
America’s #1 Premarket and Day Trader
Disclaimer: This is not investment advice. This article is for information purposes only and opinion-based on financial advisor data across a selection of websites. Investors should be cautious about any and all investments and are advised to conduct their own due diligence prior to making any investment decisions.