Regardless of your trading approach, these stocks might be worth checking out for several reasons. Shares of tech companies are doing quite well and have been showing positive tendencies amid the coronavirus pandemic. Their earnings are holding up much better than other industries. With a general positive trend, these stocks might be suitable both for long-term investment as well as day trading. Let’s have a closer look at each one of them.
Apple could be a good starting point for traders that want to learn about news trading. Apple makes popular and highly coveted products and launches new releases relatively frequently. News traders may just wait for the next announcement and see how it affects the market. The stock gained around 10% in the past month and is currently traded at $390 on our platform. Though it is impossible to predict the future, Apple stocks look promising with the asset confidently growing since March.
Tesla, with a profit of $104 million in the second quarter of 2020, has now been profitable for four straight quarters for the first time in company history. This means that now Tesla stocks might be considered for inclusion on the S&P 500 index. Within several months Tesla rose from $350 to $1500 and Elon Musk’s plans to build a new eco-friendly and available for public visitors factory in Austin, Texas leaves investors guessing what the new records this company may reach.
Another tech company that shows a strong bullish trend on a 3-month chart is Microsoft. The company’s shares slightly dropped in price after the change in the retail strategy. Microsoft came to the decision to close all the physical stores and entirely switch to online stores instead. However, the dip was insignificant and Microsoft is currently traded at $211 on the platform.
Though Facebook failed to end the ad boycott against its platform – the #StopHateforProfits campaign, – the investors do not seem to be bothered by it. Facebook continues to trade quite well, at $240 per share. This event could still affect the asset, but Facebook is one of the companies that only gained momentum since the beginning of the quarantine.
Tech companies remain highly popular among traders and investors and the obsession with technology currently continues to drive these stocks up. However, it is important to remember that any kind of trading is risky and there is never a solid guarantee of profits. Traders may implement risk management tools in order to control their capital and manage losses.
Disclaimer: Past performance is not an indicator of future performance.
NOTE: This article is not an investment advice. Any references to historical price movements or levels is informational and based on external analysis and we do not warranty that any such movements or levels are likely to reoccur in the future.
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