Technical Signals For US Blue-Chips Stocks In 2024

Written By Guest User

Aries Yuangga, Wakil Penasihat Berjangka

Summary

In our previous analysis, we delved into the fundamental aspects of the "Magnificent 7" US stocks, highlighting their potential for Indonesian investors in 2024. Building on this foundation, we now focus on a technical analysis perspective. This approach will provide a more detailed roadmap for capitalizing on these stocks, offering specific entry points, stop-loss strategies, and target goals to optimize investment decisions in the coming year.

Trading Setups for the "Magnificent 7"

Apple (AAPL)

  • Buy Limit: $182.71

  • Stop Loss (SL): $163.25

  • Targets: $200, $220, $254.74

Commentary: The buy limit for Apple is set near the $182.71 mark, suggesting confidence in the stock's resilience and potential for growth. The stop loss at $163.25 provides a safety net against unforeseen market downturns. The targets are ambitious, reflecting Apple's strong market position and potential for continued innovation and consumer appeal.

Amazon (AMZN)

  • Buy Limit: $133.13

  • Stop Loss: $117.44

  • Targets: $153, $179, $200

  • Commentary: Amazon's buy limit is placed at a strategic point, indicating a potential rebound from recent dips. The stop loss at $117.44 is a cautious measure against volatility, especially considering the e-commerce giant's exposure to market fluctuations. The targets are set with an optimistic view of Amazon's diversification and growth in cloud computing and AI.

Alphabet (GOOG)

  • Buy Limit: $129

  • Stop Loss: $120

  • Targets: $156.34, $170, $178

Commentary: Alphabet's buy limit is positioned to capitalize on its consistent performance and leadership in digital advertising and AI. The stop loss at $120 guards against potential regulatory and market risks. The targets reflect confidence in Alphabet's innovative capabilities and its role in the evolving tech landscape.

Meta Platforms (META)

  • Buy Limits: $317 and $308

  • Stop Loss: $277.24

  • Targets: $404, $440, $481

Commentary: The dual buy limits for Meta Platforms suggest a strategy to average down in case of initial dips, banking on the company's long-term growth in social media and virtual reality. The stop loss at $277.24 is a prudent measure against uncertainties in the tech sector. The targets are set high, anticipating significant advancements in Meta's technology and market reach.

Microsoft (MSFT)

  • Buy Limit: $346.98

  • Stop Loss: $308.2

  • Targets: $400, $431, $505

  • Commentary: Microsoft's buy limit is set at a level that respects its historical performance and stability. The stop loss at $308.2 provides a buffer against potential market corrections. The targets are reflective of Microsoft's strong position in cloud services and enterprise software, coupled with its foray into AI.

Tesla (TSLA)

  • Current Position: Hold previous buy

  • Target: $268 (Reanalysis pending post-target achievement)

  • Commentary: Holding the previous buy position on Tesla indicates sustained confidence in its market leadership in EVs and potential breakthroughs in battery technology and self-driving capabilities. The target of $268 will be reassessed, suggesting a dynamic approach in response to Tesla's volatile yet promising market performance.

Nvidia (NVDA)

  • Buy Limit: $419.15

  • Stop Loss: $362.9

  • Targets: $500, $574, $685

  • Commentary: Nvidia's buy limit is set with optimism towards its dominance in the GPU market and significant role in AI and gaming. The stop loss at $362.9 is mindful of the competitive pressures and market sensitivities. The ambitious targets are indicative of the high expectations from Nvidia's continued innovation and market expansion.

Fibonacci Retracement Analysis: The Key to Entry

Fibonacci retracement levels, particularly the 0.5 and 0.382 levels, are identified as optimal entry points. These levels are often where stocks find support in a bullish trend, making them ideal for setting buy limits.

Risk Management

The specified stop-loss levels are crucial for risk management. They are set to minimize potential losses if the market moves against the predicted trend.

Conclusion

For Indonesian investors looking to diversify into the US market, these technical analysis-based trading setups for the "Magnificent 7" offer a structured approach to capturing growth in 2024. While these setups provide a strategic entry and exit plan, investors should also consider market dynamics and perform regular portfolio reviews to align with their investment goals and risk tolerance.

*Disclaimer:

This analysis is based on historical market data and technical indicators. Investors are advised to conduct their own research and consult with financial advisors before making any investment decisions. The stock market is inherently volatile, and past performance is not indicative of future results. This information is provided for general information purposes only. Consider your investment objectives, financial resources and other relevant circumstances carefully before investing. This is not an invitation or an offer to invest, nor is it financial advice or a recommendation to buy or sell any investment.

Guest User
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