There is no doubt in it that NYSE is one of the biggest exchange in the world, there are so many valuable stocks are added in NYSE, a big list of stocks can be seen over there. Some of the NYSE stock exchange stocks are seeming prominent to watch out this year. According to our trading experience and knowledge we believe that all these top trading stocks of this exchange should be given higher priority this year. They are some of the most active stocks of this exchange and they are as follows:
- BAC:Bank of America is one of the biggest stock of NYSE, provide financial services and almost we all are known to this stock very well. According to the market chart, we believe that still in long term market is in uptrend because its still following the wave of year 2016, which was up recently. So far almost 50% retracement has been seen in the stock of BAC.
Keep in mind that the area of $22 to $33 is the area of a seller area, means ot say that a big player is still there who can smash the market price back to the downside. As shown above in the image this is known as a market cycle pattern also and important to know that buying should be avoided whenever this kind of pattern arise on chart. But above the seller area which is a price of $34 would be a buyer area later, over there we can look forward to make a buy. For more information just look out our day trading strategies and some other breakout pattern strategies section.
Selling has been seen from the price of $31, $33 so that’s important to understand that how market will react once again after getting over there the same prices. That’s why just keep patience and let the market cross $33 area at first.
- JPM: J.P.Morgan Chase & Co
JPM Known as one of the biggest stock in the USA, its also one of the biggest banking sector provide a facility of investing, financial service etc. Listed in NYSE and trader’s can directly buy and sell this stock from NYSE trading platform. JPM is well popular company in all over the world and its market capitalization is also very high which make this stock much differ from other’s and a big trading volume can be seen every day in this stock on NYSE.Let’s have a look on the market price chart analysis:
According to the chart study we can clearly see above as shown in the char that market is making a double top on a high peak which means that still there are chances that market can come down but overall the long term trend is still up means to say that high chances that market would go up in future. Double Top chart pattern shows a reversal sign on high market area’s there is no doubt in it that we has got that sign above on high area and the price is really crucial for us.
$120 to almost $91 is becoming a range of seller and we have to wait some time for next bull run from here, this stock is really very important to watch out this year because its up there on a very crucial stage and anything can happen in this stock. The first possibility is upside no doubt in it, overall trend is up. But on the other hand this is also important to know that whenever a trend start to reverse that time we able to see this kind of pattern on chart mostly which is called a market cycle pattern.
From the current market condition its better to avoid our buying at the moment, we believe that for a buy order we should wait at least for the next important level breakout which is a breakout of double top pattern which is on almost $120 area. According to the Fibonacci levels this is not a big downfall still small and if we see that market break’s through the area $120 in future it will be a good news for all the fresh buyers.
- BA: The Boeing Company
BA one of the biggest USA company deals in manufacturing and selling airplanes, satellites, rockets etc. The business of this company is extended in all over the world, and one of the very famous stock of NYSE. Couple of weeks back we had seen a breakout above its all time high which was around to $396 almost. Now the question is what we should buy or sell? This is also seeming one of the interesting stock for the year that’s why added in the rank no 3. Lets have a look on stock chart analysis.
According to the chart analysis as shown above the momentum is seeming up once again after that consolidation phase or we can see it as a profit booking area for the big player, once again the market trend is resuming for now but the range $370 to $395 would be really very important, if we see that market does not get any support in future from this area $370 to $395 then more downfall may come in the price of Boeing Stock.
Keep in mind that a breakout is not a buying opporutnity immediately after its breaks through, we have to mesure out so many things before a buy or sell, there is no doubt in it that pattern is seeming a good one for buy but sometime it can react like a trap also and we can lose our money above there. The best possibility would be check out for a support role here, and according to the chart and our study mostly we have seen that market does try to come back to its supportive area before the bounce which is $395 here.
Since 2 months the stock price of Boeing is making a crazy move and still going above but for better safety it would be important for us to wait at least for a reversal from up there. Furthermore if we see that bull run goes continue this year a big amount of profit can be made in this stock by the end of this year
Final Words: These were the top 3 stocks selection for the year and we have given our best regarding analyzing the market. Investing in Finance team always try to concentrate on big players psychology and action, We hope you have liked the content happy trading, furthermore if you have any query just drop down your comments below or you can write us by contact us area section