It's been another strong week for the major averages. Below are five stocks to watch according to VantagePoint, a platform that uses artificial intelligence and intermarket analysis to predict price movement.
What's On The Charts
- Each candle on the chart represents one day of trading action.
- A trend shift is represented by the two lines crossing. As long as the two lines don't cross, the trend remains intact.
- The black line on the chart (the lower of the two) is a simple moving average.
- The blue line is generated via the AI in VantagePoint's intermarket analysis. It forecasts prices moving forward.
- The green line below the candle chart is a Neural Index. It measures two days' worth of price action, or whether a stock's movement over the prior two days is a source of strength or weakness, which can help predict short-term weakness.
This Week’s Hot Stocks Outlook
Autodesk, Inc. (NASDAQ: ADSK) had a predictive moving average crossover to the upside in late-September (the left side of the chart below), indicating a bullish trend. This was evident by the black simple moving average line crossing the blue intermarket analysis line and indicated an uptrend. Since that crossover, the stock is up over 8 percent.
You can also see the green line forecasting temporary weakness within the overall uptrend. As long as the two lines on the candle chart don't cross, the trend remains intact.
Intel Corporation (NASDAQ: INTC) also had a predictive moving average crossover to the upside in the late-August indicating a bullish trend was beginning. The Neural Index also moved into the “one” position confirming that strength over the short-term. The indicators in VantagePoint gave a clear sign an uptrend was coming.
Since Sept. 1, the stock is up about 25 percent.
Tenaris SA (ADR) (NYSE: TS) had a bearish crossover in late-September and the Neural Index moved to a “zero” position. This indicated that the stock was expected to weaken over the short term. In 20 trading days since this crossover, the stock is down about 7 percent.
Radian Group Inc (NYSE: RDN) had a bullish crossover to the upside all the way back in early September, indicating an uptrend. The green Neural Index line also moved to a “one” position confirming that strength. Radian Group is up about 20 percent since the beginning of September.
Paychex, Inc. (NASDAQ: PAYX) had a crossover to the upside in late-August. That blue line never crossed below the black line, so traders knew with confidence that the bullish trend would continue. In 45 trading days since then, the stock is up about 18 percent.
You can watch an analysis of these stocks in the video below
About the Hot Stocks Outlook
The Hot Stocks Outlook is a weekly video series. It’s designed to show traders how improving their timing is the key to maximizing gains and minimizing losses. VantagePoint Trading Software identifies trend reversals with up to 86% accuracy using the power of Artificial Intelligence. This helps traders get into the right side of trades at just the right time.
VantagePoint is the world’s leading artificial intelligence market forecasting software. Its patented technology forecasts trends 1-3 days in advance for stocks, futures, forex and ETFs with up to 86 percent proven accuracy.
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