Coinspeaker
Forget FANG, FAANG or MAGA: DAWN Is New Kid in Coronavirus-Fueled Panic Town

Now the market is surrounded by coronavirus concerns. These fears are in the first place reflected in stocks that continue sliding. As a result of the downward movement, investors wonder which shares to buy to stay in the black and boost their fortune under the conditions given. And the answer is simple: DAWN.

Obviously, the last business to consider is the tourism industry. Amid travel bans in many countries and canceling of most sport and other events, hotel stocks tumble. For example, Hilton Worldwide Holdings Inc (NYSE: HLT) stock has lost almost 7%, Wynn Resort Ltd (NASDAQ: WYNN) has plunged by 12%, while Hyatt Hotels Corporation (NYSE: H) is 12% down.

But there is a way out for those ready to invest. The traders have several recommendations.

Strategic Wealth Partners chief Mark Tepper offers DAWN — the new Wall Street’s stock acronym that stands for the so-called D-A-W-N strategy.

Tepper explained:

“The old saying is, ‘It’s always darkest before the dawn,’ right? So, I’ve got that DAWN, D-A-W-N, strategy for you,” he said. “D is Domino’s Pizza. A, Activision for video games. W, Walmart, to get your toilet paper and ramen noodles. N for Netflix to stream your content.”

He further said:

“This is all the stuff you do when you don’t want to leave your house, and right now, that’s where we’re headed.”

So, Mark Tepper believes in stock of Domino’s Pizza Inc (NYSE: DPZ), Activision Blizzard (NASDAQ: ATVI), Walmart Inc (NYSE: WMT), and Netflix Inc (NASDAQ: NFLX).

In addition, Mark Tepper believes in the potential of some tech stocks. In particular, he is optimistic about Microsoft Corporation (NASDAQ: MSFT), shares of which are trading at $137.69 today. At the same time, Tepper is beguiling out of Apple Inc (NASDAQ: AAPL), as well as Google (NASDAQ: GOOGL) and Facebook Inc (NASDAQ: FB).

He stated:

“When it comes to Microsoft and Apple, Apple’s still hardware-based, so, I wouldn’t be getting into Apple. But Microsoft looks awesome on the pullback. I mean, it’s come down quite a bit. Software should really hold up much better than hardware. So, Microsoft is one that we’re looking at buying right now.”

However, another expert, Craig Johnson who serves as a chief market technician at Piper Sandler, does not buy into Tepper’s idea. On the contrary, he states it is time to invest in Microsoft, Amazon.com Inc (NASDAQ: AMZN), Apple, and Google parent company Alphabet.

He said:

“This is where you want to pull out the playbook of, ‘Where do we really, really want to own these stocks?’ … If you take a look first at a chart of Microsoft, if we see this stock pull back to say the $140 or $132 level area, you’ve got a lot of support down there from a long-term chart perspective. And if you’re a long-term investor, this is where you want to buy it.”

Further, Johnson explained that Apple, Amazon, and Alphabet dropped after a massive sell-off. And if these stocks drop further, they ‘have potential’. For example, Apple’s $225 level would present an opportunity to buy, a 10% drop from the current price. For Amazon, he anticipates the $1,700 level. Finally, the buy spot for Alphabet is $1,000, according to Johnson.

Forget FANG, FAANG or MAGA: DAWN Is New Kid in Coronavirus-Fueled Panic Town

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

141 +