Wall Street is ready for withdrawal. Netflix is ​​among its attractive purchases

Interview with Coco posted:

Estimated reading time: 4 minutes

By David Pantaleo

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Coco Alessandro Intervist Dow Jones Nasdaq S&P 500 Netflix Boeing Nvidia

On Wall Street, the playing field remains positive and there are new highs around the corner, always focusing on support. Opinion of Alessandro Coco.

Below is our interview with Alessandro Coco, CEO of Unicron Associates, with whom we asked questions about US stock indices and some US stocks.

On Wall Street, the three major indexes continue to move near all-time highs. What are the expected scenarios in the short term?

Congestion builds up on Wall Street and the three major indices have not lost ground despite recent increases.

The Nasdaq Composite travels a short distance from all-time highs and if it manages to breach it it will likely unlock the whole situation, but it cannot be ruled out that the tech roster may follow the S & P500 and Dow Jones.

Overall, my view remains positive on Wall Street as further progress is possible in the short term.

Let’s start with the Nasdaq Composite Index, which is the most technically complex at the moment, indicating February 16 highs at 14,175 points, only to be breached to the upside in order to see more extensions.

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On the negative side, we look first and foremost at the lows of April 20 at 13698 points, a break of which would open the door to a decline towards 13522 points first and then towards 13140 points.

The S & P500 is trying to rise to last Friday’s highs in the 4,194 region, after which there will be bullish followers.

On the downside, watch out for April 20 lows at 4,118 points, which the S & P500 index might drop below to the 3970 area.

It was similar for the Dow Jones Index, which reached its highest levels on April 16 in the region of 34.250, and if those peaks are breached, it will continue to rise in uncharted territory.

Below its April 20 lows in the 33,700-point region, the Dow would lose steam with the risk of a downturn to the 33,000-point threshold.

Boeing is trying to resume its rally after last week’s relative lows. What can you tell us about this address?

Boeing is interesting because it established the April 21 low at $ 230.22, and it rallied well the next day with an intraday correction.

Last Friday, the stock started rising again and continues to rally today and with confirmations above $ 241, it will be expected to extend towards $ 250 first and $ 260 later.

On the downside, watch out for the $ 230 contract, under which Boeing will send a bearish signal with the risk of falling to $ 220 first and $ 210 after that.

How would you rate the current Netflix setup and what strategies could you suggest for this title?

Netflix was unable to recover from the gap scheduled for April 21, highlighting a support area of ​​between $ 490 and $ 505.

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With this support range collapsing, the stock will be able to revert to $ 460/450.

From current levels, Netflix could rebound as well, and I would personally value a buy position above $ 515, aiming to close the bottom gap in the $ 550 region.

Are there any other addresses you want to tell us about on Piazza Avari?

Interesting Nvidia which hit last Thursday’s low on a support zone between $ 572 and $ 595.

The stock is widening after its recovery on Friday and over $ 617 will be expected to extend to its April 15th high of $ 648, and then I expect further gains of up to $ 780.
Under $ 572/570, on the other hand, Nvidia can go down to $ 525.

Trend-Online Vice Principal, born in 1978.
After completing his studies on The classic high school “Antonio Calamo” in Ostuni I entered the world of economics.
For about twenty years I’ve been dealing with it Stock exchange and finance. After working as a financial promoter for several years, in 2005 I joined the Trend-online team as an editor, and later became an editor vice president From the cylinder head. Among the countless other activities, I deal with maintaining relationships with all the experts, analysts and traders who are consulted daily by Trend-online.

My motto is? “Life is like a mirror. If you look at it smiling, it will smile at you.”

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