In the time stress there is always a refuge!
We are being bombarded by news from a new C-19 Variant. Market has reacted harshly to the news and S&P 500 dropped significantly. It was one of the most volatile black Fridays on the record! However, there are few stocks mostly the shining stars of pandemic that are lucrative to buy right now. I have been obsessed with FLGT. That is evident by just looking at my profile.
You may ask why I am coming back and making the case for them right now. One: there is nothing better to buy right now. Stock market mostly is having a pull back and there are very few "pandemic stocks" with sound fundamentals. Your alternatives are likes of PTON and Roku and ZM. They may look better or worst on the chart but are not as good fundamentally as FLGT. During the time of stress only those will survives that have positive cash flow and some savings in the bank. Just look at late 90s tech bubble for example. Your survivors were AMZN and Yahoo (back then it was king of search engine) and etc, they had enough money that investors testament didn't matter much in their survival.
So back to FLGT, we have a significant resistance at 103 may this resistance point becomes a support on Monday and gets defended on Tues, there is a very good chance that 110 level will be conquered as it is not as strong a resistance point. Past that point I think the pathway to 116-120 level is clear.
As always do your own research!
You may ask why I am coming back and making the case for them right now. One: there is nothing better to buy right now. Stock market mostly is having a pull back and there are very few "pandemic stocks" with sound fundamentals. Your alternatives are likes of PTON and Roku and ZM. They may look better or worst on the chart but are not as good fundamentally as FLGT. During the time of stress only those will survives that have positive cash flow and some savings in the bank. Just look at late 90s tech bubble for example. Your survivors were AMZN and Yahoo (back then it was king of search engine) and etc, they had enough money that investors testament didn't matter much in their survival.
So back to FLGT, we have a significant resistance at 103 may this resistance point becomes a support on Monday and gets defended on Tues, there is a very good chance that 110 level will be conquered as it is not as strong a resistance point. Past that point I think the pathway to 116-120 level is clear.
As always do your own research!
Not a Financial Advise, I may have an open position in this underlying.
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