NVDA +26.79% and GOOGL+11.93%: Swing Trading Strategies in Hi-tech & Volatility Balance, Correlation AnalysisArtificial Intelligence (AI) is increasingly becoming an integral part of our daily lives and is swiftly gaining traction in the financial sector as well. As we explore the performance of a select group of stocks, namely AAPL, ADBE, AMBA, AMZN, BIDU, CNDT, DMRC, GOOGL, GPRO, IBM, META, MSFT, NVDA, QCOM, VERI, and XRX, it's clear that AI is proving to be a powerful tool in driving their future growth potential.
Tickeron, a reputable AI-powered analytics platform, has given this group a favorable rating of "Strong Buy". This positive outlook predicts a further increase of over 4.00% within the upcoming month, backed by a confidence level of 63%. The strong buy sentiment is further supported by the daily advancing-to-declining volume ratio of 1.64 to 1 from the last month, a bullish sign for this group of AI and tech-focused companies.
Interestingly, three stocks from this cluster - are demonstrating similar positive trends based on volume indicators. Their average projected growth likelihood stands at an impressive 77%, further indicating the upward momentum these companies possess.
While the traditional methods of financial analysis are not disappearing, the integration of AI in predicting market movements and identifying lucrative investment opportunities cannot be ignored. In fact, it is worth considering trying AI Robots for algorithmic trading.
Algorithmic Trading Software, powered by AI, can perform a vast number of trades at speeds and frequencies that a human trader cannot match. Not only does it increase the speed and efficiency of trade executions, but the AI algorithms can also analyze large data sets, identify patterns, and make decisions based on statistical probability that optimizes profits.
GOOGL moved above its 50-day moving average on September 25, 2023 date and that indicates a change from a downward trend to an upward trend. In of 40 similar past instances, the stock price increased further within the following month. The odds of a continued upward trend are .
The Stochastic Oscillator demonstrated that the ticker has stayed in the oversold zone for 1 day, which means it's wise to expect a price bounce in the near future.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where GOOGL advanced for three days, in of 349 cases, the price rose further within the following month. The odds of a continued upward trend are .
GOOGL may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Aroon Indicator entered an Uptrend today. In of 335 cases where GOOGL Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
The Momentum Indicator moved below the 0 level on September 20, 2023. You may want to consider selling the stock, shorting the stock, or exploring put options on GOOGL as a result. In of 94 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for GOOGL turned negative on September 20, 2023. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 50 similar instances when the indicator turned negative. In of the 50 cases the stock turned lower in the days that followed. This puts the odds of success at .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where GOOGL declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 92, placing this stock better than average.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. GOOGL’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (6.146) is normal, around the industry mean (17.316). P/E Ratio (27.548) is within average values for comparable stocks, (41.697). Projected Growth (PEG Ratio) (1.236) is also within normal values, averaging (3.542). Dividend Yield (0.000) settles around the average of (0.025) among similar stocks. P/S Ratio (5.804) is also within normal values, averaging (8.578).
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a holding company with interests in software, health care, transportation and other technologies
A.I.dvisor indicates that over the last year, GOOGL has been closely correlated with GOOG. These tickers have moved in lockstep 100% of the time. This A.I.-generated data suggests there is a high statistical probability that if GOOGL jumps, then GOOG could also see price increases.