August: "But the coming of August also means entering what historically has been the most treacherous stretch of the year for stocks, according to data going back to 1928 compiled by Bank of America analyst Stephen Suttmeier. He finds that the S&P 500 index had a negative return averaging 0.03% in August, September, and October—the worst three-month span of the year for the big-cap benchmark. In fact, they constitute the only three-month period that averages in the red." (Barrons)

https://www.barrons.com/articles/stocks-news-robinhood-sp500-51627692215?mod=hp_DAY_Theme_1_1

August is going to be a volatile month. Going to look for some pockets of trading opportunities. Hope that the China-tech issues will die down eventually...

Titan International (TWI)

Titan International, Inc. is a leading global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products. The company globally produces a broad range of products to meet the specifications of original equipment manufacturers (OEMs) and aftermarket customers in the agricultural, earthmoving/construction, and consumer markets

Observations - TWI has fallen to its support level of 200D-MA and has rebounded and closed at above its 20D EMA and touched its 50D MA. I believe that the downtrend may have reversed.

Possible play - entry price ($8.62), cut loss ($7.15), 1st target ($10.80, RR at 1.48x) and 2nd target ($11.87, RR at 2.2x).

GlaxoSmithKline (GSK)

GlaxoSmithKline is one of the world's leading research based pharmaceutical and healthcare companies and is committed to improving the quality of human life by enabling people to do more, feel better and live longer. They also have leadership in four major therapeutic areas: anti-infectives, central nervous system (CNS), respiratory and gastro-intestinal/metabolic.

Possible turnaround play due to presence of activist shareholder and imminent spin-off play - https://www.barrons.com/articles/buy-glaxosmithkline-stock-51627546500

Observations - GSK's moving averages seems to be aligned for a possible uptrend

Possible play - Entry price ($40.14), Cut Loss ($38.19), 1st Target ($42.45 at RR 1.18x) , 2nd Target ($48.21, at RR of 4.14x)

Ethereum (ETH)

Crypto assets seem to be on a re-bound. My selective pick is ETH.

Observations: Double bottom. Moving average are aligned for a continuation of an uptrend. Price objective target at $3000-$3200 (best case) and $2700-$2800 (base case)

Disclaimer: This is not an investment or trading advice. Please refer to general disclaimer of this blog. If in doubt – please consult with your licensed financial planner or adviser.