Watchlist Wednesday, January 31st, 2024
Dear Investors,
Welcome to this week's edition of our Watchlist Wednesday. We've got some exciting stocks to keep an eye on, so let's dive right in.
1. Advanced Micro Devices ($AMD): In recent news, AMD shares took a hit due to a weak outlook for the first quarter. Despite this, the company made headlines with the launch of a new AI product that saw the stock surge by 9.7% in the following trading session. With this kind of volatility coupled with the company's ambitious ventures into the AI space, AMD is definitely one to watch today. Key levels to monitor are above $165.16 and below $163.49.
2. Starbucks Corporation ($SBUX): As a global leader in the coffee industry, Starbucks continues to impress with its strong brand and significant global footprint. The company's dedication to innovation and customer experience, along with its solid financial performance, make it a compelling watch. However, it's crucial to keep an eye on the potential impact of inflation and supply chain disruptions on the company's operations. Keep an eye out for levels above $99.30 and below $98.10.
3. Paramount Group Inc. ($PARA): This fully-integrated REIT specializes in owning, operating, managing, acquiring, and redeveloping high-quality, Class A office properties located in select central business district submarkets of New York City and San Francisco. With a focus on maximizing the value of its portfolio through strategic locations and proven property management capabilities, Paramount is poised to attract and retain high-quality tenants. Look for levels above $15.25 and below $16.10.
4. Alphabet Inc. ($GOOG): Alphabet, the powerhouse behind Google, continues to maintain its dominance in the tech sector. Its diverse portfolio includes search engine supremacy, digital advertising, cloud computing, and innovative technologies like AI and autonomous vehicles. All these factors contribute to its robust financial performance. Watch out for levels above $145.77 and below $143.68.
That's all for this week's watchlist. We wish you a successful trading week!
Your team at Stock Region
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