Shopping for Strength in the Stock Market? Swing by The VIPSHOP. $VIPS – March 18, 2021
VIPS SQ PYPL AAPL
This is Scott with your Chart of the Day. I want you to keep an eye on Vipshop ( NYSE: VIPS ). For some reason, this stock never goes down. While the market is crazy and volatile and we are seeing some pretty strong breaks of moving averages in stocks like Square ( NYSE: SQ ), PayPal ( NASDAQ: PYPL ), Apple ( NASDAQ: AAPL ), some of these major leaders, for whatever reason Vipshop ( NYSE: VIPS ) is too cool for school. It is just holding up in trend above all the major moving averages, even on crazy days in the market like we had today.
I don’t think that you should buy this right now because, in my opinion, it is quite extended and definitely could use a healthy pullback to support, but I think it’s worth watching. Maybe potentially, start a little off of the daily 8 exponential period moving average. We had a good volume pickup today and as I said, it is showing some definite strength in a choppy market. So keep an eye on Vipshop ( NYSE: VIPS ), I don’t know why it never goes down.
I actually owned this stock around here, I sold it, (you can see this line I have here) because of earnings. I think I bought the stock on this day here, maybe it was this day, just leading up to earnings. I thought maybe we will get a little bit of a pop or whatever and I ended up selling it because I only had a small gain, but I tell you, that was my worst trade of the year; because the stock is up almost 30 percent since then. Wow, some definite strength in the market, we just have to find it, and evidently, it’s at the Vipshop ( NYSE: VIPS ).
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