VantagePoint Vantagepoint A.I. Hot Stocks Outlook for August 30, 2024 Stocks $ABBV, $NOC, $DGX, $KO, $SIG, $PSA

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The Hot Stocks Outlook uses VantagePoint’s market forecasts that are up to 87.4% accurate, demonstrating how traders can improve their timing and direction. In this week’s video, VantagePoint Software reviews forecasts for SPDR SPY($SPY), Abbvie Inc.($ABBV), Coca Cola ($KO), Quest Diagnostics ($DGX), Signet Jewelers ($SIG), Northrop Grumman ($NOC), Public Storage ($PSA).

SPDR SPY ETF ($SPY)

Hello again, traders, and welcome back to the Hot Stocks Outlook for August 30, 2024. Hope you’re all having an excellent week out there in the financial markets. As always, we’re going to take a look at the most recent VantagePoint predictive forecast. If you haven’t already, make sure you click on the link in the description below and sign up for a live demonstration to learn all the specifics about how these predictive technologies are helping traders make much better trading decisions.

So, we’re going to go ahead and start out. We’ve got shares of Coca-Cola, some newer opportunities here in Signet, Public Storage, and also review many of these opportunities from the previous several weeks to highlight how these updated forecasts are helping traders manage their opportunities moving forward and really be adaptive to what’s going on in the broader markets. But, as we typically do, we can look at the broader markets via our SPY ETF, and so what we’ve seen here is we’ve gotten a really nice rally that’s brought us up to those yearly highs to where we’re up about 18%. But more recently, we’ve really seen things run pretty sideways over the past couple of weeks, and so this is why it’s especially important to be positioned in the right assets that are going to benefit even when the SPY might be going sideways where there are a lot of great opportunities playing out.

Coca Cola ($KO)

Coca-Cola ($KO) is out there, and so we can start out here with shares of Coca-Cola, which really actually is a great example of how all of these predictive indicators work together to aid the trader in their trading approach here. And so what we have here is daily price action, right? So each one of those candles is going to represent a full and complete trading day. You can see we’re looking at about a couple of months of data here in shares of Coca-Cola, and so right up against all that price data, the first thing that you’re going to recognize there is that there is a black line and a blue line value. Now, the black line is a simple moving average, so this is a very common technical analysis indicator. In this case, it’s a 10-period. So, to look at the previous 10 close prices, add those all together, and then divide by that number, and that acts as a good baseline, right, to let us know where market prices have been. But the weakness with tools like this is that all of the data comes from the past, and it only looks at one market in isolation, so it really gets dragged around and lets you know what already has occurred.

And so that’s why what we want to do is compare that value to the VantagePoint predicted moving average. And for this number, essentially, a price of future prices moving forward for that to get calculated and plotted on the chart—well, this is where the technology of artificial neural networks comes into play and is performing what we would call intermarket analysis. And so what A.I. is very good at doing is taking in a huge amount of data and then summarizing that into an output with a very highly accurate prediction. And so what the inputs are that are going into our analysis of Coca-Cola are specific to that stock. It can be things like the broader indices like the SPY or the NASDAQ, but it can also be important ETF groups and individual stocks that are found to share important market correlations. And this can be leading and lagging relationships, inverse and positive correlations, and so it’s very important to do this analysis really on the whole and get a good forecast and output moving forward. But, you know, this goes all the way down the line even to things like global interest rates, the value of global currencies, the dollar plays a big impact on where stocks are moving generally higher or lower, and also global commodities like gold, oil, copper, and soybeans, whether, again, they be relevant to that target market in producing these accurate forecasts.

And so what happens is these predictive indicators help to skew, in this case, the blue line above the black line, indicating to traders very early that, look, the overall trend is now shifted to the bullish side. In this case, you may want to go ahead and look to take long positions. You see the market’s up over 13.3% in the past 35 trading days, but that’s just one part of the forecast here. To really round out these predictive forecasts, we have the VantagePoint predicted neural index that you see at the bottom of the chart, highlighted by this bar that you see goes from green to red and back to green. And we also have a predicted trading range, so an intraday prediction of what the next day’s high and low is likely to be, and this is where traders can really help fine-tune their entry.

And so what you’ll notice is in this and subsequent forecasts is you see how we get our neural index very rarely going down to a red configuration here. You see when it does, we tend to get a little bit of sideways price action over the subsequent couple of trading days, but as that momentum comes back into the market, well, that’s where we see that momentum pick up and shares go higher. And so what’s really exciting about this are things like the VantagePoint predicted highs and lows. And so what we’re looking at here is all of these predictions filled in by the actual market data so we can see how accurate all of those predictions were. And so what’s really impressive about this is we’re looking back at two months of data running through earnings, and you see that early on really nice entries here right before earnings, but repeatedly what happens is the software is able to look at those intermarket relationships, adapt to what’s going on, and produce a highly accurate output of what’s likely to occur next. And so you see here, going back to last Thursday, really benefiting earlier in the week if you were able to get an entry near that level, and then more recently, just yesterday, the market moving down towards the predicted low and up towards the predicted high at the close.

So, this is how all of these tools work, and so regardless of whether you’re a swing or position trader or shorter-term day trader, these predictive forecasts are extremely valuable.

Signet Jewelers ($SIG)

Here more recently, in shares of Signet Jewelers ($SIG), you see the exact same approach: that blue line crossing above the black line. This being really one of the more recent opportunities after that big selloff in the markets and seeing which markets are recovering well. Here we see in Signet we get that really strong crossover, blue line over black line, the neural index gets bearish for one day, and you get a little bit of sideways price action, but look how quickly it gets back to bullish, and that momentum is really picking up in the marketplace. So really the last piece of this is, okay, well, how are those VantagePoint predicted highs and lows working? Well, you see before you get that big run-up in prices, really a couple of almost perfect entries, really three of them here, before we get this gap higher and movement higher. Here’s a little bit of a gap down predicted low here, and again, just this week, numerous opportunities to make some money as shares start to accelerate higher, and this moving almost from $80 up towards above $84, $85 per share in very short order.

Public Storage ($PSA)

Here are shares of Public Storage ($PSA). So last week, we looked at another one of these storage companies. It’s the same approach: blue line over black line, neural index very bullish. We see really only one day where the forecast gets bearish here, but the VantagePoint predicted highs and lows really help you fine-tune those opportunities. And so here, even for the entirety of the week, markets have run sideways. Well, look at the forecast, right? It’s no longer moving higher here as it was previously in the week. It’s saying, look, expect this market to really run sideways. If you want to get involved, well, try to buy down towards these predicted lows and the close coming right in the middle of that range. So, again, really nice move here in shares of Public Storage. Really strong crossover here as we see that blue line very solidly above the black line, about a 13.5% rally just over the past 20 trading days.

Northrop Grumman ($NOC)

Now, here we’re actually moving into many opportunities we looked at in previous Hot Stocks Outlooks, Northrop Grumman ($NOC).

And so here in Northrop Grumman, we really highlighted, yeah, we’ve got this crossover to the bullish side, ample opportunity to go ahead and get involved. But more recently, as the market drifts and slants higher, well, how are those predicted highs and low levels working? So we see even if we just want to look at the last week, here’s Friday, here would have been Tuesday, and benefiting as the market starts to continue really its trend here. But look at these numerous predicted lows being hit, and even the predicted highs, right, moving up towards the predicted high. So, depending on your trading style and approach, well, you understand, look, short term, maybe you want to take profits, reset the position, and really make the most of many of these opportunities as we see where the bullish trends are. Well, you know, that’s where you might want to do some of that shorter-term trading. So, about a 20% rally just over the past 32 trading days. We really highlighted a lot of these defense stocks doing quite well, as we see international relations and things starting to heat up a little bit all over the world.

Quest Diagnostics ($DGX)

Here’s Quest Diagnostics and another good example of, we highlighted this last week, seeing the strength come in, seeing that persistent strength, seeing that, okay, here’s a market where you may want to be paying attention. And the Vantage Point forecasts are going to update every single trading day. So, you know, all this data, we did not have any of this available last week, but going into the trading week, well, what is it telling us? Look towards these predicted lows if you want to go ahead and get an entry. And you see that in a market that the S&P 500 hasn’t moved higher much at all throughout the week, you’ve got about a 2% rally just in the past three trading days. So, a really nice place to be positioned within the portfolio.

Overall, you see this has turned into a pretty nice move and looks like it may continue, about a 6% almost 7% rally over the past 19 trading days and numerous opportunities here as the market continues to trade up.

Abbvie Inc.($ABBV)

Next, we’ll take a look at AbbVie. And again, I wanted to bring in many of these previous opportunities to highlight that adaptive quality of the forecast, right? If you come into the week, predictions are still bullish, well, maybe you want to add to your position, you know, take some profit, reset positioning, but stay on that bullish side. Well, here shares of AbbVie, and so what we saw is that, okay, well, the trend is very bullish. Last week we took a look at this, and okay, well, there have been these all these opportunities to get involved as the market trades higher, but look what started to occur here as our neural index gets bearish, letting you know, okay, at the very least, be prepared for some short-term weakness, but now you’re just getting that crossover indicating that the trend is now shifted to the bearish side. You may want to go ahead and just take profits, get out of the way, but this has been a 16% rally over the past 34 trading days.

So, in a market that, you know, shot much lower, shot much higher, eventually got you back to where you were after, you know, 30, is about a month’s time, here getting about a consistent 16% rally over those 34 trading days and numerous opportunities to, as a day trader, maybe add to your position, make some money for the week, and then move on to something else. So, really nice opportunities spread throughout the marketplace. And really what we’re able to do to organize a lot of this is use the Vantage Point Intelliscan feature, and what this allows is traders to really search for their criteria using these Vantage Point predictive indicators to narrow down on exactly the type of trades that fit into their approach and strategies.

And so, this is what’s helping traders really identify new opportunities but also stay very organized and identifying when things shift and start going the other direction. So, we’ll go ahead and leave things there for today, but once again, this has been the Hot Stocks Outlook for August 30th, 2024. Thank you all for watching, best of luck out there, and bye for now.