Stocks in several sectors have plummeted after the coronavirus-driven market meltdown. Airline, energy and tourism stocks have taken a big hit due to the black swan event. Other stocks that have been relatively resilient. Qualcomm (NASDAQ:QCOM) stocks is one of the names that has not collapsed.Source: testing / Shutterstock.com Yes, Qualcomm stock has declined by 18.8% from its 52-week highs, but the correction has largely been in-line with the index correction. I believe that the stock is worth considering at current levels and this column will discuss the reasons for this view.What follows is predicated on what seems like the peaking of the novel coronavirus in the United States and Europe. There are uncertainties related to the timeline for renewed economic growth. Therefore, for any stock, it makes sense to gradually accumulate. Risk-off trade still remains dominant even as markets have seen some respite from selling pressure.InvestorPlace - Stock Market News,...
I can't help but feel bad for Caesars Entertainment (NASDAQ:CZR). As any gaming and resort company in Las Vegas, they are highly dependent on consumer sentiment. Prior to the novel coronavirus upending our record-breaking bull market, CZR stock was on the verge of something special. That's according to Caesars CEO Tony Rodio, who stated that the company possibly had its best two months in its history.Source: Jason Patrick Ross/Shutterstock.com To be honest, I always take corporate announcements with a grain of salt. But in this case, the data backs everything that Rodio had to say. According to the Las Vegas Convention and Visitors Authority, visitor traffic to Sin City increased notably for January and February of this year, to the tune of 3.9% and 4.5%, respectively.Better yet, gaming revenue in Clark County, Nevada also increased 5.1% and 0.5% in the first two months of 2020. While a half-percent increase in February...
The next upside target is a steep uptrending Gann angle at $1768.00. Crossing to the strong side of this Gann angle and sustaining the move will put the market in an extremely bullish position....
