Following a strong selloff during the start of the week, US Indices consolidated for a major part of the day as no significant movements were made, with US Treasury Secretary Janet Yellen set to testify to the House of Representatives today with regards to the Coronavirus and Cares Act. The Fed is set to announce tapering in next month’s FOMC meeting
- Plug Power (PLUG) was down 6.11%
- JD.com (JD) was down 5.04%
- Tilray Inc (TLRY) was down 4.47%
- Teva Pharmaceutical (TEVA) was up 3.85%
Stocks to watch:
With the travel industry on the recovery, Expedia is trading post-COVID levels, rising 11% over the past month. The travel industry is still not operating at full capacity there could still be substantial more upside as vaccination rates is on the increase.
Revenue surpassed expectations by $128.36 million during last month’s earnings reports. The company’s focus has shifted to developing a superior and frictionless app and online features.
Following a strong rally that saw a break of the 50 and 200-day moving averages, a possible retracement lower to $154 - $157 should be levels to consider for possible entry.