Best stocks, crypto and ETFs to watch this week – GME, Dogecoin and Invesco Solar ETF in the spotlight

Gamestop Corp. (GME) filed a disclosure with the SEC after Friday’s close, noting the departure of COO Jenna Owens after just eight months on the job. Owens, an elder Amazon.com Inc. (AMZN) and Alphabet Inc. (GOOG) senior executive, was hired in March as part of GME’s high-profile ‘digital transformation’. However, the company has provided few details on the initiative since then and its departure can be seen as a setback, encouraging shareholders to step down.

Investors have lost patience Uber Technologies Inc. (UBER) after the strong acceleration of 2020, contributing to a loss of 14% since the start of the year. Driver shortages, escalating carpool fees, government feuds and stiff competition for food delivery may have taken their toll in the third quarter, increasing the chances of an aggressive backlash to “sell the news.” After Thursday’s post-close report, when UBER is is expected to post a loss of 16 cents a share.

Dogecoin (DOGE) exited a deep base pattern at 16 cents in August, peaking at 35 cents a few weeks later. It posted a lower high in September and rebounded again, nearly completing a 100% retracement in Thursday’s previous peak. The coin has retreated since then, but strong support around 25 cents should ease the selling pressure, creating a potential buying push that could complement a breakout pattern of the cup and grip, with an upside target. just over 50 cents.

To concern Invesco Solar ETF (TAN) Wednesday because passage of President Biden’s massive infrastructure bill may hinge on Tuesday’s highly contested governorship in Virginia. The sector has been moving in tandem with acrimonious trading for several months now, rallying 31% in the last 19 trading days. A Republican victory can be seen as a mandate against big government spending, potentially shifting moderate Democratic votes to the “no” column.

Ford Motor Co. (F) joined the electric vehicle train this year, announcing a series of initiatives to compete with better-placed competitors Tesla Inc. (TSLA) and General Motors Co. (GM). The automaker beat third-quarter expectations and raised its guidance for 2021 last week, adding to a slight increase that posted an impressive cumulative return of 94% in 2021. However, the stock is now approaching the resistance going back to 2011, increasing the chances of a reversal and a decline that could last for weeks or months.

For an overview of this week’s economic events, check out our economic calendar.

Disclosure: The author did not hold any position in the above titles at the time of publication.

This item was originally posted on FX Empire

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