At 7:06am ET this morning, Dave Carlsen of The Discovery Fund released his seven favorite stocks to own.
With a portfolio of nearly $2B, you can imagine Dave Carlsen himself may be extremely selective when buying and selling equities or funds.
At the top of the seven stocks to own, Carlsen highlighted “a recession-proof stock which has proven long-term growth, innovation, high profit margins, and scalable business model.”
That stock is Microsoft (NYSE: MSFT), and it’s my favorite trading opportunity for today as well.
You see – often times upon a fund manager making a move and releasing a statement on a stock, retail investors may follow along right away as well. This increases the pace of a stock’s intraday price action.
As a professional trader, I like fast-paced, liquid and profitable price action!
Paired with a stock market catalyst of a multi-billion dollar portfolio manager acquiring more shares of Microsoft as his single largest holding, the chart itself looks perfect for a trading opportunity as we head into the final trading day of the week.
As you may see on the chart above, Microsoft currently is trading right above key support of $172/share. If the stock itself holds that level, I’ll be interested in placing a bullish trade.
If markets sell-off to wrap up the week, Microsoft may follow the trend. That won’t make me shy away from trading it! Below $172/share and $167/share is its first support, or a selling point out of a short biased position.
And of course, I’ll look to pay myself by the end of the day.
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Yours for TrackStar trading,
America’s #1 Premarket and Day Trader
Disclaimer: This is not investment advice. This article is for information purposes only and opinion-based on financial advisor data across a selection of websites. Investors should be cautious about any and all investments and are advised to conduct their own due diligence prior to making any investment decisions.