Popular US Stocks traded on POEMS in November 2021 December 8, 2021

Popular US Stocks traded on POEMS in November 2021

Here we feature some of the more popular US stocks – not in any order of ranking – traded by POEMS customers in November.

At a glance:

  • Three indices retraced after hitting all-time highs.
  • US President Joe Biden announced the Chair and Vice-Chair of the Federal Reserve.
  • US to release 50 million barrels of oil from its reserve.
  • New COVID-19 variant strikes.

The three major US indices – Dow Jones, S&P 500 and Nasdaq Composite reached all-time highs in November but retraced slightly after.

Month Open 15,541.26 35,833.65 4,610.62
Month Close 15,537.69 34,482.73 4,567.01
Monthly return -0.02% -3.77% -0.95%

November was filled with high-impact news and volatility. The Joe Biden Administration will be releasing 50 million barrels of oil from the nation’s Strategic Petroleum Reserve. This action will help address concerns about rising oil prices caused by the mismatch between demand and supply during the pandemic. 1

Jerome Powell and Lael Brainard were nominated as Federal Reserve Chairman and Vice Chairman respectively by US President Joe Biden due to their ability to withstand political pressures and maintain independence.2 Later in the month Powell spoke about accelerating tapering that would be discussed in December.3 This could signify that inflation might happen sooner than expected. All three indices plunged shortly after news was released.

Lastly, a new COVID-19 variant, Omicron, was discovered. Scientists are worried that the new variant may be more transmissible or evade the body’s immune response of vaccinated or previously infected people, and thus spark a new wave of infections globally which could cause fear and uncertainty in the market.4

Western Alliance Bancorporation (NYSE: WAL)

WAL’s earnings for this quarter were very positive. Total net revenue was reported at US$548.5 million, an 8% increase from the previous quarter’s of US$506.5 million, earnings per share grew by US$0.01 from previous quarter to US$2.30, which was largely contributed by the fee income which amounted to 25% of the total revenues of US$138.1 million. WAL expects loans held for investment to grow a minimum of US$1.5 billion to US$2 billion from previous guidance of US$1 billion to US$1.5 billion.5 WAL’s shares dropped 6.2% from the opening price of US$117.04 to close at US$109.78.

Technical analysis.

Popular US Stocks traded on POEMS in November 2021

Status: Bearish momentum
Support: US$102.78
Resistance: US$113.40

Alibaba Group (NYSE:BABA)

BABA failed to beat earnings forecasted during this season. The reported EPS of US$1.75 and revenue of US$31.4 billion both missed estimates of US$1.93 and US$31.55 billion respectively. The performance were likely due to China’s slowing economic growth adding to regulatory headwinds. BABA slashed its revenue guidance for its current fiscal year. It previously expected to bring in 930 billion yuan, which would have been about 29.5% year-on-year growth. But it now expects growth to be between 20% and 23% year-on-year.6 Its share price plunged 23.1% this month, from US$165.84 to US$127.53.

Technical analysis.

Popular US Stocks traded on POEMS in November 2021

Status: Bearish momentum
Support: US$125.00
Resistance: US$131.40
Immediate support has to hold with a bull candle closing for potential reversal

Nvidia Corporation (NASDAQ: NVDA)

NVDA’s revenue of US$7.1 billion and earnings per share of US$1.17 beat earnings expectations of US$6.8 billion and US$1.11 respectively for the latest quarter. This could be due to the boosting of demand for NVDA’s chips from increasing demand for services offered by data centres. NVDA expects its revenue to be US$7.4 billion, representing a growth rate of 47.9% year over year for the fourth quarter of FY2022. For November 2021, NVDA opened at US$256.49 and closed at US$326.76, which is a 27.38% increase.7

Technical analysis.

Popular US Stocks traded on POEMS in November 2021

Status: Bullish momentum
Support: US$313.41
Resistance: US$346.47
Immediate resistance must be broken for more upside

Walt Disney Company (NYSE: DIS)

DIS’s share dropped 14.38%, from US$169.21 to US$144.90 this month. The latest reported EPS of US$0.37 and revenue of US$18.53 billion missed estimates of US$0.51 and US$18.79 billion respectively. DIS’s Experiences and Products segment rose 99.4% compared with the year-ago quarter, which was largely contributed by Direct-to-Consumer (DTC) video streaming with a total of 118.1 million paid subscribers, up 60.2% year over year, marking the second straight growth after five consecutive quarters of declines.8 However, DIS is expecting low single-digit million subscribers in the next quarter which signify slower growth9.

Technical analysis

Popular US Stocks traded on POEMS in November 2021

Status: Bearish momentum
Support: US$144.31
Resistance: US$158.24
Immediate support has to hold with a bull candle closing for potential reversal

Paypal Holdings Inc (NASDAQ:PYPL)

PYPL released mixed earnings results for this quarter10. Its EPS of US$1.11 is higher than the estimate of US$1.07 but its revenue of US$6.18 billion is lower than the expected of US$6.23 billion. What caused the shares to fall was the poor outlook for PYPL in 2022. The President of PYPL said that consumers are most likely going back to physical stores to shop instead of shopping online, and this shift in consumer behavior is detrimental to PYPL’s bottom line. For this month, PYPL lost 20.55% from the open of US$232.70 to US$184.89.

Technical analysis

Popular US Stocks traded on POEMS in November 2021

Status: Bearish momentum
Support: US$184.34
Resistance: US$212.59
Immediate resistance must be broken for more upside

Target Corporation (NYSE:TGT)

TGT beat earnings estimates for this quarter11. TGT’s EPS of US$ 3.03 and revenue of US$25.65 billion are higher than the estimates of US$2.83 and US$24.78 billion respectively. Although TGT had a great earnings release, its shares dropped because of upcoming lower margins. The management foresees an increase in cost and is not planning to pass the costs over to the consumers. TGT opened the month at US$261.55 and dropped by -6.77% to close at US$243.84.

Technical analysis

Popular US Stocks traded on POEMS in November 2021

Status: Neutral
Support: US$242.27
Resistance: US$251.71

Home Depot Inc (NYSE: HD)

HD opened this month at US$373 and gained 7.4% to close at US$400.61. HD reported outstanding third quarter earnings. The reported earnings per share (EPS) of US$3.92 and revenue of US$36.82 billion beat estimates of US$3.40 and US$35.01 billion respectively. HD benefited due to the strong housing market, as consumers are investing more as home prices increased by nearly 20% compared with a year ago. In the fourth quarter, HD said that it was not very concerned with the supply chain delays which suggest sufficient stocks.12

Technical analysis

Popular US Stocks traded on POEMS in November 2021

Status: Bullish momentum
Support: US$366.22
Resistance: US$410.31
Immediate resistance must be broken for more upside

Zoom Video Communications Inc (NASDAQ: ZM)

ZM beat estimates with a 35% increase in revenue from last quarter13. The reported revenue of $1.05 billion is higher than the estimate of $1.02 billion. Similarly, earnings per share of $1.11 is higher than the consensus of $1.09. Investors are worried about ZM’s slowing growth as connectivity between countries starts recovering. Additionally, this quarter’s slowest growth since 2018 did not help with alleviating their fears. For November 2021, ZM opened at US$273.20 and fell 22.62% to close at US$211.41.

Technical analysis

Popular US Stocks traded on POEMS in November 2021

Status: Neutral
Support: US$195.80
Resistance: US$296.14

Pfizer Inc (NYSE:PFE)

PFE gained 21.73% this November. It opened at US$44.14 and reached a record high of US$55.70 before closing at US$53.73. This achievement was partly due to PFE’s Covid-19 vaccine pill successful interim analysis14. Also, PFE had stellar earnings this quarter, both its earnings per share and revenue beat expectations15. PFE’s EPS of US$1.34 and revenue of US$24.1 billion beat estimates of US$1.03 and US$21.9 billion respectively. As for guidance, the management is continuing to sign supply agreements and is raising its full year 2021 revenue and adjusted EPS.

Technical analysis

Popular US Stocks traded on POEMS in November 2021

Status: Bullish momentum
Support: US$50.60
Resistance: US$54.93
Immediate resistance must be broken for more upside

Beyond Meat Inc (NASDAQ:BYND)

BYND delivered disappointing earnings results this quarter16. BYND reported a higher loss per share, US$0.87 against the estimate of US$0.39. Reported revenue was lower than the estimate too, US$106.4 million against the expected US$109.2 million. The discouraging outlook did not help given the poor earnings. The management does not expect sales to pick up quickly, and it will face higher transportation and warehousing costs in the future. BYND started the month at US$99.02 and closed at US$70.26 which is -29.05% lower.

Technical analysis

Popular US Stocks traded on POEMS in November 2021

Status: Bearish momentum
Support: US$65.53
Resistance: US$82.99
Immediate resistance must be broken for more upside

Bloomberg analysts’ recommendations

The table below shows the consensus ratings and average ratings of all analysts updated on Bloomberg in the last 12 months. Consensus ratings have been computed by standardising analysts’ ratings from a scale of 1 (Strong Sell) to 5 (Strong Buy). The table also shows a number of analysts’ recommendations to buy, hold or sell the stocks, as well as their average target prices.

Security Consensus Rating BUY HOLD SELL 12 Mth Target Price (US$)
Western Alliance Bancorp(NYSE: WAL) 4.86 13 (92.90%) 1 (7.1%) 0 145.15
Alibaba Group Holding Ltd(NYSE: BABA) 4.76 56 (90.30%) 5 (8.1%) (1.6%) 206.93
Nvdia Corp(NASDAQ: NVDA) 4.54 38 (82.6%) 6 (13.0%) 2 (4.3%) 342.36
Walt Disney Co(NYSE:DIS) 4.50 27 (75.0%) 9 (25.0%) 0 196.75
Paypal Holdings Inc(NASDAQ: PYPL) 4.50 42 (80.8%) 8 (15.4%) 2 (3.8%) 275.83
Target Corp(NYSE:TGT) 4.44 24 (75.0%) 7 (21.9%) 1 (3.1%) 282.79
Home Depot Inc(NYSE: HD) 4.14 22 (62.9%) 11 (31.4%) 2 (5.7%) 403.19
Zoom Video Communications Inc(NASDAQ: ZM) 3.86 13 (46.4%) 14 (50.0%) 1 (3.6%) 301
Pfizer Inc(NYSE:PFE) 3.72 10 (40.0%) 14 (56.0%) 1 (4.0%) 51.33
Beyond Meat Inc(NASDAQ: BYND) 2.47 2 (10.5%) 10 (52.6%) 7 (36.8%) 79.53

To round up

November was a volatile month due to the numerous political events and the unexpected new COVID-19 variant. Generally, companies are still troubled by the supply chain disruptions but are beginning to adapt. In the coming month, one of the key events to note will be the Federal Reserve meeting where quicker tapering will be discussed17.

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About the author

Jonah Sim Hong Chee (Dealer), Lee Ying Jie (Dealer) & Chan Zi Quan (Dealer)

Jonah Sim is a US Equity Dealer in the Global Markets Team and specializing in US and Canadian markets. He graduated from University of Essex with a bachelor’s degree in Banking and Finance.

Ying Jie is a US Equity Dealer in the Global Markets Team and specializing in US and Canadian markets. He is proficient in trading using Technical Analysis, placing emphasis on supply and demand, and price action.

Zi Quan is a US Equity Dealer in the Global Markets Team and specializes in the US and Canadian markets. He is an avid crypto fan and is adept in macro analysis..

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