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As they say out of every crisis comes the opportunity, the stock markets are also presenting several investment opportunities during the time of Coronavirus crises. The following are some of the best stocks to invest at this time.
EPAM Systems (EPAM)
Epam Systems is a US software development company currently trading at $322. EPAM has outperformed after the Coronavirus stock market crash and is almost up by 50% this year. The company is growing by 15 percent annually, its EPS in the last 3 years has risen from $0.44 to $1.47. The technical side of EPAM is also showing a bullish picture. On the weekly chart, the RSI is above the 50 and appears to be entering in a further bullish zone. The SMA-21 line is indicating a support area near the current market price. The upper-Bollinger band with 2 standard deviations is also suggesting a possible upwards move until $347 (refer to the weekly chart). Currently, both the fundamental and technical analyses favor buying EPAM stock near $307.
Abbot Laboratories (ABT)
The US medical giant, Abbott Laboratories (ABT) that builds the medical devices, and the diagnostics equipment is also a reasonable buy at this time. The company received approval from the US government for the use of its rapid Coronavirus test kit. At the same time, the US Federal Reverse has also committed to buying 150 million of those kits for $750 Million. Since the US government approval, the stock is steady and is currently trading at $103.45. On the weekly chart, the current market price is near the SMA-21 support line, the RSI is above the neutral level and appears to be advancing further in the bullish zone. As with the Fed commitment and sound technical analysis the stock is worth buying near $100.
Dollar General (DG –NYSC)
Dollar General (DG) is an American chain of retail stores and is another stock to buy. The Dollar General is having a great year since the start of the pandemic. Its net sales have risen by 24.4% in the last quarter. The operating profit has also gone up by nearly 80% percent while the EPS has also risen by 89% to $3.12. The stock is trading at $209 with a strong bullish price pattern. On the weekly scale, the MACD is indicating a bullish crossover the relative strength index is well within a bullish zone and is favoring the bulls. Finally, the stock is also keeping above the SMA-21 line. Given the analysis, the stock presents an ideal buy opportunity near $200.
The US software giant Microsoft (MSFT) is trading near $207.82. The stock had earlier dropped to $132 in the Coronavirus market crash but since then it showed a steady recovery and managed to make a high of $232.8 on 1st September. However, some profit booking near its high brought the stock down to $196 in the first week of September. But as the month is ending the stock has also recovered to $208. On the technical side, the weekly chart is showing a Bullish Engulfing pattern that indicates the bulls are likely to take more control in the coming days. The RSI is above the neutral zone and seems to be steadily rising. The SMA-21 line is indicating support near $200, the Mid-Bollinger band is at $208 while the upper-Bollinger band favors a move until $223. The current price pattern is bullish and strongly favors buying the stock near $200.
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