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- Who Pops When the Market Drops? 🚀
Gainers📈 & Losers📉
Our Biggest Gainers & Losers of the Day in the $100,000 Build Portfolio
For the 28th June 2024:
Who Pops When the Market Drops? 🚀
Naughty Oil Tycoons 🛢️
Merck Caught A Cold 🤒
Who Pops When the Market Drops? 🚀
United Health Group was our biggest gainer of the day. Up 4.69%!
4.69% gain on the day for UNH
On a day where the market sank, UNH shined. There doesn’t seem to be any real catalyst for it but I’m not complaining.
UNH Spiked & rallied since their earnings report in mid-April
They reported solid earnings a few months back beating expectations & the stock has rallied just over 14% since then.
Projections for this quarter, (ending the 30th June 2024) is giving the impression they think they’re in for some solid growth.
Estimates are that revenue will be up 6.4% & earnings per share (EPS) will be up 9%. If they can meet or beat those expectations in the next report, I expect we’ll see another jump in price.
On the technicals we’re approaching a resistance level at around $230 which has a 3%ish upside. With the good vibes around UNH right now, I can’t see why they wouldn’t be able to move to previous highs which’d be a healthier 8% upside.
My current holdings of UNH in the portfolio we’re building to $100,000
My current position in UNH is $53.13 which makes up 1.29% of our total portfolio. Nearly 4% profit overall & I’mm happy to hold this one for a little while yet.
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Naughty Oil Tycoons 🛢️🧐
PetroChina came in a close second today. Over 4% gain in the day for them too!
Nothing hugely positive in the news to shout about. But gas & oil prices have been on a steady incline.
If the commodities you mine & sell are on the rise, it stands to reason your stock price would follow suit. And that’s exactly what we’re seeing.
A nice healthy trend for them over the long term - up & to the right.
The only compelling news around PetroChina of late is them being ordered to pay $14.5million in fines for violating US export controls. It cause a dropped in the week & they’ve bounced right back.
What’s $14.5million to an oil tycoon anyway?
PetroChina makes up 0.76% of my total portfolio right now & with a healthy 6%+ dividend I’ll be looking to add to the position.
Merck Caught A Cold 🤒
My biggest loser today was Merck (MRK). Down nearly 5% on the day!
Red but already seeing some bounce back in the after hours market
So what happened with them?
They’ve been working on a new pneumococcal vaccine. I didn’t know what pneumococcal meant either. But it’s a vaccine to prevent against pneumonia, meningitis & sepsis.
They had high hopes for it being rolled out across the US but the CDC (Centers for Disease Control) rained on the parade & said it’d be third in line as a recommendation.
Not ideal. But Merck have other things going on & have been on a steady uptrend for a while now.
In fact, this pullback brings to support level on the daily charts. The drop has been aggressive so might wait for some consolidation before jumping in. But this could be a good time to average down on Merck.
Solid uptrend over the long term & looks like we’ve found a support level
They make up 0.86% of my portfolio & we’re currently down 3% overall on Merck thanks to today’s drop. I guess that gives me even more reason to average down….
That’s all! See you same time tomorrow week 👋
P.S Hit reply & let me know what you thought of today’s newsletter. All feedback is welcomed ❤️
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