Stocks I’m Adding To: Key Levels for This Correction
Focus List and Group Requests (26 Total)
We are currently in the midst of a correction, with many sectors being hit. Whether or not it becomes a more meaningful drawdown at the index level, such as a bear market, it is a good idea to build a narrow watchlist of 10 to 12 stocks to focus on during a downturn. I am currently holding approximately 13–14% cash, ready to deploy it as opportunities arise.
Below we will take a look at the stocks I fundamentally like and the price levels I am watching. Furthermore, I have also included several requests from the group with technical levels to watch. When I am looking at requests from the group, I have based the levels strictly on technicals rather than fundamentals.
Importantly, the assumption I am making is one wouldn’t just “buy and keep adding down.” Instead, if a level fails, use stops to minimise losses and look to buy on a pullback/hold of a key level, or an undercut and rally back above that level. Undercut and rally may be the better option given the environment we are in.
Lastly, please note that this is not financial advice; you must conduct your own due diligence before purchasing any of the assets mentioned. Also, always employ appropriate position sizing and utilise stop-losses to protect your capital. I would ensure to read my posts such as the one below to appreciate how to build a position:
List of stocks I feel are attractive to add to, and at what levels, if we see a meaningful correction:
