The stock market continues to perform well as we approach mid-year, with the S&P 500 and Nasdaq Composite achieving new record highs, driven primarily by tech stocks and the artificial intelligence boom. However, there is uncertainty about whether this upward trend will persist. Potential factors that could halt or reverse gains include persistent inflation, which might prevent the US Federal Reserve from cutting interest rates, and potential surprises in upcoming elections that could trigger a market pullback.

Alibaba (BABA)

Chinese e-commerce giant Alibaba is expanding globally, targeting small businesses in the US and Europe. Its business-to-business platform, which caters to companies outside China, has introduced a new service called “Alibaba Guaranteed.” This service assures buyers of delivery, payments, and dispute resolution.

BABA (Daily). This stock has an obvious supply and demand area. Aiming high-level in 90.00 with a buy limit around 77.50, a solid resistance since December 2023 which turned became the support since May 2024.

We try to find out which stocks have already beaten the market this year, but could still come out ahead in the second half of the year and beyond. These 2 companies are profitable to hold for the next 6 months:

Delta Airlines (DAL)

Delta Air Lines offers scheduled air transportation for passengers and cargo both domestically and internationally. Additionally, its refinery segment supports the airline by producing jet fuel and securing additional supplies through third-party agreements.

Delta Airlines is up more than 26.3% year-to-date. 81% of analysts rate the stock a buy and consensus price targets offer an upside of 21%.

DAL (Daily). Traded in a very smooth bullish trend from the start of 2024 until now, this stock still has upside potential. Wait for a fair correction to 48.20 and target the highest level 53.80.

Amazon (AMZN)

Amazon offers a wide range of products and services, including merchandise and content for resale and products from third-party sellers. Amazon serves consumers through online and physical stores, emphasising selection, price and convenience.

Amazon is up more than 19.3% year-to-date. 83.1% of analysts rate the stock a buy and consensus price targets offer an upside of 22.5%.

AMZN (H4).  Based on the 3-month projection line, Amazon's buying level should be around 175.80 and the target is around 193.80. Wait for a correction to enter at a discount.


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Fullerton Markets Research Team

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