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Sunday Watchlist

Week of September 30, 2019

It’s been another volatile week for the markets.

All as Democrats float potential impeachment hearings against President Trump.  At the moment, Democrats have asked for impeachment following reports that President Trump asked Ukraine President Volodymyr Zelensky to investigate Joe Biden’s son.  

A complaint by a “whistleblower” was released late last week, alleging the President’s actions “post risks to US national security,” as quoted by The Guardian.  “In the course of my official duties, I have received information from multiple US government officials that the president of the United States is using the power of his office to solicit interference from a foreign country in the 2020 US election.”

The story is creating sizable panic and volatility in the markets. 

As we wait to see what happens next, here are some of the top stocks piquing our interest.

Opportunity No. 1

AbbVie Inc. (ABBV)

ABBV hit a rough patch in early 2018, and just continued to fall, pulling back from $115 to a current price of $74. However, it appears the stock has bottomed out and is just beginning to recover. Insiders seem confident in upside, too. In fact, a vice chair just bought 25,000 shares between $69.86 and $70.73 apiece for $1.76 million. Analysts at Citi just also just upgraded the stock from Neutral to Buy with a price target of $90.

Opportunity No. 2

Activision Blizzard (ATVI)

With the holiday season quickly approaching, shares of ATVI should benefit and run higher, as it has typically done in most. In fact, in December 2016, the stock ran from a low of $34.78 to $45. In December 2017, it ran from a low of $57.59 to $65. In December 2018, it ran from about $70 to $84. We even saw a brief pop in late 2018, as well. We expect to see more of the same for 2019.

Opportunity No. 3

Starbucks (SBUX)

SBUX is another great holiday stock stuffer. It also has a solid history of running higher in the holiday shopping season, too.  Plus, the stock has been in quite an uptrend since the middle of 2018. While it pulled back in recent days, we do expect it to break out of its consolidation pattern from a current price of $89.80.