The bear market of 2020 did not last long, and the rise that took place after a strong market fall in March is called the strongest in history. Many analysts expect another phase of decline this year and believe that the market has broken away from the realities of the modern economy. Even today, we are seeing serious corrections in the market, but the growing volatility should not deter us from buying stocks. Rather, on the contrary, the fall gives a good opportunity to buy securities at a low price, which will result in a large profit in the long run. All the securities that we will consider are trading far from their highs, which means that there is a high chance of reaching these levels in the near future, so the question is: Where to invest money in 2021? Already solved!
Peloton shares forecast for 2021
Peloton is the largest interactive fitness platform in the world. The company generates revenue by selling innovative exercise equipment and subscribing to various classes and workouts. Sales have surged over the past three quarters, with fitness enthusiasts unable to attend gyms and forced to work out at home.
Over the past year, Peloton has taken several steps to solidify its status as a fitness industry leader. Several new products were introduced, including treadmills and cheaper models of exercise bikes. The company has signed a deal with artist Beyonce to create exclusive music for its platform. It also acquired the commercial company Precor, which is also engaged in the production of exercise equipment. And more recently, Peloton management announced that the company will start selling its products in Australia, and an active partnership with Adidas begins.
From a technical point of view, the price of Peloton shares in 2020 has increased significantly from the level of 17 to 170 dollars per share. However, now the quotes are being corrected and fell below the $100 level. In November last year, the price also fell below $95, but quite quickly the stock continued to rise. The current decline also looks like a good signal to enter the market. The nearest target for a rebound from an important support is the $140 level. And after the breakout of the $170 level by buyers, you can send the price above the $245 level. An aggressive deal is a purchase already at the current levels with a close stop below $90. If we consider the conservative option, then we should wait for the breakdown of the $120 level, this will indicate the completion of the formation of the "Double Bottom" reversal model in order to work out the pattern at the $143 level.
Roku shares forecast for 2021
Walt Disney and Netflix became the leading companies in online broadcasting during the pandemic. But Roku, which makes streaming devices, had its best stock gain in the past year, which was more than 450%. And the company is just beginning to expand the scope of its services. According to management, in 2020, Roku OS was the best smart TV operating system in the US, accounting for 38% of smart TVs sold. Despite the high sales of the devices, Roku actually gets a lot of revenue from advertising sales. Advertisers are increasingly abandoning traditional TV channels and moving to streaming platforms that offer more accurate ad targeting, and Roku is preparing to take the maximum share of these sales.
From a technical point of view, Roku's share price rose from $58 to $485 a share last year. Now we are seeing a correction, but the company's quotes were not allowed to fall below the $322 level. It is worth noting that the values of the RSI indicator fell below the level of 30 for the first time in a year, this indicates that the shares are oversold and another wave of growth may soon follow, as it was in March 2020. A strong signal for buyers will be a breakdown of the $377 level, such a price movement will indicate the end of the downward correction and the resumption of the bullish trend with the first target at $485.
Palantir shares forecast for 2021
Palantir is an American company that develops data analysis software for organizations. In simple terms, Palantir's specialty is big data business analytics. The company's main customers are intelligence agencies, investment banks and hedge funds. Previously, the company was called the most mysterious IT startup of our time. More than half of Palantir's business is carried out through government contracts. Some investors believe that this dependence of the company's business on only a few customers is a risk factor, and Palantir recognizes this. However, such annual state contracts can also be regarded as a sign of stability. After all, there is no reason to believe that the American authorities will immediately abandon the development of Palantir. The US government is still the company's biggest customer.
From a technical point of view, Palantir shares are pushing back from the support area, which is located at the level of 22 dollars and 50 cents. This level was tested by the bears several times last year and there was also an attempt to break down in March of this year. In the first few weeks of trading after last year's IPO, there was no strong growth in the share price, but later the price was able to test the maximum at $45 per share. The current drop occurs within the descending channel, as soon as the quotes can rise above the $27 level, we can talk about the end of the downward correction. In this case, the target of the rise will be the level of $33. Already with the breakdown of the downward trend line on the RSI indicator, we can consider the price rise to the local maximum at $45 per share, is this not the best solution for the question of Where to invest money in 2021?