Hottest Stocks in CW 30/22

‘Fear of missing out’ – or in short FOMO – is causing traders to purchase stocks which have already experienced significant price increases. This trading pattern could be observed last week with a whole range of renewable energies stocks. Indeed, three of the top five FOMO stocks - PNE Wind, Enphase Energy and 7C Solarparken - are from this sector.

The trading pattern ‘buying the dip’ is when traders buy falling stocks in the hope of a bottoming out - i.e. an imminent turnaround. This is what happened last week with the troubled gas trader Uniper. The cutbacks in gas supplies from Russia put such a strain on the company that it applied to the federal government for significant financial support at the beginning of June. After two weeks of anxiety - including a slump in the share price - the situation has eased. In addition to the extensions of loans, it is now certain that the German government will take a 30 % stake in the company. The restart of gas deliveries through the Nord Stream 1 pipeline provides additional hope. Previously, the gas pipeline was out of operation for ten days of maintenance. Nevertheless, the vast majority of the wikifolio community agrees that the Uniper share is not currently worth buying.

Last week, wikifolio traders saw profits on the crypto trading platform operator Coinbase. After the prices of more significant cryptocurrencies recently showed signs of life again, the price of Coinbase stocks naturally rose as well. wikifolio traders, however, do not seem to believe in a long-term recovery and therefore sold their stocks.

A fortnight ago, many wikifolio traders were still anticipating a "dip" in the Chinese Tesla competitor BYD’s stocks, however last week many seemed to lose heart and sold their stocks at a loss. Operationally speaking, things are going well at the e-car manufacturer, according to trader Roland Weis (Aktienkampagne): "The number of vehicles sold is rising continuously. In addition to purely electric vehicles, hybrid vehicles are also being produced. Many new models are said to be in development, and the company has series production under control. So, the increase in sales and profits fits. The company has a good chance of positioning itself as the leading Chinese electric car company." In CAN SLIM, Roland Weis' top wikifolio, the BYD share is currently weighted at 2.4 %.

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