My last look at AI stocks buying levels early September had some of the must own AI stocks trading at ridiculously high valuations for instance Amazon was trading on an EC of 148 against a target maximum of 100! Which prompted me to HIT the SELL button on over 50% of my holdings despite the promise of huge gains in revenues as the pandemic sales and profits came in.
Firstly what are buying levels?
Buying levels are high probability technical levels that a stock could trade down to during a correction i.e. it s an achievable technical chart level that could be used to for instance to put in buy limit orders at just above the buying level if one is looking to accumulate more stock in any particular company i.e. the Buying Level for Google (Alphabet) was $1395, so a limit order at $1395 or higher would be the objective depending on how eager one is to gain exposure to the stock i.e. If I really wanted to buy more Google then the limit order would be OVER $1400 as stocks tend to fi