In today’s video, I’m going to share my number one stock pick for June 2022 and how I think it could play out. Of course, this isn’t a recommendation to buy, sell, or trade—just my personal opinion on what I’m watching this month.
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There are a lot of stocks that have seen significant sell-offs lately. If you take a look at the 52-week drawdowns, companies like Carvana are down 91%, Peloton is down 89%, and many others are in similar situations. These are stocks that still trade weekly options and have decent volume, so they’re not just penny stocks—they’re generally priced above $15 a share.
So, what’s my top pick for June 2022?
While many of these stocks could perform well in the months to come, I’m focusing on Zoom (ZM). Here’s why:
1. Zoom (ZM)
Zoom has had a massive pullback after its explosive run, but it’s starting to show signs of life. The stock has found support around the $100 mark, which is also a key psychological level.
It’s starting to break out of its descending trend line, and the volume is picking up, especially after earnings. That’s a good sign that buyers are stepping in.
Right now, I’m watching how it behaves around the $100 level. If it falls below $90, I’d step out, as that would indicate it’s not as stable as expected. But for now, it’s looking strong, and I’ve set my stop just below this red line on my chart.
By the time you watch this video, it might be three or four days into this move, so keep an eye on it. If the momentum continues, this could be a solid pick for the month.
Bonus Pick: JP Morgan (JPM)
Another stock on my radar is JP Morgan (JPM). It’s down 25%, but it’s starting to show some signs of recovery.
We’re seeing a lot of volume coming in, and it’s basing around the $120 level. It’s possible we’ll see a bounce from here, although it could also roll over again like it has in the past. But if it holds, it could be a good opportunity, especially in a weaker market.
Conclusion
So, Zoom is my number one pick for June, with JP Morgan being a close second. If you’re looking at financial stocks, Bank of America is also following a similar pattern, basing around $35, although the volume isn’t as strong.
I hope this insight helps you as you navigate this market. If you want to keep learning more, check out my other videos or explore my options trading channel for more in-depth strategies.
Thanks for watching, and I’ll see you in the next video!
