There are generally two types of Coronavirus stocks to buy during the outbreak:
1- The ones that will take a massive hit.
2- The ones that will prosper.
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Coronavirus Stocks to Buy Later
The stock investment strategy for the first type is to wait for the worst of the worst to happen with the coronavirus outbreak. Then buy and wait long enough for the coronavirus stock market to bounce back once the coronavirus has gone away.
Examples are Marriott (MAR), airlines like Delta (DAL), restaurants, dating apps like Match (MTCH), and anything that requires people to go out in public.
Technical Analysis of Stocks that Take a Massive hit During the Coronavirus Pandemic
Let’s take Marriott International stock (MAR). Looking at the daily chart, you’d notice a prefect double top bearish reversal chart pattern with the neckline at the 50% Fibonacci retracement level of 104.83.
Our Premium Investing Group (PIG) members set a buy limit order at this exact level last week to start buying their way down.
If the markets confirm a break below this level, we could see the stock price drop even further. As of now, the most likely levels include $93.64 and $77.55.
Coronavirus Stocks to Buy Now
My investment strategy for the second stock type is to buy now while the markets are panicking on fear of a financial crisis in 2020.
Then SELL once the coronavirus comes under control.
Examples include Zoom (ZM), Coronavirus vaccine labs like Moderna and Gilead, companies that produce sanitary products.
These are both medium to long-term investment strategies and are not suitable for day traders. I use the Ichimoku cloud strategy and Fibonacci retracement levels to identify the best buy and sell levels.
Example of Stocks that Could Prosper during the Coronavirus Outbreak
Due to the fear of Coronavirus, many businesses and large companies are canceling their in-person meetings, conferences, and events. The likelihood of these businesses to upgrade to premium membership for telecommunication services such as Skype, WebinarJam, and Zoom has gone high. Learn how to conduct investment analysis on your own, in accordance with your risk tolerance here.
Looking at Zoom (ZM) in particular, its stock price has already been surging. However, the volatility could continue, providing buying opportunities at lower prices. Some buy limit order ideas include 107.31 and 98.63.
Investing in such stocks could also involve a high level of risk, so personally I will be taking profit in a couple of months as the coronavirus fear dies down.
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