Written by ZEROSYSTEM
Following the market downturn on 09/02/2020, Apple found strong support around $110 so I took a long position around $106 and scaled into it averaging my holding around $110. I may scale in with a bit further depending how the stock trends after the Iphone event on 10/13/2020.
Applied Materials (AMAT)
I'm not going to lie, this one hurt.
I got into AMAT as a value stock around $62 in August and slowly started scaling into a position. After earnings AMAT sold off, had a big run up on September the 2nd along with the rest of the market and dropped like a stone during the market downturn on September the 3rd. Now that the stock is back above $64 I ran it back through TD Ameritrade's Intrinsic Value Calculator and these are the results:
With an intrinsic value of $83.98 it still has plenty of upside so I'm looking to add to this position when it breaks $66 and another possible add at $68.50.
Amkor Technology (AMKR)
Another value stock (semi-conductor) that wasn't able to hold his value after earnings but it fared slightly better than AMAT before it's earning runup recovering most of it's loses. What attracted me to this stock was that it had a decent amount of Intrinsic Value and after doing another calculation with TD Ameritrade's Intrinsic Value Calculator it's still holding it value.
I'm keeping an eye on it after it breaks resistance around $13 looking to add to my position around a break of $14.