Stock Portfolio Jul 2021

My Journey of stock picking

Reality of the crypto dump started to settle in for me, which prompted me to diversify with stocks. Stocks and cryptocurrencies are two different ball games. Unlike cryptocurrencies, you can evaluate stocks with trialed and tested methods like the discounted cash flow model. Additionally, the market capitalisations of these companies came as a shock to me since a billion dollar crypto project was "respectable" in the crypto space, whereas a billion dollar company is more akin to a penny stock than anything else.

Regardless, I started researching on stocks and stumbled upon some great YouTube content creators for stocks. As a beginner their guidance makes a world of difference and I would like to think that I have picked up a decent amount of knowledge. I predominantly am looking for entries into growth stocks that are ideally: 1. Profitable 2. Positive cash flow from operations 3. Have 0 debt or at least have enough short term assets to cover debt 4. Are in an industry high grow industry.

The first stock I bought was Airbnb Inc. (ABNB) as recommended by The Motley Fool. Since then, I have been trying to pick my own stocks with more strategic entries. My first strategic entry was with HUYA Inc. (HUYA). On the weekly timeframe, I had drawn support and resistance lines. I noticed that HUYA was at a major support line. The Relative Strength Index was around 34 which suggested it was nearly oversold. Though HUYA was negative on its weekly MACD, it was seeing a reversal as the downward momentum of the MACD waned. Lastly, I saw that it was below major weekly EMAs (20 and 50) which showed a decent buying opportunity. All in all, I was ready to get some skin in the game and fully ready to lower my average buy-in price if it dropped to $11.80, which was the next support level. My target by year end would be $30, where I can cash out half of my position to recoup the initial capital outlay. I would likely let the rest of the stock run wild.

HUYA Chart (Weekly) via TradingView

My portfolio is at -5% due to ABNB but it is still early days in this long investment journey of mine.

Portfolio caa 6 Jul 2021 via Saxo

I have identified numerous growth stock companies that I plan to enter, ranging from industries like cybersecurity, gaming, semiconductors, A.I., food, e-commerce, insurance, streaming and genomics. The name of the game is patience. I will simply wait for my alerts on TradingView to signal my entry into these fundamentally sound companies at a great price.

Watchlist via ThinkOrSwim, TD Ameritrade

I'm really excited to be building the stock portfolio from my own research and picks. In the meantime, I'm gonna laugh at how diversified my portfolio is.

Portfolio V2 via Google Docs