Alphabet, Meituan and more — 5 stocks to watch this week

Additional Names to consider:

Exxon Mobil (XOM US)

US stock markets closed last week with a strong finish, with the S&P and NASDAQ futures adding +1.65% and +2.16% respectively. The major indices even posted a new all-time high in the process. With the strong close last week, the US markets have effectively regained the losses seen over the course of April this year. Last week, Keith Gill, better known as Roaring Kitty on X (formerly known as twitter) revived his account with a tweet after a 2-year hiatus. His followers took this as a signal that meme stocks were back in flavour and that saw GME and AMC climb by more than 100% over 2 short trading days. On the economic data front, US PMI data showed that the Fed's restrictive policies were working and that raised market optimism that the US Fed is going to cut rates sooner than later this year.

Asian markets saw gains across the board as well in line with the US markets. The HSI had the best performance with a +3.11% gain last week after the Chinese government announced a different ways that it would commit to supporting its property industry. Japan's NIKKEI225 closed +1.46% higher, paring some of its earlier losses. The STI kept a steady growth adding +0.69% as a positive signal of the leadership handover to the 4th Prime Minister of the nation.

Daily Chart - [BULLISH ↗️ **] Google is in a strong uptrend and has shaped a bullish breakout of long term ascending trendline resistance. A bullish push higher towards 186.50 resistance is expected. Technical indicators are bullish as well.

Daily Chart - [BULLISH ↗️ **] Meituan is pushing higher and is holding above ascending trendline support and also 21 day EMA. As long as price is holding above support at 114.50, a further push up towards 140.00 resistance is expected. Technical indicators are bullish as well.

Daily Chart - [BULLISH ↗️ **] Mizuho Financial Group shaped a bullish breakout of a triangle, showing a strong continuation of the trend. As long as price is holding above 3110 support, a bullish push towards 3380 resistance is expected. Technical indicators are advocating for a bullish scenario as well.

Daily Chart - [BULLISH ↗️ *] Petrochina has been on an uptrend since January 2024. Price is currently consolidating and holding above 7.40 support. As long as price holds above this support level, a further push higher towards 8.35 resistance is expected. Technical indicators are bullish as well.

Weekly Chart - [BULLISH ↗️ *] CCB has made a strong bullish breakout of a multi-year trading range. As long as price holds above 5.63 support, a further push up towards 6.30 resistance is expected. Technical indicators are bullish as well.