The Dow Jones ended the volatile session yesterday dropping 469.64 points along with the S&P 500. Aside from the rate fears, other global markets also nosedived to end the trading week. However, the Nasdaq rose 72.96 points.

One factor that caused majority of the US indices to drop was the personal consumption expenditures price index that indicated subdued inflation in January.

Also, treasury bonds also slumped yesterday with the 10-year Treasury yield dropping 1.42% after bouncing above 1.6% on Thursday.

Stocks To Watch For March

PSAR in the short term indicates a downtrend so the pullbacks may continue this coming March


Since the Dow Jones will possibly around the 200-period moving average of the Daily timeframe (approx. 28,000 to 30,000) we’ve filtered stocks into these sections with our lazy technical analysis.

We’re also open to a worst case scenario drop where it can go as low as 22,000 to 26,000 if negative sentiment continues.

We’ll be using the finviz screener and filter stocks that are above the 200-period moving average for the daily and hourly timeframes.


Stocks above SMA 200


Stocks Above SMA 50


CNBC reports that investors might be looking into “re-opening” stocks so we might be looking into companies that might benefit this year based on the top 20 of this lists.

So here are some stocks to look at from either the hourly or daily timeframe perspective. We decided to pick stocks that will probably bounce on its 200-period moving averages since the theme for March could be pullbacks.

We won’t be scanning the entire list but we’re going to pick one name for each category that could potentially generate short to long term returns.


$OCGN (Hourly)

While other sources say that Ocugen, Inc. might be joining the late vaccine race, there’s another angle that we could look into.


$OCGN went for an impulse wave after months of consolidating last year, we might see a Wave 4 to Wave 5 move


The long term picture for Ocugen isn’t really focused on the vaccine, since they specialize in therapies and discoveries for curing blindness diseases.

In an official press release, this biopharmaceutical company was granted orphan medicinal product designation for OCU400 for the treatment of both retinitis pigmentosa (RP) and Leber Congenital amaurosis (LCA) by the European Commission.

As far as technicals are concerned, we see 9.50 to 10.00 as potential strong supports with the possibility of going up back to 15 in the short term to 61 at the best case scenario if the Wave 5 projection materializes.


$MRO (Daily)

While a lot of energy companies are focusing on renewables, we are seeing a long uptrend channel in the works for this stock.

With oil going back to its normal prices, we are seeing Marathon Oil focus more on keeping positive cashflows for the next months to come. As long as oil prices cooperate for this year, we see this company to become one of the outliers.


$MRO might pullback to as low as 38.2% to 50% Fibonacci levels at the worst case scenario; 61.8% to 78.6% could optimal levels to watch out for since it’s in confluence with the SMA 200


Although our lazy retracements aren’t designed to project triangle or zigzag movements, our levels are suggesting that 141.4% could be the immediate resistance that participants are looking at.

March could be a crucial month to watch for investors and traders because last year was also a start of a violent downtrend. We’ll see if this year will be different for the Dow Jones or will history repeat itself.

We have no positions in the following stocks mentioned. This is for educational purposes only.