Two Dips I'm Watching After The Crash

The market took a beating over the last two weeks or so. Everything except for a few defensive sectors was hit hard. After all the selling, I am looking around and asking: where are some dip buys? I've come up with a list of a few names, but for this chart specifically, I have zoned in on two different companies of industry and size: TSLA and FIVN.

I'll start with Tesla (TSLA):

They are down just over 47% from their recent highs. This all transpired over the course of a few months, but it really accelerated over the last few days. I find this drop to be rather remarkable considering Tesla's latest products and upcoming releases. Nevertheless, this comes with challenges, including sales in a country like China and other fundamental factors. Tracking their cash flows and progress toward operational efficiencies is crucial.

Tesla is down 45% in this correction—nearly half of its value gone.

I have never owned TSLA long-term. I have surely traded and covered it, especially when it first broke out during its epic short squeeze.

Maybe, just maybe, I might have a chance to get in at decent levels.

Now, let's talk about Five9 (FIVN).

Five9 builds and deploys customer management platforms so companies of all sizes can manage their massive user bases. They can use tools across all industries and verticals, and most importantly, it can sync with CRM platforms and AI models to feed it contextual data to make faster decisions.

Just recently, Five9 reported a fairly massive earnings beat, which lead to a spike. Sadly for them, the market crash started and the entire sector tanked. It's now dropped nearly 40% from its highs. At these levels, Five9 could be an interesting rebound candidate either for a swing trade to retrace part of the move.

Quick note: this entire industry has my attention from companies like NICE and others as they are essential to an organization—almost like a staple similar to VZ or T—simply because they power core components of the communication process. You can't just turn off messaging for you and your clients. New-age communications currently fill up my watchlist. I'll make a list soon.

Now, let's see if and when this sell-off ever ends. For now, I am making a list of possible dip buys.