Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Applied Materials (AMAT) Nears Strong Short Level
Shares of Applied Materials, Inc. (NASDAQ:AMAT) have surged in recent days from a low pivot of $45.00 back to nearly $57.00. This surge has yielded a possible short trade at $57.00 based on a resistance trend line. Note the chart below.
Gareth Soloway
InTheMoneyStocks
Walmart (WMT) Nears Major Swing Buy At Gap Fill
Shares of Walmart Inc (WMT) are declining for the second straight day after reporting poor earnings Tuesday morning. The stock is now down north of 13% and likely to fall to a major gap fill at $89.75. Once there, Walmart becomes a strong swing trade buy. Look for the long trade and a bounce to $95.00.
Gareth Soloway
InTheMoneyStocks
Don't Rush Into Walmart Inc Yet, Here Is The Trade
Today, leading retail stock Walmart Inc (NYSE:WMT) declined sharply after reporting earnings. The stock traded lower by $10.67 to $94.11. Many traders were asking me if they should buy WMT stock on this dip and the answer is no! This stock will need a few weeks to settle out after a major fall like it had in today's session. The stock still has a major gap fill around the $90.00 area that will likely need to be filled and possibly more downside to come. Traders and investors should watch the $81.00 area for major chart support. This is a level where the stock broke out in October 2017. Often, prior breakout levels will serve as major chart support when retested. I will be waiting on this important level before buying WMT stock.
Nicholas Santiago
InTheMoneyStocks
Semiconductors Will Rise Until They Hit This Technical Target
The semiconductor index ETF $SMH is leading the technology sector higher today. The semi's have now retraced 75% of the down-move and investors are excitedly talking about new all-time highs. In the near-term, I do not expect that to happen. I have a calculated upside max move of $105.80. With the current price at $104.94, there is less than a Dollar of upside left. This max move is calculated based on a technical extension move, time count, a former pivot high from late November 2017 and a gap fill. What technical traders have noticed is that when multiple major technical signals merge together in one price point area, the chance of a retrace top increases dramatically. This is what the semiconductor ETF $SMH is showing us. Stocks like NVIDIA (NVDA), Micron (MU) and others will stall out and start to decline once this target level is achieved. I will look to short or buy puts.
Gareth Soloway
InTheMoneyStocks
Phillips 66 Is Showing Weak Relative Strength, Watch This Trade Level
Phillips 66 (NYSE:PSX) is a leading manufacturer of chemicals and oil refining products. The stock peaked out on January 24, 2018 at $107.42 a share. Since that high pivot, the stock has sold off sharply and is now trading around the $92.68 level today. Last week, PSX stock tested the 200-day moving average at $89.14. So far, that level has held up as support. Should PSX stock trade and close below this key moving average it would signal another decline is likely for the stock. The next key support area for PSX stock will be around the $82.00 level. This area is where the 200-week moving average is at. Generally, the first move down into a key moving average will serve as support when tested.
Nicholas Santiago
InTheMoneyStocks
Here Is The Master Short Level On Alphabet Inc $GOOGL
Shares of Alphabet Inc (NASDAQ:GOOGL) are surging today as the market reversed early losses and spiked dramatically higher. Today is the first day since the massive collapse last week where investors are ignoring negatives and buying-the-dip. To give an example of this, look at yields on the 10 year bond. They are hitting 2.90% on the back of higher inflation data. This would have been a major negative last week but today, after a gap lower, investors are ignoring it and buying the market. This shows us a resurgence of the buy anything and everything mentality, a good sign for those wanting the markets to move higher so they can get off a good short. Alphabet Inc reported poor earnings results recently. This means that it will be a prime candidate for a short when the right price target is hit. that right price target is $1,182.00. This is a major gap fill and close to a major double top. If the price of Alphabet Inc can hit this level, it becomes a strong, high priority short trade. I will be laying in wait to take it myself.
Gareth Soloway
InTheMoneyStocks
Terex Corp $TEX Dips After Earnings, Watch This Trade Level
Terex Corp (NYSE:TEX) manufactures capital equipment for the construction, infrastructure, mining and transportation industries. Last night, the company reported earnings and the stock is falling lower today. Currently, TEX stock is trading down by $1.75 to $41.18 a share. Traders should note that the stock is also trading below its 200-day moving average. This puts the stock in a weak technical position on the charts and signals further downside near term. The next major support level for TEX stock will be around the $38.00 level. This is where the stock broke out in early September 2017. Often, institutional traders will step in and defend the equity around this level when it is retested. I will be waiting for TEX stock to test this area before trading the stock on the long side.
Nicholas Santiago
InTheMoneyStocks
Bet On This Casino Stock At This Level
Many of the leading casino stocks have come under selling pressure recently. One leading stock in the industry group that has caught my eye is MGM Resorts International (NYSE:MGM). This leading casino stock made a short term top on January 29, 2018 at $38.41 a share. Since that time, MGM stock has pulled back by more than $5.00 a share. Today, MGM stock is trading at $32.92 a share. Traders should watch the $30.40 level as the next major support area for the stock. This would a very solid level for a long side trade should MGM decline into this area. The company is scheduled to report earnings on February 20, 2018 before the opening bell.
Nicholas Santiago
InTheMoneyStocks
PG&E Corp $PCG Signals Strong Buy And Major Upside To $55
Beaten down utility PG&E Corporation (NYSE:PCG) has just signaled a major buy. Friday, the stock hit a 7 year low and reversed, forming a bullish bottoming tail on the daily chart. This is a strong buy signal on a utility that is fast recovering from the California wildfires. The stock has fallen in the last 8 months from over $70 and is ripe for investors looking for a recovery story that has major upside. I think it is very possible to see $55 on this in 2018.
Gareth Soloway
InTheMoneyStocks
The S&P Soars, Here Is Where Smart Traders Start Shorting Again...
The S&P 500 staged a dramatic rally on Friday after tagging the daily 200 moving average. After an over 10% collapse in a week, smart investors jumped into beaten down quality stocks at the technical chart support. For those of you that followed me this past Friday, you know we covered a dozen short positions at the lows and grabbed multiple longs. So where is the S&P 500 headed? The answer is found in the charts. The key to finding the next big short on the S&P is found by seeing where the most technical resistance signals coincide. The level is 2,760. This is the daily 20 moving average, close to a Fibonacci 61.8% retrace of the collapse as well as a full retrace of the 2-over 1,000 point drop days in the Dow Jones Industrial Average. In addition, watch the sentiment of traders and average investors. I expect that when we hit this level, many TV talking heads will start giving the bullish, all-clear signal. Many smaller investors will start expecting new highs and the buy-the-dip mentality will surge. All these signals will alert investors like myself to short the market for the next wave of panic/selling.
Gareth Soloway
InTheMoneyStocks
Yum Brands Inc Is Not Looking Tasty Yet, Know This Trade Level
One of the leading restaurant stocks in the market is Yum Brands Inc (NYSE:YUM). Yum Brands operates the KFC, Pizza Hut and Taco Bell restaurants. Today, YUM stock is declining lower by $1.65 to $77.66 a share. Traders should note that the stock was defended at its 200-day moving average last week. Should YUM stock trade and close below this important 200-day moving average at $76.72 it would likely signal another leg lower in the stock.
The next major support level for YUM stock would be around the $72.80 level. This level was major support in late September 2017 and will likely serve as support again if retested. This price area would be where I would look to step into the stock on the long side. YUM stock is now on my radar.
Nicholas Santiago
InTheMoneyStocks
Crude Oil Hits Major Pivot Support, See Which Energy Stocks To Buy
Crude oil traded near $67 just a week or so ago. In quick fashion, the commodity collapsed hitting a low of $58 this past Friday. This level was a major pivot and downside target as discussed in my previous article last week. With this pivot/target being hit, investors can start accumulating oil stocks/energy stocks for a snap back bounce. The best of breed stocks should be the first bought. Chevron (CVX) and Exxon (XOM) are my two favorites. Both have fantastic dividends and are discounted sharply from their 52 week highs, not only from the oil drop but also the market collapse. I expect oil to snap back to $63 as a target with Exxon heading to $80 and Chevron popping back to a target of $120.00.
Gareth Soloway
InTheMoneyStocks
As iRobot Corp (IRBT) Collapses, Here Is The Ultimate Target (Yuck!)
Shares of iRobot Corporation (NASDAQ:IRBT) are falling after the company did not perform up to Wall Street's expectations. This fall is more like a major collapse with the stock down 30% on the day. On a technical basis, iRobot Corp broke the pivot lows from October and December 2017. This is extremely bearish for the stock as it means the next leg lower has started. Based on the technical weakness in the market and the pivot low break, I am looking for an ultimate major target of $44.00. With the stock currently near $60, it means there is likely quite of bit of downside to go, even another 30%+. However, if we are entering a bear market, that is not even a hard thing to achieve on most high flying tech stocks. I will be looking to accumulate at $44.00.
Gareth Soloway
InTheMoneyStocks
This Trade Level Is Where Delta Air Lines Can Take Off
As you all know, most of the leading airline stocks have been coming under pressure recently. The leading airline stock in the industry group is Delta Air Lines Inc (NYSE:DAL). This stock topped out on January 16, 2018 at $60.79 a share. Since that high in the stock the shares have rolled over sharply. Today, DAL stock is trading lower by $1.48 to $52.37 a share. Traders now understand that the major market indexes are in correction mode, so it is prudent to look lower for major trade levels. The $48.50 area is a level that really stands out to me. This area was where the stock bottomed in November 2017. Often, when stocks retrace back to a major support level they will usually be defended by the institutional money. I will be looking to buy DAL stock around the 48.50 area.
Nicholas Santiago
InTheMoneyStocks
Oil Correcting, Here Is The Target
Oil took a beating today, falling 3% after inventory data showed a surprise build. In all fairness, oil was extremely overbought and due for a correction. Let's not forget, the U.S. keeps pumping more and more oil as the price has gone up and the global output remains higher even with OPEC's attempt to curb supply. Ultimately, expect a correction in oil to the $59 level of support. Note the commodity chart below.
Gareth Soloway
InTheMoneyStocks
CBOE Dives After VIX Products Turmoil, Watch This Trade Level
The CBOE Global Markets Inc (NASDAQ:CBOE) has come under severe selling pressure this week. The catalyst for the decline in the CBOE stock has been caused by the products that are linked to the VIX volatility index. Today, the CBOE is trading lower by another $3.80 to 113.14 a share. The pattern on the chart indicates a weekly bearish engulfing bar in the making. This pattern should signal further downside in the near term before a true bottom is in place. Traders should note that the stock will have a major weekly retrace level around the $97.00 area. I will be looking to play this stock on the long side when the CBOE trades around this level.
Nicholas Santiago
InTheMoneyStocks
Crypto Ripple $XRP Has 100% Upside From This Technical Support Here...
Crypto-currency Ripple $XRP is an amazing technical support here at $0.65. This can be seen on the chart below. Based on the oversold nature of the crash in Ripple and other crypto's, there is huge upside and a likely 100% bounce coming to a target of $1.30 on Ripple.
Gareth Soloway
InTheMoneyStocks
Strong Buy On Veritone Inc (NASDAQ:VERI) As Major Technical Level Hits...
Artificial intelligence small cap Veritone Inc (NASDAQ:VERI) hit major support today at $14.00. The stock traded as high as $75.00 on artificial intelligence hype, and now represents an extremely good risk/reward buy into this technical chart support (seen in the chart below).
Expect a surge back to $21.00, a 50% gain from here. This is a momentum play that now actually shows good technical signals as well as fundamental growth and valuation.
Gareth Soloway
InTheMoneyStocks
This Leading Pharma Stock Breaks Its 200-Day Moving Average
Believe it or not, technical charts are the key to making money in this volatile trading environment. While many leading industry groups are now in correction territory it is critical for traders and investors to know where the major support levels are on the charts for individual stocks.
One stock that has declined sharply is Bristol-Myers Squibb Co (NYSE:BMY). This leading pharmaceutical stock plunged yesterday after reporting earnings. Today, BMY stock is trading lower by another $2.18 to $58.77 a share. It is important to note that the stock is now trading below its important 200-day moving average. This puts the stock in a weak technical position on the charts and often signals more downside to come. In this current trading climate it is critical for traders to find the major support levels that will be supported by the institutional money. The best and safest level that I see for BMY stock is around the $51.50 area. This is where BMY stock was defended in February 2017. Should BMY test this level again it will most likely be an excellent area for a long (buy) side trade.
Nicholas Santiago
InTheMoneyStocks
Buy: Exxon Mobil Corporation (NYSE:XOM) Tags Huge Support
Exxon Mobil Corporation (NYSE:XOM) just tagged huge technical support on the daily chart at $80.00. The stock is down from nearly $90.00 in two trading days. Expect a technical bounce back to $82.50 within a day or two.
Gareth Soloway
InTheMoneyStocks
This Is Where Smart Money Is Buying Johnson & Johnson
Shares of Johnson & Johnson (NYSE:JNJ) continue to take it on the chin. The stock is now down from its peak of $148 just two weeks ago to $133.00. There will likely be more downside as big players move to cash in the higher risk market. However, there is huge technical chart support at $126. This is the spot where big money will step up and add heavily for a sharp bounce back higher. Look for this technical chart level to buy.
Gareth Soloway
InTheMoneyStocks
Transport Stocks Sink, Watch This Trade Level
Transportation stocks are followed closely by most traders and investors. This industry group is known as a leading indicator for the markets. In fact, the transports made a short term top on January 16, 2018 which was ten days earlier than the S&P 500 Index top. This just shows how the transports will often lead the major market indexes.
Since the January 16, 2018 transport top, many of the leading transportation stocks have sold off sharply. United Parcel Service Inc (NYSE:UPS) is a market leading transport stock that has declined by over $19.00 since that transport peak. Today, UPS stock is trading lower by 0.32 to $116.14 a share. This stock is still trading above its 200-day moving average at $115.11 so there will be some daily chart support around this area. Should the 200-day moving average fail to hold as support then there should be one more major leg lower for UPS stock price. The next major chart level for UPS will be around the $110.00 level. This area is where the institutional money should defend UPS stock price. Traders should note that this is where the stock was sponsored in late July 2017 and it will likely be a buy area again when retested. This is where I will look to trade UPS stock on the long side.
Nicholas Santiago
InTheMoneyStocks
Buy Level On Apple Inc.
Apple Inc. (NASDAQ:AAPL) continues to fall after reporting earnings. The stock fell into the earnings release on worries over the super-cycle and earnings did not help the picture. As a swing trader, I am scoping out the $157.50 level for a bounce. This is a technical support and a gap fill. Look for a solid bounce back to $165.00.
Gareth Soloway
InTheMoneyStocks
Major Buy Level: Bitcoin Investment Trust (GBTC)
There is strong technical support for a buy on the Bitcoin Investment Trust (OTCMKTS:GBTC) when it tags $11.25. This has about four factors to support it there, including a gap fill, former pivot and daily 200 moving average (just below). For aggressive traders who can handle wild swings, start accumulating at $11.25. Leave room to add more if it dips lower.
Gareth Soloway
InTheMoneyStocks
Valeant Pharmaceuticals (VRX) Signals Buy After Retracing To Major Support
Shares of Valeant Pharmaceuticals Intl Inc (NYSE:VRX) traded near $25.00 just a few weeks ago. The run to $25.00 started from $11.00 and was non-stop for two-plus months. Investors should have been expecting a pull back and they got it. The question now is, where is it a buy. The answer is $17.75. Not only is it the former pivot high from July 2017 but it is also a 50% Fibonacci retracement point. With both factors coinciding, it alerts investors to major support and likely the start of the next leg up.
Gareth Soloway
InTheMoneyStocks
Riot Blockchain (RIOT) Headed Lower As Bitcoin Collapses, Here Is The Buy
Shares of Riot Blockchain Inc (NASDAQ:RIOT) collapsed another 10% today, hitting a low of $12.10. This stock traded above $45 on hype, as Bitcoin traded near $20,000. That is long gone and Bitcoin is collapsing lower. Bitcoin has a strong technical support at $7,500, that is likely where it will get a big bounce. During the expected fall, Riot Blockchain Inc will drop to $9.85. This is a huge buy on Riot Blockchain because it is a former pivot and the daily 200 moving average. In addition, Riot Blockchain is already oversold and by that point will be extremely oversold. I will be looking to buy at that level for a swing trade strong bounce.
Gareth Soloway
InTheMoneyStocks
Corning Inc (GLW) Drops After Earnings, Know This Trade Level
Corning Incorporated (NYSE:GLW) manufactures and sells specialty glasses, ceramics, and related materials throughout the world. The company is best known as the maker of gorilla glass that is used in many mobile devices. Yesterday, the stock plunged lower by 7.5 percent after reporting earnings. Today, the stock is trying to bounce back a bit, but this is common after a sharp flush. Traders and investors should note that the stock is now trading below its important 50-day moving average. This puts the equity in a weak technical position. The stock should have major chart support around the $29.00 level. This is where the equity broke out in September 2017. Often, prior breakout levels will serve as major chart support when retested.
Gareth Soloway
InTheMoneyStocks
Bullish Chart Setup On Sprint Corp
Shares of Sprint Corp (NYSE:S) have a strong bullish chart setup. One week ago, the wireless play put in a bottoming tail. Bottoming tails are bullish bottom signals, a likely reversal at hand. Since that bottoming tail a week ago, Sprint has consolidated in a bull flag pattern. This tells investors that odds favor a strong move up coming in the next few days. This $5.25 level is a great buy opportunity with a tight stop. Any daily close below the bottoming tail low at $5.10 would be the stop. That means the risk on this trade is only around $0.15 versus the upside target of over $6.00. Low risk, high reward, bullish stock chart setup on Sprint Corp.
Gareth Soloway
InTheMoneyStocks
Here Is The Short Level: Advanced Micro Devices
Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) jumped higher on earnings Wednesday. This was no surprise as the stock chart dictated a move higher to the master level, gap fill of $14.25. However, once this level is achieved, Advanced Micro Devices becomes a strong short swing trade for a drop back to $12.00, perhaps far lower. Remember, gaps are made to be filled, this obvious one was a no-brainer. With Advanced Micro Devices trading at $13.50, there is still more upside, but limited to the gap fill at $14.25. For those looking to short, be patient for the trade level.
Gareth Soloway
InTheMoneyStocks
Tupperware Brands Gets Slammed, Here Is The Trade
Tupperware Brands Corp (NYSE:TUP) is a leading manufacturer and marketer of food storage containers and serving items. Today, the stock is declining lower by nearly 10.0 percent after reporting earnings. TUP stock is now testing its November lows at $57.41 a share, but further downside is likely. By looking at a weekly chart today's decline is eliminating eleven weeks up upside. This tells me that the stock will need to have more selling before a true low is found. Traders and investors should now watch the $55.00 area as the next major chart support level. This area is where the stock was defended by the institutional money in January 2017 and it will likely be sponsored again when retested.
Nicholas Santiago
InTheMoneyStocks
Buy It Here: McDonald's Corporation (NYSE:MCD) Slammed On Earnings
Shares of McDonald's Corporation (NYSE:MCD) took a beating after reporting solid earnings. The problem? Simply put, this burger and fries fast food player is trading at a P/E (price/earnings) ratio over 30. That is insane. Many high growth tech stocks do not trade at that P/E ratio. The earnings today were solid, but investors are smartly taking profits until the valuation numbers come more in-line to 'normal'. The buy level on the stock chart is $160.00 and could be hit within days.
Gareth Soloway
InTheMoneyStocks
Chart Alert: Micron Tech (NASDAQ:MU) In Major Trouble
Shares of Micron Technology, Inc. (NASDAQ:MU) broke below major stock chart support today. This signals the next major leg lower in the stock price, ultimately headed to $34.00. While the media and analysts have been high on Micron Technology, the chart has spoken differently. While many chip stocks made new all-time highs in the last week, Micron Technology topped out back in early November, 2017 at $50. Since then, it has fallen nearly 20% into today. The breakdown can be seen on the stock chart below. Note the target is a key gap fill, also near the daily 200 moving average.
Gareth Soloway
InTheMoneyStocks
The Bezos, Buffett & Dimon Announcement Crushes Health Care Stocks
This morning, almost every leading health care stock is coming under major selling pressure. The weakness in the health care stocks comes after an announcement was made by Amazon.com (NASDAQ:AMZN) boss Jeff Bezos, Berkshire Hathaway (NYSE:BRK.a) boss Warren Buffett and JPMorgan Chase (NYSE:JPM) Chairman Jamie Dimon announced Tuesday morning that they are "partnering on ways to address healthcare for their U.S. employees, with the aim of improving employee satisfaction and reducing costs." Leading health care stocks such as UnitedHealth (NYSE:UNH), Aetna (NYSE:AET), Cigna Corp (NYSE:CI), Humana Inc (NYSE:HUM), Express Scripts Holdings Co (NASDAQ:ESRX), CVS Health (NYSECVS), and others are tumbling on the announcement.
As a trader we must look at this decline in the health care stocks as a trading opportunity. Cignal Corp (CI) is an equity that is now on my radar. The daily chart is showing very good support around the $205.00 level. This is where the stock formed a solid chart base in late December before breaking out to new highs. Often, a retest of this area will lead to a solid bounce for the stock. I will be finding more levels for other health care stocks in the coming days, but Cigna Corp (CI) is one stock that has caught my eye right now.
Nicholas Santiago
InTheMoneyStocks
Price Target On The NASDAQ BioTech ETF Revealed
As certain market sectors stall out, the biotechnology sector burst through its 2017 highs. This breakout will trigger a continued squeeze even higher on the iShares NASDAQ BioTech ETF $IBB. At a current price of $118.81, investors should expect further upside to a $133.00 target in the next month. Once there, investors should expect a sharp pull back and potential high for 2018. As a swing trader, I am patiently waiting to short that pivot high at $133.00 for a pull back to $114.50.
Gareth Soloway
InTheMoneyStocks
Toll Brothers Inc (NYSE:TOL) Nears Major Support For A Bounce
Shares of Toll Brothers Inc (NYSE:TOL) have collapsed lower in the last two weeks, falling from a 52 week, multi-year high of $52.73 to a low today of $47.71. This decline should make investors worry about the future condition of the housing market. However, just like with any stock, Toll Brothers Inc will bounce hard at a key support level I am scoping out a swing trade buy at the technical, major support of $46.60. Based on PPT Methodology time counts, it needs to hit that level by Wednesday, January 31st, 2018 to be valid. If it does, look for a significant bounce back to $50.00 within days.
Gareth Soloway
InTheMoneyStocks
AT&T (NYSE:T) Retreats, Know This Trade Level
AT&T Inc (NYSE:T) is a global telecommunication giant. The stock has been coming under some selling pressure since late December 2017. At that time, T stock traded as high as $39.32 a share. Today, T stock is trading lower by 0.50 cents to $37.33 a share. It should be noted that T stock is trading slightly below its 20 and 200-day moving averages. This puts the stock is a weak technical position near term. Traders should now watch the $34.50 area for major chart support. This level has been defended numerous times in past years and will likely serve as solid support when retested. Please remember, the company will report earnings on January 31, 2018 after the closing bell.
Nicholas Santiago
InTheMoneyStocks
Apple Hits Near-Term Support As Key Level Is Tested
The flush on Apple Inc (NASDAQ:AAPL) continues. The stock is dropping almost 2% again as investors run from the name over demand worries. With earnings a week away, investors appear to not want to risk holding. After a full $10 collapse from all-time highs a week ago, Apple is into near-term support. This level at $170.00 is a huge point for Apple. It will likely hold this level into earnings but then could break lower. Aggressive traders can buy it at $170.00 for a few Dollar bounce, but should be careful holding into earnings.
Gareth Soloway
InTheMoneyStocks
Universal Display Corp $OLED Buy Trigger Approaching Fast
Shares of Universal Display Corporation (NASDAQ:OLED) are approaching a major bounce level at $166.00. The stock has fallen for multiple days in a row and is now entering oversold territory. Look for a bounce off $166 to $180.
Gareth Soloway
InTheMoneyStocks
Union Pacific Corp (UNP) Plummets: Here Is The Buy Level
Shares of Union Pacific Corporation (NYSE:UNP) were slammed on earnings today. The transportation company under-performing expectations, which were sky high. As the stock falls, there is a significant buying level at $123.50. This will be a key technical retrace level of support and should give the stock a significant bounce. Granted, the stock is still far away from this level, but that means it has much more downside until it is worth buying. Be patient and be ready to pounce when the chart says 'buy'.
Gareth Soloway
InTheMoneyStocks