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This Big Pharma Stock Is Nearing A Buy Level
Traders and investors should note that Pfizer Inc (NYSE:PFE) stock has been steadily declining since late February 2017. At that time, PFE stock was trading above $34.00 a share, today PFE stock is trading around $32.00 a share. The pharmaceutical giant is now trading below the important 200 and 50-day moving averages. This puts the stock in a weak technical position on the daily chart.
Pfizer Inc (NYSE:PFE) stock will have major chart support around the $30.00 level. This is an area where the stock was defended in April and November 2016. Often, past break-out levels will serve as major chart support when retested. The $30.00 level should be an area where PFE stock can be bought. Traders should look for a move back up to the $34.00 area. Traders that buy this stock should place a stop loss below the $27.50 level using a weekly chart close.
Nicholas Santiago
InTheMoneyStocks
Shares of Goldman Sachs Group Inc (NYSE:GS) is approaching a technical support level I intend to buy. The level is the daily 200 moving average as well as a former pivot. The stock is down from a 52 week high of $255.15 to its current level below $214.00. One more push down will tag that multi-support level and yield a likely bounce. The buy trade level is $210.00.
Gareth Soloway
InTheMoneyStocks
Trading Opportunity: Goldman Sachs Group Inc
Shares of Goldman Sachs Group Inc (NYSE:GS) is approaching a technical support level I intend to buy. The level is the daily 200 moving average as well as a former pivot. The stock is down from a 52 week high of $255.15 to its current level below $214.00. One more push down will tag that multi-support level and yield a likely bounce. The buy trade level is $210.00.
Gareth Soloway
InTheMoneyStocks
While Markets Tank This Consumer Goods Stock Looks Attractive
Today, all of the major stock indexes are falling sharply lower on the back of an uncertain political picture. As you all know, the Trump presidency has been surrounded by turmoil since day one, but today the markets are talking as the S&P 500 Index declines by more than 1.00 percent. Either way, when there is market uncertainty this makes the personal product stocks such as Procter & Gamble Company (NYSE:PG) look attractive.
Procter & Gamble Company (NYSE:PG) stock topped out in March around $92.00 a share. Since that time, the stock has been pulling back and is now trading at $86.24 a share. Traders and investors should note that the $84.35 level looks very attractive on the charts. This is an area where the stock broke out in January 2016. Often, past breakout levels will be defended by the institutional money when retested. The stock should have upside potential to the $90.00 level. Traders can simply put a stop loss below the $82.40 level on a weekly chart basis.
Nicholas Santiago
InTheMoneyStocks
$DKS Earnings Drop Gives Swing Traders An Opportunity. See It Here...
Shares of Dicks Sporting Goods Inc (NYSE:DKS) fell sharply on Tuesday after reporting poor earnings and guidance. The stock is trading down over 13%. As it collapses and long investors who held into earnings are in pain, swing traders are beginning to scope out major buy levels. After extensive analysis, I am seeing a buy support level on the stock chart at $38.00. This is the first level I would consider buying for a swing trade long trade. Off this level, assuming the stock falls directly into $38, investors should see a solid bounce back above $40. Perhaps even a 10% bounce over multiple days to a week or two.
Gareth Soloway
InTheMoneyStocks
Not All Retail Stocks Are Created Equal
Last week, leading high end fashion retailer Nordstrom Inc (NYSE:JWN) was the latest department store stock to drop sharply after reporting earnings. On May 10th Nordstrom Inc stock was trading around $50.00 a share, today the stock is trading at $40.74 a share. Traders and investors can easily see the weakness in JWN and many of the other department store stocks like Macy's Inc (NYSE:M), J C Penney Co (NYSE:JCP), and Kohl's Corp (NYSE:KSS). Simply put, the leading retail stocks have been very weak on the charts.
Nordstron Inc is approaching a solid support level around the $37.75 level. This level happens to be the 200-month moving average. Believe it or not, moving averages are very important on all time frames. Traders and investors should look this $37.75 level to be defended by the institutional crowd. This important area on JWN stock was also defended in June 2016 and should be support again when retested.
Why The Sharp Sell In J C Penney (JCP) May Have Nothing To Do With Earnings...
J C Penney Company Inc (NYSE:JCP) is flushing again today, following Friday's poor earnings report. The stock is down over 26% in the last week as all retailers are collapsing. Today, the stock hit a low of the day at $4.17 and I am here to say it may be a strong buy. In fact, I am here to say that it is possible that today's flush from $4.53 to $4.17 has nothing to do with poor earnings and is a result of certain funds not being able to hold stocks that are below $5.00.
Please be aware, this is not all funds, definitely not hedge funds and such. However, it is enough to create added selling pressure today. What does it mean? It may mean that this selling today is just a result of these funds selling and once it has concluded, it will snap back quickly. Earnings, while not great, were alright. In my opinion, not worth a 26% selloff. I think J C Penney Company Inc is extremely interesting down in this sub $4.35 range if my thesis is correct. Just something to ponder.
Nicholas Santiago
InTheMoneyStocks
General Electric Co (NYSE:GE) Signaling Weakness
This morning, leading diversified industrial company General Electric Co (NYSE:GE) is failing to rally with the major stock indexes. The stock has been declining since April 20, 2017 when it traded as high as $30.54 a share. Today, GE stock is trading around the $28.00 level.
So where is the next major chart support level for GE stock? If traders go back and look at a weekly or monthly chart they will notice a major breakout for GE stock occurred in October 2015. This tells me that the stock will be defended around the $26.00 level when it trades down to that area. So here is the trade, buy GE stock when it trades down to $26.00. Use a weekly chart stop loss with a close below the $24.75 level. The first upside target will be at $27.30, the second target around $30.00.
Chart:http://www.inthemoneystocks.com/images/GE%205.15.17.png
Nicholas Santiago
InTheMoneyStocks
Bullish Pattern Trade Setup On Goldman Sachs Group Inc (GS)
As poor as earnings were on Goldman Sachs Group Inc (NYSE:GS) and as negative as the press has been of late, the stock chart setup is actually very bullish. In fact, the stock chart is signaling a near-term move to the upside. Logic dictates this may be as a result of something outside of Goldman Sachs. For example, I would bet it has something to do with interest rates spiking higher in the coming weeks. That has been one of the catalysts for financial stocks in the last year. Another catalyst could be talk about getting rid of key things within Dodd-Frank. Either way, the stock chart is very bullish, therefore I am bullish. An upside move could take the stock back to the $250 level.
Gareth Soloway
InTheMoneyStocks
Fluor Corp (NYSE:FLR) Nearing Major Chart Support
Leading construction and engineering company Fluor Corporation (NYSE:FLR) was another stock that tumbled after reporting earnings recently. On May 5th, the construction company missed earnings forecasts and guided FY17 EPS below consensus. This does not seem like a stock traders and investors would want to own right now, but the charts are painting a different picture.
Fluor Corporation (NYSE:FLR) stock is now trading into a very interesting support area. Aggressive traders and investors could actually nibble on the stock at it's current price level which is around $47.50 a share. Traders can use the current bottoming tail from May 5th, 2017 as the stop loss. Any daily close below the tail low at $46.50 would trigger a stop loss in the trade. More conservative traders can look at the $44.00 area as the next level to go long (buy) the stock. This area would be a significant retrace level where the institutional money would likely step in and support the equity. Either way, FLR stock is now looking attractive for a long side trade according to the charts.
Nicholas Santiago
InTheMoneyStocks
Know This Trade Level For This Leading Bio-Tech Stock
One of the leading biotechnology stocks that has been under pressure recently is Biogen Inc (NASDAQ:BIIB). This stock has been selling off since the company reported earnings on April 25th, 2017. On that day, BIIB stock traded as high as $291.90 a share. Since that time, the bio-tech giant has dropped lower by nearly $34.00. Currently, BIIB stock is trading at $258.86 a share.
Traders and investors should note that the charts are signaling institutional support around the $250.00 area. This is a solid whole round number that the institutional traders and investors usually like to play. It is also a level where the stock was defended in the past. Traders should note that this trade level was chart support in late January 2017 and late October 2016. Very often, past support levels will be solid levels for bounces when retested.
Nicholas Santiago
InTheMoneyStocks
This Signals A Big Sell Alert On Alibaba $BABA...
Shares of Alibaba Group Holding Ltd (NYSE:BABA) are running into a major double top high pivot from November 2014. The price point of the double top is $120.00. Based on chart technical analysis, Alibaba Group Holding should pull back in the coming weeks after touching this point. The downside target is $108.00, meaning there is a $12 reward for investors willing to short the ecommerce company. Earnings are set to be reported on the morning of May18th. Note the chart below...
Gareth Soloway
InTheMoneyStocks
Warren Buffett Crushes IBM (NYSE:IBM), Where's The Trade?
Last week, Warren Buffett revealed to the public that he sold 30.0 percent of his stake in International Business Machines Corporation (NYSE:IBM). This news caused the stock to plunge by nearly $5.00 on May 5th, 2017. It should be noted that IBM stock traded above $180.00 a share in early March. Today, IBM stock is trading around $151.70 a share.
Is there a trade level for IBM stock? Yes, IBM stock has several attractive bounce levels approaching for short term trades. The first chart area that looks very interesting for support is around $149.84. This trade area was an institutional buy level for IBM stock back in October 2016. Traders and investors could buy IBM at this level and put a weekly chart stop loss below $147.00. The upside target on the trade would be for a move back to $157.00.
Nicholas Santiago
InTheMoneyStocks
Michael Kors Holdings $KORS Attempting Breakout Here...
Shares of Michael Kors Holdings Ltd (NYSE:KORS) are attempting to breakout today. The stock is currently trading at $38.47. Based on current charting, a close above $38.50 will likely send it to $41.30 within a week or two. The $41.30 level is a gap fill, known in technical analysis as resistance. This is a solid chart breakout play for investors who trade off the stock charts. Michael Kors Holdings is bullish here and likely to make money for those buying...
Gareth Soloway
InTheMoneyStocks
Akamai Continues To Tumble, Know This Trade Level
Last week, leading content delivery network (CDN) provider Akamai Technologies Inc (NASDAQ:AKAM) sold off after reporting earnings. The stock peaked out in February at around $71.00 a share. Today, AKAM stock is trading at $51.25 a share. So is this stock now a value play? Not so fast, AKAM stock should still have a bit more downside pressure before it flushes out all of the sellers.
Traders and investors should now watch the $48.00 area for a significant low in the stock. This is an area where the stock actually broke out in February 2016. This should be a level where the institutions will likely step in and support the stock. Here's the trade, buy AKAM at $48.00 with a weekly chart stop loss below $45.00. The upside in this stock is for a move back to $55.00 and possibly higher.
Nicholas Santiago
InTheMoneyStocks
Crude Oil Takes This Oil Services Stock Down, Watch This Trade Level
Today, crude oil is tumbling lower by more than 2.0 percent to $45.75 a barrel. The recent fall in oil prices has certainly hurt many of the leading energy stocks. The oil services sector has been hit particularly hard recently. This industry group can be followed by tracking the VanEck Vectors Oil Services ETF (NYSEARCA:OIH). This ETF is now nearing major support on the charts.
One leading oil services stock that has fallen sharply has been Schlumberger Limited (NYSE:SLB). This stock has been falling since the start of 2017 when it traded as high as $87.84 a share. Today, SLB stock is trading around $70.55 a share. This stock has a very attractive support level around the $70.00 area. This is an area where the stock broke out in January 2016. Often, past breakout points are very good support levels when retested.
Nicholas Santiago
InTheMoneyStocks
Trade Alert: United States Steel $X Large Bounce Expected Here...
I issued a buy trade alert to Research Center members at InTheMoneyStocks today when United States Steel Corp (NYSE:X) briefly went below $21. The buy level we grabbed it at was $20.96 based on a monster support gap fill (technical analysis). U.S. Steel Corp has dropped from the $42 range as well, meaning it is down 50% in the last four months.
Being extremely oversold in conjunction with major support gave me the signals I needed to issue this buy. I am expecting a sharp bounce in the coming days and weeks. The max upside is $28 for patient investors but I will most likely sell when it hits the recent gap window of $24.25. Technical trade setups like this are fantastic.
Gareth Soloway
InTheMoneyStocks
This Is Why Investors Should Be Bullish Into Gilead Sciences $GILD Earnings
Gilead Sciences, Inc. (NASDAQ:GILD) reports earnings after the stock market closes on Tuesday, May 2nd, 2017. I am bullish ahead of this report based on the stock chart. In the last week, Gilead Sciences broke above the daily 50 moving average and has since consolidated in a bullish flag pattern. In addition, the stock continues to trade just off 52 week lows, meaning expectations are low from investors. The company holds a ton of cash as well adding to their strength. I have an upside target on Gilead Sciences $73.50. This is a gap fill and close to the 200 moving average resistance. Analysts expect earnings of $2.37 per share on revenue of $6.68 billion.
Nicholas Santiago
InTheMoneyStocks
Archer Daniels Midland Co (NYSE:ADM) Plunges After Earnings, Is There A Trade?
This morning, leading agriculture company Archer Daniels Midland Co (NYSE:ADM) is plunging lower after reporting earnings. Today, the stock is falling by over 3.50 percent after reporting a Q1 sales miss. The next major support level for ADM stock will be much lower. Traders and investor will have to look at the $36.00 area for solid institutional chart support. Please understand, this stock is already severely oversold after today's decline so there could be minor bounces in the near term due to the current oversold condition.
Nicholas Santiago
InTheMoneyStocks
Big Blue (NYSE:IBM) Is Nearing Institutional Support
One of the leading information technology stocks in the world is International Business Machines Corporation (NYSE:IBM). This tech giant's stock price peaked out on February 16, 2017 at $182.79 a share. Since that time, the stock has sold off by more than $20.00 and is now trading at $160.29 a share. Many financial news reports continue to be very negative as IBM has continued to report declining revenue growth for 20 consecutive quarters.
As a technical trader we do not really care about the news. A technical trader and investor really just cares about the money flow and the institutional support and resistance levels. Currently, IBM stock is now nearing solid chart support around the $158.00 level. This is an area where the stock broke out to the upside in November 2016. So here is the trade, I will look to buy IBM stock around the $158.00. level. The target on the trade will be around the $170.00 area. Traders should use a weekly chart stop-loss below $154.00.
Nicholas Santiago
InTheMoneyStocks
Airline Stocks In For A Hard Landing
This morning, most of the leading airline stocks are declining sharply lower. The catalyst for the fall in the airline sector is due to a poor reaction to earnings from American Airlines (NYSE:AAL) and Southwest Airlines (NYSE:LUV). The airline sector is even falling despite lower oil prices so this is a good indication that the sector is headed lower in the near term.
Delta Air lines (NYSE:DAL) is a stock that should be on everyone's radar. This company reported earnings last week and is now close to retesting its 200-day moving average. All indications on the chart are signaling a further decline in the stock over the near term. Trader and investors should keep an eye on the $39.25 level for a potential downside target. This is also an area where the institutional money will likely support the stock. I would be a buyer of DAL stock at the $39.25 level with a stop-loss below $36.00 on a weekly chart close. This should present a solid risk/reward trade setup with the upside target being around $47.00.
Nicholas Santiago
InTheMoneyStocks
How To Trade Yesterday's Home Depot (HD) Topping Tail
New all-time highs seem almost normal in this market. Countless stocks hit new-all time highs almost every day. This is exactly what has happened with Home Depot Inc (NYSE:HD). Yesterday, Home Depot surged to a all-time high of $154.65. The difference however, was that the stock reversed those gains and closed near the lows of the day. This formed a stock chart candle called a topping tail. topping tails that occur at 52 week or all-time highs are extremely bearish indicators. Technical investors and traders use this signal as a shorting trigger.
The way investors should trade this is simple. Short Home Depot Inc with a downside target of $139.25. However, if the stock every closes above the high of the topping tail of $154.65, stop out immediately. This gives investors tiny risk of less than $1.00 while rewarding investors with possible downside of $15.00. That is a fantastic risk to reward setup.
Gareth Soloway
InTheMoneyStocks
Beverage Stocks Drop, Know This Institutional Buy Level
Today, two of the leading soft drink companies Dr Pepper Snapple Group Inc.(NYSE:DPS) and PepsiCo Inc.(NYSE:PEP) are declining sharply lower after reporting earnings. Dr Pepper Snapple Group Inc.(NYSE:DPS) is the bigger loser on the session falling by nearly 5.0 percent on the session. PepsiCo stock is down just 0.81 percent at this time.
Traders and investors that are looking to buy Dr Pepper Snapple Group Inc.(NYSE:DPS) stock must now be patient. When a stock declines this sharply from its recent high there is usually more downside over the next few weeks. One level that looks very attractive for Dr Pepper Snapple Group Inc.(NYSE:DPS) stock is the $87.00 area. This looks to be a level where the institutional money has defended the stock in the past and it will likely do it again should DPS stock fall to that support area.
Nicholas Santiago
InTheMoneyStocks
Newmont Mining Plunges After Earnings, Where Is The Trade?
This morning, leading gold mining stock Newmont Mining Corp (NYSE:NEM) is declining sharply after reporting earnings. Today, NEM stock is trading lower by $1.31 to $32.39 a share. Many traders and investors are now wondering where the next major support level will be for a long side trade. Well, the answer is lower. Traders should note that NEM stock does not have major chart support until the stock reaches the $29.00 area. This is an area where traders can buy NEM stock. Until that time, the bounces in NEM stock will likely be sold by the institutional money.
Nicholas Santiago
InTheMoneyStocks
$TWLO Retrace Gives Investors A Great Buy For Next Leg Up
Just over a week ago, Twilio Inc (NYSE:TWLO) was upgraded by institutional investors. This upgrade was the catalyst for a breakout on the stock chart, sending the stock from $27.00 to $34.00. The benefit of this move was that it took out a major trend line of resistance, clearing a hurdle that has kept the stock under pressure for a long time. Once cleared, the stock is free to continue up. However, first, it needs to consolidate, essentially digesting the recent big 25% move. That is where smart investors look for a buy.
So far, the stock has pulled back to a low of $30.21. The key is looking for a retrace into the former breakout trend line. This is known as the scene of the crime (breakout) on the stock. Once there, Twilio becomes a huge buy. Note the chart below...
The Euro (EUR/USD) Is Still Going Higher
Since the start of 2017 the Euro has been climbing higher against the U.S. Dollar. On January 3, 2017 the EUR/USD traded as low as 1.034. Today, the EUR/USD is trading around 1.0865. The EUR/USD has been making higher lows on the daily chart and that is usually a sign of higher prices to come in this currency pair.
How high is the EUR/USD going to trade? Well, the current chart pattern signals a potential move in the EUR/USD to around the 1.1040 level. This should complete the rally that started in January. This level in the EUR/USD should also lead to a very good shorting opportunity. Traders that want to try a short trade in the EUR/USD can use the ProShares UltraShort Euro (NYSEARCA:EUO). The downside target for the EUR/USD is for a move to the 1.02 level.
Nicholas Santiago
BUY ALERT: Major Support On Diana Shipping Inc. $DSX. We Bought Here...
I grabbed some Diana Shipping Inc. (NYSE:DSX) today. I accumulated shares at $4.25 for a swing trade bounce with a current target of $5.05. The reasoning for this buy is simple. The stock has fallen sharply from $6.20 down to $4.21. in the past week. At $4.25 it started hitting major support and the odds strongly favor a technical bounce back to the $5.05 level. See the stock chart below.
Note, I have no idea if I will hold it until the $5.05 target. That is a perfect world scenario. However, I am confident we will make a solid profit on it as we do and have done over the long term. Learn how to survive and profit in this market, or it will take all of your money!
Nicholas Santiago
InTheMoneyStocks
Johnson & Johnson (NYSE:JNJ) Drops After Earnings
A few days ago the leading healthcare stock Johnson & Johnson (NYSE:JNJ) dropped sharply lower after reporting earnings. The stock lost about 3.0 percent on April 18th, 2017. Many traders and investors are now wondering where this stock will finally find a low and rebound.
The daily chart 200-day moving average is sitting around the $119.00 level. This will be a decent chart support area for a bounce, but if the stock consolidates above the $119.00 level for another week or so traders will have to look lower. The next major support level for JNJ stock will be around the $116.83 level. This is an area where the stock broke out in February 2017. Often, stocks will retrace back down to the break-out level before moving higher. Either way, JNJ stock should be on traders radar.
Nicholas Santiago
InTheMoneyStocks
This Will Seal The Fate Of Apple $AAPL
Shares of Apple Inc (NASDAQ:AAPL) have been unable to bounce over the last few days, after pulling back from all-time highs. This chart formation is known as a bear flag. In addition, if you connect the recent lows of the last month (as seen in the chart below) you can clearly see a breakdown is taking place. This seals the fate of $AAPL in the near-term, a solid drop is coming. Investors should be short shares of Apple, looking for a downside long-term target of $121.50.
Gareth Soloway
InTheMoneyStocks
Is The U.S. Dollar Bull Market Over?
The U.S. Dollar Index (DXY) has been soaring higher since September 2014. At that time, the U.S. Dollar Index (DXY) traded around $85.00 per contract. Today, the U.S. Dollar Index is trading around $99.75 per contract. Many talking heads on the financial television channels are calling for a collapse in the U.S. Dollar, but that has not occurred. In fact, the U.S. Dollar Index has actually strengthened since bottoming in early 2008 when it traded as low as $70.69.
This year, the U.S. Dollar Index topped out on January 3, 2017 at $103.82. Since that top, the U.S. Dollar Index has actually been making lower highs on the daily chart. Lower highs are generally a bearish indication for lower prices, but at some point the U.S. Dollar Index will find a solid institution support level and be defended.
Over the past few weeks, President Trump has voiced his opinion that he likes a weaker U.S. Dollar because it will help boost U.S. exports. Since that statement by President Trump the U.S. Dollar Index has continued to declined further.
According to the current chart pattern it seems like the U.S. Dollar Index is simply going through a normal correction after such a big run in price and time. In the near term, the charts are signaling a decline in the U.S. Dollar Index to the $97.50 level. This area should be where the institutional traders will be waiting to support the U.S. Dollar Index (DXY). The larger time-frame pattern signals a U.S. Dollar Index move all the way up to the $105.00 level ultimately. What can be the catalyst for this move higher? Perhaps, problems in Europe, Japan and China. Who knows? This is why I follow the charts, the money flow and chart pattern tell us the trade.
So what is the trade setup? When the U.S. Dollar Index declines to the $98.00 - $97.00 level it is time to buy the Greenback. Some ways to play the U.S. Dollar on the long side are to buy U.S. Dollar Index contracts (DX-M7), or the PowerShares DB US Dollar Index Bullish ETF (NYSEARCA:UUP).
Nicholas Santiago
InTheMoneyStocks
This Stocks Nears Major Bounce Level, I Am A Buyer Right Here...
This is a pure technical chart play on United States Steel Corporation (NYSE:X). The stock has fallen off a cliff as President Trump has gone soft on China. The worry is he will no longer tax steel imports as once promised. This monster fall in shares of United States Steel gives investors an 'on sale' opportunity to swing trade the stock.
The level to buy is $27.85, only pennies from the current price. The reasoning is simple. There is a former pivot high from July 29th, 2016 at $27.85 as well as the daily 200 moving average. When two levels coincide, the level because much firmer and more likely to see a strong bounce. The expected swing trade bounce would be approximately 10% over the course of a week or so.
Remember, swing trades are not long term investments, they are trades you take for a week or a few weeks, looking to catch near-term moves. Let's see if United States Steel Corp hits the buy level...
Gareth Soloway
InTheMoneyStocks
Goldman Sachs (NYSE:GS) Takes Down The DJIA
This morning, leading financial stock Goldman Sachs Group Inc (NYSE:GS) is trading sharply lower after reporting earnings. This financial giant is part of the thirty stocks in the Dow Jones Industrial Average (DJIA). It should be noted that the DJIA is a price cap weighted index, therefore Goldman Sachs has a very high weighting in the group. A fair case can be made that today's decline is Goldman Sachs stock price is the sole cause for a 50.0 to 60.0 point decline in the DJIA.
Short term day traders should watch for important chart support on Goldman Sachs Group (NYSE:GS) stock around the $210.47 level. Swing traders should watch for major chart support around the $196.67 level. This trade level matches up with the 50-week moving average which is used by many institutional investors and traders.
Nicholas Santiago
InTheMoneyStocks
Strong Buy Alert On AK Steel Holding Corporation $AKS. Take Note Of This...
There is a fantastic swing trade buy on shares of AK Steel Holding Corporation (NYSE:AKS) based on a gap fill support level tagged today. This is a huge level and will likely trigger a monster bounce in the next few days. The price point entry buy level is the gap fill at $6.15. The upside bounce expected is $7.65 (+25%).
To put it in perspective and show this bounce isn't even anything that big, AK Steel Holding Corp $AKS was trading over $11.25 in mid-January. This means AK Steel has declined 45% in just a few months. To expect a bounce back to $7.65 is nothing. The recent sharp decline in shares of AK Steel and other steel stocks is due to President Donald Trump's cozy behavior with China. The steel companies had hoped he would smack tariffs on China steel coming into the United States. That looks very unlikely at this point. However, as I always say, it is likely that he will Tweet about possibly doing it in the near future, causing an instant pop in these stocks. Note the chart below...
Gareth Soloway
InTheMoneyStocks
Key Trade Level Approaches For This Leading Insurance Stock
Traders and investors should note that the leading insurance company stock American International Group, Inc. (NYSE:AIG) has been declining lower since the start of the year. In January 2017, AIG stock was trading as high as $67.47 a share. Today, AIG stock is trading lower by $59.43 a share. Many traders and investors are now wondering if this leading insurance stock is now trading at an attractive level. Well, the chart is telling us there should be a little bit more downside in the cards for AIG stock.
The weekly chart of AIG is signaling a major support level around the $58.00 area. This price level is where the institutional money was injected into the stock back in November 2016. If you look at the chart below you will clearly see the big weekly chart reversal pattern that occurred. Often the institutional money will support the stock when this level is retested. Please understand, AIG will report earnings on May 3, 2017. So there is a good chance this level could be tested around that time of the earnings release. Either way, the $58.00 area is a solid buy level for the stock.
Chart: http://www.inthemoneystocks.com/images/aig%204.17.17.png
Nicholas Santiago
InTheMoneyStocks
Breakdown Coming On Sprint $S. Know This Level...
Shares of Sprint Corp (NYSE:S) are ready to break lower, out of a bearish triangle pattern on the daily stock chart. For the last few weeks, Sprint has been hammering on the bottom of the triangle and should break next week. The downside will be swift with cell carrier heading to $7.40, the daily 200 moving average. This is where it will find significant support and a likely buying opportunity.
Chart: http://www.inthemoneystocks.com/images/bryan/S%2004.13.2017.PNG
Gareth Soloway
InTheMoneyStocks
Buying Past Breakout Levels To Make Money
Many traders and investors are always talking about the story or press releases from a company. In fact, if you watch CNBC, Bloomberg or Fox Business News you will always hear why such and such a stock is going to move higher. There always seems to be a catalyst or story behind the coming move higher for the particular equity that is being touted. Rarely, will the talking head in the financial media talk about chart reading or technical analysis.
Lets take a look at a stock which has very good chart support coming up for a potential trade. The name of the company is Jacobs Engineering Group Inc (NYSE:JEC). This stock has been selling off since late January when it traded as high as $63.42 a share. Today, Jacobs Engineering Group Inc stock is trading at $53.48 a share. This is obviously a significant pullback in the share price of JEC stock. So where is the buy level for JEC stock since it has declined so much? Well, this is when we want to look at the weekly chart to see if the there is technical reason for a bounce higher or for the selling to stop. The first thing that traders should note on the weekly chart is that the 200-weekly moving average sits at $50.62 a share. This level also happens to coincide with the November 2016 breakout. Now this is what a technical chart reader would call institutional sponsorship. This trade level is where I would be a buyer of JEC stock. Now, patiently wait for the equity to trade down to the $50.62 area on the chart.
Institutional traders and investors will generally support stocks and markets at these prior breakout levels. This same technique can often be applied on multiple time-frames for day trading, swing trading and investing. Obviously, you will and should test this method first, but with some practice you will find this tactic to be extremely useful when trading all equities.
Chart: http://www.inthemoneystocks.com/images/JEC%204.13.17.png
Nicholas Santiago
InTheMoneyStocks
Extreme Trade Alert: Home Depot $HD Poised To Move Here...
I am short Home Depot Inc (NYSE:HD) based on multiple indicators showing an extreme overbought condition. The fact that Home Depot Inc (NYSE:HD) has chopped sideways over the last few months, shows institutional selling as funds and small investors buy. This is a passing off of the hot potato before the fall.
Ultimately, when the trend line below breaks (seen in the chart below), Home Depot $HD will collapse quickly. The downside target I have near-term is $135.00. In addition, investors should be very concerned with the recent jobs data and lack of mortgage loans being taken out. This may show signs of a weakening economy. If that is the case, Home Depot $HD will see the brunt of the slowdown in sales and revenues.
Chart: http://www.inthemoneystocks.com/images/bryan/HD%2004.12.2017.PNG
Gareth Soloway
InTheMoneyStocks
Telecom Stocks Retreat, But Know These Trade Levels
Two of the leading telecom stocks in the U.S. are Verizon Communications (NYSE:VZ) and AT&T Inc (NYSE:T). Recently, these two companies have been on the prowl for acquisitions. Verizon has bought AOL and Yahoo Inc (NASDAQ:YHOO) over the past year trying to boost its online presence. AT&T Inc has bought Direct TV and Straight Path Communication. Many analysts are expecting these two telecom giants to try and make other acquisitions in the near term future. This expectation should continue to keep the pressure on these two leading telecom stocks.
Traders and investors should take note that Verizon Communication stock will have very good chart support around the $46.25 level. This area that has been defended by the institutional money in January and November of 2016. This area seems to be the line in the sand for the stock and should be the next major level to buy the stock again.
The next major support level for AT&T stock will be around the $38.40 level. This is an area where the stock broke out in November 2016 and should serve as an important trade level again when tested.
Nicholas Santiago
InTheMoneyStocks
See Why I Am Buying Gilead Sciences $GILD Here
There is something important going on with Gilead Sciences, Inc. (NASDAQ:GILD). It is likely telling investors the downtrend is nearing an end and significant upside is on the horizon. Based on what I will explain to all investors, I will be buying Gilead Sciences at $65.75...
The basis for my thesis comes from the way the stock has acted over the last two months. Since early February 2017, Gilead Sciences jumped from multi-year lows, surging 10% in one week. Over the last 7 weeks, the stock has every-so-slowly inched back down. This is a major change in character from a stock that usually collapsed sharply in a week and took 7 weeks to inch back up before its next collapse. In other words, the price action is showing institutional (big money) accumulation. In addition, the valuation is very attractive. Analysts continue to strongly believe Gilead Sciences needs to buy some drug companies and I believe the company has heard them. I am sure acquisitions will be on the horizon as Gilead Sciences is sitting on a huge pile of cash.
Gareth Soloway
InTheMoneyStocks
Big Trouble Coming For JPMorgan Chase & Co. (JPM)
The stock chart on JPMorgan Chase & Co. (NYSE:JPM) is hanging on by a thread to support. Investors should be very wary about being long the bank stock as big money continues to exit quietly.
Based on countless technical signals, JPMorgan Chase appears to be getting ready to break lower. What is so interesting about this is that JPMorgan is set to report earnings later this week. This may strongly indicate they will miss earnings and/or talk about the less likely chance of Dodd-Frank being undone. Either way, when the trend line shown on the chart below breaks, the stock has major downside to $77.00. Based on calculations, it is just a matter of days until the stock breaks lower. Be ready!
Chart: http://www.inthemoneystocks.com/images/bryan/JPM%2004.10.2017.PNG
Gareth Soloway
InTheMoneyStocks