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Honeywell International Inc $HON Still Has Downside Momentum, Know This Level
Leading diversified technology and manufacturing company Honeywell International Inc (NYSE:HON) has been under pressure since late January. This leading stock topped out on January 29th, 2018 at $165.13 a share. Since that high in the stock, the shares have declined sharply lower. Today, HON stock is trading at $146.40 a share. Traders should note that the important 200-day moving average was tested last Friday. This pattern tells us that the stock should still have further downside in the coming weeks. The next major support level for HON stock will be around the $139.00 area. This is where the stock broke out in September 2017. As many of you know by now, prior breakout levels will serve as very good support when initially retested.
Nicholas Santiago
InTheMoneyStocks
I just got done working out the next major support level for $GBTC. Believe it or not, the support level is going to be around the $7.35 level. Currently, $GBTC is trading around $12.43. Please remember, it will not go down in a straight line - Nick Santiago
Where Is The Buy? Overly Bullish Investors Helped Me Predict The Sharp Decline In Micron $MU
Shares of Micron Technology, Inc. (MU) continue to decline after earnings fell short of the hopes and dreams of investors last Thursday, after the close. Considering the stock had surged from $38 to $64 in just over a month, no investor should have expected more upside off earnings (though many did). This is an example of greed. In fact, many of my previous posts are Twitter warning of an overbought situation were attacked by small investors long Micron stock. This actually gave me more confidence it was a short as when the masses are overly bullish, 99% of the time a stock is a dead short (it was). Either way, I do believe there is value in Micron Technology, Inc., just at a lower price. The technical chart shows major support at $50.00. This is where I will buy for a snap-back bounce. It should be an easy 10% swing trade pop.
Gareth Soloway
InTheMoneyStocks
This Media & Communications Stock Is Making New 52-Week Lows, Watch This Trade Level
Comcast Corporation (NASDAQ:CMCSA) is a leading media, technology and communications company. CMCSA stock peaked out on January 24, 2018 at $44.00 a share. Since that high pivot, the stock shares have tumbled and now trade around the $33.00 level. CMCSA shares are now making new 52-week lows on the charts. Traders and investors should note that the stock has falling below its important 50 and 200-day moving averages. This current formation puts the stock in a weak technical position on the charts. The next major support level for CMCSA stock will be around the $30.00 level. This important area is where the stock was defended in October 2016. Often, former major support levels will be defended again when retested. At this time, I would expect this level to be a solid bounce area for CMCSA stock.
Nicholas Santiago
InTheMoneyStocks
Cardinal Health Inc $CAH Buy Level Approaches
Cardinal Health Inc (CAH) continues to drop as the stock market drags lower. However, based on trend line analysis, a major support for a swing trade is approaching. Remember, swing trades are short-term trades, hold times can be days to weeks. The Cardinal Health by level is at $64.00. I expect a bounce back to $70.00 off that level. Be ready.
Gareth Soloway
InTheMoneyStocks
Swing Trade Bounce Level On Apple Inc $AAPL
Shares of Apple Inc (AAPL) continue to decline after making a new all-time high just over a week ago at $183.50. With the stock trading near $170.00, investors are starting to get antsy over a buy point. Based on the technical chart levels, there is a near-term quick swing trade at $167.40. This is a technical gap sell with the short-term indicators at extreme oversold levels. This means a 2-5 day swing trade long with an expected upside bounce target of $172.75.
Gareth Soloway
InTheMoneyStocks
Darden Restaurants $DRI Slammed After Earnings, Here Is Where It's Going
This morning, leading restaurant owner and operator Darden Restaurants Inc (NYSE:DRI) is coming under severe selling pressure. Earlier today, the company reported earnings that are not being well received by the street. The stock is trading lower by 7.0 percent to $86.77 a share. Traders must note that DRI stock is now trading below its important daily 200-day moving average. This puts the stock in a weak technical position on the charts. The next important support level for DRI stock will be around the $82.00 area. This is where the stock broke out in November 2017. Often, prior break-out level will serve as very good support when initially retested.
Nicholas Santiago
InTheMoneyStocks
Kraft Heinz Co $KHC Hits Major Double Bottom Support
Shares of Kraft Heinz Co (KHC) just tagged a major double bottom support level from 2015. This brings valuation into an intriguing range on an oversold chart. On a technical chart basis this screams 'swing trade bounce' to investors. I am looking at a buy here at $62.00 for a snap back bounce to $68.00 over the next month.
Gareth Soloway
InTheMoneyStocks
Winnebago $WGO Takes A Trip South After Earnings, Here Is the Trade
Leading recreational vehicle(RV) maker Winnebago Industries Inc (NYSE:WGO) is trading sharply lower today after reporting earnings. The popular RV stock is declining by more than 7.0 percent to $40.47 a share. Traders should note that WGO stock is now trading below it's important 50 and 200-day moving averages. This is a weak chart formation and indicates lower prices to come. The next major support level for WGO stock will be around the $36.00 area. This level is where WGO broke out in September 2017. Often, prior break-out levels will be major chart support when retested. I will be looking to trade WGO on the long side (buy) around the $36.00 level.
Nicholas Santiago
InTheMoneyStocks
Celgene Corp $CELG Is Trending Down, Know This Level
Leading biotechnology stock Celgene Corp (NASDAQ:CELG) has been trending lower since October 2017. At that time, the stock traded as high as $147.17 a share. Today, CELG stock is trading around the $87.00 area. Traders can easily see how this stock has fallen from grace over the past five months. The stock is now trading below its 50 and 200 week moving averages, this is a very negative chart formation. The stock should now find some solid support around the $82.75 area. This is a major retrace level where the stock could bounce from the current oversold condition.
Nicholas Santiago
InTheMoneyStocks
Huge Support Level Tagged On Universal Display Corporation
Shares of Universal Display Corporation (OLED) collapsed sharply today after reports hit that Apple (AAPL) was producing a MicroLED screen versus the OLED screen. The difference is, Organic Light Emitting Diode (OLED), which Universal Display Corp makes, versus the new MicroLED technology. However, considering Universal Display Corp. has fallen from over $200 per share in January 2018 to its current $107.00, big money already knew this and was unloading. It always works this way. Big money gets the news first and dumps. At the very end, average investors get the news and they dump, usually at the dead bottom. I believe Universal Dislpay Corp is at the bottom, at least for a near-term, strong, swing trade bounce. Note the support trend line in the chart below and the mega oversold nature of the chart. There is huge support here and a likely bounce back to $125 will occur.
Gareth Soloway
InTheMoneyStocks
Know This Trade Level For Coca Cola Co
The Coca Cola Co (NYSE:KO) is a leading beverage company that is known world-wide. This beverage stock peaked out on January 26, 2018 at $48.61 a share. Today, KO stock is trading higher by 0.10 to $43.56 a share. Traders should note that KO stock is now trading in a sideways range below its 50 and 200-day moving averages. This formation tells me that the stock remains in a weak technical chart position. The next key support level for KO stock will be around the $41.00 area. This level is where the stock was defended in December 2016. Often, the institutional money will defend an equity again when a major support level is retested. I will be looking to trade KO stock on the long side around the $41.00 level.
Nicholas Santiago
InTheMoneyStocks
Netflix $NFLX Signals Decline Coming With Bear Flag, Overbought Indicators
Shares of Netflix, Inc. (NASDAQ:NFLX) are consolidating in a bearish manner, after a strong reversal candle off all-time highs. This pattern setup has proven throughout history to favor another leg lower. Based on the chart support levels, first target is $285.00 followed by $228.00. With Netflix, Inc. up 75% since the start of the year, it appears to be a simple retrace play. Even just a 25% retrace brings it close to that $285.00 target. There is no arguing with how great of a company Netflix is, however, common sense dictates it has become overbought and the masses (average investors) are now fully invested. Anytime the public is all-in historically, a stock has topped. I expect the next leg lower to begin next week, and likely hit the $285.00 first target within 2 weeks.
Gareth Soloway
InTheMoneyStocks
Roku Inc Is Streaming Lower Prices Ahead
Roku Inc (NASDAQ:ROKU) is a leader in streaming entertainment devices for televisions. The company came public in October 2017, so there is not a lot of historical chart data at this time. Traders should note that the stock peaked out on December 19, 2017 at $58.80 a share. Since that high pivot in the stock, the shares have tumbled lower and currently trade around $36.00 a share. The next important support level for ROKU stock will be around the $30.00 area. This is where the stock had a major gap window dating back to November 9th and 10th, 2017. This area is the next level where the stock has a shot at being defended by the institutional crowd. I will be looking to take a stab at the stock on the long side via call options around this important support level.
Nicholas Santiago
InTheMoneyStocks
Here Is A Classic High Reward, Low Risk Trade On J C Penny
Shares of J C Penney Company Inc (NYSE:JCP) continue to decline, now down from $4.75 in late February to nearly $3.00 in mid-March. There is a low risk, high reward trade setup I am watching. First, note the major support level at $2.75 (see in the chart below). That is the buy level. But to complete this trade, you want to know that you are risking a minimal amount for a large reward. First, the upside could be huge. Just two weeks ago, J C Penney was trading at $4.75. A swing trader that buys at $2.75 can make 73% if it just trades back to those highs. The next setup is to look at the risk. The 52 week/multi-year low on J C Penney is $2.35. As a swing trader, that would become your stop (a daily close below $2.35). This means that you are risking under 15% for a likely reward of 73% and buying off a major technical chart support level. To me, this is a trade worth taking. I will continue to watch as J C Penney approaches the buy level.
Gareth Soloway
InTheMoneyStocks
Revealed: Major Buy Level On Signet Jewelers $SIG As It Flushes
Investors ran for cover on Signet Jewelers Ltd. (NYSE:SIG) today after the mall jeweler unveiled a restructuring plan, involving the closing of 100s of stores. The stock sank sharply, dropping nearly 20% to $39.02 by early afternoon on Wednesday. Signet Jewelers Ltd. was a $150 stock in 2015, but now hovers at a fraction of that price. Big investors and traders are scoping out the chart to find the proper major buy level. Based on chart analysis and pivot points, there is major support at $33.00. While this still signals another 15% decline in price from the current levels, it will likely happen quickly based on the recent news. The $33 level could easily see a 25-50% bounce in Signet Jewelers Ltd. shares.
Gareth Soloway
InTheMoneyStocks
The Dollar Stores Are No Bargain Yet
The two leading publicly traded discount variety retail stores are Dollar Tree Inc (NASDAQ:DLTR) and Dollar General Corp (NYSE:DG). Both of these stocks topped out on the charts in late January 2018 and have fallen sharply from that peak. It should be noted that these two retailers have struggled to gain any traction back to there former highs. When stocks show weak relative strength compared to the major stock indexes it indicates potential downside to come.
Dollar Tree Inc (NASDAQ:DLTR) peaked out on January 31, 2018 at $116.65 a share. Today, DLTR stock is trading lower by $1.39 to $93.03 a share. So far, the stock is trading just above it's daily chart 200-day moving average, but a close below it would likely signal further downside. The stock should have major support around the $83.00 area. This level is where the stock broke out in September 2017. Often, prior breakout levels will serve as major support when retested. This is where I would be interested in the stock on the long side. Until this level is reached the Dollar Tree (NASDAQ:DLTR) stock is no bargain.
Nicholas Santiago
InTheMoneyStocks
Netflix Inc. $NFLX Starts Retrace Back To Trend, See Target It Here
Shares of Netflix Inc. (NFLX) continue their downward move after making an all-time high of $333.98 yesterday. The stock, now trading near $315.00 is likely beginning a normal retrace back to the long term trend. The recent surge in Netflix shares had it up over 75% since the start of 2018. This insanity is driven by hype and greed and cannot last. The technical retrace to the trend is shown in the chart below as currently sits at $240.00-$250.00.
Gareth Soloway
InTheMoneyStocks
Every Trader Should Watch This Qualcomm Inc Level
Qualcomm Inc (NASDAQ:QCOM) is a leader in the design and development of digital communication technology called code division multiple access (CDMA) and orthogonal frequency division multiple access (OFDMA) family of technologies including long-term evolution (LTE). The stock has been in the news for the past several months negotiating a potential takeover bid by Broadcom Ltd (NASDAQ:AVGO). This deal was shot down by the Trump administration citing national security.
Traders should now notice that QCOM is trading below its wide range sell-off bar from February 5, 2018. This chart formation puts the stock is now in a very negative technical position. The next major support level for QCOM stock will be around the $55.00 area. This is a level where the stock broke out in October 2017. Often, prior breakout levels will serve as major support when initially retested.
Nicholas Santiago
InTheMoneyStocks
Major Short Level About To Be Tagged On Alphabet Inc
Shares of Alphabet Inc (NASDAQ:GOOGL) have soared in the last seven trading days. After trading below $1,050 on March 2nd, Alphabet finds itself nearing $1,180. The $1,180 is a huge technical resistance level. It is a gap fill from earnings, and sure to be major resistance. This level is also very close to a major resistance double top/all-time high. Investors, including myself are looking to short Alphabet at gap fill $1,180.
Gareth Soloway
InTheMoneyStocks
Bank of America Breaks Out: Here Is The Target
Shares of Bank of America (BAC) moved above a major resistance level at $32.70 on Monday. This is a technical breakout (assuming the stock can hold above into the market close today). The breakout has an upside measured target of $35.15 and could be seen within a week or two. Once there, the stock will pull back and can be taken as a swing trade short. Financial stocks continue to hold up well as interest rates stay steady on the 10 year bond near 3%. Higher interest rates mean more profit for financial institutions.
Gareth Soloway
InTheMoneyStocks
Mortgage Insurance Stocks Tank, Watch This Trade Level
This morning, many of the leading mortgage insurance stocks are coming under sharp selling pressure. Obviously, higher interest rates are weighing on the industry group. Leading mortgage insurance stocks such as MGIC Invt Corp (NYSE:MTG), Radian Group Inc (NYSE:RDN), Essent Group Ltd (NYSE:ESNT) and N M I Holdings Inc Cl A (NASDAQ:NMIH) are all declining lower by more than 2.0 percent in today's trading session.
MGIC Invt Corp (NYSE:MTG) is a leading mortgage insurance stock that is now on my radar for a trade. The stock is declining after forming a weekly bearish consolidation pattern. This tells me that the next major support level for the stock is going to be around the $12.00 area. This important support level should serve as an excellent level for a bounce in the stock.
Nicholas Santiago
InTheMoneyStocks
DryShips $DRYS Still On Watch For Major Breakout
I continue to keep shares of DryShips (DRYS) on my radar for a possible breakout. Note the chart below. Should price close the day above the trend line, a surge is likely to begin taking Dryships to an upside target of $5.50. Really interesting chart here for advanced investors/traders.
Gareth Soloway
InTheMoneyStocks
Call Option Trade On CIGNA Corporation $CI
Shares of CIGNA Corporation (NYSE:CI) are falling sharply today after they announced a buyout of Express Scripts Holding Company (NASDAQ:ESRX). Investors are taking the buyout as a sharp negative for shares, likely a signal big money thinks they overpaid. Whatever the case, the stock is falling over 11%, but gives investors waiting for an entry a buying opportunity. There is a pivot to $170.00. I will look to pick up some calls here. Join the options alerts to get my exact entry price, expiration and strike. All the details live to join me.
Gareth Soloway
InTheMoneyStocks
Thor Industries Reverses Lower, Here Is The Trade
Thor Industries Inc (NYSE:THO) is a leading manufacturer of recreational vehicles in the U.S. and Canada. Earlier today, the stock rallied higher after the opening bell trading as high as $127.50 a share. Unfortunately, since that high pivot the stock has reversed lower and is now trading down by $4.56 to $117.86 a share. The stock is now testing the 200-week moving average for the second consecutive week. This tells me that the stock is now vulnerable to trade lower in the near term. Traders and investors should now watch the $109.75 area for support. This is a level that would interest me to own THO stock on the long side.
Nicholas Santiago
InTheMoneyStocks
This Leading Drone Maker Tanks After Earnings, Watch This Trade Level
AeroVironment, Inc. (NASDAQ:AVAV) is a leading manufacturer of unmanned aircraft and electronic vehicle charging and test systems for the U.S. and international governments. Today, the stock is trading lower by $6.74 to $43.76 a share after reporting earnings. Traders should note that today's decline puts the stock under the daily chart 200-day moving average. Should the stock close down here below this key moving average it could signal further downside to come for share price. The next important support level in play will be around the $38.75 area. This major support level is where the stock broke out in August 2017. Often, when a major breakout level is retested it will serve as an excellent bounce area for the stock.
Nicholas Santiago
InTheMoneyStocks
This Is Why Micron Technology $MU Is A Strong Short
Shares of Micron Technology, Inc. (NASDAQ:MU) surged again today, hitting a new all-time high of $54.64. This surge tagged a massive trend line that stretches back to the top in 2009 and the top in 2014. When connecting those pivot highs, the trend line extends all the way out to $54.50, the level tagged today. After each pivot high in 2009 and 2014, Micron Technology, Inc. corrected 50%. That means another monster correction is likely at hand. Look for the stock to collapse as low as $27.00 in the next 12 months.
Gareth Soloway
InTheMoneyStocks
This Leading Telecom Stock Will Look Attractive Here
Verizon Communications (NYSE:VZ) is a leading provider of communications, information and entertainment products and services to consumers, businesses and governmental agencies. The stock peaked out on January 25, 2018 at $54.77 a share. Since that high pivot, the stock has fallen down to $48.59 a share. Traders should note that the current share price is trading below its important 50-day moving average. This puts the stock in a weak technical chart position and potentially signals further downside near term. The next major support area for VZ stock will be around the $45.00 level. This is where the stock was defended in November 2017 and it will likely be defended again when retested.
Nicholas Santiago
InTheMoneyStocks
Triangle Breakout On Watch: DryShips Inc.
Investors who enjoy a bit of risk in their investing lives should have DryShips Inc. (NASDAQ:DRYS) on their high alert radar. The stock is forming a classic bullish triangle pattern inside of another long-term bullish consolidation phase. Should price notch-up above $3.75, the stock will likely be in breakout mode, surging to an upside target of $5.50. This is a possible upside percentage move of nearly 50% upon the breakout. I am placing this stock on high alert and will potentially be a buyer on the breakout.
Gareth Soloway
InTheMoneyStocks
JD.com Inc Holds Key Level By A String, Here Is The Trade
JD.com Inc (NASDAQ:JD) is a leading online direct sales company that operates in China. This leading Chinese ADR peaked out on the daily chart on January 29, 2018 at $50.68 a share. Since that high pivot, the stock has made a lower high pattern. JD stock is also testing the important 200-day moving average for the second day in a row. Traders should note that if the 200-day moving average fails to hold as support this should signal another leg lower for the stock. Swing traders should note that the next major support level for JD stock will be around the $37.00 area. This important support level was where the stock was defended in December 2017. Often, this support area should be solid support for JD stock when retested.
Nicholas Santiago
InTheMoneyStocks
Walmart $WMT Tags The Daily 200 Moving Average, Signals Strong Buy
Shares of Walmart Inc (NYSE:WMT) opened lower on Friday, tagging the daily 200 moving average. With the stock down from a January high of $109.98 to its 87.24 (the daily 200 moving average), this is an obvious swing trade bounce play. The stock should snap back quickly to as high as $95.00 in the coming weeks. The stock is in extreme oversold territory. I grabbed some calls today when the stock was trading around $87.50.
Gareth Soloway
InTheMoneyStocks
This Trade Level For Garmin Ltd Should Be On The Radar
Garmin Ltd (NASDAQ:GRMN) is a leading manufacturer of hand-held, portable and fixed mount GPS systems. The stock topped out on February 20, 2018 at $65.96 a share. Since that pivot high, the stock has sold off by nearly 7.0 points. Currently, GRMN stock is trading lower by 0.07 to $59.17 a share. It should be noted that GRMN stock is now trading below the important 50-day moving average. This technical setup puts the stock in a weak technical position. The next major daily chart support level will be around the 200-day moving average which is currently at $56.00. After that, the stock should have even more support around the $54.00 level. This major support area is where the stock broke out in October 2017. Every trader should be keeping this major support level on the radar.
Nicholas Santiago
InTheMoneyStocks
Know This Trade Level For This Consumer Staples Stock
Since interest rates have been rising many of the leading consumer staples stocks have been under pressure. Today, Colgate-Palmolive Co (NYSE:CL) is trading lower by $0.58 to $69.34 a share. This leading consumer goods stock topped out on January 19, 2018 at $77.91 a share. Since that high pivot price in the stock the share have fallen below the important 50 and 200-day moving averages. This is putting the stock in a weak technical position on the charts. The next major support area for CL stock will be around the $66.00 level. This is where the stock will look very attractive for a long side trade.
Nicholas Santiago
InTheMoneyStocks
Nasty Topping Tail On The Semiconductor ETF $SMH
Shares of the semiconductor ETF $SMH surged in early trading, only to reverse in dramatic fashion, going negative on the day. The early surge made a new all-time high but the reversal is an ugly topping tail, a likely major top signal. Investors should watch where the $SMH closes today to see if it holds the topping tail. If it does, the SMH is a stone cold short.
Gareth Soloway
InTheMoneyStocks
Nutrisystem Inc Sheds Weight After Earnings, Know This Trade Level
Today, leading weight loss service Nutrisystem Inc (NASDAQ:NTRI) is shedding some pounds after reporting earnings. The stock is trading lower by nearly 23.0 percent on heavy volume. Traders should note that NTRI stock is holding on to its weekly chart 200 period moving average at $30.70. Any close in the stock below today's low at $28.50 should signal another decline in the shares. Traders should now watch the $24.40 area as the next major support level in the stock. This is where the stock was defended in May 2016 and will likely be defended again when retested.
Nicholas Santiago
InTheMoneyStocks
Apple Tags Major Double Top, Likely Epic Topping Tail In Play
Shares of Apple Inc (AAPL) jumped in early trading on Tuesday just ahead of comments from new Federal Reserve Chairman Jerome Powell. After making a new all-time high at $180.48, Apple reversed sharply, turning negative on the day. This reversal may put in a daily topping tail and spell trouble for the stock going forward. Based on technicals, including the epic double top, I shorted Apple Inc with members in the Research Center. This is a pure technical swing trade, expecting this current reversal and more downside in the coming days. I have a near-term downside target of $150.00 on the stock.
Gareth Soloway
InTheMoneyStocks
Trade It: Apple Inc $AAPL Nears Major Double Top Resistance
Shares of Apple Inc (AAPL) are surging again, nearing the all-time high double top from January 2018. Today's surge is coming on the back of comments Warren Buffet made on CNBC, praising the company. To swing traders like myself, it is a perfect shorting opportunity. The double top and all-time high give a perfect resistance level to sell into, and just two weeks ago the stock kissed the $150 level. This means there is a better reward to being short at this point (near-term) versus being long. The pullback target off $180 is $167.
Gareth Soloway
InTheMoneyStocks
Know This Trade Level For Universal Display Corp
Universal Display Corp (OLED:NASDAQ) is a leader in the research, development and commercialization of organic light emitting diode (OLED), technologies and materials for use in display and solid-state lighting applications. Last week, OLED stock dropped sharply after reporting earnings. It should be noted that the stock is now trading below its important 50 and 200-day moving averages. This technical chart setup signals near term weakness and further downside to come. Traders and investors must now look down around the $118.00 level for near term support. This support area is where the stock broke out in late August 2017. I will be keeping this stock on the radar and watching when OLED stock trades down to this bounce area.
Nicholas Santiago
InTheMoneyStocks
Major Swing Trade Buy Level On Applied Optoelectronics (AAOI) Revealed
Shares of Applied Optoelectronics Inc (NASDAQ:AAOI) are collapsing today after the company reported earnings and guidance below Wall Street's expectations. The stock collapsed more 20%, to the mid-$26's. As a swing trader, I am finding major support at $22.80. This is a gap fill and a technical monster support. In addition, the stock is down from its 52 week high of $103.41. This places the stock in a long-term oversold condition. Once the major technical target of $22.80 is reached, Applied Optoelectronics should snap back to $30 or higher.
Gareth Soloway
InTheMoneyStocks