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Goldman Sachs Group (GS) Has Broken Out And Is Heading To This Price...
Shares of Goldman Sachs Group Inc (NYSE:GS) broke above key resistance and are likely headed to a double top high of $255.00. That would be a 10% upside move, expected in the coming weeks. The reasoning is simple. Interest rates have started to spike higher, good for any bank. In addition, volatility in the stock market is starting to inch back up, another key way Goldman Sachs makes money. Lastly, the chart technical setup is beautifully bullish. Goldman Sachs has broken out above key resistance and is above all three major moving averages on the daily chart (20, 50, 200). This puts it in an exceptionally strong position to roar higher. I am bullish on Goldman Sachs Group.
Gareth Soloway
InTheMoneyStocks
Stalking The Institutional Trade Level
In the trading business there is always something to find, discover and learn. Very often when traders struggle to find an investment they should just simply learn to read the charts. At this time, I'm watching the stock chart of Merck & Co., Inc.(NYSE:MRK) very closely. This stock has been trading around the daily chart 200-day moving average. Should this stock fail to recapture the $64.50 level over the next week or so it will be signaling that another decline is near. Should MRK stock decline then the next major chart support level will be around the $60.90 area. This is where the stock broke out in January 2017. Traders should watch this level closely as it should be defended by the institutional money when it is retested. It is important to note that Merck & Co, Inc.(NYSE:MRK) will report earnings on July 28, 2017 before the opening bell.
Nicholas Santiago
InTheMoneyStocks
Suit yourself, that is what trading is all about. However, when you perform like Gareth and Nick, as shown at the following link, it is safe to say they are the one's to follow: https://www.inthemoneystocks.com/free-services/research-center-track-records. Thanks
ALERT: Fitbit Inc (NYSE:FIT) Bullish Breakout Just Triggered
Shares of Fitbit Inc (NYSE:FIT) are near triggering a major inverse head and shoulder pattern. This is extremely bullish with 40% upside. Fitbit Inc is trading near its 52 week lows and shorts have been in full control. When the inverse head and shoulder pattern triggers, shorts will start covering, popping the stock sharply. Look for an upside move to $7.00 or above.
Alert: Topping Tail Signals Max Move Complete On Boeing Co
Shares of Boeing Co (NYSE:BA) surged in early trading, hitting new all-time highs at $208.61. However, the rally faded as the day dragged on with the stock giving back all the gains and closing flat at $206.44. This reversal from all-time highs increases the odds exponentially that a top is in on the aerospace company. Boeing Co has an official topping tail in place and should now start selling lower. The next wave of selling will take the stock to the daily 50 moving average, which also happens to be a pivot point of support. The downside target is $191.00 from its current level. I am short.
Gareth Soloway
InTheMoneyStocks
I'm Looking To Add This Food Stock To My Shopping Cart
As you all know, most of the leading food stocks have been under heavy selling pressure as of late. Recently, I have been posting a lot of charts of food and beverage stocks that have been declining into very attractive levels for a long side trade. Now I'm looking at another leading food stock that is nearing a major chart support level. This time I will be waiting for B&G Foods, Inc.(NYSE:BGS) to trade down to the $31.75 level. It should be noted that this chart area was supported in September 2015. In fact, this level was also where a reversal and break-out occurred on the monthly chart. Very often, when major break-out levels are retested it will usually be a major chart support. In my humble opinion, this is where I would expect a major bounce in the shares of BGS stock.
Nicholas Santiago
InTheMoneyStocks
Why I Bought 5,000 Shares Of Cara Therapeutics, Inc $CARA
I bought 5,000 shares of Cara Therapeutics, Inc. (NASDAQ:CARA) at $12.32 just minutes ago. The reasoning is mostly technical, as the stock chart is hitting major technical support and is extremely oversold. In addition, at such levels and with promising drug candidates, it becomes a possible buyout target for a big player like Gildead Sciences (GILD) and others. In addition, the company is in the pain relief field. Any drug that is not an opioid can make a company extremely valuable considering the epidemic going on in the United States right now.
Please note, I may sell my Cara Therapeutics, Inc. shares at anytime, depending on market/technical signals. My general upside target is $15.00 near-term.
Gareth Soloway
InTheMoneyStocks
This Stock Is Almost On Sale With A Coupon
Since early June most of the leading food processing stocks have fallen off a cliff. Traders should take note that Smucker JM Co (NYSE:SJM) topped out long before that, peaking in August 2016 at $157.30 a share. Since that pivot top in the stock the shares have tumbled lower by $42.00. Today, SJM stock is trading at $114.95 a share. Many traders may think the stock is now on sale, but that is not the case just yet. There is still lower prices ahead before this stock reaches its institutional buy point.
Traders and investors should watch the $109.00 level for major chart support. This is an area where the stock price should be defended by the institutional traders. In fact, this was a major chart support level in July 2015 and it should be supported again when retested. This area is a support level where I will be looking to buy SJM stock.
Nicholas Santiago
InTHeMoneyStocks
This Food & Beverage Stock Is Starting To Look Tasty
As you all know, most of the leading food processing stocks have been under severe selling pressure since early June. One company that is now nearing an attractive trade level is Kraft Heinz Co(NASDAQ:KHC). This stock traded as high as $93.88 a share on June 7, 2017, today the stock trades at $82.71.
KHC stock is now approaching a very significant buy level around the $81.00 area. This level is where the stock broke out in May 2016. Very often, the major institutional trading firms will defend stocks at these important levels. This trade level should serve as a major chart support area when retested.
Nicholas Santiago
InTheMoneyStocks
Strong Buy On O'Reilly Automotive (ORLY) Off This Chart Support
I grabbed shares of O'Reilly Automotive Inc (NASDAQ:ORLY) today after the stock collapsed 20% on the back of poor same store sales numbers. This drop caused the stock to fall into major technical support at $175.00. In addition, the stock has already been trading sharply lower in 2017, falling from a high of $277.00. This correction, including today has already factored in the fall in store sales and the technical chart level signals the bounce swing trade. I am looking for a bounce back to $205.00 in the coming weeks.
Gareth Soloway
InTheMoneyStocks
Energy Stocks Slammed On Oil Drop
This morning, most of the leading energy stocks are falling sharply lower. The catalyst for the decline today in the energy sector is the weak price of crude oil. Today, crude oil is dropping by $1.74 to $45.34 a barrel. This is a decline of about 3.70 percent on the trading session.
Most of the leading integrated energy stocks such as Exxon Mobil Corporation(NYSE:XOM), Chevron Corporation(NYSE:CVX), ConocoPhillips(NYSE:COP), and BP plc (ADR)(NYSE:BP) are coming under severe selling pressure today. All of these daily stock charts look weak and could still have more downside before finding a bottom. Chevron Corporation(NYSE:CVX) looks attractive for a major bounce around the $100.00 level. This area was defended in 2016 and should still be defended again when retested.
Nicholas Santiago
InTheMoneyStocks
Extreme Bullish Price Action On Fitbit Inc (FIT): Here Is The Trade...
Take a look at the stock chart of Fitbit Inc (NYSE:FIT) over the last week. Not only is the stock up off its 52 week lows, there is a bullish pattern formation nearing major breakout. In addition, as the markets are taking a beating today, Fitbit Inc is slightly higher, showing great accumulation. Last quarter, Fitbit Inc reported solid earnings and actually shot sharply higher. However, bearish sentiment and shorts pushed it back down. After tagging the significant even-number $5 in recent weeks, things appear to have changed. The shorts are no longer able to push it down and the bull flag formation over the last few days is nearing blast-off. The key to the breakout is price trading above the daily 50 moving average. Once that happens, it likely squeezes to the daily 200 moving average at $7.95. That means there is a possible profit of 50%. This is a fantastic risk/reward trade setup.
Gareth Soloway
InTheMoneyStocks
General Electric (NYSE:GE) Still Has more Downside In The Cards
One of the most diversified companies in the world is General Electric Company (NYSE:GE). Recently, the stock price jumped higher after a new CEO was announced, but since that spike in the share price the stock is now starting to retreat lower again. Today, the price of GE stock is trading around $27.00 a share.
Many traders and investors may think the stock is on sale since declining from its recent peak of $29.24 made on June 12, 2017. Unfortunately, this stock has lower to go before finding a solid trade worthy bottom. Traders and investors should now look for the stock to trade down to the $25.90 area. This is a level where the stock broke out of a two year trading base. Very often, These bases will serve as major institutional chart support when retested. This is the reason why the stock charts are more important than the news.
Nicholas Santiago
InTheMoneyStocks
My Entry Price On AT&T Inc. (NYSE:T) Revealed Right Here...
AT&T Inc. (NYSE:T) pays a 5% dividend. The stock is a blue chip that will likely be around for decades to come. Based on these factors, investors like myself look to buy AT&T Inc. on any solid pull back, as long as the stock is into major technical chart support. Think about it like this, even if the stock does not move from your entry, you make 5%. Even if it falls 5% you are flat. In addition, you are buying it at a technical level that puts the odds in your favor significantly of major upside. This is how I think. After saying that, AT&T Inc. is approaching very serious technical support. I am a major buyer of the stock when it hits $35.95. I expect as much as a 10% swing trade bounce off that level, perhaps even more. Add in the 5% dividend and I see this as an obvious investment for longer term investors.
Gareth Soloway
InTheMoneyStocks
Know This Major Trade Level For Kellogg Company
Kellogg Company (NYSE:K) manufactures and markets ready-to-eat cereal and convenience foods in the United States and internationally. The share price in Kellogg stock have been steadily declining since July of 2016. At that time, the stock price traded as high as $87.16 a share, today Kellogg stock is trading at $69.98.
Long term traders and investors should now watch the $64.00 level for major chart support. This is a level where the stock price based for over a year before breaking out to new highs in 2015. This chart area should be defended by the institutional crowd when it is retested. It should be noted that Kellogg Company is expected to report earnings on August 3rd, 2017 before the opening bell.
Nicholas Santiago
InTheMoneyStocks
Are The Semiconductors Flashing A Warning Sign?
As we all know, the tech heavy NASDAQ Composite has been the market leading index in 2017. This index includes the popular FANG stocks such as Facebook Inc(NASDAQ:FB), Apple Inc.(NASDAQ:AAPL), Netflix, Inc.(NASDAQ:NFLX) and Alphabet Inc(NASDAQ:GOOGL). While these stocks have been stellar performers it has really been the semiconductor stocks that have shined.
NVIDIA Corporation(NASDAQ:NVDA) is probably the leading semiconductor stock in the market right now. Since April 13th, 2017 this leading semiconductor stock has rallied higher by more than $50.00 a share. NVDA stock is currently trading at $150.65 a share. This tech leader made a high on June 9th, 2017 at $168.50 a share before reversing sharply lower on that trading day. Since that high pivot the stock has been unable to recapture the highs made that day. In fact, the entire semiconductor industry group topped out on June 9th and most of the leading stocks in the sector have been unable to make new highs since that decline. The popular semiconductor trading vehicle know as the VanEck Vectors Semiconductor ETF(NYSEArca:SMH) is actually still trading around the lows from the June 9th trading day. Is this a warning sign of things to come?
In the past, when the semiconductor sector loses its leadership role it is often a warning sign of a correction on the horizon. Traders should note that if the semiconductor stocks fail to make new highs in the next few weeks it could be a negative omen for the technology heavy NASDAQ Composite and NASDAQ 100.
Nicholas Santiago
InTheMoneyStocks
Know This Major Trade Level For This Retail Stock
As you know, the leading retail stocks have all been coming under severe selling pressure lately. It is well known that Amazon.com (NASDA:AMZN) has been eating the lunch of many leading retail companies. Are these beaten down retail companies ready to adjust to the Amazon way of doing business?
One leading retail stock that has fallen sharply lower is TJX Companies Inc (NYSE:TJX). This company is an off-price apparel and home fashions retailer in the United States and across the world. TJX stock recently topped out on May 10th, 2017 at $80.92 a share. Since that high pivot the stock has plunged lower and is now trading around $68.72 a share.
Traders should note that this stock is now trading into a major support level around the $67.75 area. This level is a major retrace area and it coincides with a weekly chart 200 moving average. Often, this dual support area will signal a major bounce is near in the stock price. Institutional buyers will usually defend the equity around this level.
Nicholas Santiago
InTheMoneyStocks
General Electric (GE): Big Buying Opportunity Right Here...
Just last week, shares of General Electric Company (NYSE:GE) surged almost 10% after it was announced that the CEO would be stepping down. General Electric is one of those old school companies that is having a hard time getting investors to believe they are on the cutting edge of the future. Thus, they have not traded at a price-to-earnings ratio of many other technology companies, even after selling off GE Financial and getting rid of the boring parts of the company. Investors view the current CEO as part of the problem. He is old school when the stock market demands new school. When it was announced, Wall Street cheered and General Electric shares jumped. However, since that day, the stock has faltered and faded, coming back to the gap fill from the sharp pop day. This is known as major support.
Believe it or not, the stock has even moved slightly lower, now into a major level I believe is a strong buy. The level is $27.75 and is a major trend line as seen in the chart below. This is a gift. Investors can buy the stock below levels prior to the announcement. I am looking to swing trade the stock with an upside target of $30.50.
Gareth Soloway
InTheMoneyStocks
Chipotle Mexican Grill Gets Roasted, Where's The Trade?
Yesterday, leading fast food restaurant stock Chipotle Mexican Grill, Inc. (NYSE:CMG) sold off after announcing Q2 guidance. Despite the stock price falling sharply lower on yesterday's news the stock actually peaked out on May 16, 2017 at $499.00 a share. Today, CMG stock trades at $416.00 a share. Many traders are now wondering if the stock is cheap, but unfortunately it should trade lower according to the charts.
Traders and investors should note that the stock was defended in March 2017 at around the $394.00 level. This should be the next major support area for CMG stock when it is retested. At this stage of the game the stock should have the selling momentum to test that key support level.
Nicholas Santiago
InTheMoneyStocks
Nasty Reversal On McDonald's Corp (MCD) Seals Bearish Fate. Note This Chart...
McDonald's Corporation (NYSE:MCD) just put in a major top. Not only is trading above a 27 P/E, historically insane, but McDonald's Corp opened higher today and sold hard on volume. The jump this morning came after Cowen upgraded the fast food company and placed a $180 price target. Let's think about this for a second. In October 2016, McDonald's Corp traded at $110.00. Today it hit a high of $155.28. That is a whopping percentage gain of 41% in 8 months.
Think about that, after a 41% gain, now an analyst upgrades it? That is some sort of wacky joke. This is how tops are created. The reversal signals institutions are selling into the upgrade volume. I have a downside target on McDonald's Corporation at $134.25. This would be about a 50% retrace of the 8 month up move. Hold on and enjoy the ride. I am loving the short trade.
[img]http://www.inthemoneystocks.com/images/bryan/MCD%20%2006.20.2017.PNG
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Gareth Soloway
InTheMoneyStocks
Know This Institutional Trade Level For This Leading Food Product Company
Last week, most of the leading food processing stocks sold off after Amazon.com (NASDAQ:AMZN) announced that they were acquiring Whole Foods Market Inc (NASDAQ:WFM) for $13.7 billion. Many of these leading food processing stocks are still coming under pressure since that news was released. At some point some of these leading food processing stocks will look attractive.
General Mills, Inc. (NYSE:GIS) is a leading is a manufacturer and marketer of branded consumer foods. This stock peaked out in July 2016 at $72.95 a share. Since that high pivot the stock has plunged lower and is currently trading at $56.85 a share. Many traders are now wondering if the stock is on sale, but the chart pattern indicates that the shares are headed lower. At this time, the stock has major support around the $52.50 area. This is a level where GIS stock based for roughly two years before breaking out. Very often, prior base patterns will serve as major support when retested. It should also be noted that General Mills, Inc. (NYSE:GIS) will report earnings on June 28th, 2017 before the opening bell.
Nicholas Santiago
InTheMoneyStocks
Major Top Alert: Tesla Inc (TSLA) Weaker Than Market Here Is The Trade...
Shares of Tesla Inc (NASDAQ:TSLA) have topped. I expect the stock to have a large corrective move to $325, possible as low as $285. Last Wednesday, euphoria hit an all-time high as the stock jumped sharply to new all time highs. The chart on Tesla Inc put in a doji topping signal and has since been under performing the stock market. Volume was huge on that doji day, signaling major distribution by institutions and smart money. In the days that have followed, volume has remained high. As the big money exits, the small investors who bought into the hype are left holding the bag. Investors buying north of $370 are insane. If they stepped back and did not let the emotion get the best of them, they would notice the stock has moved higher from $180 to $385. That is a monster 113% move since last November. That is not normal unless Elon Must cured cancer...and he did not. I love Elon Musk as much as the next guy but I am also a realist, and all signs point to a major top and correction in shares of Tesla Inc.
Gareth Soloway
InTheMoneyStocks
Costco Plunges Lower, Know This Trade Level
Today, leading wholesale warehouse retailer Costco Wholesale Corp (NASDAQ:COST) is declining by $4.06 to $163.03 a share. The retail giant's stock price has been coming under pressure since early May when the shares traded as high as $183.18. Currently, COST stock is sitting right on its 200-day moving average so there is some near term daily chart support.
Unfortunately, the better and stronger institutional support level for COST stock price will be around the $157.00 area. This is a spot on the chart that has a gap window from December 8th, 2016. Often, this level will be defended when retested. This level presents a very solid risk/reward long (buy) side opportunity in the stock.
Nicholas Santiago
InTheMoneyStocks
Major Support Tagged: Kroger (KR) Strong Buy While Average Investors Panic!
Shares of Kroger Co (NYSE:KR) took a beating for the second day in a row. After warning on earnings yesterday, Amazon (AMZN) bought Whole Foods (WFM) today. All grocery plays fell off a cliff on fear that margins would be pressured. The panic was palpable and that is exactly what investors want to see to find great buys! Kroger Co hit major support at $21.50 and became a strong buy.
If logic takes control, investors will realize that even though Amazon is buying Whole Foods, they will not kill margins overnight. They need to integrate, change... etc. It will take years. They may not even be able to do much in the long-run to disrupt the grocery industry. In addition, it will likely force Kroger and other grocery players to adapt and become stronger. Valuation wise, this is a home run for a move back to $25.00 in the near-term. Logic confirms it as does the chart. See below...
Gareth Soloway
InTheMoneyStocks
Where Is The Trade Level For Hain Celestial
One of the leading organic and natural food products companies in the world is Hain Celestial Group, Inc. (NASDAQ:HAIN). This stock has been trading in a very narrow and sideways range since August 2016. This is when the stock plunged by nearly $20.00 a share. You see, on August 12th, 2016 HAIN stock was trading as high as $56.99 a share, today the stock trades at $35.13 a share.
So where is the trade? The stock should have a major institutional support level around the $30.75 area. This is a level where the stock was supported back in early 2013. It is important to note that prior institutional support levels will often be major buying opportunities when retested. Keep HAIN stock on the radar around this level.
Nicholas Santiago
InTheMoneyStocks
Trade Alert: Head & Shoulder Breakdown At Hand On Alcoa Corp ($AA)
Shares of Alcoa Corp (NYSE:AA) have an ugly head and shoulder pattern formation on the stock chart. While the head and shoulder pattern has not triggered yet, it is on the verge. If it triggers, there is huge downside to $23.00. The current price is $31.50. That means there is potential downside on Alcoa Corp of 27%. The key for investors is to watch for the neck-line to break. That is at approximately $31.00. Keep in mind, it needs to be a daily close below $31 to trigger. Once that happens, game on! Head and shoulder patterns are nasty and Alcoa Corp has a beautiful one.
Gareth Soloway
InTheMoneyStocks
Cheniere Energy, Inc. Gets Slammed
This morning, crude oil is declining lower by nearly 4.0 percent. This is causing most energy stocks to sell off. Even energy stocks that are focused on natural gas are coming under severe pressure. Cheniere Energy, Inc.(NYSEMKT:LNG) is a company that is a leader in the liquified natural gas sector. This stock just made a recent high on the chart at $51.41 a share on May 25, 2017. Today, LNG stock is trading lower by $1.58 to $46.72 a share. Traders and investors should note that this stock will have major institutional chart support around the $41.50 area. This is a spot on the chart where the stock broke out to the upside in January 2017. This level should be defended again when it is retested.
Nicholas Santiago
InTheMoneyStocks
Starbucks Corporation (NASDAQ:SBUX) Gets Roasted, Watch This Trade Level
Starbucks Corporation (NASDAQ:SBUX) is a leading marketer and retailer of coffee products around the world. Recently, the stock peaked out on June 5th, 2017 at $45.87 a share. Since that pivot top in the stock the shares have declined to $60.81 a share. Today, the stock is sitting right on the 50-day moving average which could be viewed as short term support. Traders should also watch the $59.50 level for even stronger chart support. This is a major retrace level and also the support levels from April 28, 2017 and May 18, 2017. Often the past support levels will serve as major support when retested.
Nicholas Santiago
InTheMoneyStocks
Here Is The Price Point Where I Would Be Willing To Buy Amazon (AMZN)
Shares of Amazon (NASDAQ:AMZN) are in full correction mode. After hitting a 1,016.50 late last week, the stock collapsed. Today, the low is $945.00. I cannot tell you how many investors are itching to buy the 5% drop. I am here to say it will go lower. While bounces will occur, they are low reward and high risk. The very first level I am interested in buying is the $847.00 price point. This is a high reward, low risk technical chart level as seen below. At this price point, Amazon would be down 15% from the all-time highs. A 7-10% bounce would be likely off this level and a high reward swing trade.
Gareth Soloway
InTheMoneyStocks
Major Chart Support: Walt Disney Co
Shares of Walt Disney Co (NYSE:DIS) are within pennies of the daily 200 moving average. Moving averages are usually major support or resistance. As price is falling down into the 200 moving average, investors should view the 200 moving average as support. In just a six weeks, Walt Disney has fallen from over $116 to this $104 key support. That is a big fall for this mega sized company. I personally view it as an indictment on the economy. Basically, it may be saying the economy is weakening and Walt Disney Co is the leading indicator. Investors can look for a quick technical bounce off the daily 200 moving average. But after that bounce of 5% or so, investors should exit. Ultimately, I see Walt Disney going even lower.
[img]http://www.inthemoneystocks.com/images/bryan/DIS%2006.08.2017.PNG
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Gareth Soloway
InTheMoneyStocks
Know This Trade Level For This Leading Transportation Stock
C.H. Robinson Worldwide, Inc.(NASDAQ:CHRW) is a leading provider of transportation services and logistics solutions throughout most of the world. It should be noted that CHRW stock topped out in March at $81.16 a share. Since that pivot top the stock has declined to its current share price of $67.14. Traders can easily see that this stock is in a weak technical position. CHRW stock price is trading below its 50 and 200-day moving averages. The next major chart support level for CHRW stock is around the $63.23 level. This is an area where the stock was defended by the institutional money back in February 2016. This important chart level is an area where the stock will likely find major support and stage a bounce in the share price.
Nicholas Santiago
InTheMoneyStocks
This Stock Chart Is An Obvious Buy For Smart Investors
Retail has been showing signs of life lately. One of my favorite bullish chart setups is Ralph Lauren Corp (NYSE:RL). The stock took a nose dive from $84 to $66 in May. Over the last two weeks the stock popped up and has stayed near the highs and moved sideways. This pattern formation is known as a bull flag and is extremely bullish for another surge in the coming days. I am loving this chart setup and looking to buy some on the long side. The upside target for Ralph Lauren Corp is $77.50. This would be an over 10% profit once achieved.
Gareth Soloway
InTheMoneyStocks
Watch This Trade Level For Foot Locker Inc (NYSE:FL)
One of the leading retail companies of athletic shoes and apparel is Foot Locker Inc (NYSE:FL). The stock has been selling off since late April 2017. At that time, the stock traded as high as $77.86 a share. Today, the sports apparel retailer is trading at $55.35 a share. FL stock also tumbled by about 15.0 percent after reporting earnings on May 19th, 2017. The stock has been steadily declining since that earnings release.
Traders and investors should now watch the $50.00 to $51.00 area for the next major support level. This is a solid double bottom chart level from June 2016. Often, prior support levels from the past will also be support by the institutional money when retested. This is a chart level where traders should look for a bounce in the stock.
Nicholas Santiago
InTHeMoneyStocks
This Leading Biotechnology Level Should Be On The Radar
One of the leading biotechnology stocks in the world is Celgene Corporation (NASDAQ:CELG). This company discovers, develops, and commercializes therapies to treat cancer and inflammatory diseases. Celgene stock topped out on March 17th at $127.64 a share. Today, Celgene stock is trading at $116.97 a share. Traders can easily see that this leading biotechnology stock has been trending lower on the charts lately. The stock now has major chart support around the $110.00 level. This is an area where the major institutional money supported the equity back in December 2016. Often, old pivot levels will serve as major chart support when retested.
Nicholas Santiago
InTheMoneyStocks
Watch These Key Support Levels For This Giant Bank Stock
Wells Fargo Co (NYSE:WFC) has been steadily declining since March 1st, 2017 when the stock price traded as high as $59.99 a share. Today, WFC stock is trading at $51.99 a share which is about $8.00 lower from the March peak. As you know, the leading financial stocks in the U.S. have been under pressure recently as bond yields have declined.
Where are the key support levels for WFC stock? There are two major chart support levels for the WFC stock price. The first key support area is around the $49.00 level. This level is where WFC broke out in November 2016. The second key support level for WFC stock is around the $45.00 area. This level is major support as it was where the stock broke out of a bearish base. Very often, bearish pattern failures will be major support levels when retested.
Nicholas Santiago
InTheMoneyStocks
Vodafone Group Plc (NASDAQ:VOD) Running Into Major Chart Resistance
One of the leading global telecommunications companies in the world is Vodafone Group Plc (NASDAQ:VOD). The stock price has been steadily rising since December 2016 when it traded as low as $24.17 a share. Today, VOD stock is trading at $30.04 a share. It is safe to say that the stock has been gaining ground in 2017.
Traders should note that VOD stock is now moving into some major chart resistance around the $31.00 level. This is an important retrace area and a place on the chart where the stock broke down in June 2016. There will most likely be a lot of institutional selling around this $31.00 chart level for VOD stock.
Nicholas Santiago
InTheMoneyStocks
Technical Take For Harley Davidson
Leading motorcycle manufacturer Harley Davidson (NYSE:HOG) has been steadily declining since March 16, 2017. At that time, HOG stock was trading above $63.00 a share. Today, HOG stock is trading at $52.16 a share which is roughly a 17.0 percent decline from its March top.
So where is the next level in HOG stock that looks attractive to get into this equity? Traders and investors should note that the $50.00 level look very solid for a bounce. This is a whole round number which is very appealing for traders. It is also a major retrace level from the highs and an area where most institutional traders and investors will support the motorcycle giant. So here is the trade, buy HOG at $50.00 and look for a first target around $55.00. Traders can place a stop loss below the $47.00 level using a weekly chart close.
Nicholas Santiago
InTheMoneyStocks
Major Reversal In Teva Pharmaceutical Industries $TEVA Signals Hard Bottom...
Shares of Teva Pharmaceutical Industries Ltd (NYSE:TEVA) sold hard in early trading, hitting its lowest levels since 2005. It look like another sad day for investors in the pharma stock, but then something amazing happened. The stock turned around, surging to the upside and turning positive on the day. A reversal like this gets the attention of every technical investor and hedge fund trader. In addition, the stock has already traded big volume, over 10 million by 1:30pm ET. Anytime a stock is making new 52 week lows or in this case, decade lows and reverses in such powerful fashion, smart investors jump on board for a possible bottom play.
The upside on Teva Pharmaceutical Industries is big, with a near-term target of $37.50. Investors should be taking note of this reversal on volume. This may be a multi-year low being made with huge upside.
Gareth Soloway
InTheMoneyStocks
The Trend In Retail Is Down, Where Is The Bottom?
As you all know, the retail stocks have been trading lower since April 2015. At that time, the SPDR S&P Retail (ETF)(NYSEARCA:XRT) was trading around $51.00 a share. Today, the XRT is trading at $40.44 a share. Clearly, traders and investors can see that the trend is now down for the retail sector. The growth and business model of Amazon.com, Inc.(NASDAQ:AMZN) has been the leading catalyst for the decline in most of the leading retail stocks. Amazon stock has soared higher since April 2015. The retail giant has gained over $500.00 in share price since that time. Currently, AMZN stock is trading at $974.00 a share. So far, most leading retail companies have not found a way to combat the Amazon retail invasion.
So does the retail sector have a bottom in place? Believe it or not it does. Traders and investors should continue to look for near term weakness in the XRT until the $38.75 level. This is a level on the charts that is signaling major support and institutional sponsorship. Remember, the market is survival of the fittest, eventually these retail companies must start to adapt to the Amazon business model or face further demise. Traders like myself will now look closer at most of the leading retail stocks when the XRT trades down to the $38.75 level. This should be a good time to look for a bounce in many of these beaten down equities in the retail sector.
Nicholas Santiago
InTheMoneyStocks
This Has Me Interested In Shorting Alibaba $BABA
Shares of Alibaba Group Holding Ltd (NYSE:BABA) jumped higher this past Friday morning after reporting solid earnings Thursday after-the-close. However, the party was short lived. After an initial pop higher, the stock reversed off all-time highs, putting in what is known in the technical analysis world as a topping tail. Topping tails are VERY bearish signals of potential long-term tops.
Today, the stock is doing exactly what pro investors would hope, it is bouncing higher, retracing the tail. The reason an up-day today is beneficial is because it allows for investors shorting Alibaba Group Holding to get a higher entry point and it tightens the stop on the trade. The stop is any daily close above the topping tail high. In this case, the high was $126.40. With the stock currently trading around $125.40, this gives investors a tight $1.00 stop with the potential for a major move down to $104.50. How about that risk/reward? Pretty solid. Ultimately, this is a great bearish topping signal on Alibaba Group Holding and investors can look for a short, if interested.
Gareth Soloway
InTheMoneyStocks