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Starbucks $SBUX Nearing Max Move Level
Shares of Starbucks (SBUX) continue to make new all-time highs, today hitting a high of $78.57. However, this is nearing a maximum move if you look at the monthly chart and draw a trend line starting in 2005 and connecting to the 2015 high. The trend line extends out and finds the current price just a shade below. This tells us that Starbucks is near its maximum before the next strong pull back. Max upside potential should be $80, then look for a strong sell back to $70. Pro traders are looking to short this in the coming days.
Gareth Soloway
InTheMoneyStocks
This Leading Chinese ADR Could Not Catch A Bid When There Was A Likely Trade Deal, Here's The Play
Baidu Inc (NASDAQ:BIDU) is viewed by many as the Google of China, it is the leading internet search engine in the country. The stock has been stuck in a sideways trading range since it bottomed in December 2019 at $153.78 a share. Traders should note that in May 2018 the stock traded as high as $284.22 a share. Today, BIDU stock is trading at $159.14 a share so you can see how this stock has struggled in 2019. Remember, the NASDAQ Composite and the NASDAQ 100 just made new all time highs last week. At this time, the stock looks to have a lot of support around the $150.00 level. This support area is simply a big whole round number that has not been tested yet. Often, markets love big whole round numbers and this should be the case for BIDU stock when it is tested. Should this $150.00 support level fail then the next major support area will be much lower and likely around the $130.00 level.
Nicholas Santiago
InTheMoneyStocks
These Stocks Will Sink If There Is No Trade Deal
Over the weekend we heard there was news that China and the United States were far apart when it comes to a trade deal. It was originally reported that the Chinese would not send delegates to the U.S. this week for more negotiations. This news sent the Shanghai market sharply lower as it declined by nearly 6.0 percent overnight. The U.S. markets also started the session sharply lower at the open but have rallied decently off the lows so far today.
Many different sectors and stocks will come under pressure if there is no trade deal soon. First, the semiconductor stocks are highly tied to a Chinese trade deal. This morning, the VanEck Vectors Semiconductor ETF (NYSEArca:SMH) is trading lower by 2.0 percent on the news. Many individual semiconductor stocks such as Micron Technology Inc (NASDAQ:MU), NVIDIA Corp (NASDAQ:NVDA), Skyworks Solutions Inc (NASDAQ:SWKS), Broadcom Inc (NASDAQ:AVGO) and many others are also trading sharply lower today.
Caterpillar Inc (NYSE:CAT) is also another stock that could be punished if there is no trade deal. Remember, they are the leading manufacturer in construction and mining equipment. Apple Inc (NASDAQ:AAPL) is a U.S. tech giant that gets about 18.0 percent of its revenue from China, so this stock could be adversely affected on a failed trade deal. The casino stocks could also be vulnerable on a failed trade deal. Stocks such as Wynn Resorts Ltd (NASDAQ:WYNN, Las Vegas Sands Corp (NYSE:LVS) and MGM Resorts International (NYSE:MGM) are heavily tied to China's Macau market.
Get ready, this trade story between the U.S. and China could just be heating up. While both countries want and need a trade deal the negotiations seem to have reached a road block. Either way, this news should create solid trading opportunities for traders and investors along the way.
Nick Santiago
InTheMoneyStocks
Screaming Buy Price On $VZ Is Right Here...
Taking a deeper look at the Verizon Communications Inc (NYSE:VZ) stock from a technical, chart performance standpoint, it indicates that the stock will be range bound throughout 2019 with one opportunity for a great buy level. As seen on the chart, the high end of the of the stocks trading range has been near the $61.00 price level. While the low end of the range is near the $52.00 level. This range is the main factor anyone considering taking a position in the stock should be focused on. Recently, the company reported earnings and raised their FY 19 EPS guidance to low single digit growth outlook. As a stock trader with well over 2 decades of experience in dealing with these scenarios, and many alike, this tells me that the stock is not poised to take off higher anytime soon. The weekly and monthly chart trends are still up, so any major sell off should lead to a buying opportunity in the stock - however, the upside expected on the trade would be limited to the upper price range as noted previously. When considering the best way to make money from VZ stock in 2019, unfortunately, there is really nothing to get overly excited about right now.
While everyone continues to talk about the roll out of 5-G, this still appears to be somewhat down the road. Also, other fundamental drivers such as the acquisitions of AOL and Yahoo! Inc do not seem to be major stock price movers for the company in the near term, and I'm not sure they ever will be.
ALL YOU NEED TO KNOW: The one thing to watch closely is the lower range of the stock. Should the stock break lower through the $52.00 price point and test the $48.00 area, I believe that would be a screaming buy level. After all, while the performance of the stock may be on the range bound/dull side, the company is still the number one mobile provider in the United States and its long term performance should lean to the upward direction. The one thing we need to do as smart investors is locate the best time/price to buy and I will be patiently waiting to enter at a breach of the lower price point of the range.
Nick Santiago
InTheMoneyStocks
Multi-Factor Buy Level On Alphabet $GOOGL
Shares of Alphabet (GOOGL) took a beating today after reporting poor financial results. The stock is trading lower by over 8%, just under $1,190.00. The top pro traders around the world are eyeing one major level for a buy. The buy trigger is $1,135.00 and is based on a pierce of the daily 200 moving average + a major former pivot high from 2018 and the 50% Fibonacci retrace from the low in December 2018 to the recent all-time high yesterday. These levels all coincide, giving investors a beautiful buying opportunity. Be patient, it will easily get there in the next few weeks.
Gareth Soloway
InTheMoneyStocks
Alphabet $GOOGL Plunges After Earnings And It Still Has Lower To Go
This morning, leading tech giant, Alphabet Inc (NASDAQ:GOOGL), is plunging lower after reporting earnings. Obviously, the street did not like the earnings report from the company. Alphabet reported a sharp decline in ad revenue. The company also said changes to the YouTube algorithm caused lower engagement and ad revenue growth on the site. Today, the shares are trading lower by nearly 8.0% to $1193.76 a share. Traders and investors should note that GOOGL stock is now trading down to its important 50-day moving average. A weekly close below this key support level will likely cause the shares to decline further. At this time, the daily chart is still showing very good short term support around the $1174.00 level. This is a key support area and where the stock was defended on March 28, 2019. As always, the pattern over the next few weeks will be important.
Nick Santiago
InTheMoneyStocks
3M $MMM Tumbles And Still Has Lower To Go, Here's The Trade
Today, leading Dow Jones Industrial Average component, 3M Co (NYSE:MMM), is declining lower by $25.61 to $193.47 a share. The stock reported earnings earlier today that are not being well received by the street. The company cut its 2019 earning forecast and said it will lay off 2,000 workers. Often, when stocks plunge from recent highs like this it will take a lot of time for the shares to recover. If fact, the current chart pattern signals further downside in the stock price before major chart support is found. At this point in time, the only level that looks like solid support will be around the $175.00 area. This is a level where the stock was defended in December 2018 and should be solid support again when tested.
Nick Santiago
InTheMoneyStocks
The Best Bet For Stocks Is That No U.S./China Trade Deal Is Announced
As you all know, stocks have been rallying since December 26, 2018. The first quarter rally has been nothing short of amazing. Almost every trader and investor is waiting for a U.S./ China trade deal. Every few days we hear that a trade deal between the two countries is getting closer to actually happening.
Volume trends have been extremely light in 2019 which indicates very little selling pressure in the markets. Contrary to popular belief, light volume actually favors upside in the markets. Hence the old market adage, never short a dull market. At this time, many traders and investors are waiting for a trade deal to be struck by the United States and China. Simply put, nobody wants to get caught short when a deal is announced. After all, all we hear in the financial media is that a trade deal could add another 10 percent of upside to the market immediately. So who in their right mind would want to be short right now.
It is probably better that there is no actual trade deal announced in order for stocks to continue climbing. What would happen if the talks between the U.S. And China fell apart right now? That would probably be a big hiccup for the major stock indexes. On the flip side, should a deal be struck and signed then there will likely be another pop in the markets in the near term, but after an initial spike it could be a sell the news event. After all, the markets are rising on anticipation of a deal being announced very soon.
Nicholas Santiago
InTheMoneyStocks
Silver Triggers Major Buy Per The Chart $SLV
Commodity traders are buying silver today after it completed a 61.8% retrace, filled a major gap on the $SLV (Silver ETF) chart and retraced into epic multi-pivot support. This triple factor level signals a coming bounce in silver. Note the chart below.
Gareth Soloway
InTheMoneyStocks
Kimberly Clark $KMB Reverses After Last Week's Earnings Pop
Today, leading consumer goods company, Kimberly Clark Corp (NYSE:KMB), is reversing sharply lower on the session. The stock is trading lower by $4.23 to $126.02 a share. This past Thursday, the stock soared to new 52-week highs after reporting earnings on April 22, 2019. On that day the stock traded as high as $132.47 a share. Traders must always be cautious when stocks reverse so much of there recent gains from a break-out. Often a reversal of this magnitude could signal much more downside in the near term. Please understand, while the stock is still in an up-trend and trading above its 20 and 50-day moving averages this reversal usually signals further downside in the shares. There are several support levels coming up such as the gap fill from the April 18, 2019 close, the 50-day moving average, and the $118.00 break-out level. Out of all of these near term support Levels the $118.00 area looks the best for a solid bounce in the stock.
Nicholas Santiago
InTheMoneyStocks
The Health Care Select Sector SPDR Fund $XLV Is Now Attractive
As we all know, the health care stocks have been getting crushed this week. In fact, a fair case can be made that they have struggled since early March 2019 when the Health Care Select Sector SPDR Fund (NYSEARCA:XLV) traded as high as $93.45 a share. Today, the XLV is trading around the $86.00 level. Trader can easily see that the XLV is now trading sharply below its important 50 and 200-day moving averages. This is generally viewed as a sign of weakness and often an indication of further downside action in the sector. Now before we get too negative, traders should note that there is some saving grace for the sector coming up. First, the 100-week moving average is around the $85.60 area, so this is going to be some important support for the XLV near term. Second, there is also a very strong retrace level coming up as well and this could help support the XLV in the near term around the $85.50 level. So technically speaking, the XLV looks very attractive at this time despite many of the leading healthcare stocks being sold off.
Nicholas Santiago
InTheMoneyStocks
Healthcare Inc $HCA Nearing Double Bottom Support
Healthcare stocks are being crushed today after medicare for all appears to be the wave of the future. While it may coming soon (next decade or so), there are still possible long trades in the sector. For example, Healthcare Inc (HCA) is slamming into a double bottom, technical support level at $116.25. With the stock down over 8% on the day, a technical long trade has a high reward factor for a day or two. Expect a bounce off this level back to as high as $124.00.
Gareth Soloway
InTheMoneyStocks
The 10-Year Bond Yield Is Telling You Everything You Need To Know
Bond yields on the 10-year U.S. Treasury Note were as low as 2.356% on March 27, 2019. At that time, the leading financial stocks such as JP Morgan Chase (NYSE:JPM), Goldman Sachs (NYSE:GS), Bank of America (NYSE:BAC) and most other financial stocks started to move back to the upside after a sharp five day decline that started on March 19, 2019. By now, every trader and investor knows that the stock market cannot really have a sustained rally without the leading financial stocks participating. Currently, the yield on the 10-year U.S. Treasury Note is around 2.55%. So simply put, yields have jumped up by just 20.0 basis points. That is not a big surge at all, but it has helped out the financial stocks and has given confidence back to the marketplace.
It looks like the 10-year U.S. Treasury Note yield found support at the 200-week moving average on March 26, 2019. This is certainly the key level that traders must now watch. If yields start to fall again on the 10-year U.S. Treasury Note it could be problematic for the current rally. Should yields decline below that important pivot low at 2.356% then it will likely bring some serious fear into the financial stocks again and possibly the entire stock market. At this time, the next important resistance level for bond yields will be around the 2.65% area. Right now, the 10-Year Bond Yield is telling you everything you need to know.
Nick Santiago
InTheMoneyStocks
Canopy Growth Is Breaking Down, Here's The Next Major Trade Level $CGC
Canopy Growth Corp (NYSE:CGC), is a leading Canada-based multi-brand cannabis company that is coming under some distribution today. The stock made a recent top on February 4, 2019 at $51.81 a share. Since that high pivot, the stock has been steadily declining lower and is currently trading at $40.13 a share today. Traders should note that the stock is now trading below its important 50-day moving average which indicates daily chart weakness. CGC stock will have many short term support levels coming up, but this downtrend is likely to continue for the next few months. The one major support level that I see on the charts is around the $32.00 area. This is where the stock soared higher on heavy volume in early January 2019 . Often, when a stock backtests their breakout level it will be defended again.
Nick Santiago
InTheMoneyStocks
Vivint Solar Inc $VSLR Breakout Alert
Shares of Vivint Solar Inc (VSLR) just crossed above a major trend line of resistance, likely solidifying a breakout. The stock is currently trading at $5.35 and could head to gap fill $7.00 as the target. This is a great chart setup as the target is almost 30% higher and the stop is any close back below the breakout trend line of a few percentage points lower.
Gareth Soloway
InTheMoneyStocks
Will The Strong U.S. Dollar Hurt The Multi-National Stocks?
Earlier today, the European Central Bank (ECB) gave another weak forecast for the European economy. The ECB President Mario Draghi is concerned that he is seeing slower growth momentum in the euro zone. This news should continue to support the U.S. Dollar Index (DX) in the future. While the U.S. Dollar Index remains strong at this time it has still not broke out much past the $97.00 area. Should the dollar continue to gain strength this could hurt many of the large multi-national companies in the United States. Traders must remember, a weaker currency will usually boost exports as it becomes cheaper to sell goods abroad. While the U.S. Dollar Index is still below its 2017 peak it is starting to creep up toward that old high level. Earnings season is around the corner as J.P. Morgan Chase (NYSE:JPM) and Wells Fargo & Co (NYSE:WFC) are scheduled to report this Friday. So we shall start to hear from many companies about how the strong dollar is affecting their bottom line.
Nick Santiago
InTheMoneyStocks
Netflix $NFLX At Risk Of Major Breakdown
Shares of Netflix (NFLX) continue to stay weak, even when the market rallies higher. While the S&P and NASDAQ are making 2019 highs almost daily, Netflix topped in mid-January 2019 and has chopped sideways. This shows institutional distribution. There is a significant trend line of support that price is hitting on. It is around $360.00. Should it break, the stock has three downside target levels. The first target is $320, then $299 and finally $273. The key here is the competition. With Apple Inc (AAPL) entering the arena, Disney (DIS) launching their service and countless others already on-line or coming on-line, Netflix is going to have some major competition. The growth rate exhibited by Netflix is unsustainable and institutional investors know this. At the high current valuation, smart investors are starting to shy away from Netflix. Based on these factors and the chart, a breakdown is coming shortly.
Gareth Soloway
InTheMoneyStocks
Boeing $BA Is Falling Again, Here's The Chart Level You Should Know
Boeing Co (NYSE:BA) continues to remain one of the most volatile stocks in the market. Traders and investors simply cannot find a stabilizing stock price at this time. Since the unfortunate Ethiopian Airlines accident the stock has been stuck below the important psychological $400.00 level. Today, the shares of BA are trading lower by $19.29 to $362.64 a share. The catalyst for today's decline in the stock is due to the company announcing it will temporarily cut its 737 Max production from 52 planes to 42 planes a month. Boeing Co is scheduled to report earnings on April 24, 2019. Until that time, the stock is going to see more choppiness and volatility. The one level that I will be watching for the stock will be around the $330.00 area. This key support level is where the stock broke out on January 8, 2019. Once it is retested it should serve as solid support and a likely level to see institutional sponsorship.
Nick Santiago
InTheMoneyStocks
Big Bearish Outside Day For Cloud Based Software Stocks
This morning, most of the leading cloud based software stocks are declining sharply lower. Leading software stocks such as $ZEN, $WDAY, $CRM, $DATA, $COUP and other are falling by more than 3.0 percent today. This important industry group has been leading the technology space for all of 2019. When a leading sector loses it leadership it could just be rotation into another group or a sign of a topping market.
One stock that has caught my eye in the cloud based software sector is Zendesk Inc (NYSE:ZEN). This stock has been a major winner in 2019, but today it is declining lower by 4.62% to $81.48 a share. The stock is now forming a bearish engulfing candle on the daily chart. It is also now trading below its important 20-day moving average which has been signaling a strong up-trend for the stock until today. Should the stock close down here today it would eclipse the prior two weeks of upside and be a negative reversal day for the stock . At this time, the next important daily chart support level for ZEN would around the $75.00 area. This support level is where the stock pivoted to the upside on March 8, 2019. This will likely be defended again at this level when retested.
Nick Santiago
InTheMoneyStocks
Tandem Diabetes Care Inc $TNDM Retreats, Watch This Trade Level
Tandem Diabetes Care Inc (NASDAQ:TNDM), is a leading manufacturer and developer of medical devices for people with insulin dependent diabetes using its micro-delivery technology. The stock has been pulling back since March 22, 2019 when it traded as high $74.77 a share. Since that recent pivot top, the stock has pulled back and is now trading at $60.33 a share. Traders and investors should note the gap fill window around the $50.00 level on a daily chart. This level should be solid support. There was sideways consolidation around the $50.00 area before the gap higher breakout move in late February 2019 making this a good support level when tested. At this time, the company is scheduled to report earnings on April 25, 2019.
Nick Santiago
InTheMoneyStocks
Crude Oil Likely Topping As It Tags Major Resistance/Retrace Level $USO
Spot crude oil continued its upward swing today, hitting a high of nearly $62.50/bbl. Pro traders have finally stepped up and started to short the commodity based on the daily 200 moving average being tagged and a cross of the 50% Fibonacci retrace from the highs in September 2018 to the lows of December 2018. The weekly chart shows a classic bear formation as well. Expectations are for a near-term pull back on spot crude oil to $55/bbl.
Gareth Soloway
InTheMoneyStocks
Walgreens $WBA Tumbles After Earnings, Here's The Trade
This morning, leading pharmacy and well-being retail store operator, Walgreens Boots Alliance (NYSE:WBA), is declining sharply after reporting earnings. The stock is trading lower by more than 12.0 percent to $55.71 a share. Traders should note that the stock has been in a down-trend since December 2018 trading below all of its major weekly chart moving averages. The next important support level on the chart will be around the $50.00 area. This is where the stock should have some solid support. This support area would be where the stock broke out of a sideways base in September 2013. There is also a major retrace level and other important major moving averages around this key area. This level should be defended by the institutional crowd when retested.
Nicholas Santiago
InTheMoneyStocks
Accenture PLC $ACN Epic Double Top After Epic Run Screams Short
Shares of Accenture PLC (ACN) surged higher this morning, hitting a new all-time high at $177.49. This surge higher is significant as price tagged and briefly crossed an epic double top from September 2017. Today's surge followed a vertical run in the stock of 34% from the December 2018 lows. With multiple overbought indicators flashing sell and an epic double top, pro traders are looking to short Accenture. They expect a classic pull back off double top to a pivot of $165.50 in the next week or two. Further out, a drop to $150 is likely. This is a classic technical trade setup for swing traders.
Gareth Soloway
InTheMoneyStocks
The 10-Year Yield Is Testing A Critical Support Level, Watch Out Below!
Everyone is talking about about the falling yield on the 10-Year U.S. Treasury Note. Today, the 10-year yield is around 2.395%. Yesterday, the 10-year yield hit the 200-week moving average and this looks to be a critical support level. Trader and investors should note that the 10-year U.S. Treasury Note yield is in a confirmed down-trend on the daily chart. The yield has declined below it's 200 and 50-day moving averages. This is a very weak technical formation and generally a sign that bond yields will decline further in the next few months. Should yields break below this important 200- week moving average it will generally signal a move down to the 2.00% area. Should this occur then the fed funds rate (2.25 - 2.50%) would be above the 10-year Treasury Note yield. This is why the Federal Reserve would likely lower the fed funds rate in the second half of 2019.
Nicholas Santiago
InTheMoneyStocks
This Leading Gold Mining Stock $KL Is Finally Pulling Back, Watch This Trade Level
One of the leading gold mining stocks in the past year has been Kirkland Lake Gold Ltd (NYSE:KL). This company is a Canada based mid tier gold mining, development and exploration company. The stock broke out to the upside in December 2018 and traded as high as $36.74 a share on February 28, 2019. The stock has now made some lower highs on the daily chart and is consolidating on its 50-day moving average in a bearish manner. This pattern signals some more weakness ahead. Traders and investors should now look for daily chart support around the $29.00 area. This level is where there is an important retrace area and a rising 20-week moving average. This is usually a solid combination for a solid bounce in the stock.
Nick Santiago
InTheMoneyStocks
Tenneco $TEN Keeps Tumbling, Watch This Trade Level
Tenneco Inc (NYSE:TEN) makes automotive clean air / ride performance products for original equipment manufacturers and aftermarkets. The stock has been in a steady down trend since February 2017. At this time, the stock peaked out at $70.96 a share. Today, TEN stock is trading at $22.61 a share. Traders and investors should note that TEN stock is trading below it's important 200-month moving average. This tells us that the stock is in a very weak technical position on the charts. The next major support level for TEN stock will be around the $20.00 level. This is where the stock broke out in 2010. Often, declining stocks such as this will find excellent chart support around prior break-out levels.
Nick Santiago
InTheMoneyStocks
Caution When A Rush Of IPOs Hit The Market $LEVI
It looks as if we are having a bunch of IPOs scheduled to hit the market very soon. Today, the highly anticipated denim jean manufacturer, Levi Strauss & Co (NYSE:LEVI), became a public traded company. There are several other popular companies that are also looking to come public very soon. Some of these companies include Lyft, Uber, Pinterest, Airbnb and Palantir. Very often the overall stock market will remain strong into these important IPOs. Usually, once these IPOs are released then the markets will usually stage a correction or pullback. Does anyone remember Blackstone Group (NYSE:BX). That stock came public in July 2007 and the market indexes topped out in October 2007. Now please understand, I'm not saying we are going to face the next great recession, but we could be in store for a summertime decline. Either way, when these IPOs come out in droves it is a time for caution soon.
Nick Santiago
InTheMoneyStocks
Earnings Action Today! What This Stock... $FDX
Every trader and investor will be watching the $FDX earnings tonight after the closing bell. It is probably the most important stock in the transport industry group. Remember, $FDX has been making lower highs on the charts since January 2018. Check out the chart below. We will alert members of the Research Center for any stock positions and Options Alerts for the best options positions to take if there is a high probability trade to profit from.
Nick Santiago
InTheMoneyStocks
Utility Stocks Retreat, But The Run Is Not Over Yet
The Utilities Select Sector SPDR Fund (NYSEARCA:XLU) has been on an amazing run higher since December 26, 2018. It should be noted that when interest rates decline the utility stocks will generally move higher and that is exactly what has occurred. On December 26, 2018 the popular XLU traded as low as $50.81 a share before breaking out to new 52 week highs. On March 14, 2019 the XLU traded as high as $58.74 a share before staging a minor pullback. Today, the XLU is trading around the $57.55 level. Traders and investors can easily see that the trend is up on the XLU and that another pullback in the ETF is a likely buying opportunity. At this time, the $55.00 area looks like solid daily chart support. This is where the 50 and 100-day moving averages are currently. This level should be defended when initially tested. The only thing that could disrupt the XLU trend would be higher interest rates and that is highly unlikely to occur at this time.
Nick Santiago
InTheMoneyStocks
Here's The Coca Cola $KO Trade Level Everyone Should Know
Leading beverage company, Coca Cola Co (NYSE:KO), has been under some selling pressure since February 13, 2019. At that time, the stock was trading as high as $49.94 a share before warning about 2019 macroeconomic uncertainty and foreign exchange headwinds. Today, KO stock is trading at $45.60 a share. Traders should note that KO stock is now below its 50 and 200-day moving averages. This puts the stock in a weak technical position on the charts. The next important support level for KO stock will be around the $42.50 area. This is where the stock was defended back in May 2018 and will likely be supported again when retested.
Nick Santiago
InTheMoneyStocks
Ross Stores $ROST Heads South, Watch This Trade Level
Ross Stores Inc (NASDAQ:ROST) is a leading discount retailer in the United States. The stock has been under pressure since reporting earnings on March 5, 2019. Today, the shares are trading lower by $2.20 to $88.48 a share. Trader should note that the stock has now declined below its daily chart 50 and 200-day moving averages. This is usually an indication of further weakness ahead for the stock. Traders should now watch the $82.50 area for important support. This level is where the stock broke out of a down trend in early January. Generally, the institutional money will defend this area when it is retested.
Nicholas Santiago
InTheMoneyStocks
China Yuchai International Ltd $CYD Ran Out Of Gas In March, Watch This Bounce Level
China Yuchai International Ltd (NYSE:CYD) is a leading manufacturer and distributor in diesel and natural gas engines for light, medium and heavy duty engines for trucks, buses and construction equipment. Recently, the stock topped out on March 4, 2019 at $19.95 a share. Since that pivot high the stock has been steadily declining and is currently trading at $16.72 a share. Swing traders should watch the $15.00 area for near term support and a potential bounce in the stock. This support level is where the stock broke out in late January and it should be defended again when initially tested.
Nick Santiago
InTheMoneyStocks
Microsoft Corp $MSFT Nears Major Resistance
Shares of Microsoft Corp (MSFT), one of the biggest companies in the world has soared since late December, 2018. The stock traded as low as $94 and currently sits at $114.00. This is a whopping 20% move. Based on technical levels, Microsoft Corp has upside until it hits $115.25. Once there, it will have filled a major gap and be into the all time high pivot. This signals a likely pull back.
Gareth Soloway
InTheMoneyStocks
Pfizer Inc $PFE Has A Cold, Watch This Trade Level
Since March 1, 2019, leading pharmaceutical giant, Pfizer Inc (NYSE:PFE), has been selling off on the charts. The stock is now testing its 200-day moving average around the $41.50 area. Traders should note that if the stock breaks its recent low at $40.34 it would signal another move lower in the shares. The next important support level for PFE stock will be around the $37.80 level. This area should be defended when it is initially tested as it is the 100-weekly moving average and an area where PFE stock broke out in late July 2018.
Apple Inc $AAPL Breaks Out: Here Is The Next Target
Shares of Apple Inc (AAPL) surged sharply higher today, jumping almost 3.5%. The jump higher broke a major resistance point at $176.50, solidifying a technical breakout. Based on momentum and chart technical analysis, Apple Inc is likely headed to a target of $186.00. Expect little to no resistance until that target is hit.
Gareth Soloway
InTheMoneyStocks
The Retail ETF $XRT Is Nearing Key Support, Will It Hold?
The popular SPDR S&P Retail ETF (NYSEArca:XRT) is pulling back again today. The XRT made a short term top on March 1, 2019 at $46.93 a share. Since that high pivot the XRT has declined lower and is now trading at $43.73 a share. The daily chart still has a lot of support around the $44.00 level which is the where the 50-day moving average resides. Many traders and investors are always watching and following this key moving average as a signal of strength for a stock. Basically, as long as an equity trades above the important 50-day moving average it is viewed as a sign of strength. On the flip side, when that key moving average is broken many traders and investors will view that equity as a sign of weakness. Many investors should also remember whenever an equity rallies for 10 weeks it may just need to pullback a little in order to digest the recent gains. A weekly chart close below the $42.00 level could spell some real trouble for the XRT. This was where the XRT broke out on January 7, 2019.
Nick Santiago
InTheMoneyStocks
Pure Storage $PSTG Is Falling , Watch This Trade Level
Pure Storage Inc (NYSE:PSTG) is a leader and provider in flash based storage systems for large and mid-size organizations. The stock put in a near term high on March 1, 2019 at $21.08 a share after reporting earnings. Since that pivot top in the stock the shares have continued to move lower and is currently trading at $19.25 a share. Part of the recent decline in PSTG stock has been due to a slightly weaker market. Traders and investors should now watch the $17.50 area for important daily chart support. This is where the stock stock made a sideways base for most of January before rallying higher into March. This level should be solid support for a short term swing trade when it trades down there.
Nick Santiago
InTheMoneyStocks
Here's The Tesla $TSLA Level That Every Trader Should Know
Leading EV manufacturer, Tesla Inc (NASDAQ:TSLA), has been one of the most volatile stocks in the market. Almost everyday traders and investors are watching Elon Musk's Twitter page to see what he will say next. The stock is not for the faint of heart as 3 to 5 percent moves are common during any given trading session. Currently, TSLA stock is testing it's 200-week moving average. A failure to hold this key level could send the stock lower. One particular level that looks solid as major support will be the $240.00 area. This is where the stock broke out in January 2017 and it should be defended again when retested.
Nick Santiago
InTheMoneyStocks
HP Inc $HPQ Slammed: Here Is The Quick Swing Trade
Shares of HP Inc (HPQ) tumbled almost 20% on the back of weak sales numbers. The stock is trading at $19.40 on its way to a double bottom on the daily chart. Based on technical analysis, HP Inc will likely cross briefly below $19.00 before staging a technical bounce. This is a quick swing trade, likely playing out in a day or two once the target buy level is achieved. Upside could be as high as $20 but once in-the-money by $0.40, use a trailing stop until $20.00 is hit.
Gareth Soloway
InTheMoneyStocks
Keurig Dr Pepper Inc $KDP Plunges After Earnings, Here's The Trade
This morning, leading beverage manufacturer and distributor, Keurig Dr Pepper Inc (KDP:NYSE), is falling lower by more than 6.0 percent after reporting earnings. The stock cut below its important 50 and 100-day moving averages today. This fall puts the stock in a weak technical position on the charts. Trader and investors should note the next major support level for KDP stock will be around the $22.00 area. This level is where the stock was defended in October 2018. Often, stocks will have excellent support when they retest an important pivot from the past. I will be watching KDP for a long side trade when price gets down to this level.
Nick Santiago
InTheMoneyStocks