InTheMoneyStocks Market Analysis

InTheMoneyStocks

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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
 

InTheMoneyStocks

Experienced member
1,152 17
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
 

InTheMoneyStocks

Experienced member
1,152 17
The Cannabis Stocks Are Dropping, Here's The One Stock I'm Waiting For $CRON

Many of the leading cannabis stocks have been declining recently. Canopy Growth Corp (NYSE:CGC) is the best of breed in the sector. This stock has held up the best in 2019. Tilray Inc (NASDAQ:TLRY) has been the worst performing cannabis stock in 2019. This stock remains in a down trend and there is really no sign of a bottom in sight yet. Aurora Cannabis Inc (NYSE:ACB) has been pulling back since March 19, 2019 and is not really signaling a buy level just yet on the charts.

The one cannabis stock that I would like to own at the right price will be Cronos Group Inc (NASDAQ:CRON). This stock has been falling sharply since February 4, 2019 when it traded as high as $25.10 a share. The stock is currently trading at $14.10 a share. Traders should note that the pattern on the chart is still very weak. CRON stock is trading below its 50-day moving average and that puts it in a weak technical position on the charts. There will be several support levels coming up for the stock in the near term, but the real institutional support does not show up until the stock reaches the 10.00 area. This is a level where I would look to aggressively own the stock. Please understand, it may take a little time for the stock to get down that low price point, but remember, patience pays.




Nick Santiago
InTheMoneyStocks
 

InTheMoneyStocks

Experienced member
1,152 17
General Motors $GM Rebounds Today, But Here's The Real Trade

This morning, all of the major stock indexes are rallying higher on the session. As we all know, the major stock indexes are currently short-term oversold from the recent sell off from a failed trade deal with China. One stock that is participating in the rally today is General Motors Co (NYSE:GM.) This stock has been declining since April 18, 2019 when it traded as high as $40.45 a share. Yesterday, GM stock tagged its important 200-day moving average around the $36.50 area. Today, that important support level is being defended and the stock is rebounding higher trading up to $37.22 a share. While this stock could trade a bit higher this week note that if the current U.S. / China trade deal runs into further headwinds more downside is imminent. Ultimately, I would get interested in GM stock around the $32.00 level. This is a spot on the chart where the stock was defended in January 2019 and will likely be defended again when tested.




Nick Santiago
InTheMoneyStocks
 

InTheMoneyStocks

Experienced member
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$VERI Breakout...


Nice little potential breakout on $VERI Trend line taken out days ago, today a possible close above the daily 200ma.



Gareth Soloway
InTheMoneyStocks
 

InTheMoneyStocks

Experienced member
1,152 17
Volatility $VIX Dips, Is It Setting Up For Another Surge?

The CBOE Volatility Index (VIX) traded down to 11.03 on April 17, 2019. That was the lowest the VIX had declined since August 9th, 2018 when it fell to 10.17. Many traders and investors view the VIX as a fear gauge for the markets. Simply put, when the VIX increases it generally means that the market participants are fearful. On the flip side, when it declines it tells us that the market participants are generally relaxed, calm and often complacent. Recently, the VIX surged to 23.38 on May 9, 2019. Since that high in the VIX it has been declining. Today, the VIX is trading down around the 16.90 level and the markets are all rallying higher. As you can all see, fear in the marketplace has subsided for the time being. Will the VIX surge again? In my humble opinion, it will surge again and it won't be that far away in time. In the past, whenever the VIX has breached the 20.00 level it will usually do it again withing the next couple of months or sooner. So enjoy the relief rally in the markets from the recent oversold condition as it may not last all that much longer.




Nick Santiago
InTheMoneyStocks
 

InTheMoneyStocks

Experienced member
1,152 17
Mylan NV $MYL Technical Signal Says Upside Near Term

Shares of Mylan NV (MYL) have collapsed in the last two weeks, falling from over $28/share to under $20.00/share. This drop is a continuation of the down-trend which started when the stock was $48/share in early 2018. While nasty and ugly, pro traders are starting to take interest after Mylan put in a strong bottoming tail yesterday. Bottoming tails are bullish reversal signals. This means there is likely a near-term pop in the stock. Based on technical charts, Mylan has upside back to $26 before running into major resistance. Pro traders are moving into the stock, looking for this pop.




Gareth Soloway
InTheMoneyStocks
 

InTheMoneyStocks

Experienced member
1,152 17
Alphabet $GOOGL Slides After Huawei Fallout, Here's A Level Everyone Should Know

This morning, the big news was that many leading tech companies would no longer support the Chinese mobile supplier, Huawei Technologies. Alphabet Inc (GOOGL) announced that they are suspending business with Huawei, they will no longer support its Android phone platform. This news has sent GOOGL stock lower by $22.64 (-1.90%) to $1145.98 a share. It should be noted that GOOGL stock has been weak since April 30, 2019 after they reported disappointing earnings. Recently, GOOGL shares were defended on May 15, 2019 at $1121.40 a share. In that trading session the shares surged higher by nearly $57.00, but have been pulling back since that day. Should the recent low in GOOGL ($1121.40) fail to hold as support it would send a major sell signal to the stock. The next major support level will be around the $1045.00 area for the stock. As of now, the stock is still holding firmly above that key level, but it is worth keeping on the radar.



Nicholas Santiago
InTheMoneyStocks
 

InTheMoneyStocks

Experienced member
1,152 17
Semiconductor ETF $SMH Tagging Multi-Factor Support

Shares of the Semiconductor ETF (SMH) are down again today as the trade war is red hot. Trading at $101.50, the SMH is now entering a multi-factor support area. First, the daily 200 moving average is here at $101.50. Next, the 50% Fibonacci retrace level from the December 2018 lows to the recent April 2019 highs is at $100.78. The fact that the Semi's are near-term oversold and hitting these two levels at the same time, gives a high chance of a strong bounce in the coming days. A bounce would likely take the SMH back as high as $110.00.



Gareth Soloway
InTheMoneyStocks
 

InTheMoneyStocks

Experienced member
1,152 17
This Retail Stock $KSS Just Triggered The Mother Of All Head & Shoulder Patterns

This morning, leading retail stock, Kohls Corp (NYSE:KSS), is falling by more than 12.0% after reporting earnings that missed estimates. The stock has been weak since it peaked on April 24, 2019 at $75.80 a share. Today, KSS stock is trading lower by $7.41 to $55.46 a share. So it is easy to see how this stock is already very oversold at this time, but the pattern that is triggering today signals more downside to come. There is a big weekly chart head and shoulders pattern that has developed and is going to possibly trigger by the end of the week. Due to laws of symmetry the pattern suggests a potential decline down to the $35.00 level. Now please understand, these patterns take time to play out. They do not complete their potential declined in a single session, they take time to complete. Traders should also note that any pattern can fail at anytime, so if KSS closes above $60.00 on a weekly chart then this pattern is no longer valid and has failed.




Nicholas Santiago
InTheMoneyStocks
 

InTheMoneyStocks

Experienced member
1,152 17
Buy Alert: Kraft Heinz Co $KHC Bullish Case Ahead Of Earnings

Shares of Kraft Heinz Co (KHC) have been in a spiral lower since 2017. The stock topped out near $100 in January 2017 and has fallen almost non-stop lower. While the chart is nasty, there are signs of life as pro traders start to accumulate. First, the stock now pays a 5% dividend yield. With the 10 year yield trading below 2.50%, this makes for an attractive place to park money. Next, Buffet owns a large stake. Buffet rarely loses. Another big factor is the oversold metrics. Almost every technical signal shows an oversold condition with positive divergences starting to appear. This speaks of a coming move up for the stock. Lastly, investor sentiment is as bearish as ever on Kraft Heinz. When investors expect the absolute worst, it does not take much for the company to showcase some light at the end of the tunnel and see a short covering pop in the stock. With earnings next Thursday, signals point to an up-move coming. Calculations show a possible upside target of $41.00 from its current $32.00 price.




Gareth Soloway
InTheMoneyStocks
 

InTheMoneyStocks

Experienced member
1,152 17
Alibaba Group $BABA Target Swing Buy Level Approaching

Alibaba Group (BABA) shares are in free-fall as the trade war with China escalates. While Alibaba has little direct impact from tariffs, it is all about investor sentiment toward China stocks, and it is not good right now. Having said that, pro traders are taking note of a the massive fall in the stock and a major, multi-factor support level coming up at $155.90. There is a major gap fill here, pivot support and a 61.8% Fibonacci level. With these three technical levels in place at the $155.90, pro traders believe it will see a snap back bounce. They are looking to buy Alibaba as a swing trade there.




Gareth Soloway
InTheMoneyStocks
 

InTheMoneyStocks

Experienced member
1,152 17
#Trump made an error. By showing how much he cares if the markets drop a few 100 points, he handed China a game plan. They play hardball, markets fall and Trump is more likely to give an inch, especially with the elections coming up next yr - Gareth S