InTheMoneyStocks Market Analysis

InTheMoneyStocks

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Bed Bath & Beyond $BBBY Gap Fill Technical Support Nears

Shares of Bed Bath & Beyond (BBBY) have been grinding lower ever since the company surged on better-than-expected earnings. The down-draft has been sector wide as the consumer seems to be shopping less and only online. While Bed Bath & Beyond still had stellar results, it has been caught in general selling pressure. Having said that, there is a major gap fill approaching that is a strong buy swing trade. The level is $12.25 and about $1.25 away from the current price. At this level, Bed Bath & Beyond is expected to bounce sharply higher. I will be looking to buy at the $12.25 level in the coming weeks.




Gareth Soloway
InTheMoneyStocks
 

InTheMoneyStocks

Experienced member
1,167 17
Alphabet $GOOGL Is Breaking Its Recent Low, Here's Where It Goes Next

Tech giant, Alphabet Inc NASDAQ:GOOGL), is now testing and breaking below its May 15th, 2019 low. This low in the stock was extremely important because the stock bottomed at $1121.40 a share and staged a $49.40 reversal closing at $1170.80 that day. The volume in that session was heavy with 2.9 million shares traded. Today, GOOGL stock is trading below that important low and that is a bearish indication for the stock. A daily chart close below the May 15th, 2019 low should ultimately send another sell signal to the stock. The next major support level for GOOGL stock will be around the $1045 level. This is where the stock staged a reversal in December 2018 and should be defended again by the institutional crowd when retested.




Nicholas Santiago
InTheMoneyStocks
 

InTheMoneyStocks

Experienced member
1,167 17
Here's A Leading Biotech Stock That Is Getting Attractive

Most of the leading biotechnology stocks have been very weak over the past couple of months. The SPDR S&P Biotech ETF (NYSEArca:XBI) and iShares Nasdaq Biotechnology ETF (NASDAQ:IBB) have both declined by more than 10.0 percent since early April 2019. Unfortunately for this industry group there looks to be more downside in the cards near term.

One particular leading biotech stock that has been under pressure recently is Amgen Inc (NASDAQ:AMGN). This stock traded as high as $196.87 a share on April 5, 2019. Today, the stock is trading at $168.72 a share, so traders and investors can easily see how this stock has declined so sharply in such a short time span. Shares of AMGN are now trading below their 200-week moving average. This puts the stock in a weak technical position and signals further declines to comes. The stock looks to have a lot around the $160.00 level. This is an area that should be defended when initially tested. It is also a level that was supported in June 2017 which is tells me that this trade area should provide a nice bounce for the stock.




Nicholas Santiago
InTheMoneyStocks
 

InTheMoneyStocks

Experienced member
1,167 17
Gold Just Broke Out, Ominous Signal For Stocks?

Gold futures (GC) have been surging higher over the past three trading sessions. Traders that do not have access to the futures market can track and follow the SPDR Gold Shares (NYSEARCA:GLD). This popular ETF has climbed higher by more than $4.50 since May 21, 2019. The precious metal seems to be catching a serious bid since the stock market selloff has escalated late last week. Surprisingly, today the markets are bouncing higher and gold is still catching a very strong bid with spot gold (GC) up by $12.90 to $1324.00 an ounce . This tells me that investors want the precious metal for security and safety. It also signals to me that they do not really believe that today's stock market bounce is sustainable. Gold is the ultimate investment vehicle in times of fear.

Traders and investor should note that the GLD is getting short term overbought on the daily chart. This tells me that the pattern over the next week or two will be extremely important. Should a bullish pattern form then it could signal a potential move up in the GLD to the $130.00 level and possibly more. Remember this old rule, the best moves come from failed moves. Spot gold and the GLD just broke out of a daily chart downtrend and that is the way the markets talk to us.




Nicholas Santiago
InTheMoneyStocks
 

InTheMoneyStocks

Experienced member
1,167 17
Cruise Line Stocks Sink, Here's Where This Stock $NLCH Is Headed

Today, all of the major cruise line stocks are falling lower on the session. The catalyst for the decline is due to the U.S. unveiling amendments to the Cuban Assets Control Regulations, banning educational and recreational travel. Stocks such as Norwegian Cruise Line Holdings LTD (NYSE:NCLH), Royal Caribbean Cruises LTD (NYSE:RCL) and Carnival Corp (NYSE:CCL) are all trading in negative territory today.

Norwegian Cruise Line Holdings LTD (NYSE:NCLH) is getting hit the worst today trading lower by 4.29% to $51.97 a share. The stock is testing its important 200-day moving average. A weekly close below this key support level would likely signal more downside in the near term. The next major support level for NCLH stock would around the $47.00 area. This level is where the stock broke out in late January 2019. It is also an important retrace level that should be defended by the institutional crowd.




Nicholas Santiago
InTheMoneyStocks
 

InTheMoneyStocks

Experienced member
1,167 17
Ambarella $AMBA Reverses Early Rally, Watch Out!

Last night, leading semiconductor stock, Ambarella Inc (NASDAQ:AMBA), reported earnings that seemed to be celebrated by investors on Wall Street. Unfortunately, the stock has reversed its early pre-market gains. The stock is now flat on the session trading at $39.75 a share. Traders should note that this stock has been weak since May 22, 2019 when news broke that the company could be adversely affected by tariffs and possible blacklisting with one of its largest customers. At this time, this stock looks poised to ultimately trade much lower on the charts. I will be waiting a few days to see how this pattern plays out before buying put options on this stock. The next major support level for AMBA stock will be around the $31.00 level.




Nicholas Santiago
InTheMoneyStocks
 

InTheMoneyStocks

Experienced member
1,167 17
Oil Alert: Major Support Tagged

The commodity oil tagged major support today near $50/bbl. The United States Oil Fund (USO) filled a technical gap as well, giving traders a level to buy off of. Note the chart below.




Gareth Soloway
InTheMoneyStocks
 

InTheMoneyStocks

Experienced member
1,167 17
Keep This Level On The Radar for VMware $VMW

VMware Inc (NYSE:VMW) is a leading cloud computing software stock that has been under pressure recently. The stock topped out on May 16, 2019 at $206.79 a share. Since that high pivot, the stock has declined sharply and is now trading at $168.02 a share. Over the past four trading sessions the stock has been forming a bearish daily chart base above its important 200-day moving average. A weekly close below the 200-day moving average will likely cause another leg lower in the stock. Traders should note that the stock has major support around the $150.00 level. This important support area is a major retrace level and also a level where the stock broke out in February 2019. Very often, stocks will be defended at their prior break-out levels.




Nick Sasntiago
InTheMoneyStocks
 

InTheMoneyStocks

Experienced member
1,167 17
McDonalds $MCD Drops, Here's The Trade Level

Leading restaurant stock, McDonald's Corp (NYSE:MCD), has been a major winner in 2019. Unfortunately, today the stock is selling off sharply trading lower by $3.36 to $202.11 a share. It should be noted that MCD stock still remains in an up-trend and above all of its key moving averages. The stock has very solid daily chart support around the $194.00 level. This is where the stock pivoted on May 2, 2019. Often, when a stock is in this type of a strong up-trend it will be defended by the institutional crowd when the first important support level is tested.




Nicholas Santiago
InTheMoneyStocks
 

InTheMoneyStocks

Experienced member
1,167 17
Strong Short Signal: American Express $AXP

Shares of American Express (AXP) are putting off a multi-factor strong sell signal today. The stock chart started out with a squeeze higher only to reverse back to the lows. This is creating a topping tail on the daily chart that signals a sell. In addition, the American Express chart has a time count which also tells investor of a coming strong pull back. Based on the technical chart, the pull back is likely to hit target of $120 in the coming days. Pro traders are shorting the stock as a quick swing trade as well as buying puts. Note the chart below.




Gareth Soloway
InTheMoneyStocks
 

InTheMoneyStocks

Experienced member
1,167 17
Chart Alert: Double Top Advanced Micro Devices $AMD

While average investors were clamoring to buy shares of Advanced Micro Devices (AMD) over the last few days, pro traders noted a major double top on the chart. This signaled a coming pull back which has already begun. Advanced Micro Devices topped out near $34.25, which matched the high pivot from September 13th, 2018. This was the double top. The stock has already pulled back to $32 and will head to a target of $29.75 before completing its downward near-term move. See the chart below.



Gareth Soloway
InTheMoneyStocks
 

InTheMoneyStocks

Experienced member
1,167 17
Gold Miners $GDX Are Breaking Out And They Have Higher To Go

This morning, all of the leading gold mining stocks are rallying higher to start the day. The highly followed VanEck Vectors Gold Miners ETF (NYSEArca:GDX) is trading up by nearly 2.0% on the session to $23.04 a share. The GDX is trading above its daily chart 50 and 200-day moving averages putting it in a strong technical position on the charts. The next major daily chart resistance level for the GDX will be around the $25.00 level. After that important resistance point the GDX is clear to run up to the $28.00 area. At this time, I'm looking to enter the GDX on the long side, but I'm waiting for a pullback or a consolidation pattern to form before jumping in. Often after a breakout an equity will usually need to digest some of the recent gains. Let's see if we can get that pattern over the next week or so. I will be keeping the GDX on my radar. Some other gold mining stocks that look strong on the charts include Newmont Goldcorp Corp (NYSE:NEM), Kirkland Lake Gold Ltd (NYSE:KL), Agnico Eagle Mines ltd (NYSE:AEM) and Royal Gold Inc (NASDAQ:RGLD).




Nicholas Santiago
InTheMoneyStocks
 

InTheMoneyStocks

Experienced member
1,167 17
This Big Pharma Stock $LLY Is Dropping And Should Fall Further, Here's The Trade

Eli Lilly and Co (NYSE:LLY) is a leading pharmaceutical company that has been under pressure over the past couple of months. In fact, the stock topped on March 26, 2019 at $132.13 a share. Since that high pivot, the stock has declined by 14.0 percent and is currently trading at $112.84 a share. Traders and investors should note that LLY is now trading below its 50 and 200-day moving averages. This weak chart formation will usually signal further downside in the near term. The next key support level for LLY will be around the $105.00 area. This important level was defended in October and December 2018. Often, when a stock trades down to a major support area they will be defended again when initially retested.




Nick Santiago
InTheMoneyStocks