Shares of Sina Corp (SINA) are holding green today after President Trump announced a new round of tariffs on Chinese goods and the Chinese responded with tariffs of their own. Most would expect Chinese companies to drop sharply, but Sina Corp is not. This tells us that the stock is seeing little impact from the latest round of tariffs or the negativity of the tariffs have already been factored in. Examining Sina Corp closer, the stock chart is into major, epic support and likely near/at a bottom near-term. This tells us that the stock could likely bounce sharply higher in the coming weeks. Look for an upside move back towards $80 by year end.
Shares of Celgene Corp (CELG) have a nasty chart and pro traders are alerting investors. The stock price is currently forming a classic bear flag pattern. To make matters worse, the daily 20, 50 and 200 moving averages are just above current price and turning lower. This signals a likely fall on Celgene Corp in the coming weeks to as low as $75.00.
Stich Fix SFIX Gets Ripped, Watch This Swing Trade Level
Stitch Fix Inc (NASDAQ:SFIX) is an online personalized styling service company that has been a major winner in 2018. The stock made a short term top a couple of days ago at $52.44 a share. Since that high pivot, the stock has tumbled by over $12.00 and is currently trading at $40.30 a share. The decline has occurred with higher than normal volume which indicates institutional selling. The daily chart would indicate major support for the stock around the $34.00 area. This important level is where the stock broke out of a sideways base in August and will likely be support when retested. Remember, past break-out levels will often serve as solid support levels when back-tested.
Broadcom $AVGO Upside Target & Short Level Revealed
Shares of chip maker Broadcom (AVGO) are climbing higher again today. They are significantly above their July lows of $198, currently trading at $245.00. Based on technical charting, Broadcom will continue to move higher until it gets to about $265. Once there, a maximum upside level will be tagged and the stock will likely pull back sharply. Investors who are long can remain long until $265. Those looking for shorts be patient until that level.
Shares of Qualcomm (QCOM) have likely topped out in the near-term based on a stock chart showing a major top resistance trend line. Price tagged this line in the last few days after jumping from below $50 to above $75 in just a few months. The chart below showcases this trend line. This is a high reward short trade in the coming days/weeks.
Shares of Nutanix Inc (NTNX) are falling again, now over 30% from the recent highs. The stock should continue to fall until it tags $38.25. This level is major support and will likely see an extended bounce higher.
Crypto-currency Bitcoin $BTC is still stuck in a purgatory of sorts, trading in a range between a down-sloping trend line and an up-sloping trend line, forming a triangle. This can be seen in the chart below. Please be aware that it is imperative Bitcoin holds $6,225. If it breaks, downside could still be $4,900. On the upside, if Bitcoin can break up through $6,650, it could easily trade back to $10,000 within weeks.
Microsoft Corp $MSFT Max Upside Short Level Revealed
Shares of Microsoft Corp (MSFT) continue to climb higher, breaking $115.00 today, a new all-time high. Investors continue to enjoy the move on this old school tech giant. However, after charting the Microsoft chart, it appears the max upside is at $117.25. This means that investors and swing traders can look to accumulate a short position there for a retrace pullback once that max move level is hit. This level comes from a simple trend line, connecting the recent highs from 2018. Simply connect the high from January 2018 to the high of July 2018. Extend that line out and it stretches to $117.25. Because each of those pivots saw a sharp retrace, logic dictates a pull back once it that trend line is hit again. A pull back of at least 10% is expected.
Shares of Exxon Mobil (XOM) are stalling today, just days after hitting a major trend line on the daily chart. This trend line marks a key resistance point for the stock. As long as the stock remains below this trend line, expect weakness and a possible pull back over the coming weeks/months. However, if the stock pushes above this trend line, I expect an easy 10%+ of upside.
F5 Networks $FFIV Falls Sharply, Here Is The Bounce Level
Shares of F5 Networks (FFIV) are seeing a sharp decline today, just 1 day after hitting an all-time high. As the stock falls, pro traders warn investors to stay away from buying F5 until major technical support is tagged. That level is at $182.75, a major pivot point. This is just a swing trade bounce level, not long term investment entry. Keep it on your watch list...
$SBUX is sliding lower today. I will be watching the $55.25 intra-day support level. This is where the stock broke out on September 19th and should be solid if tested later today - Nick S.
This Regional Bank Stock Is Now On My Swing Trading Radar $RF
Recently, many of the leading regional bank stocks have been pulling back and selling off. One particular bank stock that I have been following is Regions Financial Corp (NYSE:RF). This stock just put in a minor top on September 5th, 2018 at $19.99 a share. Today, the stock is trading around the $18.27 level. Please note, the stock is now trading below the 50 and 200-day moving averages which is an indication there should be more downside in the near term. The one level that looks solid for a potential long swing trade is around the $17.00 area. This is where the stock was defended around the mid-July time period and should be supported when retested.
This Airline Stock Is Now On My Radar, Watch This Trade Level
Recently, many of the leading airline stocks have been pulling back. Higher oil prices have certainly hurt the airline stocks since September 21, 2018 when they all made minor tops. Today, crude remains near its 52-week high and most airlines remain under selling pressure.
One particular airline stock that I'm now watching closely is Delta Air Lines Inc (NYSE: DAL). This stock traded as high as $60.23 on September 21, 2018. Since that high pivot in the stock, the share have fallen below their 50 and 200 day moving averages. This is a sign of weakness and usually indicates lower prices ahead. Today, DAL stock is trading lower by $2.34 to $54.25 a share. The next key support area that I see for the stock would be around the $51.00 level. This is where the stock was defended in July and would likely serve as solid support again when retested. Swing traders should keep this level on the radar for along side trade.
Stitch Fix Inc $SFIX Becomes A Buy At This Level...
Shares of Stitch Fix Inc (SFIX) are collapsing over 30% today after earnings disappointed heavily. As the stock collapses, investors and traders are looking for the major buy level. The stock chart signals a major buy when price hits $26.50. This level is revealed by noting a major pivot point and the daily 200 moving average at the $26.50 level. The two factor trade gives swing traders a high percentage chance of success.
Home-Builder Stocks Fall As Rates Rise, But They Will Be Buys Again $PHM
As you all know, the leading home-builder stocks have been steadily declining as rates on the 10-year note continue to rise. Today, yields on the 10-year U.S. Treasury Note are higher by nearly 7.0 basis points to 3.125 percent. This move in rates has pressured the housing related equities.
One housing stock that has now caught my eye is Pulte Group Inc (NYSEHM). This stock has been declining lower since late January 2018 when it traded as high as $35.21 a share. Today, PHM is trading around the $24.00 area, so you can see how much it has fallen already. Traders and investors should now watch the $20.50 level for major chart support. This is where this stock broke out in January 2017 and will likely be defended again when retested.
Whirlpool Corp $WHR Hitting Major Support, Now A Swing Buy Trade
Shares of Whirlpool Corp (WHR) continue to decline but finally the stock chart has hit major support. The $115 level is a major pivot from 2010 with Whirlpool now almost 50% off its 2018 highs. Swing traders should look for a bounce back to $125-$130 in the coming weeks. This is a classic technical setup for investors.
Shares of Home Depot (HD) have collapsed in recent days. In the last month, Home Depot has fallen from $215 to $199. The top was put in, as predicted with hurricane Florence on the east coast. Big money sold into the hurricane hype and smartly so. With it falling so sharply, investors can look to the $197.90 gap fill level for a quick swing trade bounce. Note the chart below.
A Tech Wreck Is Going On, So Look Elsewhere For Opportunities $TNX
This morning, the major stock indexes are all coming under heavy selling pressure. The tech heavy NASDAQ Composite is leading the decline by falling 1.60 percent so far today. While technology stocks have been the sexy group to invest in over the past few years there are other places to look now before the correction is over.
One area that is looking attractive is the U.S. regional bank stocks. Rising rates are certainly going to be a big catalyst to this group. Today, the 10-year U.S. Treasury Note yield is now at 3.19 percent. There is also chatter that the government is looking to break up the large banks. While this is unlikely it could be another positive for the regional bank stocks very soon. Some leading regional bank equities that are on my radar include SunTrust Banks Inc (NYSE:STI), SPDR S&P Regional Banking ETF (NYSE Arca:KRE), Regions Financial Corp (NYSE:RF), and several others.
The NASDAQ 100 (QQQ) is taking a beating as investors exit stocks upon an interest rate surge. The NASDAQ 100 will likely continue to fall until it tags the $175 level. Once there, swing traders can expect a 'buy-the-dip' bounce for a week and likely a $5 point bounce. This is a technical PPT level, taking into account multi-factor signals.
Tesla $TSLA Keeps Driving South, Here's The Technical Trade
Tesla Inc (NASDAQ:TSLA) has been on a roller-coaster ride over the past few months. The electric vehicle (EV) maker peaked out on August 8, 2018 at $387.46 a share. Since that high pivot top the stock has gone through a lot of CEO drama and the shares have come under major distribution.
Today, TSLA stock is trading lower by $7.45 to $254.30 a share. The stock is now testing it's recent double bottom pivot made on September 7, 2018. A close below this key level will tell us that another leg of selling is on its way. One key support area that would interest me would be around the $217.00 level. This is where the stock was defended in January 2017 and likely a level to be supported again when retested.
HM). This stock has been declining lower since late January 2018 when it traded as high as $35.21 a share. Today, PHM is trading around the $24.00 area, so you can see how much it has fallen already. Traders and investors should now watch the $20.50 level for major chart support. This is where this stock broke out in January 2017 and will likely be defended again when retested.
