as spring comes and grass is turning green
it time to make some Green
on something Green like SNDL
it time to make some Green
on something Green like SNDL
FJB
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After a slow and somewhat painful Monday, the stock markets burst higher on Tuesday, rallying on impressive upside breadth. With that in mind, let's look at a few top stock trades as we push through the holiday-shortened trading week. ![]()
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Top stock trades for today No. 1: The Ark Innovation Fund![]()
The $ARK Innovation ETF (ARKK.US)$ is clearly trying to find its footing to call a bottom, but the selling in growth stocks has been relentless.
On Monday, I was looking for a potential weekly-up rotation over $97.50, following an inside week last week. Then on Monday, ARKK gave bulls and inside day — opening up the potential for a daily-up rotation over the area near $96.50.
It didn't matter which you chose, with ARKK clearing both levels today.
My preference laid with the first rotation — the weekly-up — because it's more significant in my opinion and it would put ARKK back above the bear-market low from May.
From here, let's see if we can get a tag of $100 and the 21-day moving average. Above these measures, and the $103 to $104 area could be on the table. Above that puts the 50-day in play.![]()
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However, a break of this week's low flashes some rather bright caution signs, in my view.
Top stock trades for today No. 2: Pfizer![]()
$Pfizer (PFE.US)$ gave the robust rotation last week and the subsequent rally to new highs.
This morning it pulled back to its 10-day moving average, which set up the dip-buy opportunity for bulls who were prepared. Bouncing hard off this level now, let's see if shares can get back above $60.![]()
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North of $60 and the highs are back in play at $61.71, followed by $62.75 and then potentially $69 to $70 down the road.![]()
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Top trades for today No. 3: Rite Aid![]()
$Rite Aid (RAD.US)$ has been a dog for most of the year, as it continues to put in a series of lower highs. But the stock may try to end that trend soon.
Shares are erupting over the 10-day, 21-day and 50-day moving averages on the day. However, the stock is running right into the 10-month moving average and the monthly VWAP measure.
If it can clear this area, the November high is on the table at $15.65. If we get a monthly-up rotation in Rite Aid (and thus, ending the series of lower highs), it could open the door up to $16.50 and the 200-day moving average.
On the downside, though, let's see if the 50-day moving average holds as support until some of Rite Aid's shorter-term moving averages can catch up.![]()
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Source: InvestorPlace
The $ARK Innovation ETF (ARKK.US)$ is clearly trying to find its footing to call a bottom, but the selling in growth stocks has been relentless.
On Monday, I was looking for a potential weekly-up rotation over $97.50, following an inside week last week. Then on Monday, ARKK gave bulls and inside day — opening up the potential for a daily-up rotation over the area near $96.50.
It didn't matter which you chose, with ARKK clearing both levels today.
My preference laid with the first rotation — the weekly-up — because it's more significant in my opinion and it would put ARKK back above the bear-market low from May.
From here, let's see if we can get a tag of $100 and the 21-day moving average. Above these measures, and the $103 to $104 area could be on the table. Above that puts the 50-day in play.
However, a break of this week's low flashes some rather bright caution signs, in my view.
$Pfizer (PFE.US)$ gave the robust rotation last week and the subsequent rally to new highs.
This morning it pulled back to its 10-day moving average, which set up the dip-buy opportunity for bulls who were prepared. Bouncing hard off this level now, let's see if shares can get back above $60.
North of $60 and the highs are back in play at $61.71, followed by $62.75 and then potentially $69 to $70 down the road.
$Rite Aid (RAD.US)$ has been a dog for most of the year, as it continues to put in a series of lower highs. But the stock may try to end that trend soon.
Shares are erupting over the 10-day, 21-day and 50-day moving averages on the day. However, the stock is running right into the 10-month moving average and the monthly VWAP measure.
If it can clear this area, the November high is on the table at $15.65. If we get a monthly-up rotation in Rite Aid (and thus, ending the series of lower highs), it could open the door up to $16.50 and the 200-day moving average.
On the downside, though, let's see if the 50-day moving average holds as support until some of Rite Aid's shorter-term moving averages can catch up.
Source: InvestorPlace
![3 top stock trades for Wednesday: ARKK, PFE, RAD](https://ussnsimg.moomoo.com/3291238040194578032.png/thumb)
![3 top stock trades for Wednesday: ARKK, PFE, RAD](https://ussnsimg.moomoo.com/5221467759712532246.png/thumb)
![3 top stock trades for Wednesday: ARKK, PFE, RAD](https://ussnsimg.moomoo.com/1475502348436825135.png/thumb)
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