weebearbear
liked
Since interest rate hikes are inevitable, I would adapt to it by buying bank stocks as they will generally benefit from the rate increase. I am buying $JPMorgan (JPM.US)$ in anticipation that they will announce spectacular results this week on 14 Jan, sell after the earnings release, and switch to $Goldman Sachs (GS.US)$ in anticipation of better than expected results on 18 Jan. Hope these two short term trades will turn out as planned and that there will not be any nasty surprise...
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weebearbear
liked and commented on
As the omicron variant continues to spread, the stock market is having trouble pushing higher. The headwinds are building, but the is weathering the storm. With that in mind, let's look at a few top stock trades as we kick off the holiday-shortened trading week.
Top stock trades for today No. 1: Tesla
$Tesla (TSLA.US)$ stock could be shaping up as an opportunity. Shares traded lower yesterday, which is no surprise for anyone that's bothered to look at growth stocks lately.
However, the stock has finally filled that gap down at $910 and retested the prior highs at $900. Furthermore, we also have the 21-week moving average and 200-unit moving average on the four-hour chart nearby as well.
A bounce from this area could ignite a move back $950 to $970 area, where Tesla stock finds its declining short-term daily moving averages. Above that, and we could be talking about $1,000 again.
Top stock trades for today No. 2: Nike
$Nike (NKE.US)$ reported earnings after the close. Recently, though, the stock hasn't been trading that well, down in six-straight sessions. Will earnings be enough?
On the downside, let's see if shares tag the 200-day and 50-week moving averages. That could give bulls a dip-buying opportunity. If Nike pushes lower, it could put that $145 to $148 zone in play.
This was support back in October, as well as the prior breakout zone this summer. A break of this level will be a bad look for Nike.
On the upside, however, I'd love to see Nike get back above the 21-day and 50-day moving averages. That will help shape up the trend and put the highs back in play.
That seems like a tough ask, but really it would just erase the losses over the prior six sessions.
Top stock trades for today No. 3: Micron
Like Nike, $Micron Technology (MU.US)$ also reported earnings after the close. Unlike Nike, though, Micron hasn't been trading all that bad.
Shares are consolidating along the 50-week moving average while holding the 200-day.
If the stock moves lower and below these measures, let's see if the 50-day moving average is support. Otherwise, we'll need to see how it handles the $75 to $77 area.
On the upside, however, I want to see Micron power through the November high at $87.71. That would give bulls a monthly-up rotation. Above $89.05, and we can start talking about $95 again, then, of course, the obvious $100 level.
Top trades for today No. 4: Canopy Growth
Last but not least we have $Canopy Growth (CGC.US)$. The stock is hitting multi-year lows.
Here is a weekly chart, highlighting the steep decline this one has been in. From the peak earlier this year, Canopy Growth has declined in 10-straight months and is working on its 11th-straight monthly decline. That's incredibly painful!
However, CGC stock is now undercutting the 2020 low and doing so with some pretty big divergence on the RSI reading.
In turn, let's see if Canopy Growth can reclaim $9, letting bulls initiate a long position against this week's low.
That could quickly put $10-plus in play, followed by the declining 8- and 10-day moving averages. Above that, and the 21-week moving average is in play, which was resistance earlier this quarter near $15.
Source: InvestorPlace
Top stock trades for today No. 1: Tesla
$Tesla (TSLA.US)$ stock could be shaping up as an opportunity. Shares traded lower yesterday, which is no surprise for anyone that's bothered to look at growth stocks lately.
However, the stock has finally filled that gap down at $910 and retested the prior highs at $900. Furthermore, we also have the 21-week moving average and 200-unit moving average on the four-hour chart nearby as well.
A bounce from this area could ignite a move back $950 to $970 area, where Tesla stock finds its declining short-term daily moving averages. Above that, and we could be talking about $1,000 again.
Top stock trades for today No. 2: Nike
$Nike (NKE.US)$ reported earnings after the close. Recently, though, the stock hasn't been trading that well, down in six-straight sessions. Will earnings be enough?
On the downside, let's see if shares tag the 200-day and 50-week moving averages. That could give bulls a dip-buying opportunity. If Nike pushes lower, it could put that $145 to $148 zone in play.
This was support back in October, as well as the prior breakout zone this summer. A break of this level will be a bad look for Nike.
On the upside, however, I'd love to see Nike get back above the 21-day and 50-day moving averages. That will help shape up the trend and put the highs back in play.
That seems like a tough ask, but really it would just erase the losses over the prior six sessions.
Top stock trades for today No. 3: Micron
Like Nike, $Micron Technology (MU.US)$ also reported earnings after the close. Unlike Nike, though, Micron hasn't been trading all that bad.
Shares are consolidating along the 50-week moving average while holding the 200-day.
If the stock moves lower and below these measures, let's see if the 50-day moving average is support. Otherwise, we'll need to see how it handles the $75 to $77 area.
On the upside, however, I want to see Micron power through the November high at $87.71. That would give bulls a monthly-up rotation. Above $89.05, and we can start talking about $95 again, then, of course, the obvious $100 level.
Top trades for today No. 4: Canopy Growth
Last but not least we have $Canopy Growth (CGC.US)$. The stock is hitting multi-year lows.
Here is a weekly chart, highlighting the steep decline this one has been in. From the peak earlier this year, Canopy Growth has declined in 10-straight months and is working on its 11th-straight monthly decline. That's incredibly painful!
However, CGC stock is now undercutting the 2020 low and doing so with some pretty big divergence on the RSI reading.
In turn, let's see if Canopy Growth can reclaim $9, letting bulls initiate a long position against this week's low.
That could quickly put $10-plus in play, followed by the declining 8- and 10-day moving averages. Above that, and the 21-week moving average is in play, which was resistance earlier this quarter near $15.
Source: InvestorPlace
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weebearbear
liked
$Tesla (TSLA.US)$ is seeing the highest interest on the forum with 598 mentions at press time, followed by $Apple (AAPL.US)$ with 288 mentions, data from swaggy stocks showed.
The following tickers are the top trending stocks mentioned by the polular sub-reddit, WallStreetBets, over the last 24 hours. Let's check it out.
Source: MT Newswires
The following tickers are the top trending stocks mentioned by the polular sub-reddit, WallStreetBets, over the last 24 hours. Let's check it out.
Source: MT Newswires
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weebearbear
liked
Seems it's time to get some SE $Sea (SE.US)$ , baba said SE Asia will be their main strategy for growth due to possible booming economy in that region.
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