InTheMoneyStocks Market Analysis

[InTheMoneyStocks]

Three Reasons Why Bitcoin Could Be Here To Stay

As you all know, crypto-currencies have been one of the hottest topics around these days. Even the J.P. Morgan Chase (NYSE:JPM) CEO, Jamie Dimon, has addressed it on numerous occasions in the past several months. The price of Bitcoin and other crypto-currencies have gained market share in the past several years. While many people call it a bubble and a fad it has weathered several storms and is now even making me a believer that it could be here to stay. Investors and users in crypto-currencies should note that they will be very volatile as they become more mainstream . It is basically a growing pain for this new technology and almost every new idea will go through big ups and downs in its infancy. Here are three reasons why crypto-currencies could be here for the foreseeable future.

1. Distrust in governments. Many people around the world are losing their trust in governments. Just look at what has happened around the world in Syria, Venezuela, Greece, Cyprus, Libya, Zimbabwe and many others nations. Even in the United States there is more division and distrust between the citizens and politicians than most can remember. This distrust will only continue over the years to come.

2. Bitcoin and other crypto-currencies use blockchain technology. This technology is a basically a digitized public ledger of all crypto-currency transactions. It is important to understand that Bitcoin isn’t regulated by a central bank or any government authority thus eliminating a need for a middleman or third party to process trade or payments. The completed transaction is publicly recorded into blocks and eventually into the blockchain. It is then verified and relayed by other Bitcoin users. The bottom line, people are tired of paying a middleman for there transactions and this efficiently eliminates the middleman. This is why the large banks are not favoring Bitcoin and other crypto-currencies.

3. It is simple to trade peer to peer. You can trade or exchange with anyone around the world in just minutes. Companies are also starting to embrace Bitcoin and other crypto-currencies because they will no longer have to pay the credit card companies a transaction fee which is usually between 3 to 5 percent of the transaction. Again, the middleman is eliminated.

Nicholas Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Adobe Flips Like An Acrobat

Leading software giant Adobe Systems Inc(NASDAQ:ADBE) is coming under heavy selling pressure since the opening bell. Earlier today, ADBE stock was downgraded to a Hold from Buy at Deutsche Bank. The drop in the stock is now about 2.80 percent. Traders and investors should note that this coming Friday is options expiration for the month of October and many stocks will get hit and benefit by countless upgrades and downgrades that will occur this week. Unfortunately, ADBE stock was downgraded today and shareholders are feeling the pain of the decline. Traders and investors should now watch for daily chart support in ADBE around the $146.85 level. Please remember, daily chart support level are usually good for three to five trading days.

Nicholas Santiago

InTheMoneyStocks

 

[InTheMoneyStocks]

AT&T Inc (NYSE:T) Still Has One More Leg Lower

Traders and investors can easily see that telecom giant AT&T Inc (NYSE:T) has been under selling pressure recently. This stock has been falling since it peaked out in January 2017 at $43.03 a share. Today, T stock price is trading around $36.00 a share. The pattern on the charts still remains weak as T stock trades below its 50 and 200-day moving averages. Traders must now watch the $34.00 area as the next major support level. This is where the stock was defended in January 2016, and it will often be supported when retested. Please note, AT&T Inc (NYSE:T) will report earnings on October 24, 2017.

Nicholas Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

$QCOM Gives Investors Great Buying Opportunity Right Here...

QUALCOMM, Inc. (NASDAQ:QCOM) has a classic bullish retrace setup that gets me excited to buy. The stock has made multiple higher lows and higher highs in recent weeks signaling a near-term up-trend. Following the latest move higher, the stock retraced to the major support of the daily 20 and 50 moving averages. This huge support level confirms the buying opportunity. The only reason QUALCOMM is not at its 52 week highs is because the company is in a legal battle with Apple (AAPL). Eventually, there will be a settlement. I believe when that happens this is a $60.00 stock. This chart setup is very bullish.

Gareth Soloway
InTheMoneyStocks

 

[InTheMoneyStocks]

Skyworks Solutions Falling Out Of The Sky

This morning, leading semiconductor stock, Skyworks Solutions Inc (NASDAQ:SWKS), is declining lower by over 4.0 percent to $102.96 a share. It seems that this equity is declining in sympathy to negative news on Apple Inc (NASDAQ:AAPL). Today, there is a rumor that iPhone 8 sales are weak and all of the stocks that are part of the Apple ecosystem are falling lower in today's session. SWKS is now trading below its important 50 and 200-day moving averages. The next major daily chart support level for SWKS stock will be around the 200-day moving average which is at $99.87. Traders should note that SWKS is scheduled to report earnings on November 6, 2017.

Nicholas Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Believe It Or Not, Procter & Gamble (NYSEG) Is Looking Attractive

Believe it or not, leading consumer staples stock Procter & Gamble Co (NYSEG) is starting to look attractive as a trade. This stock has been declining sharply since topping out on September 20th, 2017 at $94.67 a share. Today, PG stock is declining lower by $1.11 to $87.14 a share. Traders and investors should now watch the $86.50 level for support on the daily chart. This level is where the stock was defended in July 2017. Often, when a stock retests a major sponsorship area if will react positively. Short term swing traders should look for a bounce around this level.

Nicholas Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Russell 2000 $IWM Chart Analysis: Target Price Revealed

The Russell 2000 has been in its happy place as tax cuts appear to be closer. From January 2017 to August 2017, the Russell 2000 had been in a slow grind-up range. It finally broke out in late August when tax cuts began to look more likely. The move took the IWM (Russell ETF) from $135 to over $150 in just over a month. This broke the upper range of the channel. As the Russell (IWM) now stalls, it will likely see a pull back in the coming days/weeks to the upper range of that channel, which is now support. That is around the $146.70 price point. This will be the first major support and big test of any pull back in the Russell 2000 (IWM). It is important to note that the Russell has been a leader for the stock market and continues to be. If the Russell starts to fall, the S&P will likely follow within a day or two.

Gareth Soloway
InTheMoneyStocks

 

[InTheMoneyStocks]

This Chart Is Signaling More Downside For Arconic Inc

Yesterday, leading lightweight metals engineering and manufacturing firm, Arconic Inc (NYSE:ARNC), dropped sharply after reporting earnings. The current daily chart pattern is signaling further downside in the near term. This stock is a spin-off from the old Alcoa and does not look particularly healthy at the moment. Traders and investors should note that yesterday's decline wiped out over one month of gains in a single trading session. The next major support level for ARNC stock will now be down around the $22.00 area. This level was defended in June 2017 and should serve as support again when retested.

Nicholas Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Shutterfly, Inc. (NASDAQ:SFLY) Just Got Swatted

Today, leading online manufacturer and retailer of photo based personalized products and services, Shutterfly, Inc (NASDAQ:SFLY) is declining sharply on the charts. The fall in SFLY stock comes after a poor reaction to earnings. The stock is now trading below its 50 and 200-day moving averages putting it in a weak technical position. Traders and investors should now expect a lower stock price in the coming weeks. The next major support level on the charts will be around the $39.00 level. This level is where the stock was defended in January 2016 before breaking out to new 52 week highs. Often, when stocks back test past support levels they will be defended by the institutional crowd.

Nicholas Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

This Bullish Setup On $M Yields Major Breakout Potential...

Just two weeks ago I alerted members to grab some Macy's Inc (NYSE:M) calls because of a bullish bottoming tail and reversal signal. Macy's was trading under $20.00 at the time. After a surge to almost $22.00, we sold our calls for over a 60% profit. I sold because Macy's Inc had pushed into a major trend line of resistance and I figured it would pull back. Taking profits was the smart thing to do. That is exactly what has happened. Shares of Macy's Inc have consolidated slowly for the last week, inching down slightly. At this point, Macy's Inc has formed a bull flag pattern. The next move up will likely take out the resistance trend line seen in the chart below, blasting Macy's Inc sharply higher. I am going to be looking to buy some calls again, expecting a stock move to maybe as high as $24.00 in the coming week or two.

Gareth Soloway
InTheMoneyStocks

 

[InTheMoneyStocks]

This Las Vegas Sands Level Is A Good Bet

This morning, leading casino and resort stock, Las Vegas Sands Corp (NYSE:LVS), is declining lower by 0.79 to $60.93 a share. Last week, the casino giant reported earnings and the stock declined lower on the news. Traders should note that LVS stock is now trading below the important 50-day moving average. Anytime a stock trades below its 50-day moving average it is often viewed as a weak technical position for the equity. Traders must now watch the $56.75 level for major chart support. This is where the stock was defended in May 2017 before rallying to new highs. Often, when stocks backtest a major support level it will serve as important support again when retested. It looks like a good bet to own LVS stock around the $56.75 area.

Nicholas Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Archer Daniels Midland Co (NYSE:ADM) Fails To Sprout After Earnings

This morning, leading agriculture stock, Archer Daniels Midland Co (NYSE:ADM), is declining sharply lower after posting earnings below analysts estimates. ADM stock is trading down by more than 5.0 percent to $40.55 a share. Traders and investors should now note the bearish monthly chart pattern that has formed. This formation indicates lower stock prices ahead for ADM shares. The next major support level for this stock is around the $36.00 area. This level was where the stock surged higher in April 2016. This chart level should be supported by the institutional crown when it is retested. Needless to say, further downside should be in the cards for ADM stock in the coming weeks.

Nicholas Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Alaska Air Is Coming In For A Hard Landing

Leading airline stock Alaska Air Group, Inc. (NYSE:ALK) has been under selling pressure for most of 2017. This stock topped out on March 1, 2017 at $101.43 a share. Since that peak in the stock price shares have fallen by nearly 36.0 percent. Today, ALK stock is trading at $64.82 a share. Traders and investors should note that ALK stock is trading below its 200 week moving average. This is a very negative chart formation that ultimately indicates lower stock prices ahead.

So where is the next major support level for ALK stock? It looks as if this stock was defended by the institutional money back in July 2016. This tells me that the institutional crowd will likely defend this stock again when it trades down to the $56.50 area which was the July 2016 low. I will be a buyer of ALK shares at this level with a weekly chart stop loss below $53.00. This should serve as solid risk/reward trade setup. The first upside target would be the $61.00 level. See you on the charts!

Nicholas Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Tesla Drives Off The Road After Earnings

This morning, leading EV auto manufacturer, Tesla, Inc. (NASDAQ:TSLA), is coming under heavy selling pressure after reporting earnings. The stock is falling lower by $24.51 to $296.65 a share. Today's drop is almost an eight percent decline in the share price. Many traders and investors are now wondering where the next major support level will be for the highly popular EV car maker.

Right off the bat, TSLA stock is now trading below its daily chart 200-day moving average. This is a negative chart position and should signal further downside in the near term. The next major support level for TSLA stock will be around the $275.00 level. This will be the back-test area from a prior breakout in March 2017. Traders should always remember that past breakout levels are usually strong support when they are revisited. Keep this stock on the radar as I will be trading it when it hits my level.

Nicholas Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Checkout This Trade Setup On $GOOGL...

Just a little over a week ago, Alphabet Inc (NASDAQ:GOOGL) reported solid earnings. The stock jumped sharply higher on those results, trading as high as $1,063.62 in early trading. However, Alphabet Inc quickly reversed, closing at around $1,031.00. The reversal put in a topping tail on the daily chart. In the days following that major up-move and reversal, the stock has inched higher. This inching higher, forms what is known in the technical world as a bearish, inside-bar pattern. Coupled with the topping tail on the daily stock chart, it is a strong sell signal. Ultimately, investors should be expecting a sell-off to take place, pushing Alphabet Inc to below $1,000.00 in the coming weeks. The gap fill from before earnings is my target at $990.00. In addition, what makes this a nice trade is that neatly defined stop. Any daily close above the topping tail high at $1,062.63, stops you out. This means the risk is about $17 while the reward is about $56. Solid risk/reward in my book.

Gareth Soloway
InTheMoneyStocks

 

[InTheMoneyStocks]

Airline Stocks Struggle To Get Lift Off, Watch This Level

Since this earnings season has begun in October the airline stocks have struggled to move higher. Leading airlines stock such as Delta Air Lines, Inc. (NYSEAL),American Airlines Group Inc. (NYSE:AAL), Southwest Airlines Co. (NYSE:LUV) and United Continental Holdings, Inc. (NYSE:UAL) have been under pressure recently. Higher fuel prices are certainly starting to weigh on these leading transportation stocks and that has not helped the shares.

American Airlines Group Inc. (NYSE:AAL) is forming a daily chart bearish consolidation pattern. This pattern signals potential downside in the near term. Traders should note that the longer the bearish sideways pattern remains the lower the price of AAL stock can go. Today, AAL stock is trading lower by $0.62 to $50.04 a share. The airline giant should have major chart support around the $43.50 area. This support level is where the stock was defended in May and September 2017, so until that level fails it looks to be major chart support for AAL stock.

Nicholas Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Johnson Controls International plc (NYSE:JCI) Plunges After Earnings, Know This Trade

Today, leading global diversified technology and multi industrial company, Johnson Controls International plc (NYSE:JCI), is declining lower by nearly 6.0 percent. The fall in JCI stock comes after the company reported earnings and guided FY18 below consensus. These days if a company's guidance is poor the stock will usually suffer.

JCI stock is now trading below its important 200 and 50-day moving averages. This puts the stock in a weak technical chart position. Often when a stock sells off with this pattern and volume it will signal further downside is in the cards before a bottom can be found. Traders should now watch the $34.50 area as the next major support level. This institutional support area is where the stock broke out in April 2016. Generally, when stocks test past breakout levels they will initially be supported by the institutional crowd.

Nicholas Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Norwegian Cruise Line Sinks After Weak Guidance

Today, leading cruise line operator, Norwegian Cruise Line Holdings Ltd (NASDAQ:NCLH), is falling after reporting earnings. NCLH stock is trading lower by nearly 3.0 percent on the back of weaker guidance. Other leading cruise line stocks such as Royal Caribbean Cruises Ltd. (NYSE:RCL) and Carnival Corporation (NYSE:CCL) are also declining in sympathy to Norwegian Cruise Line Holdings shares. Traders must now notice the bearish consolidation pattern on NCLH stock chart. This pattern signals a decline down to the $48.50 area. This level should be solid support for a bounce in the stock when it tests that level.

Nicholas Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Delta Air Lines, Inc. (NYSEAL) Flying Under The Radar

Leading airline stock, Delta Air Lines, Inc. (NYSE: DAL), has been pulling back since mid-October. At that time, DAL stock traded as high as $54.00 a share. Today, DAL stock is trading around $49.00 a share. The stock is now trading below the important 50 and 200-day moving averages. This tells me that the stock is in a weak technical chart position. Traders must now look lower for major chart support.

One lower level that catches my eye is the $45.50 area. This level is where the stock was defended in early September and will most likely be defended again when retested. Traders can look to buy DAL stock around the $45.50 level. It will also be important to place a stop loss under the $44.00 level on a weekly chart close. This trade setup should present a solid risk/reward opportunity with upside around the $56.00 area.

Nicholas Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Does This Stock Chart Predict Trouble For $WMT Earnings, See It Here...

Shares of Wal-Mart Stores Inc (NYSE:WMT) have been on a rampage of late. Since early October, the retailer has seen their stock price jump from the $77 range to a 52 week high of $91.98 on Monday, November 14th, 2017. This surge comes with almost all other retailers collapsing lower. Many retailers like Macy's and J C Penny are down more than 50% in recent months. So is this stock price surge for real? The stock chart says 'NO'. While Wal-Mart Stores Inc tagged a new 52 week high on Monday, it reversed from those highs and closed at the lows. This formed a classic extreme bearish topping tail. Topping tails are clear top signals and signal downside. This signal coupled with many other overbought indicators and a tough retail environment tell me this will likely trade lower on earnings. Earnings are set to be reported on Thursday morning. Expectations are for $0.99 per share on $121 billion in sales.

Gareth Soloway
InTheMoneyStocks