InTheMoneyStocks Market Analysis

This Stock Is Dropping $FAST, Know This Support Level

Fastenal Company (NASDAQ:FAST) is leader in wholesale distribution of industrial and construction supplies. Today, the stock is trading lower by 8.10 percent to $50.01 a share. The decline comes after the company reported earnings earlier today. Traders should note that the stock is now trading sharply below its important 50-day moving average. This puts the stock in a weak technical position on the charts. There should still be some support around the 200-day moving average in the near term. Should that level fail to hold as support on a closing basis then the next major support area will be around the $45.00 level. At this time, the $45.00 level will be a very solid area for a potential swing trade.


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Nicholas Santiago
InTheMoneyStocks
 
Facebook $FB Has Upside To This Master Level

Shares of Facebook (FB) continue higher for the second day in a row as Mark Zuckerberg testifies in front of Congress. The Facebook CEO is handling himself well and investors are rewarding him with higher stock prices. Once this testimony is over, shares are likely to continue higher on relief to the $175.00 level. However, once here, the short signals appear heavy. The $175.00 level is a key even number that coincides with the daily 50 moving average, daily 200 moving average and a Fibonacci 50% retrace. The combination of all these levels screams a maximum upside move and a likely great shorting opportunity. The bottom line is, investors can be long Facebook to $175.00 but should then sell or go short for the next leg lower to $133.00.


FB04.11.2018.PNG



Gareth Soloway
InTheMoneyStocks
 
Bristol Myers Squibb $BMY Tests Key Level, Here Is The Play

Bristol Myers Squibb Co (NYSE:BMY) is a leader in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. Today, the stock is trading lower by $2.05 to $58.12 a share. This morning, the price target was lowered by Citigroup (NYSE:C) after meetings with Pfizer Inc (NYSE:pFE) illustrated a lack of interest in a potential merger with Bristol Myers Squibb (NYSE:BMY). The stock is now testing the important $58.00 level. A failure to hold this key support area would signal further weakness in the chart. The next major support level for BMY will be around the $52.00 area, this would be a solid long side trade for BMY stock.


BMY%204.12.18.png



Nicholas Santiago
InTheMoneyStocks
 
On Watch: General Electric $GE Possible Major Breakout

Shares of General Electric (GE) continue to hold inside a tight triangle chart pattern. Note the chart below to see the triangle. This pattern signals a potential breakout on any move above $13.25. The upside target is $15.30 and could happen within days of the breakout. Analysts continue to be overly bearish on General Electric which tells me the stock price has already factored in most, if not all of the bad news. Remember, stock prices adjust quickly to current 'views'. So with a majority of analysts already highly negative, investors have sold the stock to meet those expectations. This puts General Electric in a unique spot to come out with an average quarter next Friday and see a very positive reaction in shares. In addition, the General Electric CEO was on CNBC today talking about how the company has to put up or shut up. In other words, they need to prove they can rock it in the next year, starting with the quarterly report on April 20th, 2018. In my humble opinion, the CEO would not say that unless he knew the quarter was going to be better than expected. I am long the stock and loving the upside potential.


GE04.12.2018.PNG



Gareth Soloway
InTheMoneyStocks
 
Short Trade Alert: Semiconductor ETF Slams Into Resistance

Shares of the semiconductor ETF $SMH slammed into major support today at $105.10. After a solid bounce, the semi's are likely ready to roll over heard and begin their next leg lower. The resistance point is found by noting the neck-tie of the 20 and 50 daily moving averages. This is huge resistance, coupled with a Fibonacci 38.2% retrace from the all-time high to the recent low. Investors can start accumulating short positions on semiconductor stocks or buy the $SOXS as a triple short ETF on the semiconductor sector.


SMH04.12.2018.PNG



Gareth Soloway
InTheMoneyStocks
 
Finisar Corp $FNSR Dumps After U.S. Bans Sales To China's ZTE, Watch This Trade Level

This morning, many of the leading optical device makers are plunging lower on the session. The decline comes after the U.S. Commerce Department banned domestic companies from selling components to Chinese telecom gear maker ZTE. Leading optical device makers such as Finisar Corp (NASDAQ:FNSR), Lumentum Holdings Inc (NASDAQ:LITE), Oclaro Inc (NASDAQ-OCLR) and Acadia Communications (NASDAQ:ACIA) are all under early selling pressure today.

Finisar Corp (NASDAQ-FNSR) has been down trending since March 2017. At that time, FNSR stock traded as high as $35.00 a share. Today, FNSR stock is trading lower by 0.76 to $15.52 a share. Traders should note that the stock should have some very solid support around the $13.75 area. This is where the stock broke out on February 2016. Very often, past breakout levels will be defended when initially tested. Finisar Corp is expected to report earnings on May 1, 2018.


FNSR%204.16.18.png



Nicholas Santiago
InTheMoneyStocks
 
Know This Trade Level For Wells Fargo & Co

Wells Fargo & Co (NYSE:WFC) is a leading bank holding company in the U.S. and other countries. The stock has been under pressure since January 29, 2018 when it traded as high as $66.31 a share. Since that pivot high, the stock has been steadily declining. Today, WFC stock is trading at $50.91 a share. It should be noted that the stock is now trading below its important 50 and 200-day moving averages. This technical chart position usually indicates further weakness in the stock price near term. Traders must now keep an eye on the $48.00 area as the next major support level. This is where the stock broke out in November 2016. Often, prior breakout levels will be defended when initially retested.


WFC%204.17.18.png



Nicholas Santiago
InTheMoneyStocks
 
Valero Energy Corp $VLO Strong Short As Chart Signals Sell Alert

Shares of Valero Energy Corporation (VLO) hit a epic trend line resistance point today at $106.00. With oil closing in on $70.00/bbl, investors should expect a sharp pull back in the refiners on a narrowing crack spread. This trend line alerts to the trigger price and members have acted upon it. Per the chart, expect downside to be $98.00 in the near-term and $70.00 in the long-term. Every metric is signaling a top on the stock. Be ready for the downside.


VLO04.17.18.PNG


Gareth Soloway
InTheMoneyStocks
 
What Would Watson Say After Today's IBM Sell Off?

This morning, leading technology stock International Business Machines (NYSE:IBM) is declining sharply lower after reporting earnings. The stock is trading down by over 7.0 percent to $149.45 a share. The next important support level for IBM stock will be around the double bottom from February 9, 2018. At that time, the stock traded as low as $144.39 a share. Should the stock fail to hold this critical level as support it could signal more selling in the stock. Traders and investors must be very cautious with IBM stock until the charts firm up. Currently, the stock is trading below its important 50 and 200-day moving averages. This formation puts the stock weak technical position on the charts. We can only wonder what Watson would say after today's decline in IBM shares.


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Nicholas Santiago
InTheMoneyStocks
 
Transports Nearing Major Resistance

The transportation ETF $IYT is nearing major resistance. Look for it to stall and begin to drop lower. As a leading indicator, this will likely signal a market drop in the coming week. The level to short is $195.50.


IYT04.18.2018.PNG



Gareth Soloway
InTheMoneyStocks
 
Trade Alert: Short Chevron Corp $CVX

Shares of Chevron Corporation (CVX) continue to surge higher as oil gallops towards $70/bbl. This gives smart investors a great short trade setup on Chevron. The $125.75 level is a major gap fill on the stock chart and oil is set to likely top out when it crosses $70/bbl. The combo of chart resistance on Chevron and a top in oil spell profit for shorts that are initiated on a swing trade basis at $125.75 or above.


CVX04.18.18.PNG



Gareth Soloway
InTheMoneyStocks
 
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