InTheMoneyStocks Market Analysis

[InTheMoneyStocks]

Movado Group Inc $MOV Gets Slammed After Earnings, Here's The Trade

Movado Group Inc (NYSE:MOV) is a leading designer, marketer and distributor of watches. Today, the stock is declining sharply after reporting earnings. MOV stock is trading lower by more than 14.0 percent to $42.15 a share. Should the stock close down around this level today it would likely signal more downside to come. MOV stock is still trading above its 200-day moving average which is currently at $38.87. Any close below this key support level would indicate a move down into the $34.00 area. This would be a solid support level for MOV stock if tested. Please note, this is where the stock broke out in late March 2018. Traders and investors should expect this level to be defended when reached.

Nicholas Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Box Inc $BOX Got Crushed, Now This Level Is In Play

Yesterday, leading cloud based content management company, Box Inc (NYSE:BOX), sold off by nearly 10.0 percent after reporting earnings. Traders should note that the stock is now trading below its important 50-day moving average. The stock is now testing the pivot low area from August 2, 2018 around the $23.23 level. A daily close below this important support area would signal another decline for the stock. The next key support area for the stock would be around the $21.50 level. This is an area where the stock broke out in April 2018. I will be watching this stock for a long side trade when the shares trade down to this level.

Nicholas Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Seagate Tech $STX Drops After Downgrade, Watch This Trade Level

This morning, leading tech stock, Seagate Technology PLC (NASDAQ:STX), is declining sharply lower after being downgraded. The stock is falling by 9.66 percent to 48.39 a share. Traders should note that STX stock is now trading below its 50 and 200-day moving averages. This formation puts the stock in a weak technical position on the charts. Traders must now look lower for solid support. One area that looks to be a strong potential trade level is around the $43.00 range. This area is where there is a major weekly chart gap fill from early January. Often, the institutional traders will defend a major gap area when filled and tested.

Nicholas Santiago

InTheMoneyStocks

 

[InTheMoneyStocks]

Tesla Inc $TSLA Continues To Fall: Here Are The Targets

Elon Musk has caused an epic shift in the focus of investors and analysts, from the genius of Tesla products to a man filled with ego. That is not good. Investors have seen shares of Tesla Inc (TSLA) fall sharply from a recent high near $390 to a low today near $290. This epic 3 week fall should spook investors as big hedge funds are dumping. Large funds cannot risk their performance on a loony tweet. There is too much money on the line. Based on technical chart analysis, the stock will see continued momentum to the downside to its first support at $273.75, then after a hard bounce, another leg lower to $245.00. I will be patiently waiting there to begin accumulating shares. It is likely the bottom target could be hit by end of year 2018.

Gareth Soloway
InTHeMoeyStocks

 

[InTheMoneyStocks]

Facebook $FB Falls Sharply, Here Is The Obvious Target To Buy

Shares of Facebook (FB) collapsed sharply today after some nasty analyst comments about regulation and growth. For those of you who have been following me, it is no surprise. There were warning signs almost as much as a year ago when big advertisers said they were no longer spending money on the platform. After the earnings drop, I also gave the price target of $160. The stock is headed there and likely within weeks. Look for major support for a swing trade bounce at $160.

Gareth Soloway

InTheMoneyStocks

 

[InTheMoneyStocks]

Bank Stocks Show Relative Strength On Sell Off Day $JPM

This morning, many of the large U.S. bank stocks are holding up well despite the early morning sell-off in the major market indexes. Leading financial giant, JPMorgan Chase & Co (NYSE:JPM), is trading lower by just 0.05 cents today. This stock has recently been consolidating on its daily chart and weekly charts. Generally, when a stock consolidates or forms a sideways base it is looking to move higher in the near future. This is a stock that is now on my radar for a potential long side trade. While the consolidation pattern may not be complete the potential upside in the stock is north of $120.00 a share. Other bank stocks that have similar patterns include Wells Fargo & Co (NYSE:WFC), and Citigroup Inc (NYSE:C), however JPM stock looks the best at this time.

Nicholas Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Major Break To Watch For On J C Penney $JCP

J C Penney (JCP) is likely to name a new CEO soon. Should the name be big and investors gain confidence, look for the stock to surge back to $2.40. That would be an almost 50% move in the stock. To add fuel to the fire for a surge higher, I am watching the stock chart. There is a classic bullish pattern starting to form. Should J C Penney move above $1.80, the breakout will begin. See the chart below for a visual. Please note, any break of the all time low of $1.60 would trigger the stop.

Gareth Soloway
InTheMoneyStocks

 

[InTheMoneyStocks]

$KLAC Is Getting Clocked, Here's My Swing Trade Level

This morning, the leading semiconductor equipment stocks are tumbling lower. Leading stocks such as KLA-Tencor Corp (NASDAQ:KLAC), Applied Materials Inc (NASDAQ:AMAT) and Lam Research Corp (NASDAQ:LRCX) are all trading down by 3.0 percent or more.

The big loser in the industry group is KLA-Tencor Corp (NASDAQ:KLAC). The stock is falling lower by 8.65 percent to $108.56 a share. The stock has very solid daily chart support around the $107.30 level, this area was successfully tested earlier today. Should KLAC stock fail to hold this support area on a daily chart closing basis then it would signal another decline in the near term for the shares. The next key support area for KLAC stock would be around the $103.00 level. This support area was where the stock was defended in late July and will likely be defended again if retested. I will be watching this level closely for a long trade in the next few weeks.

Nicholas Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Major Buy Level On Alphabet Inc $GOOGL Revealed

After major chart analysis on shares of Alphabet Inc (GOOGL), the top pro traders in the expect it to fall sharply to the $1100.00 level before finding major support for a swing trade buy. This level represents a 61.8% Fibonacci retrace of the March to July 2018 move as well as a cross of the daily 200 moving average.

Gareth Soloway
InTheMoneyStocks

 

[InTheMoneyStocks]

Alibaba $BABA Falls Again, Where Is The Bottom?

Recently, the leading Chinese ADR's have come under some severe selling pressure on the back of the U.S. / China trade wars. The important and highly followed Shanghai Index (Chinese stock index) is trading down by more than 18.0 percent this year and still looks to be weak on the charts.

The top Chinese ADR is Alibaba Group Holding Ltd (NYSE:BABA). The stock peaked out on June 5, 2018 at $211.70 a share. Since that high pivot in the Chinese giant the stock has declined by more than $54.00 (-25.6%) a share. Earlier today, Alibaba Chairman Jack Ma announced that he will be stepping down from his post at the company and the stock is sliding again. Many traders are now wondering where the bottom will be for this stock that is often called Amazon of China. Traders and investors should now watch the $153.00 level. This level is where the stock broke out in August 2017. Often, prior breakout levels will serve as excellent support when retested. Please understand, all Chinese ADR's will be vulnerable until the Shanghai Stock Index finds a low on the charts. For this reason, the way that I will likely play this trade level on the long side will be by using call options.

Nicholas Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Price Retrace: This Is Where Apple Inc $AAPL Is Headed

Shares of Apple Inc (AAPL) are tanking again after President Trump tweeted that they need to move production of the iPhone and other products to the United States to avoid steep tariffs. As a chart technician, the stock is making an expect pull back after a monster run from $190 to nearly $230. The retrace is expected to bring Apple Inc back to its up-trend level at $200/share. Once there, Apple becomes a strong buy again.

Gareth Soloway
InTheMoneyStocks

 

[InTheMoneyStocks]

Micron Tech $MU Major Swing Trade Level

Shares of Micron Tech (MU) continue to fall, trading as low as $42.35 on today. The high for 2018 was near $65.00. As this semiconductor falls, investors are searching for a major support level to buy. The level is not far away and will likely be seen within weeks. The master swing trade level is $39.65. Investors should expect a multi-week to month bounce off this level, good for at least 10% in price appreciation.

Gareth Soloway
InTheMoneyStocks

 

[InTheMoneyStocks]

Watch This Leading Chip Stock At This Trade Level $TXN

Texas Instruments Inc (NASDAQ:TXN) is a leading chip stock that has been declining since late January 2018. At that time, the stock traded as high as $120.75 a share. Today, TXN stock is trading at $107.15 a share. Traders and investors should note that the stock is still holding its 50-week moving average around the $107.00 level. A weekly chart close below this key support level would indicate another decline is in store for the shares. The next major support level for TXN will be around the $100.00 area. This is where the stock was defended in April and will be the next major support level for the stock. I will be watching TXN closely at this level for a solid buying opportunity.

Nicholas Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

OverStock.com $OSTK, The Bitcoin Play Is Ready To Bounce

Shares of OverStock.com (OSTK) have fallen from a 52 week high of $90 to a low today of $24.80. It also marks major support on the weekly chart. Namely, the stock has hit former major pivot support at $25 as well as the weekly 200 moving average. Look for a strong bounce higher into the mid-$30s on Overstock.com. This likely will be accompanied by a jump higher in Bitcoin.

Gareth Soloway
InTheMoneyStocks

 

[InTheMoneyStocks]

This Leading Bank Stock Just Broke Below Its 200-Day Moving Average, Here's The Trade

This morning, many of the leading bank stocks are declining in today's trading session. Wells Fargo Co (NYSE:WFC) is a leading financial stock that has caught my eye. The stock is trading lower by $1.29 to $56.09 a share today. It has also broke its important 200-day moving average, which is a negative position for the stock. There are still many support levels still in play for WFC stock, but this sign of weakness should lead to further downside in the coming weeks. Traders and investors should note that the next key support area for WFC stock will around the $52.00 level. This important level was defended in late April 2018 and will likely serve as major support when retested. This is a level that I will be watching closely for a long side trade in this banking giant.

Nicholas Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Bear Flag Breakdown Alert: CSX Corp $CSX

Shares of CSX Corp (CSX) just broke down from a bear flag formation. This signals sharp leg lower on the stock, culminating with a target of $64.50. A bear flag is a classic technical setup and formed following a reversal candle off all-time highs on CSX Corp. The break below the flag pattern triggers the next leg lower. See it in the chart below.

Gareth Soloway
InTheMoneyStocks

 

[InTheMoneyStocks]

Trend On Bitcoin $BTC Is Still Down, But Watch This Level For A Change

Bitcoin is still making lower highs, even there has been slight positives with the cryptocurrency making slightly higher lows. The key is going to be when Bitcoin trades back above $7,000. There is a trend line connecting all the recent highs going back to early 2018. If Bitcoin can bust above that, it will likely take out the high at $7,350 and make a higher high. Once that happens, institutions will start buying heavily and upside could be back above $10,000 within months.

Gareth Soloway
InTheMoneyStocks

 

[InTheMoneyStocks]

Watch This Trade Level For E-Trade $ETFC

Leading online financial services company, ETRADE Financial Corp (NASDAQ:ETFC), has been slumping since early June 2018. At that time, ETFC stock traded as high as $66.46 a share. Since that high pivot, the stock has declined lower, today it trades at $53.46 a share. Traders and investors should note that ETFC stock is now trading below its important 50 and 200-day moving averages. This position on the chart puts the stock in a weak technical position. Traders must now look lower for major chart support. The next key support area will be around the $50.00 level. This is where the stock was defended in February 2018. Often, when a stock back tests a major support level it will be defended again. This level interests me for a long side swing-trade in ETFC stock.

Nicholas Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Do Not Forget

Do not forget, this Friday is options expiration (quadruple witching). Expect lots of rumors and institutional game playing throughout the week. We call it, the #realsharkweek. It will make for some good trading action... be smart and profit from it! - Nick S.

 

[InTheMoneyStocks]

Cracker Barrel Breaks Down After Earnings, Watch This Trade Level $CBRL

Earlier today, Cracker Barrel Old Country Store Inc (NASDAQ:CBRL), reported earnings that were short of analysts expectations. The company also issued downside guidance. The popular restaurant stock is trading lower by 5.63 percent to $142.27 a share. Traders should note that the stock price is now trading below its important 50 and 200-day moving averages. This puts the stock in a weak technical position on the charts. The stock is also falling below its recent weekly chart pivot low from late July which indicates weakness and further downside for the shares. Traders must now watch for support around the $130.00 area. This important support area is where the stock was defended in October 2016. Often, past pivot levels will serve as major support when retested.

Nicholas Santiago
InTheMoneyStocks