InTheMoneyStocks Market Analysis

[InTheMoneyStocks]

Here's The Tesla $TSLA Level That Every Trader Should Know

Leading EV manufacturer, Tesla Inc (NASDAQ:TSLA), has been one of the most volatile stocks in the market. Almost everyday traders and investors are watching Elon Musk's Twitter page to see what he will say next. The stock is not for the faint of heart as 3 to 5 percent moves are common during any given trading session. Currently, TSLA stock is testing it's 200-week moving average. A failure to hold this key level could send the stock lower. One particular level that looks solid as major support will be the $240.00 area. This is where the stock broke out in January 2017 and it should be defended again when retested.

Nick Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Pure Storage $PSTG Is Falling , Watch This Trade Level

Pure Storage Inc (NYSE😛STG) is a leader and provider in flash based storage systems for large and mid-size organizations. The stock put in a near term high on March 1, 2019 at $21.08 a share after reporting earnings. Since that pivot top in the stock the shares have continued to move lower and is currently trading at $19.25 a share. Part of the recent decline in PSTG stock has been due to a slightly weaker market. Traders and investors should now watch the $17.50 area for important daily chart support. This is where the stock stock made a sideways base for most of January before rallying higher into March. This level should be solid support for a short term swing trade when it trades down there.

Nick Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

The Retail ETF $XRT Is Nearing Key Support, Will It Hold?

The popular SPDR S&P Retail ETF (NYSEArca:XRT) is pulling back again today. The XRT made a short term top on March 1, 2019 at $46.93 a share. Since that high pivot the XRT has declined lower and is now trading at $43.73 a share. The daily chart still has a lot of support around the $44.00 level which is the where the 50-day moving average resides. Many traders and investors are always watching and following this key moving average as a signal of strength for a stock. Basically, as long as an equity trades above the important 50-day moving average it is viewed as a sign of strength. On the flip side, when that key moving average is broken many traders and investors will view that equity as a sign of weakness. Many investors should also remember whenever an equity rallies for 10 weeks it may just need to pullback a little in order to digest the recent gains. A weekly chart close below the $42.00 level could spell some real trouble for the XRT. This was where the XRT broke out on January 7, 2019.

Nick Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Apple Inc $AAPL Breaks Out: Here Is The Next Target

Shares of Apple Inc (AAPL) surged sharply higher today, jumping almost 3.5%. The jump higher broke a major resistance point at $176.50, solidifying a technical breakout. Based on momentum and chart technical analysis, Apple Inc is likely headed to a target of $186.00. Expect little to no resistance until that target is hit.

Gareth Soloway
InTheMoneyStocks

 

[InTheMoneyStocks]

Pfizer Inc $PFE Has A Cold, Watch This Trade Level

Since March 1, 2019, leading pharmaceutical giant, Pfizer Inc (NYSE😛FE), has been selling off on the charts. The stock is now testing its 200-day moving average around the $41.50 area. Traders should note that if the stock breaks its recent low at $40.34 it would signal another move lower in the shares. The next important support level for PFE stock will be around the $37.80 level. This area should be defended when it is initially tested as it is the 100-weekly moving average and an area where PFE stock broke out in late July 2018.

Nick Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Microsoft Corp $MSFT Nears Major Resistance

Shares of Microsoft Corp (MSFT), one of the biggest companies in the world has soared since late December, 2018. The stock traded as low as $94 and currently sits at $114.00. This is a whopping 20% move. Based on technical levels, Microsoft Corp has upside until it hits $115.25. Once there, it will have filled a major gap and be into the all time high pivot. This signals a likely pull back.

Gareth Soloway
InTheMoneyStocks

 

[InTheMoneyStocks]

China Yuchai International Ltd $CYD Ran Out Of Gas In March, Watch This Bounce Level

China Yuchai International Ltd (NYSE:CYD) is a leading manufacturer and distributor in diesel and natural gas engines for light, medium and heavy duty engines for trucks, buses and construction equipment. Recently, the stock topped out on March 4, 2019 at $19.95 a share. Since that pivot high the stock has been steadily declining and is currently trading at $16.72 a share. Swing traders should watch the $15.00 area for near term support and a potential bounce in the stock. This support level is where the stock broke out in late January and it should be defended again when initially tested.

Nick Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Ross Stores $ROST Heads South, Watch This Trade Level

Ross Stores Inc (NASDAQ:ROST) is a leading discount retailer in the United States. The stock has been under pressure since reporting earnings on March 5, 2019. Today, the shares are trading lower by $2.20 to $88.48 a share. Trader should note that the stock has now declined below its daily chart 50 and 200-day moving averages. This is usually an indication of further weakness ahead for the stock. Traders should now watch the $82.50 area for important support. This level is where the stock broke out of a down trend in early January. Generally, the institutional money will defend this area when it is retested.

Nicholas Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Here's The Coca Cola $KO Trade Level Everyone Should Know

Leading beverage company, Coca Cola Co (NYSE:KO), has been under some selling pressure since February 13, 2019. At that time, the stock was trading as high as $49.94 a share before warning about 2019 macroeconomic uncertainty and foreign exchange headwinds. Today, KO stock is trading at $45.60 a share. Traders should note that KO stock is now below its 50 and 200-day moving averages. This puts the stock in a weak technical position on the charts. The next important support level for KO stock will be around the $42.50 area. This is where the stock was defended back in May 2018 and will likely be supported again when retested.

Nick Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Utility Stocks Retreat, But The Run Is Not Over Yet

The Utilities Select Sector SPDR Fund (NYSEARCA:XLU) has been on an amazing run higher since December 26, 2018. It should be noted that when interest rates decline the utility stocks will generally move higher and that is exactly what has occurred. On December 26, 2018 the popular XLU traded as low as $50.81 a share before breaking out to new 52 week highs. On March 14, 2019 the XLU traded as high as $58.74 a share before staging a minor pullback. Today, the XLU is trading around the $57.55 level. Traders and investors can easily see that the trend is up on the XLU and that another pullback in the ETF is a likely buying opportunity. At this time, the $55.00 area looks like solid daily chart support. This is where the 50 and 100-day moving averages are currently. This level should be defended when initially tested. The only thing that could disrupt the XLU trend would be higher interest rates and that is highly unlikely to occur at this time.

Nick Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Earnings Action Today! What This Stock... $FDX

Every trader and investor will be watching the $FDX earnings tonight after the closing bell. It is probably the most important stock in the transport industry group. Remember, $FDX has been making lower highs on the charts since January 2018.

Nick Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Caution When A Rush Of IPOs Hit The Market $LEVI

It looks as if we are having a bunch of IPOs scheduled to hit the market very soon. Today, the highly anticipated denim jean manufacturer, Levi Strauss & Co (NYSE:LEVI), became a public traded company. There are several other popular companies that are also looking to come public very soon. Some of these companies include Lyft, Uber, Pinterest, Airbnb and Palantir. Very often the overall stock market will remain strong into these important IPOs. Usually, once these IPOs are released then the markets will usually stage a correction or pullback. Does anyone remember Blackstone Group (NYSE:BX). That stock came public in July 2007 and the market indexes topped out in October 2007. Now please understand, I'm not saying we are going to face the next great recession, but we could be in store for a summertime decline. Either way, when these IPOs come out in droves it is a time for caution soon.

Nick Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Tenneco $TEN Keeps Tumbling, Watch This Trade Level

Tenneco Inc (NYSE:TEN) makes automotive clean air / ride performance products for original equipment manufacturers and aftermarkets. The stock has been in a steady down trend since February 2017. At this time, the stock peaked out at $70.96 a share. Today, TEN stock is trading at $22.61 a share. Traders and investors should note that TEN stock is trading below it's important 200-month moving average. This tells us that the stock is in a very weak technical position on the charts. The next major support level for TEN stock will be around the $20.00 level. This is where the stock broke out in 2010. Often, declining stocks such as this will find excellent chart support around prior break-out levels.

Nick Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

This Leading Gold Mining Stock $KL Is Finally Pulling Back, Watch This Trade Level

One of the leading gold mining stocks in the past year has been Kirkland Lake Gold Ltd (NYSE:KL). This company is a Canada based mid tier gold mining, development and exploration company. The stock broke out to the upside in December 2018 and traded as high as $36.74 a share on February 28, 2019. The stock has now made some lower highs on the daily chart and is consolidating on its 50-day moving average in a bearish manner. This pattern signals some more weakness ahead. Traders and investors should now look for daily chart support around the $29.00 area. This level is where there is an important retrace area and a rising 20-week moving average. This is usually a solid combination for a solid bounce in the stock.

Nick Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

The 10-Year Yield Is Testing A Critical Support Level, Watch Out Below!

Everyone is talking about about the falling yield on the 10-Year U.S. Treasury Note. Today, the 10-year yield is around 2.395%. Yesterday, the 10-year yield hit the 200-week moving average and this looks to be a critical support level. Trader and investors should note that the 10-year U.S. Treasury Note yield is in a confirmed down-trend on the daily chart. The yield has declined below it's 200 and 50-day moving averages. This is a very weak technical formation and generally a sign that bond yields will decline further in the next few months. Should yields break below this important 200- week moving average it will generally signal a move down to the 2.00% area. Should this occur then the fed funds rate (2.25 - 2.50%) would be above the 10-year Treasury Note yield. This is why the Federal Reserve would likely lower the fed funds rate in the second half of 2019.

Nicholas Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Accenture PLC $ACN Epic Double Top After Epic Run Screams Short

Shares of Accenture PLC (ACN) surged higher this morning, hitting a new all-time high at $177.49. This surge higher is significant as price tagged and briefly crossed an epic double top from September 2017. Today's surge followed a vertical run in the stock of 34% from the December 2018 lows. With multiple overbought indicators flashing sell and an epic double top, pro traders are looking to short Accenture. They expect a classic pull back off double top to a pivot of $165.50 in the next week or two. Further out, a drop to $150 is likely. This is a classic technical trade setup for swing traders.

Gareth Soloway
InTheMoneyStocks

 

[InTheMoneyStocks]

Walgreens $WBA Tumbles After Earnings, Here's The Trade

This morning, leading pharmacy and well-being retail store operator, Walgreens Boots Alliance (NYSE:WBA), is declining sharply after reporting earnings. The stock is trading lower by more than 12.0 percent to $55.71 a share. Traders should note that the stock has been in a down-trend since December 2018 trading below all of its major weekly chart moving averages. The next important support level on the chart will be around the $50.00 area. This is where the stock should have some solid support. This support area would be where the stock broke out of a sideways base in September 2013. There is also a major retrace level and other important major moving averages around this key area. This level should be defended by the institutional crowd when retested.

Nick Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Crude Oil Likely Topping As It Tags Major Resistance/Retrace Level $USO

Spot crude oil continued its upward swing today, hitting a high of nearly $62.50/bbl. Pro traders have finally stepped up and started to short the commodity based on the daily 200 moving average being tagged and a cross of the 50% Fibonacci retrace from the highs in September 2018 to the lows of December 2018. The weekly chart shows a classic bear formation as well. Expectations are for a near-term pull back on spot crude oil to $55/bbl.

Gareth Soloway

InTheMoneyStocks

 

[InTheMoneyStocks]

Tandem Diabetes Care Inc $TNDM Retreats, Watch This Trade Level

Tandem Diabetes Care Inc (NASDAQ:TNDM), is a leading manufacturer and developer of medical devices for people with insulin dependent diabetes using its micro-delivery technology. The stock has been pulling back since March 22, 2019 when it traded as high $74.77 a share. Since that recent pivot top, the stock has pulled back and is now trading at $60.33 a share. Traders and investors should note the gap fill window around the $50.00 level on a daily chart. This level should be solid support. There was sideways consolidation around the $50.00 area before the gap higher breakout move in late February 2019 making this a good support level when tested. At this time, the company is scheduled to report earnings on April 25, 2019.

Nick Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Big Bearish Outside Day For Cloud Based Software Stocks

This morning, most of the leading cloud based software stocks are declining sharply lower. Leading software stocks such as $ZEN, $WDAY, $CRM, $DATA, $COUP and other are falling by more than 3.0 percent today. This important industry group has been leading the technology space for all of 2019. When a leading sector loses it leadership it could just be rotation into another group or a sign of a topping market.

One stock that has caught my eye in the cloud based software sector is Zendesk Inc (NYSE:ZEN). This stock has been a major winner in 2019, but today it is declining lower by 4.62% to $81.48 a share. The stock is now forming a bearish engulfing candle on the daily chart. It is also now trading below its important 20-day moving average which has been signaling a strong up-trend for the stock until today. Should the stock close down here today it would eclipse the prior two weeks of upside and be a negative reversal day for the stock . At this time, the next important daily chart support level for ZEN would around the $75.00 area. This support level is where the stock pivoted to the upside on March 8, 2019. This will likely be defended again at this level when retested.

Nick Santiago
InThemoneyStocks