InTheMoneyStocks Market Analysis

[InTheMoneyStocks]

Boeing $BA Is Falling Again, Here's The Chart Level You Should Know

Boeing Co (NYSE:BA) continues to remain one of the most volatile stocks in the market. Traders and investors simply cannot find a stabilizing stock price at this time. Since the unfortunate Ethiopian Airlines accident the stock has been stuck below the important psychological $400.00 level. Today, the shares of BA are trading lower by $19.29 to $362.64 a share. The catalyst for today's decline in the stock is due to the company announcing it will temporarily cut its 737 Max production from 52 planes to 42 planes a month. Boeing Co is scheduled to report earnings on April 24, 2019. Until that time, the stock is going to see more choppiness and volatility. The one level that I will be watching for the stock will be around the $330.00 area. This key support level is where the stock broke out on January 8, 2019. Once it is retested it should serve as solid support and a likely level to see institutional sponsorship.

Nick Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Will The Strong U.S. Dollar Hurt The Multi-National Stocks?

Earlier today, the European Central Bank (ECB) gave another weak forecast for the European economy. The ECB President Mario Draghi is concerned that he is seeing slower growth momentum in the euro zone. This news should continue to support the U.S. Dollar Index (DX) in the future. While the U.S. Dollar Index remains strong at this time it has still not broke out much past the $97.00 area. Should the dollar continue to gain strength this could hurt many of the large multi-national companies in the United States. Traders must remember, a weaker currency will usually boost exports as it becomes cheaper to sell goods abroad. While the U.S. Dollar Index is still below its 2017 peak it is starting to creep up toward that old high level. Earnings season is around the corner as J.P. Morgan Chase (NYSE:JPM) and Wells Fargo & Co (NYSE:WFC) are scheduled to report this Friday. So we shall start to hear from many companies about how the strong dollar is affecting their bottom line.

Nick Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

$LYFT gets interesting below $60. On watch - Gareth Soloway

 

[InTheMoneyStocks]

Vivint Solar Inc $VSLR Breakout Alert

Shares of Vivint Solar Inc (VSLR) just crossed above a major trend line of resistance, likely solidifying a breakout. The stock is currently trading at $5.35 and could head to gap fill $7.00 as the target. This is a great chart setup as the target is almost 30% higher and the stop is any close back below the breakout trend line of a few percentage points lower.

Gareth Soloway
InTheMoneyStocks

 

[InTheMoneyStocks]

Canopy Growth Is Breaking Down, Here's The Next Major Trade Level $CGC

Canopy Growth Corp (NYSE:CGC), is a leading Canada-based multi-brand cannabis company that is coming under some distribution today. The stock made a recent top on February 4, 2019 at $51.81 a share. Since that high pivot, the stock has been steadily declining lower and is currently trading at $40.13 a share today. Traders should note that the stock is now trading below its important 50-day moving average which indicates daily chart weakness. CGC stock will have many short term support levels coming up, but this downtrend is likely to continue for the next few months. The one major support level that I see on the charts is around the $32.00 area. This is where the stock soared higher on heavy volume in early January 2019 . Often, when a stock backtests their breakout level it will be defended again.

Nick Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

The 10-Year Bond Yield Is Telling You Everything You Need To Know

Bond yields on the 10-year U.S. Treasury Note were as low as 2.356% on March 27, 2019. At that time, the leading financial stocks such as JP Morgan Chase (NYSE:JPM), Goldman Sachs (NYSE:GS), Bank of America (NYSE:BAC) and most other financial stocks started to move back to the upside after a sharp five day decline that started on March 19, 2019. By now, every trader and investor knows that the stock market cannot really have a sustained rally without the leading financial stocks participating. Currently, the yield on the 10-year U.S. Treasury Note is around 2.55%. So simply put, yields have jumped up by just 20.0 basis points. That is not a big surge at all, but it has helped out the financial stocks and has given confidence back to the marketplace.

It looks like the 10-year U.S. Treasury Note yield found support at the 200-week moving average on March 26, 2019. This is certainly the key level that traders must now watch. If yields start to fall again on the 10-year U.S. Treasury Note it could be problematic for the current rally. Should yields decline below that important pivot low at 2.356% then it will likely bring some serious fear into the financial stocks again and possibly the entire stock market. At this time, the next important resistance level for bond yields will be around the 2.65% area. Right now, the 10-Year Bond Yield is telling you everything you need to know.

Nick Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Healthcare Inc $HCA Nearing Double Bottom Support

Healthcare stocks are being crushed today after medicare for all appears to be the wave of the future. While it may coming soon (next decade or so), there are still possible long trades in the sector. For example, Healthcare Inc (HCA) is slamming into a double bottom, technical support level at $116.25. With the stock down over 8% on the day, a technical long trade has a high reward factor for a day or two. Expect a bounce off this level back to as high as $124.00.

Gareth Soloway
InTheMoneyStocks

 

[InTheMoneyStocks]

The Health Care Select Sector SPDR Fund $XLV Is Now Attractive

As we all know, the health care stocks have been getting crushed this week. In fact, a fair case can be made that they have struggled since early March 2019 when the Health Care Select Sector SPDR Fund (NYSEARCA:XLV) traded as high as $93.45 a share. Today, the XLV is trading around the $86.00 level. Trader can easily see that the XLV is now trading sharply below its important 50 and 200-day moving averages. This is generally viewed as a sign of weakness and often an indication of further downside action in the sector. Now before we get too negative, traders should note that there is some saving grace for the sector coming up. First, the 100-week moving average is around the $85.60 area, so this is going to be some important support for the XLV near term. Second, there is also a very strong retrace level coming up as well and this could help support the XLV in the near term around the $85.50 level. So technically speaking, the XLV looks very attractive at this time despite many of the leading healthcare stocks being sold off.

Nick Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Kimberly Clark $KMB Reverses After Last Week's Earnings Pop

Today, leading consumer goods company, Kimberly Clark Corp (NYSE:KMB), is reversing sharply lower on the session. The stock is trading lower by $4.23 to $126.02 a share. This past Thursday, the stock soared to new 52-week highs after reporting earnings on April 22, 2019. On that day the stock traded as high as $132.47 a share. Traders must always be cautious when stocks reverse so much of there recent gains from a break-out. Often a reversal of this magnitude could signal much more downside in the near term. Please understand, while the stock is still in an up-trend and trading above its 20 and 50-day moving averages this reversal usually signals further downside in the shares. There are several support levels coming up such as the gap fill from the April 18, 2019 close, the 50-day moving average, and the $118.00 break-out level. Out of all of these near term support Levels the $118.00 area looks the best for a solid bounce in the stock.

Nicholas Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Silver Triggers Major Buy Per The Chart $SLV

Commodity traders are buying silver today after it completed a 61.8% retrace, filled a major gap on the $SLV (Silver ETF) chart and retraced into epic multi-pivot support. This triple factor level signals a coming bounce in silver. Note the chart below.

Gareth Soloway
InTheMoneyStocks

 

[InTheMoneyStocks]

The Best Bet For Stocks Is That No U.S./China Trade Deal Is Announced

As you all know, stocks have been rallying since December 26, 2018. The first quarter rally has been nothing short of amazing. Almost every trader and investor is waiting for a U.S./ China trade deal. Every few days we hear that a trade deal between the two countries is getting closer to actually happening.

Volume trends have been extremely light in 2019 which indicates very little selling pressure in the markets. Contrary to popular belief, light volume actually favors upside in the markets. Hence the old market adage, never short a dull market. At this time, many traders and investors are waiting for a trade deal to be struck by the United States and China. Simply put, nobody wants to get caught short when a deal is announced. After all, all we hear in the financial media is that a trade deal could add another 10 percent of upside to the market immediately. So who in their right mind would want to be short right now.

It is probably better that there is no actual trade deal announced in order for stocks to continue climbing. What would happen if the talks between the U.S. And China fell apart right now? That would probably be a big hiccup for the major stock indexes. On the flip side, should a deal be struck and signed then there will likely be another pop in the markets in the near term, but after an initial spike it could be a sell the news event. After all, the markets are rising on anticipation of a deal being announced very soon.

Nick Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

3M $MMM Tumbles And Still Has Lower To Go, Here's The Trade...

Today, leading Dow Jones Industrial Average component, 3M Co (NYSE:MMM), is declining lower by $25.61 to $193.47 a share. The stock reported earnings earlier today that are not being well received by the street. The company cut its 2019 earning forecast and said it will lay off 2,000 workers. Often, when stocks plunge from recent highs like this it will take a lot of time for the shares to recover. If fact, the current chart pattern signals further downside in the stock price before major chart support is found. At this point in time, the only level that looks like solid support will be around the $175.00 area. This is a level where the stock was defended in December 2018 and should be solid support again when tested.

Nick Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Alphabet $GOOGL Plunges After Earnings And It Still Has Lower To Go

This morning, leading tech giant, Alphabet Inc (NASDAQ:GOOGL), is plunging lower after reporting earnings. Obviously, the street did not like the earnings report from the company. Alphabet reported a sharp decline in ad revenue. The company also said changes to the YouTube algorithm caused lower engagement and ad revenue growth on the site. Today, the shares are trading lower by nearly 8.0% to $1193.76 a share. Traders and investors should note that GOOGL stock is now trading down to its important 50-day moving average. A weekly close below this key support level will likely cause the shares to decline further. At this time, the daily chart is still showing very good short term support around the $1174.00 level. This is a key support area and where the stock was defended on March 28, 2019. As always, the pattern over the next few weeks will be important.

Nick Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Multi-Factor Buy Level On Alphabet $GOOGL....

Shares of Alphabet (GOOGL) took a beating today after reporting poor financial results. The stock is trading lower by over 8%, just under $1,190.00. The top pro traders around the world are eyeing one major level for a buy. The buy trigger is $1,135.00 and is based on a pierce of the daily 200 moving average + a major former pivot high from 2018 and the 50% Fibonacci retrace from the low in December 2018 to the recent all-time high yesterday. These levels all coincide, giving investors a beautiful buying opportunity. Be patient, it will easily get there in the next few weeks.

Gareth Soloway
InTheMoneyStocks

 

[InTheMoneyStocks]

Screaming Buy Price On $VZ Is Right Here...

Taking a deeper look at the Verizon Communications Inc (NYSE:VZ) stock from a technical, chart performance standpoint, it indicates that the stock will be range bound throughout 2019 with one opportunity for a great buy level. As seen on the chart, the high end of the of the stocks trading range has been near the $61.00 price level. While the low end of the range is near the $52.00 level. This range is the main factor anyone considering taking a position in the stock should be focused on. Recently, the company reported earnings and raised their FY 19 EPS guidance to low single digit growth outlook. As a stock trader with well over 2 decades of experience in dealing with these scenarios, and many alike, this tells me that the stock is not poised to take off higher anytime soon. The weekly and monthly chart trends are still up, so any major sell off should lead to a buying opportunity in the stock - however, the upside expected on the trade would be limited to the upper price range as noted previously. When considering the best way to make money from VZ stock in 2019, unfortunately, there is really nothing to get overly excited about right now.

While everyone continues to talk about the roll out of 5-G, this still appears to be somewhat down the road. Also, other fundamental drivers such as the acquisitions of AOL and Yahoo! Inc do not seem to be major stock price movers for the company in the near term, and I'm not sure they ever will be.

ALL YOU NEED TO KNOW: The one thing to watch closely is the lower range of the stock. Should the stock break lower through the $52.00 price point and test the $48.00 area, I believe that would be a screaming buy level. After all, while the performance of the stock may be on the range bound/dull side, the company is still the number one mobile provider in the United States and its long term performance should lean to the upward direction. The one thing we need to do as smart investors is locate the best time/price to buy and I will be patiently waiting to enter at a breach of the lower price point of the range.

Nick Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

This Leading Chinese ADR Could Not Catch A Bid When There Was A Likely Trade Deal, Here's The Play

Baidu Inc (NASDAQ:BIDU) is viewed by many as the Google of China, it is the leading internet search engine in the country. The stock has been stuck in a sideways trading range since it bottomed in December 2019 at $153.78 a share. Traders should note that in May 2018 the stock traded as high as $284.22 a share. Today, BIDU stock is trading at $159.14 a share so you can see how this stock has struggled in 2019. Remember, the NASDAQ Composite and the NASDAQ 100 just made new all time highs last week. At this time, the stock looks to have a lot of support around the $150.00 level. This support area is simply a big whole round number that has not been tested yet. Often, markets love big whole round numbers and this should be the case for BIDU stock when it is tested. Should this $150.00 support level fail then the next major support area will be much lower and likely around the $130.00 level.

Nicholas Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

Starbucks $SBUX Nearing Max Move Level

Shares of Starbucks (SBUX) continue to make new all-time highs, today hitting a high of $78.57. However, this is nearing a maximum move if you look at the monthly chart and draw a trend line starting in 2005 and connecting to the 2015 high. The trend line extends out and finds the current price just a shade below. This tells us that Starbucks is near its maximum before the next strong pull back. Max upside potential should be $80, then look for a strong sell back to $70. Pro traders are looking to short this in the coming days.

Gareth Soloway
InTheMoneyStocks

 

[InTheMoneyStocks]

The Cannabis Stocks Are Dropping, Here's The One Stock I'm Waiting For $CRON

Many of the leading cannabis stocks have been declining recently. Canopy Growth Corp (NYSE:CGC) is the best of breed in the sector. This stock has held up the best in 2019. Tilray Inc (NASDAQ:TLRY) has been the worst performing cannabis stock in 2019. This stock remains in a down trend and there is really no sign of a bottom in sight yet. Aurora Cannabis Inc (NYSE:ACB) has been pulling back since March 19, 2019 and is not really signaling a buy level just yet on the charts.

The one cannabis stock that I would like to own at the right price will be Cronos Group Inc (NASDAQ:CRON). This stock has been falling sharply since February 4, 2019 when it traded as high as $25.10 a share. The stock is currently trading at $14.10 a share. Traders should note that the pattern on the chart is still very weak. CRON stock is trading below its 50-day moving average and that puts it in a weak technical position on the charts. There will be several support levels coming up for the stock in the near term, but the real institutional support does not show up until the stock reaches the 10.00 area. This is a level where I would look to aggressively own the stock. Please understand, it may take a little time for the stock to get down that low price point, but remember, patience pays.

Nick Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

General Motors $GM Rebounds Today, But Here's The Real Trade

This morning, all of the major stock indexes are rallying higher on the session. As we all know, the major stock indexes are currently short-term oversold from the recent sell off from a failed trade deal with China. One stock that is participating in the rally today is General Motors Co (NYSE:GM.) This stock has been declining since April 18, 2019 when it traded as high as $40.45 a share. Yesterday, GM stock tagged its important 200-day moving average around the $36.50 area. Today, that important support level is being defended and the stock is rebounding higher trading up to $37.22 a share. While this stock could trade a bit higher this week note that if the current U.S. / China trade deal runs into further headwinds more downside is imminent. Ultimately, I would get interested in GM stock around the $32.00 level. This is a spot on the chart where the stock was defended in January 2019 and will likely be defended again when tested.

Nick Santiago
InTheMoneyStocks

 

[InTheMoneyStocks]

$VERI Breakout...


Nice little potential breakout on $VERI Trend line taken out days ago, today a possible close above the daily 200ma.

Gareth Soloway
InTheMoneyStocks