Teva Pharma Signals Big Move Coming $TEVA Shares of Teva Pharma (TEVA) continue to see major accumulation in the face of bad sector news. This is extremely bullish. Recently, companies in the sector have teased bankruptcy with some actually filing. Teva has not made new lows on this news and is actually higher. This tells you big money does not believe Teva will need to file and will survive all the lawsuits from the opoiod epidemic. The biggest chart signal for major upside is the bull flag formation on the daily chart, just above the daily 50 and 20 moving averages. This setup is a high reward setup. Based on calculations, 6 month target is $13 while the 1 month target is $10. This setup is one swing traders dream about. It is multi-factor and historically plays out 80% or more of the time. The added big money accumulation is significant as well. Gareth Soloway InTheMoneyStocks
Corning $GLW Sunk After Cutting Its Outlook And Still Has Lower To Go A couple of days ago, leading specialty glass and ceramics manufacturer, Corning Inc (NYSE:GLW), tumbled after cutting its outlook for two large parts of its business. Corning warned that it is reducing its expectations for its Optical Communications and Display Technologies segments. The stock was trading around $34.00 a share in late July. After the recent news, share of GLW are now trading around $27.90 a share. Currently, the stock is sitting right on its 200-week moving average. This key moving average has been holding as support since mid-August. The longer the stock bases along the 200-week moving average the more likely it is to break lower. The next major support level for GLW will be around the $24.50 level. This support area is where the stock broke out in January 2017. Often, stocks will be defended when prior break-out levels are retested. Nick Santiago InTheMoneyStocks
Funny Accounting Can’t Save Microsoft $MSFT Yesterday, in an attempt to keep their stock price up, Microsoft (MSFT) announced a dividend hike and another stock buyback. When a company buys their stock back, it reduces the amount of outstanding shares. This in turn ups their earnings-per-share even if they don’t make a penny more. It is often referred to as funny accounting or fuzzy math. After announcing this, shares of Microsoft surged in after-hours trading and into the morning session. However, the stock rose only high enough to hit a double top (on the daily stock chart) before collapsing back down. With the fall back to earth, a topping tail was born. Topping tails are major top signals. While Microsoft was looking to pull one over on average investors, it appears smart money is selling right into the pop. I expect Microsoft to break lower in the coming days. Once the stock price breaks below key support at $137, an epic move to $124 will likely take place within days. Gareth Soloway InTheMoneyStocks
Tilray Inc $TLRY Bull Flag Ready To Blast Share of Tilray Inc (TLRY) are putting in a gorgeous bull flag consolidation pattern. This signals major upside in the coming days. Likely as early as next week a move could begin with an upside target of $39.00 for the current $30.72. For a breakout of the bull flag, look for any daily close above $31.75. This should ignite the blast-off. Gareth Soloway InTheMoneyStocks
FedEx Corp Is Still Sinking, Here’s The Only Trade Level I Could Find Last week, FedEx Corp (NYSE:FDX) plunged lower after reporting earnings. The company gave a pessimistic view of the global economy and cut its guidance. They also cited political uncertainty and trade tensions for the weakness. Earlier this year, the company announced that they would not renew a contract with Amazon (NASDAQ:AMZN) and this could also be weighing on the bottom line. FedEx stock is now trading at new multi-year lows. The stock peaked in January 2018 at $274.66 a share. Since that high in the stock, the shares have dropped lower by 46.0 percent and currently trade around the $146.00 area. Traders should note that the stock has now broken below its 100-month moving average. This is a sign of weakness and likely signaling more selling pressure ahead for the transport giant. The only level that would get me interested in the stock would be around the $125.00 level. This is where there is a major retrace support area from the 2009 lows and a pivot support level from January 2016. This is a solid area for a long side trade in FedEx Corp stock. Until then, I would likely stay away from the stock until the chart changes or tell me something different. Nick Santiago InTheMoneyStocks
Alert: Strong U.S. Steel $X Reversal Is Bullish Shares of U.S. Steel (X) opened sharply lower today, hitting a double bottom and multi-year low. However, in dramatic fashion, U.S. Steel started to climb, quickly turning positive. This price action shows major accumulation and buying pressure. The technical double bottom and oversold nature of the equity add fuel to this fire. It is very possible, U.S. Steel put in a major pivot low, possibly a low for the year. I am looking to buy this on any pullback under $10.75. Upside near term is $12.50, then as high as $16.00. Gareth Soloway InTheMoneyStocks
The S&P 500 E-Mini Just Triggered A Head & Shoulder Top The S&P 500 E-mini futures just triggered a head and shoulders top pattern on the hourly chart. This pattern signals a decline into the 2930.00 area due to the calculation. Full disclosure, I own SDS shares. Nick Santiago InTheMoneyStocks
$ROKU Tags Epic Gap Fill, Bounce Likely Shares of ROKU have collapsed in the last few weeks, falling from an all-time high of over $175 to a low today of $98.65. Today is the first day a major bottom may have been put in. The reason is an epic gap fill, a technical point on the chart was touched. In addition, ROKU flushed early in the day, but as the S&P has continued to fall, ROKU has actually rallied. This points to accumulation buying by big players. This means ROKU will likely bounce near-term to the $119.00 level. Gareth Soloway InTheMoneyStocks
Darden Restaurants $DRI Has Been Crushed Since Earnings, Here’s The Trade Leading restaurant stock, Darden Restaurants Inc (NYSERI), has been selling off sharply since reporting earnings on September 19th, 2019. The stock was trading as high as $127.60 a share before its earnings announcement. Since that time, the stock has collapsed down to the $116.00 level. Today, DRI stock is testing its 200-day moving average, so there could be some short-term support here around this area. While the stock is currently at short-term support the better support level for a more defined bottom would be around the $110.00 level. This is where the stock broke out in March 2019. Often, prior break-out levels will serve as excellent support when initially tested. I’m keeping this stock on my radar around this $110.00 level for a long side trade. Nick Santiago InTheMoneyStocks
