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
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
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.
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
SINA Corp $SINA Is A Strong Buy Shares of Sina Corp (SINA) are holding green today after President Trump announced a new round of tariffs on Chinese goods and the Chinese responded with tariffs of their own. Most would expect Chinese companies to drop sharply, but Sina Corp is not. This tells us that the stock is seeing little impact from the latest round of tariffs or the negativity of the tariffs have already been factored in. Examining Sina Corp closer, the stock chart is into major, epic support and likely near/at a bottom near-term. This tells us that the stock could likely bounce sharply higher in the coming weeks. Look for an upside move back towards $80 by year end. Gareth Soloway InTheMoneyStocks
Tech $XLK is weak today, but the big banks are surging. $JPM is trading up by more than $2.00 in the morning session. This is just more money rotation from one industry group to another - Nick Santiago
Copart $CPRT Sinks After Earnings, Know This Trade Level Copart Inc (NASDAQ:CPRT) is an online seller of salvaged vehicles on behalf of banks, finance companies, charities and dealers. Earlier today, the company reported earnings that are not being well received by investors. Copart Inc shares are declining lower by more than 16.0 percent to $53.30 a share. This morning, the stock has been defended around its 50-week moving average which is at $50.24. A daily chart close below this critical support level will indicate further downside for the stock. The next major support level that traders and investors should watch will be around the $47.00 area. This is where the stock was defended in March 2018 and was followed by a break-out to new highs. Often, past breakout levels will serve as excellent support when retested. Nicholas Santiago InTheMoneyStocks
Celgene Corp $CELG Chart Signals Trouble Shares of Celgene Corp (CELG) have a nasty chart and pro traders are alerting investors. The stock price is currently forming a classic bear flag pattern. To make matters worse, the daily 20, 50 and 200 moving averages are just above current price and turning lower. This signals a likely fall on Celgene Corp in the coming weeks to as low as $75.00. Gareth Soloway InTheMoneyStocks
Stich Fix SFIX Gets Ripped, Watch This Swing Trade Level Stitch Fix Inc (NASDAQ:SFIX) is an online personalized styling service company that has been a major winner in 2018. The stock made a short term top a couple of days ago at $52.44 a share. Since that high pivot, the stock has tumbled by over $12.00 and is currently trading at $40.30 a share. The decline has occurred with higher than normal volume which indicates institutional selling. The daily chart would indicate major support for the stock around the $34.00 area. This important level is where the stock broke out of a sideways base in August and will likely be support when retested. Remember, past break-out levels will often serve as solid support levels when back-tested.
Broadcom $AVGO Upside Target & Short Level Revealed Shares of chip maker Broadcom (AVGO) are climbing higher again today. They are significantly above their July lows of $198, currently trading at $245.00. Based on technical charting, Broadcom will continue to move higher until it gets to about $265. Once there, a maximum upside level will be tagged and the stock will likely pull back sharply. Investors who are long can remain long until $265. Those looking for shorts be patient until that level. Gareth Soloway InTheMoneyStocks
This Is Why Qualcomm $QCOM Likely Topped Out Shares of Qualcomm (QCOM) have likely topped out in the near-term based on a stock chart showing a major top resistance trend line. Price tagged this line in the last few days after jumping from below $50 to above $75 in just a few months. The chart below showcases this trend line. This is a high reward short trade in the coming days/weeks. Gareth Soloway InTheMoneyStocks
