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. Nicholas Santiago 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
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
Netflix $NFLX At Risk Of Major Breakdown Shares of Netflix (NFLX) continue to stay weak, even when the market rallies higher. While the S&P and NASDAQ are making 2019 highs almost daily, Netflix topped in mid-January 2019 and has chopped sideways. This shows institutional distribution. There is a significant trend line of support that price is hitting on. It is around $360.00. Should it break, the stock has three downside target levels. The first target is $320, then $299 and finally $273. The key here is the competition. With Apple Inc (AAPL) entering the arena, Disney (DIS) launching their service and countless others already on-line or coming on-line, Netflix is going to have some major competition. The growth rate exhibited by Netflix is unsustainable and institutional investors know this. At the high current valuation, smart investors are starting to shy away from Netflix. Based on these factors and the chart, a breakdown is coming shortly. Gareth Soloway 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
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
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
