Fluor Corp (NYSE:FLR) Nearing Major Chart Support Leading construction and engineering company Fluor Corporation (NYSE:FLR) was another stock that tumbled after reporting earnings recently. On May 5th, the construction company missed earnings forecasts and guided FY17 EPS below consensus. This does not seem like a stock traders and investors would want to own right now, but the charts are painting a different picture. Fluor Corporation (NYSE:FLR) stock is now trading into a very interesting support area. Aggressive traders and investors could actually nibble on the stock at it's current price level which is around $47.50 a share. Traders can use the current bottoming tail from May 5th, 2017 as the stop loss. Any daily close below the tail low at $46.50 would trigger a stop loss in the trade. More conservative traders can look at the $44.00 area as the next level to go long (buy) the stock. This area would be a significant retrace level where the institutional money would likely step in and support the equity. Either way, FLR stock is now looking attractive for a long side trade according to the charts. Nicholas Santiago InTheMoneyStocks
Bullish Pattern Trade Setup On Goldman Sachs Group Inc (GS) As poor as earnings were on Goldman Sachs Group Inc (NYSE:GS) and as negative as the press has been of late, the stock chart setup is actually very bullish. In fact, the stock chart is signaling a near-term move to the upside. Logic dictates this may be as a result of something outside of Goldman Sachs. For example, I would bet it has something to do with interest rates spiking higher in the coming weeks. That has been one of the catalysts for financial stocks in the last year. Another catalyst could be talk about getting rid of key things within Dodd-Frank. Either way, the stock chart is very bullish, therefore I am bullish. An upside move could take the stock back to the $250 level. Gareth Soloway InTheMoneyStocks
General Electric Co (NYSE:GE) Signaling Weakness This morning, leading diversified industrial company General Electric Co (NYSE:GE) is failing to rally with the major stock indexes. The stock has been declining since April 20, 2017 when it traded as high as $30.54 a share. Today, GE stock is trading around the $28.00 level. So where is the next major chart support level for GE stock? If traders go back and look at a weekly or monthly chart they will notice a major breakout for GE stock occurred in October 2015. This tells me that the stock will be defended around the $26.00 level when it trades down to that area. So here is the trade, buy GE stock when it trades down to $26.00. Use a weekly chart stop loss with a close below the $24.75 level. The first upside target will be at $27.30, the second target around $30.00. Nicholas Santiago InTheMoneyStocks
Why The Sharp Sell In J C Penney (JCP) May Have Nothing To Do With Earnings... J C Penney Company Inc (NYSE:JCP) is flushing again today, following Friday's poor earnings report. The stock is down over 26% in the last week as all retailers are collapsing. Today, the stock hit a low of the day at $4.17 and I am here to say it may be a strong buy. In fact, I am here to say that it is possible that today's flush from $4.53 to $4.17 has nothing to do with poor earnings and is a result of certain funds not being able to hold stocks that are below $5.00. Please be aware, this is not all funds, definitely not hedge funds and such. However, it is enough to create added selling pressure today. What does it mean? It may mean that this selling today is just a result of these funds selling and once it has concluded, it will snap back quickly. Earnings, while not great, were alright. In my opinion, not worth a 26% selloff. I think J C Penney Company Inc is extremely interesting down in this sub $4.35 range if my thesis is correct. Just something to ponder. Gareth Soloway InTheMoneyStocks
While Markets Tank This Consumer Goods Stock Looks Attractive Today, all of the major stock indexes are falling sharply lower on the back of an uncertain political picture. As you all know, the Trump presidency has been surrounded by turmoil since day one, but today the markets are talking as the S&P 500 Index declines by more than 1.00 percent. Either way, when there is market uncertainty this makes the personal product stocks such as Procter & Gamble Company (NYSEG) look attractive. Procter & Gamble Company (NYSEG) stock topped out in March around $92.00 a share. Since that time, the stock has been pulling back and is now trading at $86.24 a share. Traders and investors should note that the $84.35 level looks very attractive on the charts. This is an area where the stock broke out in January 2016. Often, past breakout levels will be defended by the institutional money when retested. The stock should have upside potential to the $90.00 level. Traders can simply put a stop loss below the $82.40 level on a weekly chart basis. Nicholas Santiago InTheMoneyStocks
Trading Opportunity: Goldman Sachs Group Inc Shares of Goldman Sachs Group Inc (NYSE:GS) is approaching a technical support level I intend to buy. The level is the daily 200 moving average as well as a former pivot. The stock is down from a 52 week high of $255.15 to its current level below $214.00. One more push down will tag that multi-support level and yield a likely bounce. The buy trade level is $210.00. Nicholas Santiago InTheMoneyStocks
This Stock Is Now On The Radar Today, the construction services firm Jacobs Engineering Group Inc. (NYSE:JEC) is trading lower by 0.53 cents to $51.18 a share. This stock stock peaked out in late November 2016 at $63.42 a share. Since that high pivot the stock has been steadily trending lower. Traders and investors should note that JEC stock is now tagging the weekly chart 200 moving average. This level is also coinciding with the wide range breakout bar from early November 2016. Traders can look to buy JEC stock around the $49.00 level. It is important to use a weekly chart stop loss on any close below $45.95. The upside target for this stock is around $54.00 and ultimately a move into $60.00 area. Nicholas Santiago InTheMoneyStocks
This Big Pharma Stock Is Nearing A Buy Level Traders and investors should note that Pfizer Inc (NYSEFE) stock has been steadily declining since late February 2017. At that time, PFE stock was trading above $34.00 a share, today PFE stock is trading around $32.00 a share. The pharmaceutical giant is now trading below the important 200 and 50-day moving averages. This puts the stock in a weak technical position on the daily chart. Pfizer Inc (NYSEFE) stock will have major chart support around the $30.00 level. This is an area where the stock was defended in April and November 2016. Often, past break-out levels will serve as major chart support when retested. The $30.00 level should be an area where PFE stock can be bought. Traders should look for a move back up to the $34.00 area. Traders that buy this stock should place a stop loss below the $27.50 level using a weekly chart close. Nicholas Santiago InTheMoneyStocks
This Has Me Interested In Shorting Alibaba $BABA Shares of Alibaba Group Holding Ltd (NYSE:BABA) jumped higher this past Friday morning after reporting solid earnings Thursday after-the-close. However, the party was short lived. After an initial pop higher, the stock reversed off all-time highs, putting in what is known in the technical analysis world as a topping tail. Topping tails are VERY bearish signals of potential long-term tops. Today, the stock is doing exactly what pro investors would hope, it is bouncing higher, retracing the tail. The reason an up-day today is beneficial is because it allows for investors shorting Alibaba Group Holding to get a higher entry point and it tightens the stop on the trade. The stop is any daily close above the topping tail high. In this case, the high was $126.40. With the stock currently trading around $125.40, this gives investors a tight $1.00 stop with the potential for a major move down to $104.50. How about that risk/reward? Pretty solid. Ultimately, this is a great bearish topping signal on Alibaba Group Holding and investors can look for a short, if interested. Gareth Soloway InTheMoneyStocks
