Edison International (NYSE:EIX) Sells Off As Wildfires Spread Edison International (NYSE:EIX) is a leading public utility with a major presence in Southern California. The stock has been declining sharply since the wild fires began in the Los Angeles area last week. On December 1st, 2017, EIX stock was trading as high as $81.96 a share. Traders should note that the stock is now trading around $68.00 a share as the wildfires in Southern California continue to spread. The stock is now trading below its important 50 and 200-day moving averages. This chart pattern indicates weakness in the equity and potentially further downside. The next major support area for EIX will be around the $62.00 level. This is where the stock should be defended by the institutional money. In February 2016, EIX stock broke out from this area. Very often, when falling stocks retest there prior break-out levels they will be supported and defended. This is a trade area where I will look to get involved in the stock on the long side. I will be trading the stock by buying the equity or by buying call options in the name. Nicholas Santiago InTheMoneyStocks
$JUNO Hits Support For Technical Bounce Trade Here... Shares of Juno Therapeutics Inc (NASDAQ:JUNO) have fallen sharply over the last two trading days. On a technical basis, the biotech hit major support when it broke through $46.00. This is a bounce level for investors looking for a quick couple day bounce. Look for a snap back to $50 in the coming days. Gareth Soloway InTheMoneyStocks
After Tax Reform Will Infrastructure Be Next? It is safe to say that most of 2017 has been dominated by the U.S. tax reform bill. Almost everyday we hear a politician comment about the bill that moves the stock market. At this stage of the game, the GOP better get this bill passed. Yesterday, Alabama voted in a Democratic to the U.S. Senate and this could be a problem for the GOP if this bill does not get passed before he is sworn in. At this time, the tax reform bill is expected to be signed into law next week. So what is next for the stock market to look forward to after tax reform? It is infrastructure, this has been promised by the administration and will likely be the next big task that is taken on by the GOP in 2018. Here is a list of possible stocks that could be in play next year if there is an infrastructure bill introduced. They are Chicago Bridge & Iron Company (NYSE:CBI), United Rentals, Inc (NYSE:URI), Martin Marietta Materials (NYSE:MLM), Cemex SAB de CV (NYSE:CX), U.S. Concrete Inc (NASDAQ:USCR), Jacobs Engineering Group Inc (NYSE:JEC), Fluor Corporation (NYSE:FLR), Vulcan Materials Company (NYSE:VMC) and Caterpillar Inc (NYSE:CAT). Traders should be watching the charts of these stocks closely as they will often give us the pattern formation when the infrastructure debate will take place in the United States. Nicholas Santiago InTheMoneyStocks
This Says Another 20% Drop Is Coming... Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) have already broken major support, trading near $10 from a 52 week high of over $15.00. The nasty fact is, Advanced Micro Devices is going lower. There is a bear flag forming on the daily chart that signals further downside. There is no support until $8.00. That means another 20% drop. Once at $8.00, I will start getting interested in going long.
Jabil Inc (NYSE:JBL) Is Sliding, Watch This Level Today, leading electronic manufacturing services and solutions company, Jabil Inc (NYSE:JBL), is failing to participate in the broad based market rally. JBL stock is declining lower by 0.45 cents to $27.42 a share. Last week, Jabil Inc reported earnings, but that did not help the stock price. Shares of JBL have been under pressure since September 19, 2017 when the stock traded as high as $31.60 a share. Traders should note that JBL stock 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 next major support level for JBL will now be around the $26.25 level. This important area is where the stock broke out in March 2017. Often, equities that are declining will be defended around their prior break-out levels. I will be looking to play JBL soon, so watch this level. Nicholas Santiago InTheMoneyStocks
Halliburton Company (NYSE:HAL) On Breakout Watch Shares of Halliburton Company (NYSE:HAL) are hammering on the $46.00 level for the 5th time in the last few months. The likelihood of a breakout is strongly increasing as an inverse head and shoulder pattern has formed. Should Halliburton Company breach $46.00 on a daily closing basis, the stock will likely trade to $50.00 (the target of the head and shoulder pattern). Keep this on your watch list in the coming days. Gareth Soloway InTheMoneyStocks
The Herbalife Ltd (NYSE:HLF) Chart Indicates Downside Herbalife Ltd (NYSE:HLF) is a leading global nutrition company. Recently, the stock has tried to recapture its 50-day moving average but has failed on multiple attempts over the past month. When a stock trades below a key moving average it will generally be viewed as a negative in the chart. Today, HLF stock is trading around the $68.00 level which is just above the important 200-day moving average at $67.45. A failure to hold this key area will indicate further weakness in the equity and a potential decline down into the $61.00 level. The $61.00 area is where there should be solid institutional support. This level is where the stock was supported in August 2017. Often, prior support levels will be defended when retested. Nicholas Santiago InTheMoneyStocks
Twitter Inc (NYSE:TWTR) Hits Double Top, Likely To Pull Back Shares of Twitter Inc (NYSE:TWTR) slammed into the pivot high from October 2016 at $25.50. At that time, the stock was a potential buyout play. While Twitter Inc is unlikely to be bought out now, it does appear they are figuring out how to monetize the social platform. While long-term bullish, investors and traders can look to buy puts on Twitter Inc or short it flat out at this level. I expect a pull back off this $25.50 resistance back to $22.00, maybe even as low as $20.00. Gareth Soloway InTheMoneyStocks
