This Trade Level Is Where Delta Air Lines Can Take Off As you all know, most of the leading airline stocks have been coming under pressure recently. The leading airline stock in the industry group is Delta Air Lines Inc (NYSEAL). This stock topped out on January 16, 2018 at $60.79 a share. Since that high in the stock the shares have rolled over sharply. Today, DAL stock is trading lower by $1.48 to $52.37 a share. Traders now understand that the major market indexes are in correction mode, so it is prudent to look lower for major trade levels. The $48.50 area is a level that really stands out to me. This area was where the stock bottomed in November 2017. Often, when stocks retrace back to a major support level they will usually be defended by the institutional money. I will be looking to buy DAL stock around the 48.50 area. Nicholas Santiago InTheMoneyStocks
As iRobot Corp (IRBT) Collapses, Here Is The Ultimate Target (Yuck!) Shares of iRobot Corporation (NASDAQ:IRBT) are falling after the company did not perform up to Wall Street's expectations. This fall is more like a major collapse with the stock down 30% on the day. On a technical basis, iRobot Corp broke the pivot lows from October and December 2017. This is extremely bearish for the stock as it means the next leg lower has started. Based on the technical weakness in the market and the pivot low break, I am looking for an ultimate major target of $44.00. With the stock currently near $60, it means there is likely quite of bit of downside to go, even another 30%+. However, if we are entering a bear market, that is not even a hard thing to achieve on most high flying tech stocks. I will be looking to accumulate at $44.00. Gareth Soloway InTheMoneyStocks
Crude Oil Hits Major Pivot Support, See Which Energy Stocks To Buy Crude oil traded near $67 just a week or so ago. In quick fashion, the commodity collapsed hitting a low of $58 this past Friday. This level was a major pivot and downside target as discussed in my previous article last week. With this pivot/target being hit, investors can start accumulating oil stocks/energy stocks for a snap back bounce. The best of breed stocks should be the first bought. Chevron (CVX) and Exxon (XOM) are my two favorites. Both have fantastic dividends and are discounted sharply from their 52 week highs, not only from the oil drop but also the market collapse. I expect oil to snap back to $63 as a target with Exxon heading to $80 and Chevron popping back to a target of $120.00. Gareth Soloway InTheMoneyStocks
Yum Brands Inc Is Not Looking Tasty Yet, Know This Trade Level One of the leading restaurant stocks in the market is Yum Brands Inc (NYSE:YUM). Yum Brands operates the KFC, Pizza Hut and Taco Bell restaurants. Today, YUM stock is declining lower by $1.65 to $77.66 a share. Traders should note that the stock was defended at its 200-day moving average last week. Should YUM stock trade and close below this important 200-day moving average at $76.72 it would likely signal another leg lower in the stock. The next major support level for YUM stock would be around the $72.80 level. This level was major support in late September 2017 and will likely serve as support again if retested. This price area would be where I would look to step into the stock on the long side. YUM stock is now on my radar. Nicholas Santiago InTheMoneyStocks
The S&P Soars, Here Is Where Smart Traders Start Shorting Again... The S&P 500 staged a dramatic rally on Friday after tagging the daily 200 moving average. After an over 10% collapse in a week, smart investors jumped into beaten down quality stocks at the technical chart support. For those of you that followed me this past Friday, you know we covered a dozen short positions at the lows and grabbed multiple longs. So where is the S&P 500 headed? The answer is found in the charts. The key to finding the next big short on the S&P is found by seeing where the most technical resistance signals coincide. The level is 2,760. This is the daily 20 moving average, close to a Fibonacci 61.8% retrace of the collapse as well as a full retrace of the 2-over 1,000 point drop days in the Dow Jones Industrial Average. In addition, watch the sentiment of traders and average investors. I expect that when we hit this level, many TV talking heads will start giving the bullish, all-clear signal. Many smaller investors will start expecting new highs and the buy-the-dip mentality will surge. All these signals will alert investors like myself to short the market for the next wave of panic/selling. Gareth Soloway InTheMoneyStocks
PG&E Corp $PCG Signals Strong Buy And Major Upside To $55 Beaten down utility PG&E Corporation (NYSECG) has just signaled a major buy. Friday, the stock hit a 7 year low and reversed, forming a bullish bottoming tail on the daily chart. This is a strong buy signal on a utility that is fast recovering from the California wildfires. The stock has fallen in the last 8 months from over $70 and is ripe for investors looking for a recovery story that has major upside. I think it is very possible to see $55 on this in 2018. Gareth Soloway InTheMoneyStocks
Bet On This Casino Stock At This Level Many of the leading casino stocks have come under selling pressure recently. One leading stock in the industry group that has caught my eye is MGM Resorts International (NYSE:MGM). This leading casino stock made a short term top on January 29, 2018 at $38.41 a share. Since that time, MGM stock has pulled back by more than $5.00 a share. Today, MGM stock is trading at $32.92 a share. Traders should watch the $30.40 level as the next major support area for the stock. This would a very solid level for a long side trade should MGM decline into this area. The company is scheduled to report earnings on February 20, 2018 before the opening bell. Nicholas Santiago InTheMoneyStocks
Here Is The Master Short Level On Alphabet Inc $GOOGL Shares of Alphabet Inc (NASDAQ:GOOGL) are surging today as the market reversed early losses and spiked dramatically higher. Today is the first day since the massive collapse last week where investors are ignoring negatives and buying-the-dip. To give an example of this, look at yields on the 10 year bond. They are hitting 2.90% on the back of higher inflation data. This would have been a major negative last week but today, after a gap lower, investors are ignoring it and buying the market. This shows us a resurgence of the buy anything and everything mentality, a good sign for those wanting the markets to move higher so they can get off a good short. Alphabet Inc reported poor earnings results recently. This means that it will be a prime candidate for a short when the right price target is hit. that right price target is $1,182.00. This is a major gap fill and close to a major double top. If the price of Alphabet Inc can hit this level, it becomes a strong, high priority short trade. I will be laying in wait to take it myself. Gareth Soloway InTheMoneyStocks
Phillips 66 Is Showing Weak Relative Strength, Watch This Trade Level Phillips 66 (NYSESX) is a leading manufacturer of chemicals and oil refining products. The stock peaked out on January 24, 2018 at $107.42 a share. Since that high pivot, the stock has sold off sharply and is now trading around the $92.68 level today. Last week, PSX stock tested the 200-day moving average at $89.14. So far, that level has held up as support. Should PSX stock trade and close below this key moving average it would signal another decline is likely for the stock. The next key support area for PSX stock will be around the $82.00 level. This area is where the 200-week moving average is at. Generally, the first move down into a key moving average will serve as support when tested. Nicholas Santiago InTheMoneyStocks
