What Would Watson Say After Today's IBM Sell Off? This morning, leading technology stock International Business Machines (NYSE:IBM) is declining sharply lower after reporting earnings. The stock is trading down by over 7.0 percent to $149.45 a share. The next important support level for IBM stock will be around the double bottom from February 9, 2018. At that time, the stock traded as low as $144.39 a share. Should the stock fail to hold this critical level as support it could signal more selling in the stock. Traders and investors must be very cautious with IBM stock until the charts firm up. Currently, the stock is trading below its important 50 and 200-day moving averages. This formation puts the stock weak technical position on the charts. We can only wonder what Watson would say after today's decline in IBM shares. Nicholas Santiago InTheMoneyStocks
Transports Nearing Major Resistance The transportation ETF $IYT is nearing major resistance. Look for it to stall and begin to drop lower. As a leading indicator, this will likely signal a market drop in the coming week. The level to short is $195.50. Gareth Soloway InTheMoneyStocks
Trade Alert: Short Chevron Corp $CVX Shares of Chevron Corporation (CVX) continue to surge higher as oil gallops towards $70/bbl. This gives smart investors a great short trade setup on Chevron. The $125.75 level is a major gap fill on the stock chart and oil is set to likely top out when it crosses $70/bbl. The combo of chart resistance on Chevron and a top in oil spell profit for shorts that are initiated on a swing trade basis at $125.75 or above. Gareth Soloway InTheMoneyStocks
Align Technology $ALGN Gets Slammed After Downgrade, Watch This Support Level Align Technology Inc (NASDAQ-ALGN) designs, manufactures and markets a system of clear aligner therapy for the misalignment of teeth. Last night, the stock was downgraded by Morgan Stanley (NYSE:MS). Today, the stock price is declining sharply lower by 9.58 percent to $250.52 a share. Traders should note that the stock is now trading below the 50-day moving average. This puts the stock in a weak technical position and will usually signal further downside in the near term. The stock will still have very good daily chart support around the $238.50 level. This area is where the stock was defended at the start of April. Please understand, daily chart support levels are usually good for about 3 to 5 trading days. Nicholas Santiago InTheMoneyStocks
Did you see this trade? Easiest swing trade setup in the world, already paying off almost $2, with much more to go. Gareth Soloway
Major Short Alert: Alcoa (AA) Tags Epic Trend Line Shares of Alcoa (AA) jumped higher after reporting a solid beat on their quarterly earnings call. The stock jumped as high as $62.35. This was a dead short. In fact, I alerted to a short at $62.15 based on an epic trend line hit and multiple extreme overbought signals. The stock price itself is up from $44 in less than three weeks. That is a 50% move just going into earnings. What did investors think? It was going to run-up another 50%? This is the lunacy of average investors who listen to the blabbing media. Learn to read the charts. They clearly show Alcoa as a strong short with a downside price target within days of $57 and longer term, $50. Already, $2+ in the money in just hours. Gareth Soloway InTheMoneyStocks
Is The Chart Pattern In The iShares China Large-Cap ETF Signaling Lower Prices Ahead? One of the most popular way for traders and investors to trade and track the Chinese stock market is to use the iShares China Large-Cap ETF (NYSEARCA:FXI). This ETF includes Chinese companies such as China Construction Bank Corp, Tencent Holdings LTD, China Mobile LTD, CNOOC LTD and many others. Currently, the daily and weekly patterns in the FXI have shown choppy sideways consolidation. This consolidation pattern that is forming comes after a sharp decline from a January 26, 2018 peak. This indicates that the next major move for the FXI will be lower. The next important support level will be around the $43.00 a level. This area is where the stock broke out in August 2017. Often, prior levels will be solid support when initially retested. Nicholas Santiago InTheMoneyStocks
Procter & Gamble Co $PG Nearing Swing Trade Buy Support Shares of Procter & Gamble Co (NYSE: PG) continue to fall lower after poor quarterly results. The stock is now nearing major support at $70.00 from a high of over $90 in early January 2018. This epic fall is overdone and due for a major technical bounce. There is a major support trend line that can be found by connecting the lows going back to 2011 (note the chart below). Big money is looking to accumulate in the $70 range for a trade back to $75-$80. Valuation is also extremely attractive at the $70 level. It is rare to get a blue chip company at such a steep discount to where it traded just a couple months ago. Gareth Soloway InTheMoneyStocks
Big Buy Level On Alcoa $AA Approaching Shares of Alcoa (AA) have been on a wild ride. In April 2018, the aluminum player surged almost 50% into earnings. After reporting solid quarterly numbers, Alcoa fell as profit taking took over. Today, the stock is falling 14% after news that a Russia producer of aluminum may be exempt from sanctions. The stock is in free-fall which is great for us as swing traders. I alerted to a major short last Thursday at $62.15. With the stock trading at $51.65 just two days later, I am now starting to scope out a buy level. The technical level of support to buy is $50.00. This will yield a major bounce. Swing trading is the only way to trade in this market. The whips in stocks make it the only way to generate huge returns. Gareth Soloway InTheMoneyStocks
Freeport McMoRan $FCX Plunges After Earnings, Know This Trade Level Earlier today, leading copper and gold producer Freeport McMoRan Inc (NYSE:FCX) reported earnings. The stock is plunging lower by more than 9.0 percent to $17.03 a share. Trader and investors must note that FCX stock is now trading below its 50 and 200-day moving averages. This decline signals weakness on the charts and further downside is likely in the near term. While the stock will have some support around the daily chart 200-day moving average at $16.00 the better and stronger support is still lower. The next major support level for FCX will be around the $14.50 area. This is where FCX broke out in early December 2017. As you all know by now, prior break-out levels will serve as excellent chart support when initially retested. Nicholas Santiago InTheMoneyStocks
Teradyne Inc $TER Gets Smoked After Earnings, Buy It Here... Teradyne Inc (NYSE:TER) is leading manufacturer of test systems for the automotive industry, data communications, semiconductors, and complex electronic systems. Earlier today, the company reported earnings that are not being well received by the markets. TER stock is trading lower by 14.4 percent to $35.50 a share. The stock is now trading below its important 200-day moving average. This indicates chart weakness and likely further downside in the near term. Traders should now watch for short term daily chart support around the $32.35 level. This support area will be where the 100-week moving average is at. It also coincides with chart support from July 2017. Often, this combination will serve as a bounce level for the stock. Nicholas Santiago InTheMoneyStocks
Major Support Tagged On Qualcomm $QCOM Ahead Of Earnings Shares of Qualcomm Inc. (QCOM) continue to sink for the sixth straight day. However, today is different. Qualcomm is hitting major technical double bottom support on the daily chart at $49.00. The stock is down from near $69 just a couple months ago on buyout speculation. With earnings scheduled for after the close today, investors should be cautious, with a slight bullish edge. I personally like the chart here heading into earnings, even in this rocky market. The even number of $50 crossing plus a time count add to my bullish bias. I would not be shocked to see a bounce back to $53 on earnings today. Gareth Soloway InTheMoneyStocks
