Cardinal Health Inc $CAH Needs A Doctor, Watch This Level Today, leading healthcare services and products company, Cardinal Health Inc (NYSE:CAH), is coming under heavy selling pressure after reporting earnings. The stock is trading lower by more than 18.0 percent to $52.73 a share. Traders and investors should note that the stock peaked out in late January when it traded as high as $75.75 a share. Since that pivot high, the stock has been steadily declining making lower highs on the charts. The next major support level for CAH stock will be around the $47.40 level. This is where the stock broke out in July 2013. Often, when a stock declines this sharply it will retest its former breakout level before really stabilizing and moving higher. Nicholas Santiago InThoeMoneyStocks
Cardinal Health Inc $CAH Key Level For Traders Revealed Shares of Cardinal Health Inc (CAH) are being crushed today after the company reported poor earnings and guidance. Down almost 20%, investors are fleeing the name in panic. Whenever panic hits a stock, smart traders always head to the charts to find the key buy level. In the case of Cardinal Health, there is a major multi-factor PPT buy level at $46.90. Once there, investors should expect a strong bounce higher back over $50.00. Gareth Soloway InTheMoneyStocks
Here's The Level To Pour From The $TAP Last week, leading beer manufacturer, Molson Coors Brewing Co (NYSE:TAP) reported earnings that were worst than expected. The stock tumbled lower by 13.0 percent on May 2nd after the announcement. Traders should note that TAP stock is now trading sharply below its important 50 and 200-day moving averages. This formation puts the stock in a weak technical position and often signals further downside near term. The next major support level for TAP stock will be around the $51.00 area. This level is where the stock broke out in October 2013. Often, when a major break-out level from the past gets tested it will serve as major chart support. This is a trade level where I will be looking to go long on TAP stock. Nick Santiago InTheMoneyStocks
Apple $AAPL Hits Upper Channel Range, Signals Strong Short Swing Trade Shares of Apple Inc (AAPL) have soared in the past week, jumping over $25/share. This was a double whammy move. First Apple reported better-than-expected earnings, then Warren Buffet told the world he bought $75 million shares of Apple in the last quarter. While it is definitely great news for the biggest company in the world, the chart is now screaming 'overbought'. There is a great short swing trade on Apple at $187.50. The stock is tagging its upper trend channel range and will likely see a near-term pullback to $179.00 in the next week. See the chart below. Gareth Soloway InTheMoneyStocks
Watch This Trade Level For Cognizant Tech Solutions $CTSH Cognizant Tech Solutions (NASDAQ:CTSH) is a leading provider in IT consulting, technology and outsourcing services for companies. Yesterday, the stock plunged lower after reporting earnings that disappointed the street. Today, CTSH stock is falling lower by 2.03 percent to $76.28 a share. Traders and investors should note that the break-down occurred with extremely heavy volume signaling further downside in the near term. The next major support level for CTSH stock will be around the $71.00 area. This level is where the stock broke out of a bearish base in January 2018. Often, prior breakout levels will serve as solid support when retested. Nick Santiago InTheMoneyStocks
Keep This Trade Level On The Radar For Weibo $WB Weibo Corp (NASDAQ:WB) is a leading social media platform for people to create, distribute and discover Chinese-language content. The stock is plunging lower today by 13.5 percent after reporting earnings. Traders should note that the stock is now testing its important 200-day moving average at $110.40. A daily chart close below this major moving average should indicate further downside for the stock in the near term. The next major support level for the stock will be around the $94.00 area. This is where the stock rebounded from a downtrend back in October 2017. Generally, this important area will be defended when retested. This $94.00 area is where I would look to trade WB on the long side. Nick Santiago InTheMoneyStocks
Bed Bath & Beyond $BBBY Into Major Technical Support Shares of Bed Bath & Beyond Inc. have fallen off a cliff in the past few years. Once an $80+ stock, it now sits near $16.50, left for dead. However, smart traders are beginning to accumulate shares based on a technical double bottom support being tagged at $16.50. This is huge support and will likely see a strong bounce in the coming weeks/months. The upside target from this level could likely be $35.00. That is an over 100% move. Brick and mortar retail has been left for dead because of Amazon.com (AMZN). However, I believe it is well overdone and these companies will survive in some form or another. At current valuations, there is a ton of value to be had. Gareth Soloway InTheMoneyStocks
This Leading Gold Mining Stock Is Crushed, Here's The Trade Earlier today, leading gold miner, Randgold Resources Ltd (NASDAQ:GOLD), reported a 24.0 percent drop in Q1 profit. This news is sending the leading gold mining stock down by more than 7.0 percent to $76.45 a share. Traders should note that the stock is now trading below it's important 50-day moving average. This chart formation now puts the stock in a very weak technical position and indicates lower prices ahead. The next key support level for GOLD stock will be around the $71.00 level. This important support area is where the stock reversed higher back in December 2016. Often, a stock will be defended by the institutional crowd around these prior reversal levels. Nicholas Santiago InTheMoneyStocks
Major Short Level On Facebook $FB Tagged Shares of Facebook (FB) have surged from below $150 to over $185.00 in less-than six weeks. This 23% move in the stock is in response to the negatives of Cambridge Analytica being put behind them and a reflex technical bounce. However, the technical bounce has gotten far ahead of itself with greed. In addition, a major gap has just been felled at $185.05. This will trigger a pull back in the stock to a target of $168 in the near-term. As a swing trader, I look for opportunities like these. This is a high reward, low risk opportunity short trade. Gareth Soloway InTheMoneyStocks
Know This Trade Level For This Leading Consumer Products Company $CLX This morning, leading consumer products manufacturer, Clorox Co (NYSE:CLX), is declining lower by $1.88 to $118.66 a share. It should be noted that this consumer products industry group has been very weak since late December 2017. At that time, CLX stock was trading as high as $150.40 a share. It is easy to see that the trend remains down at this time for CLX and its peers. The next major support level will be around the $111.00 area. This is where the stock was defended in November 2016 and will likely be supported again when retested. Nicholas Santiago InTheMoneyStocks
