Procter & Gamble Co $PG Nearing Gap Fill Procter & Gamble Co (PG) continues to push higher as shorts cover and money flows to safer, high-dividend plays. With a move from under $71, Procter & Gamble hovers above $77.50. However, investors should be aware of a major gap fill resistance level coming into play at $78.20. Once hit, expect Procter & Gamble to pull back to $75.50 as consolidation takes hold. Only then should investors think about buying the stock for the next leg up. Gareth Soloway InTheMoneyStocks
Honda Motor Co Ltd ADR $HMC Is On My Radar Honda Motor Co Ltd ADR(NYSE:HMC) is a leading Japanese manufacturer of automobiles, motorcycles and power products, including general-purpose engines, generators, water pumps, lawn mowers, riding mowers, grass cutters, brush cutters, tillers and snow blowers. The stock topped out in February 2018 at $37.29 a share. Since that high pivot, the stock has declined. Today, HMC stock is trading around $32.36 a share. Traders should note, HMC stock is trading below it's important 50 and 200-day moving averages. This formation puts the stock in a weak technical position on the charts. Traders must now look lower for major support. The next important support level for HMC stock should be around the $30.50 level. This is a major retrace level and also an area where the stock broke out in October 2017. Often, this level will be defended by the institutional crowd when tested. Nicholas Santiago InTheMoneyStocks
Transports $IYT Have Eyes On Double Top Shares of the Transportation ETF (IYT) continue to surge higher with eyes on the double top at $206.00. Based on the recent breakout in the Index, it is likely this target will be achieved within the next week or two, heading into the major cycle period that lasts between July and August 2018. Gareth Soloway InTheMoneyStocks
Natural Gas Begins To Breakout $UNG The commodity natural gas just broke out of a consolidation triangle. Natural gas storage is at a multi-year low in the United States and while oil is near multi-year highs, natural gas is just coming off multi-year lows. This recipe sets the stage for a solid surge in natural gas. Look for natural gas to trade up 20% in the coming months, realigning itself with the move in oil.
Mylan Drops After FDA Finds Deficiencies In Its Version of Advair, Watch This Level Shares of the pharmaceutical giant, Mylan NV (NASDAQ:MYL), are falling by nearly 5.0 percent to $39.70 a share. The sharp decline in the stock comes after the FDA said that it found minor deficiencies in Mylan's generic version of Advair. Today, the stock is fighting to stay above its important 50 and 200-day moving averages. A close below these key support levels will signal further downside in the stock price. Either way, should the stock decline further from current levels the next major support area would be around the $35.00 area. This is where the stock broke out on early May 2018 and should be defended by the institutional crowd if retested. Nicholas Santiago InTheMoneyStocks
Best Risk vs. Reward Short Trade Setup On Alphabet $GOOGL Shares of Alphabet (GOOGL) are surging again as best of breed technology stocks are the 'in' thing. Every investor wants some, no matter the price. I am sitting back, allowing the average investor to pile in until Alphabet hits $1,181.50. Why this level? It offers the best technical setup trade short, with the smallest risk to biggest reward. Let me explain... The $1,181.50 level is a major gap fill, unfilled at this point. In addition, it is within 1% of the all-time high which is also a double top. This gives added resistance and adds to the short trade chance of success. Now that we have a technical trade level, let's look at the risk versus reward. First, the reward would be a fall with days to $1,120, with a second target over the following month to $1,000. The risk to the trade is tiny as any confirmation above the all-time high of $1,198 would stop you out. So in reality, the reward is $61 - $180 while the risk is a tiny $16.50. That is the type of trade worth taking in my humble opinion. Gareth Soloway InTheMoneyStocks
Verizon Remains Weak On The Charts, Know This Trade Level Verizon Communications Inc (NYSE:VZ) has been falling lower over the past week. Many traders and investors are now expecting Verizon to get into the acquisition game since AT&T Inc (NYSE:T) and Time Warner Inc (NYSE:TWX) received approval to merge. Either way, the charts are telling me the stock should continue to trade lower in the near term. The $45.00 area is where there should be major chart support when tested. This important support area is where the stock was defended multiple times in 2017 and will likely be defended again. Nicholas Santiago InTheMoneyStocks
Tesla $TSLA Now Headed For $390 Target Shares of Tesla (TSLA) are back in style as the stock continues to surge towards its target of $390. It seems as though Elon Musk has regained his mental clarity and is leading the company forward. Investors believe the production targets will be met and all is good in Tesla world. If the stock continues to surge higher, I expect $390 to be hit and crossed. I have a short trade setup at $405.
Casino stocks are down today. $WYNN, $LVS & $MGM are all negative. Watch intra-day support for $WYNN @ $168.25 - Nick
Know This Trade Level For This Major Defense Stock Most of the leading defense stocks topped out in late April 2018. Since that pivot top, many of the leading stocks in the defense sector have declined by 10.0 percent or more. Raytheon Co (NYSE:RTN) is a stock that has now caught my eye. This stock is now testing its 200-day moving average. A failure to hold this key support level should signal another decline in the stock. The next major support area that will come into play will be around the $188.00 level. This is where RTN stock broke out of a sideways base in January 2018. A retest of this important level will likely be defended by the institutional money crowd. This is where I would look to enter a long position in the name. Some other leading defense companies that I follow include Lockheed Martin Corp(NYSE:LMT), General Dynamics Corp (NYSE:GD) and Northrop Grumman Corp (NOC:NYSE). These defense stocks are also on my radar for trading opportunities. Nicholas Santiago InTheMoneyStocks
