Facebook $FB Falls Sharply, Here Is The Obvious Target To Buy Shares of Facebook (FB) collapsed sharply today after some nasty analyst comments about regulation and growth. For those of you who have been following me, it is no surprise. There were warning signs almost as much as a year ago when big advertisers said they were no longer spending money on the platform. After the earnings drop, I also gave the price target of $160. The stock is headed there and likely within weeks. Look for major support for a swing trade bounce at $160. Nicholas Santiago InTheMoneyStocks
We have a tech wrech going on this morning! $QQQ are dropping lower by nearly $3.00 already. Wow, best day trading since June - Nick
Bank Stocks Show Relative Strength On Sell Off Day $JPM This morning, many of the large U.S. bank stocks are holding up well despite the early morning sell-off in the major market indexes. Leading financial giant, JPMorgan Chase & Co (NYSE:JPM), is trading lower by just 0.05 cents today. This stock has recently been consolidating on its daily chart and weekly charts. Generally, when a stock consolidates or forms a sideways base it is looking to move higher in the near future. This is a stock that is now on my radar for a potential long side trade. While the consolidation pattern may not be complete the potential upside in the stock is north of $120.00 a share. Other bank stocks that have similar patterns include Wells Fargo & Co (NYSE:WFC), and Citigroup Inc (NYSE:C), however JPM stock looks the best at this time. Nicholas Santiago InTheMoneyStocks
Major Break To Watch For On J C Penney $JCP J C Penney (JCP) is likely to name a new CEO soon. Should the name be big and investors gain confidence, look for the stock to surge back to $2.40. That would be an almost 50% move in the stock. To add fuel to the fire for a surge higher, I am watching the stock chart. There is a classic bullish pattern starting to form. Should J C Penney move above $1.80, the breakout will begin. See the chart below for a visual. Please note, any break of the all time low of $1.60 would trigger the stop. Gareth Soloway InTheMoneyStocks
$KLAC Is Getting Clocked, Here's My Swing Trade Level This morning, the leading semiconductor equipment stocks are tumbling lower. Leading stocks such as KLA-Tencor Corp (NASDAQ:KLAC), Applied Materials Inc (NASDAQ:AMAT) and Lam Research Corp (NASDAQ:LRCX) are all trading down by 3.0 percent or more. The big loser in the industry group is KLA-Tencor Corp (NASDAQ:KLAC). The stock is falling lower by 8.65 percent to $108.56 a share. The stock has very solid daily chart support around the $107.30 level, this area was successfully tested earlier today. Should KLAC stock fail to hold this support area on a daily chart closing basis then it would signal another decline in the near term for the shares. The next key support area for KLAC stock would be around the $103.00 level. This support area was where the stock was defended in late July and will likely be defended again if retested. I will be watching this level closely for a long trade in the next few weeks. Nicholas Santiago InTheMoneyStocks
Major Buy Level On Alphabet Inc $GOOGL Revealed After major chart analysis on shares of Alphabet Inc (GOOGL), the top pro traders in the expect it to fall sharply to the $1100.00 level before finding major support for a swing trade buy. This level represents a 61.8% Fibonacci retrace of the March to July 2018 move as well as a cross of the daily 200 moving average. Gareth Soloway InTheMoneyStocks
Alibaba $BABA Falls Again, Where Is The Bottom? Recently, the leading Chinese ADR's have come under some severe selling pressure on the back of the U.S. / China trade wars. The important and highly followed Shanghai Index (Chinese stock index) is trading down by more than 18.0 percent this year and still looks to be weak on the charts. The top Chinese ADR is Alibaba Group Holding Ltd (NYSE:BABA). The stock peaked out on June 5, 2018 at $211.70 a share. Since that high pivot in the Chinese giant the stock has declined by more than $54.00 (-25.6%) a share. Earlier today, Alibaba Chairman Jack Ma announced that he will be stepping down from his post at the company and the stock is sliding again. Many traders are now wondering where the bottom will be for this stock that is often called Amazon of China. Traders and investors should now watch the $153.00 level. This level is where the stock broke out in August 2017. Often, prior breakout levels will serve as excellent support when retested. Please understand, all Chinese ADR's will be vulnerable until the Shanghai Stock Index finds a low on the charts. For this reason, the way that I will likely play this trade level on the long side will be by using call options. Nicholas Santiago InTheMoneyStocks
Price Retrace: This Is Where Apple Inc $AAPL Is Headed Shares of Apple Inc (AAPL) are tanking again after President Trump tweeted that they need to move production of the iPhone and other products to the United States to avoid steep tariffs. As a chart technician, the stock is making an expect pull back after a monster run from $190 to nearly $230. The retrace is expected to bring Apple Inc back to its up-trend level at $200/share. Once there, Apple becomes a strong buy again. Gareth Soloway InTheMoneyStocks
Micron Tech $MU Major Swing Trade Level Shares of Micron Tech (MU) continue to fall, trading as low as $42.35 on today. The high for 2018 was near $65.00. As this semiconductor falls, investors are searching for a major support level to buy. The level is not far away and will likely be seen within weeks. The master swing trade level is $39.65. Investors should expect a multi-week to month bounce off this level, good for at least 10% in price appreciation. Gareth Soloway InTheMoneyStocks
Watch This Leading Chip Stock At This Trade Level $TXN Texas Instruments Inc (NASDAQ:TXN) is a leading chip stock that has been declining since late January 2018. At that time, the stock traded as high as $120.75 a share. Today, TXN stock is trading at $107.15 a share. Traders and investors should note that the stock is still holding its 50-week moving average around the $107.00 level. A weekly chart close below this key support level would indicate another decline is in store for the shares. The next major support level for TXN will be around the $100.00 area. This is where the stock was defended in April and will be the next major support level for the stock. I will be watching TXN closely at this level for a solid buying opportunity. Nicholas Santiago InTheMoneyStocks
OverStock.com $OSTK, The Bitcoin Play Is Ready To Bounce Shares of OverStock.com (OSTK) have fallen from a 52 week high of $90 to a low today of $24.80. It also marks major support on the weekly chart. Namely, the stock has hit former major pivot support at $25 as well as the weekly 200 moving average. Look for a strong bounce higher into the mid-$30s on Overstock.com. This likely will be accompanied by a jump higher in Bitcoin. Gareth Soloway InTheMoneyStocks
This Leading Bank Stock Just Broke Below Its 200-Day Moving Average, Here's The Trade This morning, many of the leading bank stocks are declining in today's trading session. Wells Fargo Co (NYSE:WFC) is a leading financial stock that has caught my eye. The stock is trading lower by $1.29 to $56.09 a share today. It has also broke its important 200-day moving average, which is a negative position for the stock. There are still many support levels still in play for WFC stock, but this sign of weakness should lead to further downside in the coming weeks. Traders and investors should note that the next key support area for WFC stock will around the $52.00 level. This important level was defended in late April 2018 and will likely serve as major support when retested. This is a level that I will be watching closely for a long side trade in this banking giant. Nicholas Santiago InTheMoneyStocks
Bear Flag Breakdown Alert: CSX Corp $CSX Shares of CSX Corp (CSX) just broke down from a bear flag formation. This signals sharp leg lower on the stock, culminating with a target of $64.50. A bear flag is a classic technical setup and formed following a reversal candle off all-time highs on CSX Corp. The break below the flag pattern triggers the next leg lower. See it in the chart below. Gareth Soloway InTheMoneyStocks
