Michael Kors $KORS Is Tanking After Possible Versace Deal, Know This Trade Level Earlier today, it was reported that Michael Kors Holdings Ltd (NYSE:KORS) was in talks to buy Versace group for $2.4 billion. This news is causing KORS stock to plunge lower by more than 8.0 percent to $66.73 a share. So far today, the stock has been defended at its 200-day moving average around the $66.00 level. A failure to close below this key support area would trigger another leg lower for the stock. The next major support area for KORS stock will be around the $59.50 area. This is where the stock was defended in June 2018 and will likely be defended again when retested. Nicholas Santiago InTheMoneyStocks
Alert: Dow Transports $IYT Stall And Breakdown The Dow Transports (IYT) are catching the eye of pro trader today because of a significant break lower. The iShares Transportation ETF (IYT) broke below the daily 20 moving average on higher than average volume. In addition, the breakdown has taken the transports below the January 2018 pivot high. This move below is a major indicator of trouble for the overall market. Pro traders are keeping a close eye on the transports for the remainder of the day and discussing getting much more defensive. The transports are looked at as a major leading indicator for the domestic economy. A sharp drop in the transports will likely signal a coming drop in the stock market. Gareth Soloway InTheMoneyStocks
Nutanix Inc $NTNX Target Buy Level Revealed Shares of Nutanix Inc (NTNX) are falling again, now over 30% from the recent highs. The stock should continue to fall until it tags $38.25. This level is major support and will likely see an extended bounce higher. Gareth Soloway InTheMoneyStocks
Target Corp $TGT Chart Signals Trouble Shares of Target Corp (TGT) are signaling a strong sell. Just two weeks ago, the stock chart put in multiple topping tails showing major distribution but big money. As the S&P hit new all-time highs over the past week, Target shares fell. In the last few days, those same tail formations are beginning again, signaling more distribution. It is likely Target Corp will start to break lower in the coming days, headed for the $80 target. Gareth Soloway InTheMoneyStocks
Bitcoin $BTC Not Out Of The Woods Just Yet... Crypto-currency Bitcoin $BTC is still stuck in a purgatory of sorts, trading in a range between a down-sloping trend line and an up-sloping trend line, forming a triangle. This can be seen in the chart below. Please be aware that it is imperative Bitcoin holds $6,225. If it breaks, downside could still be $4,900. On the upside, if Bitcoin can break up through $6,650, it could easily trade back to $10,000 within weeks. Gareth Soloway InTheMoneyStocks
$KBH gave up all of its pre-market gains and is now trading lower by $1.05. Some home-builders are now on my radar as possible day trades. $TOL, $LEN & $DHI are all in play. $TOL should have intra-day support around the $34.00 area - Nick S
Know This Trade Level For This Leading Regional Bank Stock As you all know, many of the leading regional bank stocks have been lagging the major stock indexes recently. One bank stock that has struggled over the past few weeks is SunTrust Banks Inc (NYSE:STI). This stock topped out on August 21, 2018 at $75.08 a share. Since that high pivot in the stock, the shares have tumbled and are now trading at $69.09. The company is scheduled to report earnings on October 19, 2018, so I would not expect a major move in the stock before that time. One level that has caught my eye as major support would be around the $64.50 area. This is where the stock broke out in December 2017. please note, the level was also back-tested in February 2018 before moving to new highs. This tells me that is where the institutional money will defend the equity when retested. Nicholas Santiago InTheMoneyStocks
Microsoft Corp $MSFT Max Upside Short Level Revealed Shares of Microsoft Corp (MSFT) continue to climb higher, breaking $115.00 today, a new all-time high. Investors continue to enjoy the move on this old school tech giant. However, after charting the Microsoft chart, it appears the max upside is at $117.25. This means that investors and swing traders can look to accumulate a short position there for a retrace pullback once that max move level is hit. This level comes from a simple trend line, connecting the recent highs from 2018. Simply connect the high from January 2018 to the high of July 2018. Extend that line out and it stretches to $117.25. Because each of those pivots saw a sharp retrace, logic dictates a pull back once it that trend line is hit again. A pull back of at least 10% is expected. Nicholas Santiago InTheMoneyStocks
Conagra Brands Sinks After Earnings, Here's The Trade... This morning, leading food company, Conagra Brands Inc (NYSE:CAG), is trading lower by more than 6.0 percent after reporting earnings. Traders should note that CAG stock is now trading below its important 200-week moving average. This is very negative formation for the shares near term and will usually indicate lower prices ahead for the stock. The next key support level will be around the $30.00 area. This important support level was defended in February 2016 and would likely be defended again when initially retested. It will be important to see the chart pattern when the stock trades down to this support level. As you know, most of the leading food stocks have come under selling pressure over the past year and this trend does not look like it will change anytime soon. Nicholas Santiago InTheMoneyStocks
Key Trend Line To Watch On Exxon Mobil $XOM Shares of Exxon Mobil (XOM) are stalling today, just days after hitting a major trend line on the daily chart. This trend line marks a key resistance point for the stock. As long as the stock remains below this trend line, expect weakness and a possible pull back over the coming weeks/months. However, if the stock pushes above this trend line, I expect an easy 10%+ of upside. \ Gareth Soloway InTheMoneyStocks
F5 Networks $FFIV Falls Sharply, Here Is The Bounce Level Shares of F5 Networks (FFIV) are seeing a sharp decline today, just 1 day after hitting an all-time high. As the stock falls, pro traders warn investors to stay away from buying F5 until major technical support is tagged. That level is at $182.75, a major pivot point. This is just a swing trade bounce level, not long term investment entry. Keep it on your watch list... Gareth Soloway InTheMoneyStocks
$SBUX is sliding lower today. I will be watching the $55.25 intra-day support level. This is where the stock broke out on September 19th and should be solid if tested later today.
This Regional Bank Stock Is Now On My Swing Trading Radar $RF Recently, many of the leading regional bank stocks have been pulling back and selling off. One particular bank stock that I have been following is Regions Financial Corp (NYSE:RF). This stock just put in a minor top on September 5th, 2018 at $19.99 a share. Today, the stock is trading around the $18.27 level. Please note, the stock is now trading below the 50 and 200-day moving averages which is an indication there should be more downside in the near term. The one level that looks solid for a potential long swing trade is around the $17.00 area. This is where the stock was defended around the mid-July time period and should be supported when retested. Nicholas Santiago InTheMoneyStocks
This Airline Stock Is Now On My Radar, Watch This Trade Level Recently, many of the leading airline stocks have been pulling back. Higher oil prices have certainly hurt the airline stocks since September 21, 2018 when they all made minor tops. Today, crude remains near its 52-week high and most airlines remain under selling pressure. One particular airline stock that I'm now watching closely is Delta Air Lines Inc (NYSEAL). This stock traded as high as $60.23 on September 21, 2018. Since that high pivot in the stock, the share have fallen below their 50 and 200 day moving averages. This is a sign of weakness and usually indicates lower prices ahead. Today, DAL stock is trading lower by $2.34 to $54.25 a share. The next key support area that I see for the stock would be around the $51.00 level. This is where the stock was defended in July and would likely serve as solid support again when retested. Swing traders should keep this level on the radar for along side trade. Nicholas Santiago InTheMoneyStocks
