Even With The Markets Crashing, I'll Be Buying Stocks As you all know, stocks are tumbling and volatility is soaring. Fear is now starting to creep into the marketplace. Traders and investors are now getting very defensive and doubting themselves when it comes to every move they make. This is natural and understandable when stocks fall so quickly. Now traders must start to look for major support levels on the charts for long side trades down the road. Personally, I have compiled a long list of equities that I would like to buy when my major support levels are reached. We do this by using the charts and the technical tools that tell us where the support levels are located. Learn to use the charts and eradicate the fear that cripples so many traders in volatile times. Nicholas Santiago InTheMoneyStocks
NASDAQ 100 (QQQ) Hits Key Support, Bounce Expected Take note of the NASDAQ 100 (QQQ) as it hit a major support today. This should start a near-term bounce higher. Look for the QQQ to trade back to as high as $180 before the next leg lower. Gareth Soloway InTheMoneyStocks
$TOL downgraded today after putting in a bottoming tail yesterday. Stock at 52 week/multi year lows. Analysts downgrade these things at lows with bullish charts so their buddies can accumulate on panic sellers. Sure enough, after a gap lower, TOL positive. Classic! #WeBought - Gareth Soloway
This Private Equity Stock Is On The Radar The Blackstone Group L.P (NYSE:BX) is a leading private equity company that has fallen recently as the markets come under selling pressure. Traders and investors should note that BX stock topped out on September 24, 2018 at $40.60 a share. Today, the stock is testing its 200-day moving average at $34.38 a share. Should the shares break below the important 200-day moving average on a closing basis it would indicate near term weakness and lower prices ahead. The next key support level for stock would be around the $32.00 level. This area is where the stock was defended in July and would likely be a solid support area again when retested. I will be looking to Trade BX on the long side around this key support level. Nicholas Santiago InTheMoneyStocks
Bank of America $BAC Just Broke Down: Here Is The Target Shares of Bank of America (BAC) broke major support today. Pro traders expect the stock to continue lower to the $25 pivot support level. Once there, a swing buy gives a high reward, low risk trade setup. A 10% bounce is likely off that level. Gareth Soloway InTheMoneyStocks
Many traders were emailing me asking if this is the low in the market, the answer is no. Last night, I revealed all of the levels in the Daily Market Report. $SPY, $DIA, $IWM, $QQQ, & more in play!
3M $MMM Gets Slammed After Earnings, Know This Trade Level This morning, leading industrial stock, 3M Co (NYSE:MMM), is trading lower by 6.25 percent to $188.05 a share. Earlier today, the company reported earnings that disappointed the street. There is also chatter that a stronger U.S. Dollar hurt the company's earnings. Traders should note that 3M stock peaked out in late January 2018 at $259.77 a share. Since that high price in the shares, the stock has sunk lower by more than 27.0 percent. The stock is now trading below its important 50 and 200-day moving averages. While this is certainly a sign of weakness, the 200-week moving average was also tested and so far has held as support. A break below this key level on a weekly closing basis should signal more downside for the stock. The next major support level will be around the $170.00 area. This important support level is where the stock was defended in November 2016. Very often, when a stock back-tests a key pivot it will be defended by the institutional money. Nicholas Santiago InTheMoneyStocks
United Technologies Corp $UTX Retreats, Here's The Trade Yesterday, leading Dow Jones Industrial Average component, United Technologies Corp (NYSE:UTX), reported earnings that was well received by the street. Unfortunately, the stock is giving back all of its gain from yesterday and is close to making new 3-month lows. The stock is now trading below its 50 and 200-day moving averages, this is a sign of weakness in the near term. The next important support level for UTX stock will be around the $120.00 area. This level is where the stock was defended in May 2018 and will likely serve as important support again when retested. Nicholas Santiago InTheMoneyStocks
Major Pivot Support On Nvidia Corp $NVDA Approaching Shares of Nvidia Corp (NVDA) have taken a cliff dive in recent weeks. A month ago Nvidia was trading above $290, it now sits at $210. This epic fall gives patient traders a great opportunity. The $200 level offers a key gap fill support point on an extreme oversold stock. Pro traders expect a BIG bounce here, likely 10-20% within weeks. Gareth Soloway InTheMoneyStocks
Shake Shack $SHAK Looks Yummy At This Trade Level Leading restaurant stock, Shake Shake Inc (NYSE:SHAK), has been falling with the major stock market indexes lately. This is a stock that I have been looking to own at the right price or chart pattern, but it never seems to give me the setup that I have been looking for. At this time, I will be eying the $46.00 area. Currently, SHAK stock is trading around the $53.00 level, so it must still drop a bit more before reaching my level. The company is scheduled to report earning on November 1st, 2018. Should the stock decline down to the $46.00 level I would most likely to be a buyer around that area. Nicholas Santiago InTheMoneyStocks
