Trade Lesson: Using Past Break-Out Levels As Support One of my favorite techniques over the years has been to use past break-outs to find support on the charts. I simply look at a weekly or monthly chart and see where a stock formed a base or long sideways consolidation pattern. Then the next step is to just look where the stock broke out from that sideways base. The key here is to look and see if the break-out had volume behind the move to the upside. If there was heavier volume behind the break-out bar in the equity then it tells us that there was institutional support here and this will generally be solid support when retested. Remember, institutional buying moves markets not the individual investor. It is also important to use and find other technical chart factors to go along with that back-test in the stock. If another factor is there then the odds just increased dramatically that this will be a solid high risk / reward trade setup. Nicholas Santiago InTheMoneyStocks
Watch This Key Trade Level For Microsoft $MSFT Microsoft Corp (NASDAQ-MSFT) has been one of the leading tech stocks in 2018. Since the stock market correction began this tech giant has come under severe selling pressure. The stock peaked on October 3rd at $116.18 a share. Since that high pivot, the stock has declined down to the $102.20 level where it is trading today. It should be noted, MSFT stock is still trading above its important 200-day moving average which is at $100.68. Should the stock close below this key moving average then it would signal more weakness in the near term and further downside for the shares. The next major support level for the stock would be around the $95.00 level. This is where the stock was able to break-out of a choppy base in late May 2018. Often, the institutional money will defend a stock when it back tests a prior break-out area. Keep this level on the radar for a long side trade in MSFT stock. Nicholas Santiago InTheMoneyStocks
This Is Why Amazon.com $AMZN Likely Bottomed At $1,476 Today Shares of Amazon.com (AMZN) has fallen 28% from its $1 trillion valuation day on September 4th, 2018. This monster fall wiped out hundreds of billions in market cap and sent investors running for the hills. However, smart money began accumulating today when Amazon.com broke below the $1,500 level. Why? Not only is the stock showing up as major oversold on multiple indicators (near-term) but Amazon hit a 50% Fibonacci retrace from the beginning of this mega move up (starting in September 2017). In other words, almost 1 year to the day, the up-move took place. We have now retraced 50% of that move. Smart money expects a bounce now back to $1,650 on Amazon.com shares. Gareth Soloway InTheMoneyStocks
Kellogg Co $K Gets Chewed Up After Earnings, Here's The Trade This morning, leading manufacturer and marketer of cereal and convenient foods company, Kellogg Co (NYSE:K), is trading sharply lower after reporting earnings. Kellogg (NYSE:K) stock is trading lower by 8.0 percent to $66.11 per share. The stock is now trading below it's important 200-day moving average which is generally viewed as a sign of weakness and further downside to come. The next key support level for Kellogg stock will be around the $62.00 level. This is where the stock was defended on June 2nd and it will likely be supported again when retested. Traders that are looking for a level to get into Kellogg stock on the long should watch this area closely. Nicholas Santiago InTheMoneyStocks
$SPY Stock Market Chart Level Alert... The $SPY is stalling at the hourly 200-Moving Average $278.37 on the chart. As noted below, a 60-minute time frame close above this key resistance level will trigger a move to the $281.00 level. Watch the pattern over the next few hours. Nicholas Santiago InTheMoneyStocks
Retail Stocks Day Trade Levels For Acton Now, $XRT, $KORS... Retail stocks $XRT are on the weak side today after $KORS earnings. Day traders can watch the $47.50 area for intra-day support on the $XRT. Nicholas Santiago InTheMoneyStocks
NASDAQ 100 $QQQ Upside Target & Short Trigger The NASDAQ 100 is surging today following the Democrats retaking the House. The reason for the rally? Just days ago, President Trump threatened to file anti-trust cases against the big tech companies and claim they were monopolies. Investors believe that the Democrats will neutralize that threat in the near-term. As tech surges higher, investors should be ready to pull the trigger on the short side when price hits $178.00. This is a major technical resistance and all technical chart signals show another leg down in the market. Gareth Soloway InTheMoneyStocks
$SQ is getting hammered this morning. The stock is on my day trading radar around the $73.35 area. Lets see if it gets down there, the level looks solid right now - Nick S.
Bed Bath & Beyond $BBBY Shows First Bullish Chart In Ages Shares of Bed Bath & Beyond (BBBY) have fallen since 2014 with almost no bounces. Many expect it to head the same way as Sears Holdings (SHLD) and it very well may years from now, but there is a great swing trade bullish setup first. Swing trades are near term investments with an outlook of days to weeks. The current pattern shows the stock putting in a significant bottom and now forming a bull flag. This bull flag likely signals a move higher in the next few weeks to $18.90, a gain of over 30%. Considering the holiday season is upon us and consumers are likely to spend record amounts, it is not hard to believe a bounce is at hand. Cheers to a nice swing trade on Bed Bath & Beyond. Gareth Soloway InTheMoneyStocks
CHART ALERT: $GE Key Level To Trade... $GE just hit technical support at $8.25. Note the chart below. If it does not hold this, $5.80 is the 2009 low double bottom low. Gareth Soloway InTheMoneyStocks
