This Specialty Chemical Company Is Now Getting Attractive $ALB Albemarle Corporation is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The stock topped out in November 2017 at $144.99 a share. Since that high pivot, the shares have steadily declined and are now trading at $73.81 a share. Traders and investors should note that stock is now trading near its 2016 break-out area. Often, the institutional money will start to defend stocks when they retest prior break-out points. One particular level that I will be watching closely is going to be the $70.00 area. This is where the stock surged in May 2016 with volume. This looks like a solid level for a long side swing trade in the stock. Nick Santiago InTheMoneyStocks
Financial Surge Nearing End, Here Is The Short Trade Poor earnings by Citigroup (C) and JPMorgan Chase (JPM) have given investors a chance to buy the dip and they did... Both stocks opened lower after reporting their earnings. However, quickly investors bought and the stocks surged higher. Both stocks are entering overbought territory and likely to pull back in the coming days. The biggest tell for the financial sector is the $XLF, the financial ETF. The ETF is approaching the daily 50 moving average and a major pivot from October 2018. The combination of these two factors gives a short trade on the XLF at $25.25 a high reward, low risk success rate. Keep it on your radar. Gareth Soloway InTheMoneyStocks
This Pharma Giant $JNJ Is Still Struggling Despite Market Rally, Know This Trade Level One giant pharma stock that I have been following lately is Johnson and Johnson (NYSE:JNJ). Last month, the stock plunged lower after news was reported that the company could still have issues regarding its popular baby powder product. On December 13, 2018, the shares traded as high as $148.58 a share. On December 24, 2018 the shares traded as low as $121.00 before finding a near term bottom with the major stock market indexes. Today, JNJ stock is trading at $128.42 a share. So while the shares have certainly bounced higher they have not come close to their December 13th high. In fact, the stock is signaling weak relative strength at this time. Traders should note that the stock is still trading below its important 200-day moving average, this is actually a sign of weakness. Should the stock break below the key $121.00 support level it would trigger another sell signal in the stock. The next major support level for JNJ stock would be around the $113.00 area. Right now, JNJ is hanging in there, but this is a stock that I will be watching closely. Nick Santiago InTheMoneyStocks
Here's The Trade Level For This Leading Gold Mining Stock Earlier this week, leading gold miner, Newmont Mining Corp (NYSE:NEM) acquired Goldcorp Inc (NYSE:GG) for $10 billion in stock. The news caused NEM stock to decline by roughly 6.0 percent. Often, the company that acquires another business will often see its share price decline. Today, NEM stock is trading around the $31.42 level. Traders should note that the stock is now below its key 50-day moving average which puts it in a weak technical chart position. It is also trading below its important 200-week moving average which should add further pressure on the stock in the near term. The next key support level for NEM stock will be around the $26.50 area. This is a level where the stock broke out in April 2016. Remember, stocks are often defended on a retest of their prior break-out levels. Nick Santiago InTheMoneyStocks
General Electric $GE Breaking Out Of Bull Flag Range General Electric (GE) is one of the best performing stocks over the last month, up a whopping 34%. Over the last week, the stock has consolidating, forming a bull flag. This is a signal of significant upside on the horizon. Today, General Electric is beginning to breakout. The first upside target is $10 and could be seen within days. Note the chart below. Gareth Soloway InTheMoneyStocks
On Days Like This Watch For Stocks That Are Showing Relative Strength $SBUX Today, all of the major stock indexes are declining sharply lower falling by more than 1.0 percent on the session. This decline comes after a huge rally that started on December 26, 2018 and lead to a near term overbought condition. Whenever you see a big broad based decline such today it is important to look for stocks that are holding up in this sell off. A few stocks that are trading higher today include Starbucks Corp (NASDAQ:SBUX), McDonalds Corp (NYSE:MCD) and Chipotle Mexican Grill Inc (NYSE:CMG). The one thing these stocks have in common is that they are all restaurant stocks. Now if these market indexes decline further over the next few days or weeks it will be important to see how these key stocks hold up over that time period. In fact, the restaurant sector should be watched closely. These stocks could emerge as the leaders in the next rally. On days like this it is always important to watch for stocks that are showing relative strength. Nick Santiago InTheMoneyStocks
Trade Lesson: One Method I Use To Spot Tops & Bottoms Many traders will often ask me how I spot market tops and bottoms. This is not an easy process, but there are many factors that go into the skill. One easy to learn factor that almost anyone can recognize is extreme volume around a new low or top. For example, if a trader looks at a SPY chart of the low made on February 9, 2018 they will notice a nice bottoming tail pattern with 283.5 million shares traded that day. The SPY also hit the 200-day moving average that session which is sometimes a supporting factor. That reversal rally that took place that session to massive energy. Remember, the SPY made a new intra-day low at the start of the trading session and then reversed closing near the high of the session in positive territory. That is the markets way of talking to you. Here is another example, the recent Christmas low. On December 24 (Christmas Eve), the SPY sold off on heavy volume, especially for a half day trading session. In fact, that day the SPY closed right on the low of the day at $234.27. The equity also made a new 52-week low that day and had almost everyone in the market frightened to death. The very next session (December 26, 2018) the SPY traded below the December 24th low at $233.76 before staging a massive reversal day. On December 26th, 2018 the SPY closed at $246.18, now that is some serious price action. The volume in SPY that session was 218.48 million shares. Anytime a market reverses with high volume the equity has a chance to make a significant low. I also had several other factors pointing to a major reversal on that session, but even if you did not know anything else you can enter long trade with a stop below the December 26, 2018 pivot. Traders and investors must remember high volume reversals are powerful and can be often used to spot tops and bottoms. Obviously, there are many more factors that should be incorporated into this, but this is an easy tip to identify for the beginner chart reader. Nick Santiago InTheMoneyStocks
This Leading Auction Stock Is Struggling To Catch A BID, Know This Trade Level $BID This afternoon, leading fine art auction company, Sotheby's (NYSE:BID) is trading lower by nearly 5.0 percent to $39.01 a share. This stock peaked in June 2018 at $60.16 a share. Traders can easily see how the stock has been very weak lately and trading in a choppy range over the past few months. It is important to note that the stock is trading below its 200 and 50-day moving averages. Traders must now watch for lower prices ahead in the near term. One level that catches my eye for this stock is around the $33.50 area. This level is where the stock broke out in August 2016. Often, stocks will be defended when they retest prior break-out levels. Nick Santiago InTheMoneyStocks
