Ross Stores $ROST Heads South, Watch This Trade Level Ross Stores Inc (NASDAQ:ROST) is a leading discount retailer in the United States. The stock has been under pressure since reporting earnings on March 5, 2019. Today, the shares are trading lower by $2.20 to $88.48 a share. Trader should note that the stock has now declined below its daily chart 50 and 200-day moving averages. This is usually an indication of further weakness ahead for the stock. Traders should now watch the $82.50 area for important support. This level is where the stock broke out of a down trend in early January. Generally, the institutional money will defend this area when it is retested. Nicholas Santiago InTheMoneyStocks
Utility Stocks Retreat, But The Run Is Not Over Yet The Utilities Select Sector SPDR Fund (NYSEARCA:XLU) has been on an amazing run higher since December 26, 2018. It should be noted that when interest rates decline the utility stocks will generally move higher and that is exactly what has occurred. On December 26, 2018 the popular XLU traded as low as $50.81 a share before breaking out to new 52 week highs. On March 14, 2019 the XLU traded as high as $58.74 a share before staging a minor pullback. Today, the XLU is trading around the $57.55 level. Traders and investors can easily see that the trend is up on the XLU and that another pullback in the ETF is a likely buying opportunity. At this time, the $55.00 area looks like solid daily chart support. This is where the 50 and 100-day moving averages are currently. This level should be defended when initially tested. The only thing that could disrupt the XLU trend would be higher interest rates and that is highly unlikely to occur at this time. Nick Santiago InTheMoneyStocks
Earnings Action Today! What This Stock... $FDX Every trader and investor will be watching the $FDX earnings tonight after the closing bell. It is probably the most important stock in the transport industry group. Remember, $FDX has been making lower highs on the charts since January 2018. Nick Santiago InTheMoneyStocks
The Russell 2000 $IWM is showing leadership today trading higher by 0.70%. Recently the small caps $IWM have been lagging. Today's close will be very important for the Russell 2K and the other major stock indexes.
Caution When A Rush Of IPOs Hit The Market $LEVI It looks as if we are having a bunch of IPOs scheduled to hit the market very soon. Today, the highly anticipated denim jean manufacturer, Levi Strauss & Co (NYSE:LEVI), became a public traded company. There are several other popular companies that are also looking to come public very soon. Some of these companies include Lyft, Uber, Pinterest, Airbnb and Palantir. Very often the overall stock market will remain strong into these important IPOs. Usually, once these IPOs are released then the markets will usually stage a correction or pullback. Does anyone remember Blackstone Group (NYSE:BX). That stock came public in July 2007 and the market indexes topped out in October 2007. Now please understand, I'm not saying we are going to face the next great recession, but we could be in store for a summertime decline. Either way, when these IPOs come out in droves it is a time for caution soon. Nick Santiago InTheMoneyStocks
Tenneco $TEN Keeps Tumbling, Watch This Trade Level Tenneco Inc (NYSE:TEN) makes automotive clean air / ride performance products for original equipment manufacturers and aftermarkets. The stock has been in a steady down trend since February 2017. At this time, the stock peaked out at $70.96 a share. Today, TEN stock is trading at $22.61 a share. Traders and investors should note that TEN stock is trading below it's important 200-month moving average. This tells us that the stock is in a very weak technical position on the charts. The next major support level for TEN stock will be around the $20.00 level. This is where the stock broke out in 2010. Often, declining stocks such as this will find excellent chart support around prior break-out levels. Nick Santiago InTheMoneyStocks
