This morning, the SPDR Gold Shares (NYSEARCA:GLD), and the Market Vectors Gold Miners ETF (NYSEARCA:GDX) are both rallying higher after a disappointing job report. The U.S. Dollar Index futures (DX Z3) are also weaker today trading lower by 0.40 cents to $79.34 per contract. Usually, a weaker U.S. Dollar will help to lift gold and the gold related...
The daily chart on Herbalife Ltd. (NYSE:HLF) is bearish with two major moving averages putting pressure on it from above. This is extremely negative and stands as a warning in the next few weeks of possible downside. Please note the chart. Earnings will be reported after the close of trading on October 28th, 2013. Watch this level and pattern. Gareth...
First Solar, Inc. $FSLR is shooting higher today. Solar stocks have been one of the hottest sectors of late and First Solar is on fire. While most average investors are buying into this epic move, wise traders and investors are noting the nearing double top and gap fill. Please note the chart below. This stock will be a classic short at $56.50. It can be taken as...
Occidental Petroleum Corporation (NYSE:OXY) is a leading oil and gas exploration and production company. Today, OXY stock staged a gap higher open, but has since rolled over a bit. The stock is trading lower by $1.58 to $96.50 a share. When stocks decline this sharply from the opening bell it is prudent to find a major intra-day support level when trying to day...
Microsoft Corporation (MSFT) is declining lower at the start of the trading session. Traders should watch for strong intra-day support around the $33.96 level. This is an area where the stock was tested on October 14, 2013; the level held, and will likely hold again. Traders can watch for a bounce around this level should the stock decline into that support...
Best Buy Co., Inc. (BBY) was upgraded today by Oppenheimer today. The firm gave it an outperform rating with a $50 price target. The top is now in the retailer in my opinion. First, who in the world would upgrade a stock that is already up 250% in the last year? Where was the upgrade when it was trading under $12.00 per share? This is just insanity and classic...
$SLB has chart support around the $89.00 level. That level was a previous breakout point on the 60 minute chart, which will now be chart support. There is also a rising 200-period moving average (SMA) just below that level. The $89.00 area is a likely intra-day bounce level - for a day trade.
SolarCity Corp (NASDAQ:SCTY) is surging again today, trading at $51.19, +4.65 (9.99%). The stock is jumping after raising guidance substantially last week. SolarCity is headed directly into a double top from earlier this year at $52.77. Once it hits that level, expect a small, multi-day pullback under $50.00. Once that pull back happens, the stock has a shot of...
LinkedIn Corp (NYSE:LNKD) is higher today as the market continues its rally. However, inside the rally there are bear clouds forming. The recent strong bounce on LinkedIn has created a bear flag. Not only is it a classic flag pattern that favors the downside but the stock price just slammed into the 50 and 20 moving averages. This has 'short' written all over it....
Las Vegas Sands Corp. (NYSE:LVS) surged in early trading, only to give it all up into the close. The stock hit a new 52 week high early and then was blasted lower as the markets fell on worries about the debt ceiling. The stock is extended and finally today has put in a topping tail. A topping tail is a technical signal of a top. Look for downside in the coming...
Watch this support level...
Today, the major stock indexes are trading sharply higher on the back of a deal in Washington DC by the politicians. Either way, the charts told us yesterday that a stock market bounce was in the cards today. The SPDR S&P 500 ETF Trust (NYSEARCA:SPY) will have some near term intra-day resistance around the $168.38 level. NIcholas Santiago www.InTheMoneyStocks.com
Chevron Corporation (NYSE:CVX) continues to fall, even as the markets float higher. The stock has collapsed from a recent high of $126.50 to a low today of $115.32. As it falls, look for the master support level of $114.85. Should that level hit today or tomorrow, it is a long swing trade with an upside bounce target of $120.00. Gareth Soloway Chief Market...
Berkshire Hathaway Inc. $BRK.B, Warren Buffet's company has an ugly head and shoulder pattern forming on the daily chart. Considering this company owns a little of everything, it is a very ominous sign for the global economy. Head and shoulder patterns are bearish patterns, predicting steep drops. The key break down level on Berkshire Hathaway is $111.00. If it...
Facebook Inc (NASDAQ:FB) is coming into a major gap fill level. This level is $47.30. On an intra day basis, traders should expect a strong bounce off this level. This is just a day trade. Facebook has been ripping higher of late, gaining 100% from the last earnings announcement. Gareth Soloway Chief Market Strategist www.InTheMoneyStocks.com
SanDisk Corp (NASDAQ:SNDK) is a leading flash storage technology company that is coming under some selling pressure during today's trading session. SNDK is trading lower by 0.95 cents to $61.34 a share. Day traders should watch for important intra-day support around the $60.45 level. This is a level where the stock could stage a near term bounce and offer a good...
This morning, leading discount retailer Family Dollar Stores Inc (NYSE:FDO) is falling lower by 0.91 cents to $69.74 a share. The company is scheduled to report earnings before the opening bell on October 9, 2013. Day traders: watch for intra-day support around the $67.23 level, should the stock decline further during the session. This is an area where FDO stock...
$AMZN is taking it on the chin today. The stock is trading at $311.20, -7.84 (-2.46%). This is the first day in the last month that the stock is showing relative weakness, compared to the stock market. This is a significant turn and one that should be monitored. Based on the wide range bar on good volume today, and its weaker showing, I expect the Amazon.com to...