10 Ideas for Thursday and Friday
Last week I talked about how the market felt funny and needed to take a test of the 50d. Now look at it. It touched it and already bounced off of it. It feels like the bounce is a little quick but overall it’s good for the markets.
I’d like to see it pull back around the 346 area.
$DAR – LONG
My Levels: 68.10 and 67.18.
Why: It broke resistance and closed above the 50d. My thoughts on entry is on the quarterly pivot area and today’s low.
$SFIX – LONG
My Levels: 56.30 and 55.15
Why: You have a 50d, 200d and a previous close all bunched together. Lots of support. Careful, it’s lighter volume.
$NIO – LONG
My Levels: 44.15 and 43.60
Why: Monthly pivot and 200 day. I’m looking for a 2-2.5 point move off the previous day high.
$AMAT – LONG
My Levels: 135.25
Why: 50d, pivot and closed on highs. I would love a pull back to go long here.
$SNAP – LONG
My Levels: 61.82
Why: The 50d, the monthly pivot, and previous low. Lots of confluence there. The quarterly will also catch my eye. IF it never gets down to that level, I’ll also be watching 62.80.
$STX – LONG
My Level: 80.60
Why: There’s a weekly off the 80 area. It held that area today.
$HOG – LONG
My Level: 39.80
Why: It didn’t get a bounce today. I was watching for a reversal. Now we have the 200d and monthly pivot. It might be too close. If it’s already at that level tomorrow I’ll look at the 39.25 area.
My Level: 26.41 (wed low)
Why: It closed at the 200d and above the 50d. If it clears this level I think it could be testing this 29 or 30 area.
$BIDU – LONG
My Level: 177.10
Why: Below the quarterly pivot and previous low. I’ll watch to see if it wants to continue. I get the feeling it wants to push back to these previous highs near the 181 area.
$TWTR – LONG
My Level: 67.55 (wed low)
Why: You have the 20d at 68.40 in the middle of today’s move. Only $1 down from where it closed. If this can clear over 70 it could jump a few points.