After yesterday’s market weakness, there were lots of opportunities on numerous relief bounces today. Stocks such as TSLA, XIV and BAC provided great moves to profit on.
Quite a number of catalysts in today’s pre- and after-market trading fueled up stocks with lots of momentum which could provide superb trading opportunities tomorrow.
Nice breakout above the $77.00 highs on the daily chart on solid earnings. Overall, it is a strong trender for about two months now. Since today’s price action was a steady grind without a parabolic price change on the underlying news, the plan is to join any weak open for a red to green move for a $78.00 to $79.00 push.
After today’s announcement of a major stake in the company, the stock ramped all the way through the previous $127.00 high towards last year’s $130.00 highs. As it continued to trend all day long and now has the $127.00 area as support, we’ll be looking for a continuation through the $130.00 area.
WB had a huge run to the upside a few days ago. After it put in a small dip followed by a spike back to prior highs today, the plan is to long any weak open for a red to green move and $80.00 breakout.
CBI seems to be in a bottomless fade. After today’s continued fade and strong power close, we’ll be on the lookout for a gap down, washout and subsequent relief bounce to join long.
Another earnings winner in today’s after-hours trading. Overall a steady trender just like WMT for several months. We got some $105.00 prints after-hours which would create a huge gap up. Therefore, it’s also likely that some profit taking kicks in after the bell. The plan is to play ADSK reactively meaning that we’ll join a trend once it has been established.
Another after-hours earnings winner. Based on the big $152.00 to $153.00 resistance on the daily chart which is being tested after-hours, the idea is to join a long trend after the breakout confirmed.
Splendid relief bounce after yesterday’s market weakness. With the $148.00 upgrade by UBS this afternoon and the stock’s power close, we’ll be looking to join a long trend for a move back towards the all time highs.