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4 top stock trades for Monday: TSLA, MSFT, TWTR, F

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Technical DNA wrote a column · Dec 27, 2021 03:57
This week is the "Santa Claus" rally, where the $S&P 500 Index(.SPX.US)$ and $NASDAQ 100 Index(.NDX.US)$ have been up 70% of the time over the last 19 years. With that in mind, let's look at a few top stock trades going into the last trading week of the year.
Top stock trades for today No. 1: Tesla
As for $Tesla(TSLA.US)$ now, the stock tagged the 21-week moving average and went daily up in Tuesday's session. With Wednesday's rally, it also reclaimed the 10-day, 21-day and 50-day moving averages and closed above $1,060, and $1,100 is in play.
4 top stock trades for Monday: TSLA, MSFT, TWTR, F
4 top stock trades for Monday: TSLA, MSFT, TWTR, F
Top stock trades for today No. 2: Microsoft
$Microsoft(MSFT.US)$ has been stalling a bit lately, struggling with the $340 area on the upside but finding support down near $320.
4 top stock trades for Monday: TSLA, MSFT, TWTR, F
Working on its third-straight daily gain, the stock has reclaimed the 21-day and 50-day moving averages. If it can continue higher, I have my eye on that gap-fill level up near $339.
There it will also find downtrend resistance (Red line).
If it's able to push through this area, the next two upside marks are obvious: The December high at $343.79 and the November high (and all-time high) up at $349.67.
4 top stock trades for Monday: TSLA, MSFT, TWTR, F
On the downside, though, bulls want to see the stock hold the $328 to $330 area — where Microsoft stock finds a bevy of moving averages.
Top stock trades for today No. 3: Twitter
$Twitter (Delisted)(TWTR.US)$ is a pretty interesting setup. Not only are most social media stocks under pressure, but Twitter has a recent CEO change. Despite that, the stock continues to struggle.
Shares are being squeezed lower by the 21-day moving average while clinging to the 200-week moving average.
If the stock can push through the 21-day moving average and clear $45, we could see a quick move into the upper-$40s and potentially the 50-day moving average (currently just above $50).
4 top stock trades for Monday: TSLA, MSFT, TWTR, F
4 top stock trades for Monday: TSLA, MSFT, TWTR, F
On the downside, however, we need to see the $41 level hold as support. Twitter stock is working off a minor higher low, but a break of $41 that's not quickly reclaimed spells trouble for the stock.
Top trades for today No. 4: Ford
Last but not least, we have $Ford Motor(F.US)$. I was so excited about this stock when it broke out over $20.50.
Not only is that level the two-times extension from the summer range, but it's also been recent resistance. Interestingly, the 161.8% extension from the same range has been support.
4 top stock trades for Monday: TSLA, MSFT, TWTR, F
And they say Fibonacci extensions are meaningless.
In any regard, the breakout earlier this month sent shares to the 261.8% extension of the larger range, where Ford promptly reversed and fell back into its current trading range. Bummer. From here, let's wait for one of two things.
1. A breakout over $20.55, thus putting $21.25 back in play, followed by a potentially longer-term push up to $23.
2. A pullback to range support near $19 could also get us the first touch of the 50-day moving average since September and I like that setup as well.
Source: InvestorPlace
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