3 top stock trades for Thursday: AMC, M and SPCE
After Monday's strong rally, it's been a dull two-day trade on low volume. That said, there are some stocks that are still setting up on an individual basis. Let's look at those holdings as part of our top stock trades group. ![]()
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When a high-momentum stock loses momentum, it's pretty hard to get it back without some major pain first. $AMC Entertainment(AMC.US$ fits that description wonderfully.
The $33 to $34 area went from support to resistance, while the stock has failed to hold every meaningful moving average it's tested since breaking down.
Now struggling to reclaim the 10-day, 21-day and 50-week moving averages, bulls need to use caution. A close below last week's low (at $26.82) could open the door down to the low $20s again.
On the upside, AMC stock needs $30-plus to look better.
$Macy's(M.US$ is a stock I was looking at a few weeks ago, looking for it to find its footing after a huge rally and big pullback. It couldn't find its footing at the time and we moved on from the name.
Now rallying nicely — working on its sixth straight daily gain — Macy's is back in the spotlight.
The clue came last week when Macy's stock reclaimed the prior week's low and the 21-week moving average. The trigger came this week when the stock went weekly-up over $25.35.
Now trading into the 10-week moving average, let's see if the stock can reclaim this level and climb to the December high at $28.33. Above that and $30-plus is in play.
On the downside, I want to see Macy's hold $25 and the 21-week moving average.
Worse yet, $Virgin Galactic(SPCE.US$ stock is breaking below the recent support level at $13.70, as it looks for a test of the channel low.
It's also making new lows with some divergence on the RSI measure. That alone isn't enough to warrant a long position, but it's something to watch.
For now though, this is one I'm avoiding. The stock is breaking to new 2021 lows and remains below all of its daily moving averages. The trend is not its friend and shares are not trading well, thus we are taking a pass until at the very least, SPCE stock can find its footing.
Source: InvestorPlace
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Peanny : Hmmmm
intuitively thoughtf : Thank You
要HoDL : it was manipulation on $AMC Entertainment (AMC.US)$ share price that not able to hold 30. just buy and hold.
Rode IITerry : AMC is where it’s at IMO
101621268 : I see
101621268 : I see
101621268 : I see
101621268 : I see
Randomgeeked : alll green
WatersMarcus : I’m new to all of this