4 top stock trades for Tuesday: ROKU, TLRY, NVDA, INTC
The markets started off with a bang on Monday, and not the good kind. However, bulls stepped up to the plate in the afternoon and helped erase almost all of the session's losses. Now, let's look at a few top stock trades as we kick off the week. ![]()
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$Roku Inc(ROKU.US$ has been buried from its highs and has been encapsulated in a painful bear market. There's no denying that, but there's also no denying that bulls can still trade this stock.
This morning, shares undercut Friday's low and last week's low at $178.61. That's also as it traded down toward the 200-week moving average.
Earlier on Monday it regained that level, giving the stock a bullish reversal. From here, bulls will want to see if the stock can gain steam. Specifically, they are likely looking for a test of the December low near $190.
Above that, and the $200 level is in play along with the declining 10-day moving average.
On the downside, however, keep an eye on this week's low. A break of it likely puts the 200-week moving average in play.
$Tilray Brands(TLRY.US$ shares reclaimed the 10-day moving average and cleared downtrend resistance (blue line), although the stock faded hard from Monday's high and the 21-day moving average.
Both of those measures — this week's high and the 21-day — are now the upside objective. If Tilray stock can clear those marks, then the 50-day moving average and $10 level are in play.
On the downside, though, keep an eye on the December low at $6.97, Monday's low at $6.95 and the 10-day moving average. A break of this area could put the lows back in play.
$NVIDIA(NVDA.US$ was once a stock market darling, the selling pressure finally caught up to it.
In any regard, Monday morning's gap down allowed it to — ironically — fill the gap from November near $267. Nvidia also tested the 21-week moving average on the dip. Bouncing now, let's see if this one can gain some steam over $267.
Using Monday's low as the stop, many bulls are looking for a rebound here. Specifically, let's see if Nvidia can bounce back to the $284 area and the declining 10-day moving average.
Above that could put the 50-day moving average and $300 mark on the table.
On the downside, however, a break of Monday's low is not a good look.
Last but not least is $Intel(INTC.US$, a stock that has had quite a bit of trouble over the years — especially compared to Nvidia.
Shares are holding the 10-day and 200-week moving averages, but struggling with the 200-day moving average and the December high at $55. If it can push through $55, the $56 mark will be the next hurdle.
Above that, and Intel has some breathing room, potentially up toward $60, then $62.25.
Source: InvestorPlace
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Elsewedy : thanks for sharing