4 top stock trades for Friday: F, AVGO, NFLX, SPCE
After a big multi-day rebound, stocks looked tired on Thursday and rolled over after the open. While the stood tall for a while, the really took a hit. Let's look at some top stock trades for Friday. ![]()
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$Ford Motor(F.US$ has been a total beast for us lately.
From here, let's give Ford stock some time to rest. If it can hold $25, then the $25.50 level and this week's high are in play. Otherwise, let's see how it handles a test of the 10-day moving average. ![]()
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For now, this stock has some of the strongest relative strength in the market and we don't want to ignore that. Instead, we want to be buyers of the dip.
On yesterday's pullback, $Broadcom(AVGO.US$ find its footing at the 50-day moving average and rotate back up through Monday's low near $603.50. It would put the $625 area and the 10-day moving average in play.
Until recently, this was one of the top-performing stocks. So like Ford, we want to buy the dip but only when the risk/reward is in our favor.
If the 50-day isn't support, look for a potential gap-fill near $590, and don't be in a hurry — let the setups prove themselves first.
$Netflix(NFLX.US$ has been a total dog compared to most of its FAANG peers, with the exception of $Amazon(AMZN.US$. ![]()
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I rarely discuss head-and-shoulder (H&S) setups. However, we have a sort of H&S breakdown here, alongside a potential ABC correction.
Does that mean NFLX could find its footing soon? That's what we're waiting to see. Unfortunately, it can take place in many forms.
I hate to make it sound complicated. So look at it like this:
I liked $Virgin Galactic(SPCE.US$ for a long time as a speculative holding. While it enjoyed plenty of upside over the last two years, it's not the type of stock you want to hold when there's a bear market in growth stocks.
If the stock can't hold $9, we may very well see the Covid-19 low at $9.06. If that mark doesn't hold — and I'm surprised it's not lower — then the all-time low could be in play near $7. ![]()
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On the upside, let's see how SPCE handles the declining 10-day moving average. If it gets to the $14 to $14.25 area, let's see if this area is resistance (we'll assume it is, for now).
Source: InvestorPlace
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Zeldaberry : People want to be hopeful just to rally the momentum...in hopes that thier spiritedness is justified ....the Market has to hit bottom...what ever that is ...its in its own time