4 top stock trades for Tuesday: JPM, LCID, GME, UNP
Following a robust three-day rally, it was a tough finish to last week for bulls. Now let's look at a few top stock trades for the holiday-shortened trading week. ![]()
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$JPMorgan(JPM.US$ closed one of its worst one-day post-earnings reactions. With the dip, the stock is knifing through every major daily moving average on the chart.
It's also cutting through a few notable weekly moving averages as well.
If it continues lower, let's see if JPMorgan can find its footing near channel support. Below this level could put the December low in play at $151.84.
On the upside, though, be careful of all of the moving averages overhead. On a bounce, see if JPMorgan can reclaim these marks, otherwise, it may turn into a short setup.
$Lucid Group(LCID.US$ has faded hard from last week's high and now sits just above last Monday's low at $40.43. This week, traders will be watching this level to see if it fails.
If it does, the 10-week and 21-day moving averages are on deck. However, if they fail as support and Lucid loses the $40 level, we could see another move back down to $35 and the 21-week moving average.
On the upside, however, let's see if Lucid can push back through the 50-day.
It should be very cautious on $GameStop(GME.US$ ever since the stock broke below $159. Once that level failed as support, it became resistance while GameStop struggled to reclaim its daily moving averages.
Now it's breaking to new lows as it failed to hold the fourth-quarter low as support at $129.50. From here, one has to wonder if the $100 level is now in play.
At this point, the stock is broken and the one hope it has left is the 21-month moving average.
If this area holds, look for a rebound back to the Q4 low. However, don't be surprised if it's resistance. Above that level, and the 10-day moving average puts the declining 21-day on deck.
$Union Pacific(UNP.US$ is now sitting near the 50-day and 10-week moving averages and uptrend support (blue line).
If this zone fails as support, it may usher in more selling pressure. However, this stock was a solid performer, so if it can get some kind of reversal brewing or rally from here, it puts the $249 level in play.
Above $250, and the $254 to $255 area may be on deck. Early next week, I'd love to see some kind of undercut of last week's low followed by a quick reversal, but let's not jump to an assumption or build any preconceived biases.
Let the charts do the work.
Source: InvestorPlace
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71576866 : somebody's trying to hack somebody's hacking my account don't want anything to go out or come in it's the bishop he lives on Oahu he's identity theft my name is Marcus Laney and I put the money into Tesla
BullRunner : I had to many other holdings but should of bought tons of Lcid when I was buying around the $15+ stock price!
Mike and Lilly : Wow I would love to get in to some of these stocks. Great time to buy ..
JohnnyWCK : good