4 main Monday stock market transactions: BA, AAPL, NNOX, V
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After a very hectic week and a quadruple expiration day on Friday, let’s look into the next week with some top trading.
Main Monday Stock Transactions # 1: Boeing (BA)
Source: Graphic courtesy of TrendSpider
What a great setup we have in Boeing (NYSE:BA). I like when a stock goes up, which gives us a weekly and / or monthly rotation, just like Boeing did last week.
Stocks continued to shout higher, hitting near $ 278.57 before resetting. These resets are where the bulls can look for more continuation.
This nice little consolidation of the bullish flag just marked the 10-day moving average before rebounding on Friday. Aggressive buyers would have bought on today’s decline. More conservative traders will expect a rotation from Friday’s high.
Either way, a close below the 10-day moving average and the 61.8% retracement likely undermines more short-term stock momentum. If we get a spin from Friday’s high, this stock could go back to over $ 275.
Top Monday Stock Transactions # 2: Apple (AAPL)
Source: Graphic courtesy of TrendSpider
Apple (NASDAQ:AAPL) hasn’t shown the leadership investors would want – it has been for a few quarters now.
The stock briefly broke the $ 138 level in January, only to lose that mark after reporting profits (although those profits are really good). The stock continued to lose a number of key moving averages, as well as the $ 126 level.
Notice how the 100-day moving average went from support to resistance, most recently rejecting Apple earlier this week.
And now ? The Bulls need to see Apple either retest the recent trough or they need to see a spin.
If this is a rotation, I would like the shares to hit $ 127.22 next week. Not only would that give us a weekly rotation, but it would also put the stocks above the key level of $ 126.75, along with the 10-day, 21-day, and 100-day moving averages. That would at least give the bulls some momentum.
If lower prices are in order, see how Apple handles last week’s low of $ 116.21 and the 200-day moving average. Below, the November low could be close to $ 112.50.
Main Monday stock market transactions n ° 3: Visa (V)
Source: Graphic courtesy of TrendSpider
For years, Visa (NYSE:V) was a consistent winner, scoring higher and higher as secular trends continued to propel its growth. However, the stock has been a bit more choppy over the past year as global consumption has risen and fallen.
Visa took a hit on Friday, falling back below $ 217.35. In a few key moving averages now, let’s see how the stock is reacting.
Do the 50 and 100 day moving averages combine to support Visa and give it a rebound above $ 217.50? Or are there lower prices in the store?
If it’s the former, let’s see if it can pick up the 10- and 21-day moving averages as well.
If it’s the latter, I’d like to see a drop in the 200-day moving average and uptrend support (blue line). Below these metrics, the key 21-month moving average is on the bridge, a level I like when it comes to credit card companies.
Best Deals Monday # 4: Nano-X Imaging (NNOX)
Source: Graphic courtesy of TrendSpider
We’re not talking about Nano-X Imaging (NASDAQ:NNOX) too much, but it has become a topic of discussion over the past couple of months.
After consecutive days indoors, the stock gets pretty tight. While maintaining its 10- and 21-day moving averages, stocks are struggling to break through the 100-day moving average.
It also has a large weekly range. On the positive side, we can use this range for additional direction.
Above the weekly high at $ 52.60, gives bulls a potential weekly rotation and places NNOX above the 100-day moving average. This could bring the 50-day moving average into play, followed by a potential rally in the $ 60 range.
On the downside, a break out of this week’s low of $ 44.22 could put the $ 40- $ 42 area on the table. Below that and the March low is possible up to $ 32.20.
As of the publication date, Bret Kenwell held a long position in NNOX.
Bret Kenwell is the director and author of Futures Blue Chips and is on Twitter @BretKenwell.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.