It’s the final buying and selling day in a holiday-shortened week, with the S&P 500 hitting 4,000 for the primary time and as tech shares start to achieve momentum. With all of that in thoughts, let’s take a look at a couple of high inventory trades for subsequent week.
Prime Inventory Trades for Monday No. 1: AMC Leisure (AMC)
AMC Leisure (NYSE:AMC) is taking in on the chin on Thursday, down 8.3% on the day. This marks AMC’s second-straight each day loss.
On a barely deeper decline, bulls have to see the 10-week and 50-day transferring averages maintain as assist. In the event that they do, a bounce again up towards $10 and the 10-day transferring common is feasible.
Above the 21-day transferring common, and maybe AMC could make a push towards $12.50.
If the 10-week and 50-day transferring averages don’t act as assist, nevertheless, then $7.50 could possibly be again in play.
Prime Inventory Trades for Monday No. 2: Netflix (NFLX)
I’m going to be actual sincere right here, tech is beginning to look higher. That doesn’t imply it’s out of the woods, but when we are able to begin to garner some upside momentum, then this group may generate some critical good points.
That stated, look no additional than Netflix (NASDAQ:NFLX).
The inventory continues to carry its 10-month transferring common. Moreover, it’s giving us an inside week, as this week’s buying and selling vary contained inside the prior week’s vary. Lastly, it reclaimed the 10-week and 21-week transferring averages.
From right here, I’d like to see a weekly-up rotation over this week’s present excessive. That would put $550 in play, adopted by a possible rally to $575.
Equally, although, a weekly-down rotation may put sub-$500 in play. Watch out with the weekly-down situation nevertheless, as there’s a variety of assist close by.
Prime Inventory Trades for Monday No. 3: PlayBoy Enterprises (PLBY)
The Plby Group (NASDAQ:PLBY) — identified extra as PlayBoy Enterprises — has seen some momentum in its inventory worth recently.
Using a three-day profitable streak, PLBY inventory ripped proper via the prior all-time excessive at $21.38 and simply barely eclipsed the 261.8% extension.
On the draw back, I need to see PLBY inventory maintain the $21.38 stage as assist. Under places the 10-day transferring common in play, then $16.60.
On the upside, nevertheless, a transfer above the present excessive places a transfer towards $27.50 in play.
Prime Trades for Monday No. 4: Alphabet (GOOG, GOOGL)
Alphabet is giving bulls a great-looking setup. Now we have a weekly-up rotation this week, but in addition a monthly-up rotation over the March excessive after Thursday’s rally.
If it could shut above this stage — $2,113.74 — then it places the all-time excessive in play up at $2,145. Above that opens the door to the 161.8% extension at $2,250. Bear in mind, GOOGL inventory has been one of many best-performing FAANG holdings over the previous few quarters. So if tech and mega-cap tech come again in favor, it wouldn’t be odd for GOOGL inventory to guide the cost.
On the draw back, although, a transfer again under $2,100 may put the 10-week transferring common and $2,000 stage in play.
On the date of publication, Bret Kenwell didn’t have (both instantly or not directly) any positions in any of the securities talked about on this article.