Tuesday we will see a similar action on Tuesday as we did on Monday. The main US stock indexes started to fall during the day, with bears failing to gain significant ground and bulls trying to bring stocks back into positive territory. The best part of these days is the possibility to carry out daily measured risk / return exchanges. It also gives us the opportunity to find some of the best stocks.
Top Stock for Tomorrow n. 1: US steel
Shares of United States steel (NYSE:X) are martyred on Tuesday, falling by more than 9% on the day. It has shares that are divided by the 20-day moving average and that actually have no support near which to hold.
The next spot to watch will be $ 17, just below the 52-week lows of the stock. If he arrives there, investors must see if this is a good level for a rebound or if X will continue even lower. In rallies, see how X runs the 20 days.
Top Stock for Tomorrow n. 2: Canada Goose
Another title in difficulty with its 20-day moving average is Canada goose (NYSE:GOOS). Despite the company's strong earnings report in February, GOOS is compressing less against support.
It is above short-term bearish resistance, but still has a lot of resistance in the lead. If you can get over 20 days, a rally for 50 days and maybe $ 52 could be in the cards. Otherwise, investors need to start thinking about the negative side.
Under $ 47.50 and $ 43 to $ 44 are on the bridge. Below this and the December lows could be the next. GOOS looks horrible right now until it is able to reach minimum resistance levels.
First stock trades for tomorrow n. 3: Twitter
After nine straight days, chirping (NYSE:tWTRthe stock is entering a certain resistance and the stock is technically overbought, albeit barely. The bottom line? This is not the time to start a long position, particularly with the TWTR title running in range resistance.
This could always be the "moment" in which Twitter actions break out. For me, the risk / return is simply not favorable. A $ 33-ish pullback wouldn't be unhealthy and I'm not risking $ 2 + a share without having an upside target as Twitter is staggering about resistance if I can get a safer voice.
Bulls should wait for an affordable trade breakout or a pullback.
Top Stocks for Tomorrow # 4: Micron
The lesson we have applied with Twitter can be highlighted with Micron (NASDAQ:MU). Last Wednesday it seemed that Micron was about to go out, only to fail in resistance and withdrawal.
The bulls that bought for $ 45 are under water of almost $ 3.50 per share (an unrealized loss of 7.8%) while Micron still looks healthy. At the time, I said that "some caution could be guaranteed" and I liked the idea that the bulls would buy a 50-day test.
I continue to be with this idea, trying to buy about $ 1 per share under this brand. The most aggressive bulls can feel comfortable entering now, but for me and in this unstable market, I'd rather risk losing an exchange than taking on additional risks.
Top Stock for the future # 5: Agilent technology
Agilent Technologies (NYSE:A) continues to trade very well, with stocks that put in a series of higher lows and that run in resistance close to the highs.
Investors can buy in pullbacks in upside support and in the 20-day moving average, or trade a breakout of over $ 82. A breakout could install in this way Dentsplay (NASDAQ:X-RAY).
Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. At the time of this writing, Bret Kenwell did not hold a position in any of the securities mentioned above.