After a few strong days in the stock market, the stock market is under pressure on Thursday. Profit results from Taiwan semiconductor MFG. Ko. LTD. (ADR) (Ticker NYSE:TSM) and Lam research Corporation (Nasdaq:LRCX) does not inspire much confidence in the semiconductor space, weighting in such names as Apple. (Indexshares aapl) and other technology. With this in mind, let’s see what trading set up on Friday.
Deals for tomorrow #1: Lam research stock
Let’s start with one of the culprits Thursday, Lam research. LRCX actually beat on earnings and revenue estimates in the quarter and provided better-than-expected guidance. However, the shipment for the next quarter rose slightly light.
I like this scheme because it just. Short-term pressure on LRCX stock price is also the word support near $190. The 200-day just below $186. This is the most bullish chart? No. But investors who are bullish may take a long position with an attractive risk/reward.
LRCX autumn left many others, like Micron technology, Inc. (Nasdaq:mu) and applied materials, Inc. (Nasdaq:AMAT) is lower on the day as well.
Deals for tomorrow #2: Amazon stock
Amazon.com Ink. (Nasdaq:events of the week) saw a nice pop on Thursday after founder and CEO Jeff Bezos’ letter to shareholders. In it, he told us that the company has exceeded 100 million Prime members in the US, among other things.
If the stock market is under pressure, waiting for a pullback to $1,500, make sense. Thus, we can see if the amzn stock finds support at this level. If it fails as support, and $1,450 is the next line in the sand.
While many companies, Amazon in recent times difficult because of the US President’s constant and unpredictable negative tweets about the company. After all, how well cloud computing is doing and that keeps favorite events of the week continues, we look to buy on pullbacks. If $1450 and $ 1500, look at the retest of the highs in the not too distant future.
Deals for tomorrow #3: Raytheon stock
I liked the raytheon company (indexRTS) for quite some time. Because of the constant desire for countries to defend themselves, the products of raytheon to stay in constant demand. So, too, does its stock.
I actually wrote this a week ago, and a breakthrough was realized. Now konsolidiruyutsya under 230$, the bulls may try to push this higher, especially if geopolitical tensions escalate in the near future.
If not, look to buy RTN stock on a pullback to $220, assuming that it contains as a support.
Deals for tomorrow #4: stock alphabet
Despite the sloppy, down day for the Nasdaq, alphabet Inc (USA:stock markets) enjoy Thursday, rose more than 1%.
I also wrote about a possible breakthrough in googl about a week ago and already several times explained, why buy it for about 1,000$. And how encouraging to see that the stock markets traded in a day? Very. Especially when he pushes through the resistance.
If the alphabet can hold these gains and add them on Friday or early next week, he will have a clear shot to $1,140 or higher. It is not overbought and bullish momentum (blue circles), is pushed through the 50-day and 100-day moving averages on Thursday and above the important level of $1,080.
Let’s see how it will turn out.
Deals for tomorrow #5: GE stock
General electric company (Ticker NYSE:GE) was a big loser. 21% this year and 54% over the past 12 months GE stock finally bottomed?
The problem with GE is that it gave us an endless series of false bottoms. The fall of shares, consolidation, rally on bad news (it’s usually a good thing!) and then to knock him down and make new lows. If You don’t believe me, just look at the chart.
Right now we have stock GE rallying and testing the 50-day moving average resistance level over the past year. The RSI indicator (orange branch at the top) fought 50.0 measurements over the last 12 months. There prices are now, I also extended the previous support level, showing that it can be resistance.
Making all this even harder? GE reports profit Friday and meetings with investors next week, April 25.
Maybe it’s short positions heading into print. Perhaps this is the Bulls very little is growing optimism that the worst is over. It may even be the bottom, but I don’t put my money on him. I’d rather miss the 10% from the lows and buy with confidence and not dump money into shares of GE now and pray that it’s finally downstairs.
If RSI is greater than 50, stocks above 50-day moving average and $14 would be a good start.
Bret Kenwell Manager and author of the forthcoming “blue chips” and on Twitter @BretKenwell. At the time of this writing, Bret Kenwell held a position in the company, free and MU.