Hot Stocks To Watch 2/28/2018

1943

Wednesday February 28, 2018

Economic Calendar & Watch List

 

Morning Notes

US Futures and European stocks are both flat in early trading. China is weighing on global stocks after it reported manufacturing PMI fell more than expected. European losses are being limited by CPI that rose at its slowest pace in over a year, which may cause the ECB to not yet end its QE program. Asian stocks closed mostly mixed on the session.

 

Technicals

The SPY struggled throughout yesterday’s session as it tested the critical pivot at $275.45 three times but failed to hold that level into the close. Support will first lie at the 50SMA at $272.92, then the 20EMA at $272.50, and a major support pivot at $270. Support continues at the 100SMA at $265.85, then $264.30, $263.31, $261.66, ascending support at $258.50, and the 200SMA at $255.45. Resistance will lie at yesterday’s high of $278.92, followed by pivots at $280, $284.10, and all time highs at $286.63.

 

Small Cap Watch List

*Please refer to the momentum scanners displayed live in the chat room for potential plays at the market open.

**Others On Watch**

LOW, CELG, WTW

Economic Calendar

 8:30  GDP, expected 2.5%

 9:45  Chicago PMI, expected 65

10:30  EIA Petroleum Status Report

 

Notable Earnings Before Open
Lowe’s (LOW) – EPS Est. $0.88

TJX Companies (TJX) – EPS Est. $1.28

 

Notable Earnings After Close

Salesforce.com (CRM) – EPS Est. $0.11

Mylan (MYL) – EPS Est. $1.41

L Brands, Inc. (LB) – EPS Est. $2.04

Universal Health Services, Inc. (UHS) – EPS Est. $1.83

NO COMMENTS