Hot Stocks To Watch 4/24/2018

2194

Tuesday April 24, 2018

Economic Calendar & Watch List

 

Morning Notes

US Futures and European stocks are slightly higher in early trading this morning. Strong earnings in the US and Europe are helping to give the markets some strength. Energy stocks are boosting the overall markets with a rise in crude oil prices. Investors are becoming more concerned with the possibility of faster inflation with T bond yields nearing 3% and the rise in commodity prices. Asian stocks settled mixed on the day.

 

Technicals

The SPY struggled with its 20EMA in yesterday’s session failing to hold that support into the afternoon, yet managing to close the day at that level. This morning the SPY is gapping strongly higher from its 20EMA. Support will first lie at the 20EMA at 266.45, followed by the the critical pivot at $264.86, then $263.36, the 200SMA at $260.38, then $256.60, $260, $254.67, and the low of the February sell down at $252.92. Resistance will lie at pivots at the critical pivot at $270 which also coincides with the 100SMA, then $273, $275.5, $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**

MMM, CAT

Economic Calendar

 8:55  Redbook

10:00  New Home Sales

10:00  Consumer Confidence

 

Notable Earnings Before Open

United Technologies (UTX) – EPS Est. $1.51

Caterpillar (CAT) – EPS Est. $2.11

Verizon (VZ) – EPS Est. $1.11

Harley-Davidson (HOG) – EPS Est. $1.09

 

Notable Earnings After Close

iRobot (IRBT) – EPS Est. $0.53

Wynn Resorts (WYNN) – EPS Est. $1.96

 

NO COMMENTS