Hot Stocks To Watch 5/1/2018

1819

Tuesday May 1, 2018

Economic Calendar & Watch List

 

Morning Notes

US Futures are flat and most of Europe and Asian markets are closed for holiday. Trade and tariffs are the main talk of the day as the US announced it would delay imposing them on select countries till June 1. There also will be negotiations taking place trying to resolve the Chinese trade disputes. Open Asian markets closed the day higher.

 

Technicals

The SPY exhibited weakness through yesterday’s session drifting lower and closing the day below its 20EMA. Support will first lie at $263, followed by the 200SMA at $260.92, then pivots at $256.60, $254.67, and the low of the February sell down at $252.92. Resistance will lie at pivots at the critical pivots of $267 and $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**

STX, CGNX, SHOP, TPR

Economic Calendar

 8:55  Redbook

10:00  ISM Manufacturing Index

 

Notable Earnings Before Open

Pfizer (PFE) – EPS Est. $0.74

Merck (MRK) – EPS Est. $0.99

Seagate Technology (STX) – EPS Est. $1.36

Shopify (SHOP) – EPS Est. $-0.23

 

Notable Earnings After Close

Apple (AAPL) – EPS Est. $2.69

Gilead Sciences (GILD) – EPS Est. $1.65

 

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