Hot Stocks To Watch 5/2/2018

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Wednesday May 2, 2018

Economic Calendar & Watch List

 

Morning Notes

US Futures are flat and European shares are higher this morning. Strong earnings from AAPL are trying to boost the tech sector. investors are waiting to hear from the FOMC on the pace of interest rate hikes and that is holding back gains. European shares are higher on better than expected Markit PMI revisions. Asian markets settled mostly lower for the day.

 

Technicals

The SPY started yesterday’s session weak, but rallied late into the afternoon to close the day positive. Support will first lie at the $263 pivot, followed by the 200SMA at $261.02, then pivots at $256.60, $254.67, and the low of the February sell down at $252.92. Resistance will lie at the 20EMA at $265.76, followed by 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**

AAPL, ESPR, GILD

Economic Calendar

10:30  EIA Petroleum Status Report

 2:00  FOMC Meeting Announcement

 

Notable Earnings Before Open
Mastercard (MA) – EPS Est. $1.26

CVS Health (CVS) – EPS Est. $1.40

Automatic Data Processing (ADP) – EPS Est. $1.44

Wayfair (W) – EPS Est. $-1.16

 

Notable Earnings After Close

Tesla (TSLA) – EPS Est. $-4.45

Square (SQ) – EPS Est. $-0.04

Kraft Heinz Company (KHC) – EPS Est. $0.82

 

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Mike Herman Mike graduated from the Florida State University with a Real Estate and Bachelor of Finance degree and focused particularly in the field of Behavioral Finance. During his time at the Florida State University, Mike began to trade equities and quickly realized the opportunities that existed in the markets. Through trading, Mike had facilitated relationships with a few very experienced individuals who had an expertise in the private equity field. More specifically, the private funding of small cap start-up companies. After several years of successful deals as a venture capitalist, Mike made the decision to return to work as an independent trader. Throughout the past 7 years of working as an independent trader, Mike has refined his strategy to focus on news driven momentum while factoring in market sentiment and psychology with an emphasis on proper risk management. Mike possesses a unique ability to rapidly decipher critical market moving news and take appropriate action. You can contact Mike at mike@warriortradingnews.com Legal Disclaimer – This is not meant to be a recommendation to buy or to sell securities nor an offer to buy or sell securities. Before selling or buying any stock or other investment you should consult with a qualified broker or other financial professional. The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. The author wrote this article themselves, and it expresses their own opinions. The author has no business relationship with any company whose stock is mentioned in this article nor is receiving compensation from any of the companies mentioned.

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