Hot Stocks To Watch 5/4/2018

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Friday May 4, 2018

Economic Calendar & Watch List

Morning Notes

US Futures are under pressure ahead of this morning’s monthly payrolls report. Also notable, the recent 2 day long discussions with China in attempt to settle trade differences without any significant resolution. European stocks are trading slightly higher on positive comments from the ECB while Asian markets closed predominantly lower.

Technicals

The SPY was weak starting off yesterday’s session testing and failing its 200SMA support and falling down to ascending support that lies roughly around $259.5. It then rallied back up through its 200SMA to settle green encountering resistance at the $263 resistance. Support will first lie at the 200SMA at $261.19, then yesterday’s low of $259.05 pivots at $256.60, $254.67, and the low of the February sell down at $252.92. Resistance will lie at the $263 pivot, followed by the 20EMA at $265.24, then 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.

 

**Others On Watch**

$BABA

$PTLA

$ANET

$IBM

$WTW

 

Economic Calendar

 8:30  Employment Situation

12:45  Fed Pres. Dudley Speaks

 

Notable Earnings Before Open

Alibaba (BABA) – EPS Est. $0.70

Celgene (CELG) – EPS Est. $1.78

 

Notable Earnings After Close

NONE

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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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