Hot Stocks To Watch 6/5/2018

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Tuesday June 5, 2018

 

 

Economic Calendar & Watch List

 

Morning Notes

US Futures and European shares are modestly higher in early trading. The S&P broke out of a consolidation pattern and hit 2 ½ month highs in yesterday’s session, lead in part by a boost in the technology sector and is still helping boost the markets this morning. Action is somewhat subdued as investors are waiting to react to this weekends G7 summit. Limiting gains is a drop in crude prices with a rumored possible increase in output by OPEC countries. Asian markets were mostly higher on the session.

 

Technicals

The SPY broke out of its consolidation pattern and traded near its $275 pivot in a constricted range on lighter than average volume. Support will first lie at the $274 swing high pivot area, followed by the 20EMA at $271.28, the 100SMA  at 270.68, then pivots at $270, $267 and $265. It continues at the 200SMA at $263.78, then pivots at $256.60, $254.67, and the low of the February sell down at $252.92. Resistance will lie at $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**

FSLR, CCL

Economic Calendar

 8:55  Redbook

10:00  JOLTS Report

Notable Earnings Before Open

NONE

 

Notable Earnings After Close

YY (YY) – EPS Est. $1.52

Ambarella (AMBA) – EPS Est. $0.09

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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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