Hot Stocks To Watch 3/28/2018

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Wednesday March 28, 2018

Economic Calendar & Watch List

 

Morning Notes

US Futures are flat and European shares are marginally lower in early trading. Weakness in the technology sector is weighing on global markets. In addition, a drop in crude prices is pulling down energy stocks after data showed a rise in stockpiles increasing concern over a global supply glut. Asian stocks followed the US markets and closed lower on the session.

 

Technicals

The SPY displayed weakness again in yesterday’s session, encountering resistance at the ascending resistance line and dropping down to find support near the 200SMA. Support will first lie the 200SMA at $258.43,followed by the low of Friday’s range at $257.83, and the low of the February sell down at $252.92. Resistance will lie at the 100SMA at $268.94, then the 20EMA at $269.37, followed by the critical pivot at $270, then pivots at $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**

LULU, FB, TSLA

Economic Calendar

 8:30  GDP, expected 2.7%

 8:30  International Trade In Goods

10:30  EIA Petroleum Status Report

11:30  Fed Pres. Bostic Speaks

 

Notable Earnings Before Open

Walgreens Boots Alliance (WBA) – EPS Est. $1.55

Unifirst Corporation (UNF) – EPS Est. $1.07

 

Notable Earnings After Close

Gamestop (GME) – EPS Est. $1.296

PVH Corp. (PVH) – EPS Est. $1.48

 

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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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