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  • Swing Trade Ideas – April 15, 2020

    Apr 15, 2020 Uncategorized Comments Off on Swing Trade Ideas – April 15, 2020

    Market View

    USA and world markets are down premarket as recent  gains are digested. All macro indicators are aligned negatively: oil down, USD up, bond yields lower with curve flatter. Bank earnings from BAC and GS were weaker than expectations and banks are increasing loan loss provisions due to the economic forecast. Expect the QQQ to outperform SPY and IWM due to fewer financial holdings. Airlines are positive in the premarket due to a government support announcement. Financials and energy companies are leading to the downside. TSLA is in play today as GS has upgraded with a $864 PT following CS yesterday.

    Stock Idea: TDOC

    TDOC is a telemedicine company reporting 40% revenue Y-Y and above consensus.The company is spotlighted due to the Covid quarantine but does represent a potential new
    trend in medicine. It is a fundamentally expensive stock with  14% short interest, which can lead to large moves. TDOC is up 4% in pre market. 

    Day trade candidate ideally on dips. One should expect resistance at 173 and 178.

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