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  • Swing Trade Ideas – April 22, 2020

    Apr 22, 2020 Uncategorized Comments Off on Swing Trade Ideas – April 22, 2020

    Market View

    USA and world markets are generally up premarket supported by a $484B USA package and continuing meme that the world economy is gradually returning back to work. Bonds, commodities and currencies are lined up for a positive day with Oil the outlier.  SPY levels to watch are the Tues open at 276.95 and the lows at 272.  Options market showing support at 274 and resistance at 280 for Wed 

    Premarket

    Social media stocks FB, TWTR, PINS and up  after SNAP beat earnings and showed good user growth. Semis are strong after TER earnings. Tanker stocks mentioned yesterday are very strong again today.

    Stock Idea: LH

    Labcorp got FDA approval for a Covid at-home swab test and is providing serological tests for patients to determine if they have Covid antibodies. This is a news driven idea for a quick trade. LH failed at the 50 SMA (153.77) Tues and would be a level to lean against if above.  158.63 would fill the breakdown gap and 166.1 is a volume by  price resistance level.

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