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Swing Trade Ideas – June 22, 2020

Market View

Equity markets are mixed in the US premarket with US stocks positive but european negative and Asia mixed. Yield curve is slightly flatter which is a negative but USD is lower, which is a positive. Energy is down, which is again a negative. US indices sold off into the close Friday and have bounced in the premarket in spite of Covid case growth in the US. NYC is phase 2 reopening which may help boost markets. No major econ or business news to provide a catalyst for major moves. 

Premarket names:

AAPL upgrade and WWDC, sold off Friday and may be bid; WDC upgrade; AXP downgrade; Momo names like ZS TTD upgraded and may continue;  Biotech strong Friday VRTX SGEN ALXN some names to watch; JD continuing; NKE upgrade and earnings this week

Stock Idea; AAPL

AAPL WWDC is this week and often a catalyst for AAPL. Cowen upgraded AAPL with a 400 target price. Sold off Friday on closing some stores, buyers will likely return. If market will continue to rise, AAPL will likely rise with it. Would watch the open before entering to verify that the open is not sold.