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  • Swing Trade Idea – August 27, 2020

    Aug 27, 2020 Uncategorized Comments Off on Swing Trade Idea – August 27, 2020

    Market View

    Global markets are generally soft ahead of USA GDP, unemployment claim and Jerome Powell speaking at Jackson Hole. These events will likely change the premarket setup which has all global markets slightly down, oil down and yield curve slightly flatter. USA indices are evenly down .25%. FAANGM stocks are slightly down with AAPL the only one positive in the premarket. Market appears to be indecisive so keep your head on a swivel.

    Premarket names:

    BOX ESTC SPLK beat  DG DLTR WSM beat BILI beat NTAP beat ABT COVID test approval PTON positive comments TSLA  PENN DKNG down on NBA postponing NBA games

    Stock Idea: ESTC

    ESTC provides technology for search and analysis of data.  Earnings beat and upgrades to the 125-142 level. Look for pullback to VWAP and/or to the 20ema for a trade. Premarket high is 120 and a first target. Watch the Nasdaq and IGV for confirmation of software strength.

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