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  • Swing Trade Idea – April 20, 2021

    Apr 20, 2021 Uncategorized Comments Off on Swing Trade Idea – April 20, 2021

    Market View

    World markets are generally weak premarket with USA red, Europe red , Japan red, Hong Kong red, China red, and Asia red. Yields are flat but falling in the premarket.  US dollar is slightly lower which is boosting the commodities including oil.  Bitcoin stabilized at the 50sma and slightly positive.  USA markets are negative following Monday’s weakness with the Nasdaq leading and Russell2000 lagging. Earnings reports were generally positive with DJIA members JNJ, PG, IBM, TRV beating expectations but aside from IBM are down premarket.  With global markets weak, there is a potential for a trend day down; however FAANGMT appear sufficiently strong premarket. Should markets weaken,  lower range of the weekly expected moves are: SPY 411.45, QQQ 335.67 and IWM 219.92. FAANGMT and TSLA remain the keys to watch today with TSLA close to 692 bottom of the weekly move.  In news: USA congress passed SAVE legislation which is boosting the Cannabis sector;  CNR has upped CPs offer for KSU; and Elon tweeted that the 2 fatalities in the TSLA crash were not using autopilot software.  NFLX will report after the close. NFLX is down premarket and may have a premarket run. NFLX report will move the tech sector, market will focus on the number of new subs.

    Stocks to Watch

    Earnings FITB beat; DOV beat; EDU beat; HXL beat; IBM beat; IRDM beat; JNJ beat; KEY beat; PG beat; PLD beat; PM beat; STLD beat; TRV beat;  UAL miss; XRX EPS miss; Indices SLV GLD GDX TLT JETS ARKK ICLN ARKG IWM SMH XLF ARKW XLY XLB DIA SPY XLE QQQ XLV XBI

    Cannabis SNDL XXII TLRY APHA HEXO ACB GRWG CGC

    Movers SNDL MLI TLRY APHA TDUP RMED DOV AAP SI GME TRV OVV AMC CAR AAL ALV NKE PLTR TSLA

    Bitcoin SOS MARA NCTY EBON BTBT RIOT MSTR PYPL

    S&P500 KSU IBM DOV AAP CSX TRV LUMN VIAC UAL ABT MO CCL NKE NVDA EOG LUV MAR GE LMT WFC F INTC

    Stock Idea; NFLX

    NFLX is reporting earnings after the close. Trade idea is a day trade if NFLX runs into the event.  NFLX is currently down in the premarket so will need to look for a reversal after the open. Premarket high is 557 and 559 is the Tues high. ATR is 2% as a reference. One should look for QQQ to confirm. No intent to hold through earnings.

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