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After a mixed session on Monday, traders have their work cut out for them this week. With that in mind, let’s look at a few top stock trades for Tuesday.
Top Stock Trades for Tomorrow No. 1: Apple (AAPL)
Source: Chart courtesy of TrendSpider
Apple (NASDAQ:AAPL) is one of the main stocks we had on our watch list today, as the stock took a much-needed rest after a post-earnings rally. It was one of the first stocks to lead us out of the depths and did so on earnings. That’s encouraging.
The stock couldn’t give us a daily-up rotation on Monday. Instead, though, it’s giving us an inside day. On the downside, Apple has its 10-day and 50-day moving averages, as well as its daily VWAP measure nearby.
However, if we can get a daily-up rotation over Monday’s high and a push up through $174.10, it could put last week’s high in play, along with the potential for a weekly-up rotation.
Collectively, on a break of Monday’s low, see if Apple can reclaim this mark and give us a bullish reversal setup.
Top Stock Trades for Tomorrow No. 2: Tesla (TSLA)
Source: Chart courtesy of TrendSpider
In early trading, Tesla (NASDAQ:TSLA) gave bulls a quick daily-up, then weekly-up rotation. However, the move couldn’t stick as the overall markets came under too much selling pressure.
Now, Tesla is trying to find its footing near the 10-day moving average. If it can, keep an eye on the $931.50 area, which has given it trouble the past few days.
If it can’t hold the 10-day, though, then the $880 level may be in play. A break of this level and failure to reclaim it could open the door to the 200-day moving average.
Top Stock Trades for Tomorrow No. 3: Dogecoin (DOGE-USD)
Source: Chart courtesy of TrendSpider
As we detailed in this column last week, cryptocurrencies have been trading much better lately. That also includes Dogecoin (CCC:DOGE-USD).
Over the last few days, we’ve seen a powerful push higher, which has sent Dogecoin up through all of its short- to intermediate-term daily moving averages, as well as the daily VWAP measure.
Also back above 16 cents, longs have a case to make for Dogecoin.
So long as it can stay above 15 cents — given the number of key levels nearby — bulls will remain in control. On the upside, keep an eye on last month’s high near 21.5 cents, as well as the 200-day.
Top Trades for Tomorrow No. 4: Tyson Foods (TSN)
Source: Chart courtesy of TrendSpider
Tyson Foods (NYSE:TSN) ripped higher on the day, bucking the weakness we’ve seen in the rest of the market.
The move sent Tyson stock into a monthly-up rotation, clearing the January high at $94.09.
The rally came after last Friday’s undercut of last week’s low at $88.20 before a mild bounce set up this monster move. From here, let’s see if TSN stock can get to $100. Not only is this level psychologically relevant, but it’s also near the 261.8% extension.
On the date of publication, Bret Kenwell did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
