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We had a robust upside day on Friday, a choppy day on Monday and we saw more upside follow-through on Tuesday. Bulls\u2019 hope is that Monday was simply a digestion day \u2014 even if it was a bit of a suspect one. With that in mind, let\u2019s look at a few top stock trades after Tuesday\u2019s nice move higher.\n<\/p>\n
Ethereum<\/strong> (ETH-USD<\/u><\/strong><\/a><\/span>) held right where it needed to. It came down with the rest of the crypto group, tagged the $1,725 area and bounced hard. That zone was key support last summer, as Ethereum tested it three times in three months. It looked like it was going to break down then \u2014 boom! \u2014 it roasted higher, nearly testing $5,000 along the way.<\/p>\n Now testing this area again, it held as support the first time around. That said, it\u2019s struggling with the $2,150 region. The 10-day isn\u2019t far off, either.<\/p>\n If it can reclaim them, $2,500 and the 21-day moving average are the next test.<\/p>\n If it can\u2019t reclaim these levels, though, then another test of $1,725 to $1,750 could be on deck. \t<\/p>\n I have been championing Advanced Micro Devices<\/strong> (NASDAQ:AMD<\/u><\/strong><\/a><\/span>) for three reasons:<\/p>\n Now that there\u2019s some relief coming into the market, this is one of the first stocks to bounce. The rally is sending it up through the $100 level, as well as the 10-week and 21-month moving averages. It\u2019s an impressive showing, to say the least.<\/p>\n If AMD can close above $100, the $110 to $112.50 area is not out of the question. There we find the 61.8% retracement of the current leg, as well as the 21-week and 50-week moving averages.<\/p>\n If AMD is really hot, it could open the door to the $125 to $128 range. On the downside, however, use caution below $99, as it puts today\u2019s low back in play near $97.50. Below that opens the door to the low $90s. \t<\/p>\n A weekly-up rotation looms in Amazon<\/strong> (NASDAQ:AMZN<\/u><\/strong><\/a><\/span>) if the stock can clear $2,280.<\/p>\n In that scenario, bulls can use this week\u2019s low near $2,220 for a potential low-risk rotation trade. A daily close above $2,280 could set the stage for a more potent rally, potentially opening the door to three predictable yet possible upside targets: $2,400, $2,450 and $2,500.<\/p>\n Above $2,550 and there is a gap-fill near $2,800. On the downside, failure to rotate could keep sub-$2,200 on the table. \t<\/p>\n The price action in Global-E Online<\/strong> (NASDAQ:GLBE<\/u><\/strong><\/a><\/span>) is unbelievable today.<\/p>\n Last night, shares traded lower by 28.5% in the after-hours session after reporting earnings. Today it opened just below the all-time low of $15.87, tagged $15.75, then reversed higher.<\/p>\n It even went outside-weekly-up, making new lows this week and then going weekly-up over last week\u2019s high of $20.91. Now up 16.5% on the session, GLBE is impressing.<\/p>\n If it continues higher, $25 to $26 is the upside target. That is the breakdown area and where the declining 10-week comes into play. Back below $20 and investors should be a bit more cautious, as it does leave the lows in play.<\/p>\n On the date of publication, Bret Kenwell held a long position in GLBE. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines<\/a>.<\/em><\/p>\n<\/p><\/div>\nTop Stock Trades for Tomorrow No. 2: Advanced Micro Devices (AMD)<\/h3>\n
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Top Stock Trades for Tomorrow No. 3: Amazon (AMZN)<\/h3>\n
Top Trades for Tomorrow No. 4: Global-E Online (GLBE)<\/h3>\n