\n<\/p>\n
Bulls are working on a third-straight day where upside volume eclipses the 80% mark. If that\u2019s the case \u2014 even ahead of a holiday weekend \u2014 it shows renewed demand in the market. The key now will be holding the low. With all of that in mind, let\u2019s look at a few top stock trades for next week.\n<\/p>\n
There may be renewed demand in the stock market, but we\u2019re not seeing it in the cryptocurrency market. As the stock market tries to take out last week\u2019s high, Ethereum<\/strong> (ETH-USD<\/u><\/strong><\/a><\/span>) is clinging to this month\u2019s low and key support near $1,730.<\/p>\n If this area fails, bulls risk a deeper decline, potentially down into the $1,400 to $1,500 zone. However, losing this level deals a significant blow to confidence. It\u2019s a major support area, so to see it fail would really show who\u2019s in control \u2014 the sellers.<\/p>\n On the upside, the prior 2022 low near $2,150 was most recently resistance. The 10-day is also active resistance. If Ethereum can clear the latter \u2014 then the 21-day \u2014 it opens the door back to $2,150. \t<\/p>\n The Arkk Innovation Fund<\/strong> (NYSEARCA:ARKK<\/u><\/strong><\/a><\/span>) is key in this market because it\u2019s the bellwether for growth stocks. It\u2019s now going weekly-up, while also clearing the 10-day and 21-day moving averages over the past two sessions.<\/p>\n A close above $44.50 and holding above that level will keep the $50 to $52 area in play. If ARKK gets there, we have the 50-day and 10-week moving averages, as well as prior support turned resistance.<\/p>\n On the downside, however, a drop back below $44 keeps the 10-day and 21-day moving averages in play. Below that and $40 remains vulnerable, followed by $35. \t<\/p>\n The meme stocks have been popping off lately and that includes everything from GameStop<\/strong> (NYSE:GME<\/u><\/strong><\/a><\/span>) to BlackBerry<\/strong> (NYSE:BB<\/u><\/strong><\/a><\/span>). We wrote about GME<\/a> the other day. Now, it\u2019s BlackBerry\u2019s turn.<\/p>\n So far, the stock is taking out the May high, as well as the 10-week and 50-day moving averages. However, it\u2019s stalling at $6.70, which was former support in April and now serves as the 61.8% retracement of the current range.<\/p>\n If it can clear this level, then $7 is in play next. Above that could open the door to the key $8 level.<\/p>\n On the downside, though, bulls don\u2019t want BlackBerry to lose $6. That will put it below almost all of its key measures and moving averages. \t<\/p>\n Dell Technologies<\/strong> (NYSE:DELL<\/u><\/strong><\/a><\/span>) came roaring back to life on Friday, up nearly 13%. However, where it faded from at the session high is significant.<\/p>\n The stock tagged the 61.8% retracement and nearly hit the 200-day. While it\u2019s still up nicely, this area was clearly a \u201ctake profits\u201d zone for investors. Now it gets interesting.<\/p>\n On the upside, this is the clear level to hurdle. Above these two measures and $55-plus is on the table.<\/p>\n On the downside, however, $47 becomes a line in the sand. That\u2019s where we find the 50-day and 10-week moving averages. If Dell breaks below those measures, it could go on to fill the gap down near $44.50.<\/p>\n 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<\/a>.<\/em><\/p>\n<\/p><\/div>\nTop Stock Trades for Tuesday No. 2: ARKK ETF (ARKK)<\/h3>\n
Top Stock Trades for Tuesday No. 3: BlackBerry (BB)<\/h3>\n
Top Trades for Tuesday No. 4: Dell Technologies (DELL)<\/h3>\n