\n<\/p>\n
After a slow and somewhat painful Monday, the stock markets burst higher on Tuesday, rallying on impressive upside breadth. With that in mind, let\u2019s look at a few top stock trades as we push through the holiday-shortened trading week.<\/span><\/p>\n Bitcoin<\/strong> (CCC:BTC-USD<\/u><\/strong><\/a><\/span>), Dogecoin<\/strong> (CCC:DOGE-USD<\/u><\/strong><\/a><\/span>) and a whole host of other cryptocurrencies seem to get all the attention, but let\u2019s not forget about Cardano<\/strong> (CCC:ADA-USD<\/u><\/strong><\/a><\/span>).<\/span><\/p>\n The cryptocurrency has not enjoyed a massive run lately, and in fact, Cardano has continued to slide lower as it underperforms its peers.<\/span><\/p>\n Now clinging to the $1.20 level, Cardano bulls are hoping this level holds as support. As we all know though, \u201chope\u201d is not a strategy. Furthermore, the trend is not the bulls\u2019 friend, as Cardano continues to make a series of lower highs.<\/span><\/p>\n A break of $1.20 that isn\u2019t quickly reclaimed could put the $1 level in play. So while cryptocurrencies ebb and flow as the talk of Wall Street, keep this technical alignment in mind.<\/span><\/p>\n We have gone back and forth on the Ark Innovation Fund<\/strong> (NYSEARCA:ARKK<\/u><\/strong><\/a><\/span>) a few times over the last few weeks. The fund is clearly trying to find its footing to call a bottom, but the selling in growth stocks has been relentless.<\/span><\/p>\n On Monday, I was looking for a potential weekly-up rotation over $97.50, following an inside week last week. Then on Monday, ARKK gave bulls and <\/span>inside day \u2014<\/span><\/i>\u00a0opening up the potential for a daily-up rotation over the area near $96.50.<\/span><\/p>\n It didn\u2019t matter which you chose, with ARKK clearing both levels today.<\/span><\/p>\n My preference laid with the first rotation<\/a> \u2014 the weekly-up \u2014 because it\u2019s more significant in my opinion and it would put ARKK back above the bear-market low from May.<\/span><\/p>\n From here, let\u2019s see if we can get a tag of $100 and the 21-day moving average. Above these measures, and the $103 to $104 area could be on the table. Above that puts the 50-day in play.<\/span><\/p>\n However, a break of this week\u2019s low flashes some rather bright caution signs, in my view.<\/span><\/p>\n Pfizer<\/strong> (NYSE:PFE<\/u><\/strong><\/a><\/span>) is another name that has been on our go-to list, given the robust rotation we had last week and the subsequent rally to new highs.<\/span><\/p>\n This morning it pulled back to its 10-day moving average, which set up the dip-buy opportunity for bulls who were prepared. Bouncing hard off this level now, let\u2019s see if shares can get back above $60.<\/span><\/p>\n North of $60 and the highs are back in play at $61.71, followed by $62.75 and then potentially $69 to $70 down the road.<\/span><\/p>\n Rite Aid<\/strong> (NYSE:RAD<\/u><\/strong><\/a><\/span>) has been a dog for most of the year, as it continues to put in a series of lower highs. But the stock may try to end that trend soon.<\/span><\/p>\n Shares are erupting over the 10-day, 21-day and 50-day moving averages on the day, as well as downtrend resistance (blue line). However, the stock is running <\/span>right into <\/span><\/i>the 10-month moving average and the monthly VWAP measure.<\/span><\/p>\n If it can clear this area, the November high is on the table at $15.65. If we get a monthly-up rotation in Rite Aid (and thus, ending the series of lower highs), it could open the door up to $16.50 and the 200-day moving average.<\/span><\/p>\n On the downside, though, let\u2019s see if the 50-day moving average holds as support until some of Rite Aid\u2019s shorter-term moving averages can catch up.<\/span><\/p>\n On the date of publication, Bret Kenwell held a long position in PFE. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <\/span><\/i>Publishing Guidelines<\/span><\/i><\/a>.<\/span><\/i><\/p>\n Bret Kenwell is the manager and author of <\/span><\/i>Future Blue Chips<\/span><\/i><\/a> and is on Twitter <\/span><\/i>@BretKenwell<\/span><\/i><\/a>.<\/span><\/i><\/p>\n<\/p><\/div>\nTop Stock Trades for Tomorrow No. 1: Cardano (ADA-USD)<\/h3>\n
Top Stock Trades for Tomorrow No. 2: The Ark Innovation Fund (ARKK)<\/h3>\n
Top Stock Trades for Tomorrow No. 3: Pfizer (PFE)<\/h3>\n
Top Trades for Tomorrow No. 4: Rite Aid (RAD)<\/h3>\n