4 most popular stocks for Tuesday: MJ, NWL, CIIC, BNGO – Report Door

We are getting a very tight trading range this week S&P 500 keeps the damage limited, but also does not allow much upward traction. Will shares be redeemed higher or lower in the coming holiday shortened week? We will know soon enough. With all this in mind, let’s look at some of the best stock trades in the meantime.

Top stock trades for Tuesday No. 1: MJ ETF (MJ)

the best stock trades for MJ

Click to enlarge

Source: Card with permission to TrendSpider

The cannabis trade has been volatile this week with big gains and large losses that take place. It has created an uneven ride too ETFMG Alternative Harvest ETF (NYSEARCA:MJ).

For several days, it looked like the ETF would hold up above the 200-week and 10-day moving averages. However, it is struggling to stay above these brands now as well as the 161.8% expansion.

InvestorPlace – Stock Market News, Stock and Trading Advice

A move back above 161.8% could open the door back to $ 30 plus. Above the current high, the 261.8% expansion is possible near $ 36.

If the MJ ETF moves below Friday’s low, a drop to $ 20 is possible – with a moving average of 10 weeks and 50 days in the game below it.

Top Stock Traders for Tuesday # 2: Newell Brands (NWL)

the best stock trades for NWL

the best stock trades for NWL

Click to enlarge

Source: Card with permission to TrendSpider

Newell Brands (NASDAQ:NWL) does not act well on earnings, fell nearly more than 7% on Friday.

The stock made a very clear attempt to regain the 200-week moving average, but did not. That leaves it, in my opinion, vulnerable to lower prices. If stocks record Friday’s low, look for a 10-week and 50-day moving average test.

If this fails, a prolonged decline to the 21-week moving average and $ 21 level may be okay.

On the plus side, though, NWL is regaining its 200-week moving average, followed by a hole-in-one up to $ 26. .

Top stock trades for Tuesday No. 3: CIIC merger (CIIC)

the best stock trades for CIIC

the best stock trades for CIIC

Click to enlarge

Source: Card with permission to TrendSpider

CIIC Fusion (NASDAQ:CIIC) has been interesting lately as stocks are consolidating within a tight range.

We get several inside days in a row as the 50-day moving average and resistance to downward trend (blue line) continues to hold a lid on the CIIC stock. A move across these brands puts $ 30 resistance into play.

If CIIC stock can handle $ 30, it can place 61.8% retracement of the current range on the table, close to $ 32.50. Above opens the door to a genetic test of the heights near $ 37.

On the downside, however, a break in the 10-week moving average could put the $ 25 to $ 25.50 range in play.

Top Dealer for Tuesday # 4: Bionano Genomics (BNGO)

the best stock trades for BNGO

the best stock trades for BNGO

Click to enlarge

Source: Card with permission to TrendSpider

Bionano Genomics (NASDAQ:BNGO) rips higher on Friday and ends 17% higher on the day. The move pushed stocks above $ 12.50 resistance and at least temporarily sent the stock to new heights.

Learn to spot these types of patterns.

The stock has been strong for several months and then gave us a sharp pull to the 10-day moving average – the first setup we like for a bounce. We got the initial rejection, but it was followed mostly by sideways consolidation, which is just fine.

Traders could have played bounce and bailed during consolidation if they chose to. However, the stock continued to run on the 10-day moving average, showing that the bulls are engaged and accumulating on dip.

As the stock went above $ 12.70 a week, retailers sought a pull back toward the $ 13.85 high. A few dealers probably reserved some profits in that zone. If they had a sub-position, they are probably looking for a move up to $ 15 and potentially up to 161.8% expansion near $ 16.50.

At the date of publication, Bret Kenwell held (neither directly nor indirectly) any positions in any of the securities mentioned in this article.

Bret Kenwell is the leader and author of Future Blue Chips and is on Twitter @BretKenwell.

More from InvestorPlace

Post 4 Top Stock Trades for Tuesday: MJ, NWL, CIIC, BNGO first appeared on InvestorPlace.

Spread the love
[ Sharing is Caring! ]

More Tags We Love

is american national a good insurance company low cost auto insurance texas health insurance companies in canada how to use health insurance card car insurance for over 50s auto insurance best rates review auto insurance florida cheap car insurance for how much is auto insurance for a 20 year old car insurance companies

This div height required for enabling the sticky sidebar