5 Top Stock Trades for Tuesday: BAC, NFLX, ATVI, INTC



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Worries over an inverting yield curve, a solid predictor of future recessions, caused investors to worry last week. However, they are having trouble pinning down whether it’s a natural function of the bond market or a circumstance of artificially low global rates and a Fed that’s been raising short-term rates. Let’s use that to lead into our top stock trades for Tuesday.

Top Stock Trades for Tomorrow #1: Bank of America

Bank of America (NYSE: BAC ) was hammered last week on these yield inversion worries . Right as the stock was breaking out beautifully over $29.50, shares tumbled back below resistance and cratered toward $28 support.

However, that level didn’t provide much help, as BAC quickly fell below $27 last week. After consolidating those losses, shares are showing some life now back above $28.50 and BAC is looking much better.


It’s not out of the woods yet, though. Bulls need to see $28 hold as support. Preferably, it can move higher and close above the 50-day moving average later this week. But limiting our risk is key and that means holding $28. If that fails, $27.50 and last week’s lows are possible. If it holds, $29.50 resistance is back on the table.

Top Stock Trades for Tomorrow #2: Netflix


Netflix (NASDAQ: NFLX ) continues to slowly chop higher, putting in a series of higher lows and higher highs (purple arrows). $380 is proving to be a key level and should shares breakout over this mark, a run to $400 is possible.

Channel support and the 50-day moving average are key right now. A close below this mark puts a retest of the 200-day back on the table. Keep it simple.

Top Stock Trades for Tomorrow #3: Intel


This $54 to $55 level has been notable in the past for Intel (NASDAQ: INTC ). If Nvidia (NASDAQ: NVDA ), Advanced Micro Devices (NASDAQ: AMD ) and other chip makers can remain hot, bulls will certainly be looking for a breakout in INTC over this level.

If it does, it certainly puts the prior highs near $56 in play, while Intel has rather quietly been performing quite well. If resistance holds up, look for a buying opportunity near uptrend support/the 50-day moving average. More aggressive bulls can buy a test-and-hold of the 20-day moving average.

Top Stock Trades for Tomorrow #4: Activision Blizzard


Wedbush analysts named Activision Blizzard (NASDAQ: ATVI ) one of its best ideas on Monday, helping the stock to a 3% gain on the day. After hitting a low near $40 in February, shares have been steadily trending higher, putting in a series of higher lows.

It’s now above its 50-day and 20-day moving averages and a close over $48 could really ignite this name. If it can, $55 is a potential upside target, while a run to the 200-day could eventually be in the cards after some consolidation.

However, if this stock loses the $45 level and the 50-day, it could be in trouble. The decline below $40 didn’t pan out, but keep in mind, the 200-week moving average is up near $50 .

Top Stock Trades for Tomorrow #5: Tandem Diabetes Care


While the rest of the market is enjoying nice gains on the day, Tandem Diabetes Care (NASDAQ: TNDM ) is not. Shares are down almost 6% on Monday – and more losses could be on the way.

The late-February gap-up open came near $60 and this level has buoyed the stock several times since. However, the 20-day moving average is now acting as resistance, while uptrend support is down near $57.50. The downside targets then include the 50-day and the gap-fill down near $50.


In the short-term and on the long side, I need to see $50 hold as support and TNDM close above the 20-day to be interested in buying.

Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell . As of this writing, Bret Kenwell is long NVDA. 

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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.



















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