Morning Market Briefing – Finding Value

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Morning Market Briefing – Finding Value

Morning Market Briefing

Morning Market Briefing – Finding Value

February 26, 2020

Have you seen our live shows? Join us for “The Trend” each market morning at 9:00AM EST, and “Beyond the Bell” at the close. See what’s trending in the markets and find out what our traders are watching each day! Check them out on the “Insights” tab.

As swing traders, we look for value. As the talking heads wring their hands on TV, we sit back and hunt for stocks that have room to move in either direction. As the markets had one their strongest down days since the COVID crash, we calmly looked for areas of support, either in the markets themselves or individual names. This puts us in position to have possible trades regardless of the market’s direction going forward. If we base and bounce, we can look for stocks doing the same. If we continue lower, we look for fresh support breaks. Either way we remain methodical and as emotionless as possible.

380 price level and 50 SMA are next areas of support to watch.

First close below the 50 SMA since November 3rd. Tuesday’s low of 311 next area to watch.

Watch List

Symbol Why We’re Watching
DIS Held 8 EMA yesterday, watch for a bounce from there.
CRM Break of 230 price level could take us to the 200 SMA
INTC Caught between 60 and 63 price levels.
NFLX Held up better than most yesterday, watch for push to 560 price level.
MSFT Watch 50 SMA for base and bounce or breakdown.

YouCanTrade Scanner Ideas

Symbol Idea Direction
BABA Short
C Long
CLX Short
UPS Short
ZM Short

For more information on the YouCanTrade scanner, click here. 

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