Morning Stock Prep – Watchlist for May 9, 2019

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    Morning Stock Prep – Watchlist for May 9, 2019

    Today will one another interesting day where any news could move stock significantly. Just look at the intraday on the SPY yesterday, it’s full of ups and downs. Very choppy markets until this US-China deal is resolved.
    Trump at a rally in Florida mentioned that he would be fine with a tariff on China, but also said he is confident that a deal will be reached.
    Some of the Cannabis stocks seemed to have gotten some news this morning, with NBEV increasing revenue around 400%. Let’s see how that sector behaves today.

    Bullish Watch:
    ROKU – Seem like the subscribers increased, already up about 10%
    TPR – Announce $1Billion in stock buyback, could get a move up into the gap and $39 range.
    CVM – Increased volume, could get over 8.50 and run into the gap above
    NBEV – Earnings out of the way, 404% revenue growth. Watch Cannabis sector YOLO is the ETF

    Bearish Watch:
    PEGI – Volume drop, has history of continuing. Could see 21.30’s
    MEET – drops on earnings, could have room to lower $4’s
    GPRE – drops on earnings and volume, room to $15, below $15 it could break channel and drop to 14’s.
    ENR – drops on volume and full red candle, could have more downside, currently at support, a breach could drop harder.
    CROX – down on earnings, could get into gap and test the 22 range. Have you been to a crocs store recently? They have lost their charm, and might have too much competition. Could see move into gap. 22 support.
    SKX – Crossed resistance into gap, could see $28 range.
    INTC could see another drop as the company announced modest profit growth over the next 3 YEARS. I can see a lot of institutions bailing out here. Room to about 46.20 range and 44.
    BA – Afraid of Flying? Even Kevin O’leary sold, says he would look to buy around 288 range, and that it could get there.

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