Trade Ideas — $KORS, $DF, $LEN, $PACB, $MYL, $D
August 7, 2016
Need some trading ideas to get the week started? We’ve got you covered! This is our weekly issue August 8— August 12 where we go over macro economics, economic calendar, upcoming earnings and list a few trade ideas.
In the US, nonfarm payrolls were up while the unemployment rate remained unchanged. The ISM manufacturing index came in a little weak but still shows strong progress on the factory sector as new orders remained elevated.
Globally, the Bank of England announced easing steps in the aftermath of Brexit concerns.
The US stock market was bullish last week. $SPY continues its yearly high. $GLD fell from resistance as expected. $USO gained as expected from its support.
As we approach the Late phase of the business cycle we will see Energy, Healthcare, and Materials sectors do well. Consumer Staples and Utilities will start to trend upward as well. Many analysts have the US in the Mid business cycle phase still but the sectors noted above are showing uptrends besides Utilities overall.
$KORS — Michael Kors Holdings Limited
Catalyst- Before ER 8/10/16.
$KORS bounced off its $46.50 support last week and just in time for its ER expected 8/10/16. $KORS has a history of beating ER expectations. Resistance looks to be in the $53.50 area.
$DF — Dean Foods Company
$DF has a history of beating ER expectations. The stock was downtrending before ER after testing its strong 6-month $19 resistance. Support looks to be in the $18 area.
Catalyst- ER 08/08/16.
$LEN — Lennar Corp.
$LEN is trading higher as it bounced off support of $42.25 last week. News is rosy for home builders.
Catalyst- Technical Support.
$PACB — Pacific Biosciences of California, Inc.
$PACB has a spike in 8/5/16 trading after positive ER were announced. I’m awaiting the $8–8.50 area to trade Calls and expect that area to appear this week as the stock hit $9.25 resistance. the stock has been uptrending mainly since early June.
Catalyst- ER 08/04/16.
$MYL — Mylan N.V.
$MYL is at its $49 6-month resistance. Chart analysis shows an overbought ticker as resistance was tested 8/5/16. ER may give a clear trend perspective.
Catalyst- ER 08/09/16.
$D — Dominion Resources, Inc.
$D beat ER expectations last week but continued a short-term downtrend as the Utilities sector fell a bit overall last week. We could see a $76 area support bounce next week.
Catalyst- ER 08/03/16.
Happy Trading!
Disclaimer
This is not an investment advisory, and should not be used to make investment decisions. Information in All Things Stocks is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don’t consider buying or selling any stock without conducting your own due diligence.
