💡Trade Ideas — $PLAY, $JKS, $RH, $BKS, $PAY, $KR
September 4, 2017
Need some trading ideas to get the week started? We’ve got you covered! This is our weekly issues September 5 — September 8 where we go over macro economics, economic calendar, upcoming earnings and list a few trade ideas. This is a short trading week due to Labor Day so Volume may be lower.
The market was very bullish last week as many tickers rocketed to six month resistances or new 52 week highs. September is generally a down month if you rely on the main media articles.
Favorite ETFs
$SPY — The $248 resistance held last week so we’ll see trend indication this week.
$GLD — This gold ETF saw quite a bit of volatility. The $123 resistance was defeated however so the uptrend may continue.
$USO — The downtrend pattern remained intact last week and is expected to continue.
$IBB — This biotechnology ETF broke the 6-month resistance and made a 52-week high.
$EEM — Emerging market stocks have been on a nice uptrend in 2017. The uptrend looks to continue this week.
I’ve scrapped together six trading suggestions for pre-ER targets as this earnings season fades.
$PLAY — Dave & Buster’s Entertainment, Inc.
Dave & Buster’s ER is 9/5/17 after hours. The company has a history of ER beats. The stock saw a slight rebound off its 6-month resistance.
Catalyst — Pre-ER
Trade — BUY $60.00 September 15, 2017 Calls
$JKS — JinkoSolar Holding Company Limited
JinkoSolar’s ER is 9/6/17 before open. The company has a mixed history of ER beats and has wild swings in profit each quarter. The stock hit its 6-month resistance last week.
Catalyst — Pre-ER
Trade — BUY $28.00 September 15, 2017 Puts
$RH — Restoration Hardware Holdings, Inc.
Restoration Hardware has its ER 9/6/17 after hours. The company generally beats expectations but doesn’t have consistent profit growth. The stock hit is $45 6-month support last week and bounced.
Catalyst — Pre-ER
Trade — BUY $51.00 September 8, 2017 Calls
$BKS — Barnes & Noble, Inc.
Barnes & Noble has its ER 9/7/17 before open. The company has been missing expectations the past four quarters. Since last ER the stock has uptrended with volatility but has not failed well after ERs.
Catalyst — Pre-ER
Trade — BUY September 15, 2017 Puts
$PAY — VeriFone Systems, Inc.
VeriFone’s ER is 9/7/17 after hours. The company’s profit has been on a decline quarter over quarter. Last week the stock hit its $20 6-month resistance.
Catalyst — Pre-ER
Trade — BUY $20.00 September 15, 2017 Puts
$KR — The Kroger Company
Kroger has its ER 9/8/17 before open. The company has a mixed history of ER beats. Last ER the company stock value fell 33% and has traded at the $22 support since. Call option volume has been high in the September 8 expiration.
Catalyst — Pre-ER
Trade — BUY $22.00 September 8, 2017 Calls
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.
