💡Trade Ideas — $WMT, $GPRO, $FB, $EA, $SHOP, $TSLA

April 30, 2017

Need some trading ideas to get the week started? We’ve got you covered! This is our weekly issues May 1 — May 5 where we go over macro economics, economic calendar, upcoming earnings and list a few trade ideas.

Market

Last week was bullish for the US stock market. Maybe a little too bullish as many tickers went into overbought territory.

Technology stocks were up nicely in general last week as earning releases showed better than expected results.

Favorite ETFs

$SPY — After a nice uptrend two weeks ago last week showed weakness as overbought appeared Thursday, 4/27/17.

$USO — Oil was volatile last week, and $USO saw the same. Trading is near the strong $10 support and a bounce is expected soon.

$GLD — Chart analysis shows this gold ETF trading at support of its upward price channel. If equities retreat this week then gold may be sought.

$XLF — This financial ETF showed weakness last week. Profit taking for financial tickers is expected to continue and Puts for $XLF should rewards traders.

Economic Calendar

Earnings Calendar

$WMT — Wal-Mart Stores Inc.

$WMT hit an important resistance last week and showed signs of dipping. The company’s ER is 5/18/17 so a dip before a rip is expected.

Catalyst- Technical trade

Trade- BUY $76.00 May 5, 2017 Puts

$GPRO — GoPro, Inc.

$GPRO actually had an ER beat 4/27/17 but other values in the quarterly report spooked some traders. The $8.25 support was reached after the Friday’s dip and analysts are still bullish on the ticker.

Catalyst- Post-ER

Trade- BUY $8.00 May 19, 2017 Calls

$EA — Electronic Arts Inc.

$EA has its ER 5/9/17. A nice uptrend has occurred the past few weeks and a dip may be in order before ER allowing Calls to be cheaper before the expected ER beat.

Catalyst- Pre-ER

Trade- BUY $95.00 May 19, 2017 Calls

$SHOP — Shopify Inc.

$SHOP has its ER 5/2/17 with a wider loss projected than any quarter the past two years. The company is trying to build its market share so profitability isn’t expected for a few more years, but an ER beat can be very helpful to this stock’s value.

Catalyst- Pre-ER

Trade- BUY $85.00 May 19, 2017 Calls

$FB — Facebook, Inc

$FB has its ER 5/3/17. Chart analysis shows an exhaustion candle from last Friday trading similar to one that appeared last January. The difference this time is that $FB has its ER in three days and the bulls could continue to win through half this week.

Catalyst- Pre-ER

Trade- BUY $155.00 May 5, 2017 Calls

$TSLA — Tesla Motors, Inc.

$TSLA ER is 5/3/17 with negative profits expected to keep decreasing. Chart analysis shows a nice upward price channel going into ER. This ticker can rise and fall quickly making options very profitable if the correct trend is chosen.

Catalyst- Pre-ER

Trade- BUY $330.00 May 5, 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.

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