5 Top Stock Trades for Friday Morning 24 May 2018:- President Trump decided to pull out of his meeting with North Korean leader Kim Jong Un and that’s left stocks under pressure. Here’s our top stock trades as a result.
1: Advanced Micro (AMD)
(NASDAQ:AMD) has been doing it all week. AMD was able to not only hold up on Thursday, but actually push through resistance.
2: J&J (JNJ)
Despite a fragile strip of support near $122, JNJ may be headed lower. Between $117.50 and $120 there should be decent support. It’s 2.95% dividend yield will roll up to 3% at that point, which should also aid in share price support.
3: PayPal (PYPL)
After breaking out over downward resistance, PYPL stock pulled back into that level and found it as support. That’s as good of a green light as traders are going to get in the stock market. When resistance becomes support or support becomes resistance, low-risk trade setups appear.
4: Ulta Beauty (ULTA)
After bursting through downtrend resistance in April, Ulta Beauty Inc (NASDAQ:ULTA) didn’t slow down much. The move through $220 carried on to a rally above $250 within just a few weeks.
5: Disney (DIS)
DIS stock either broke through downtrend resistance and then failed to hold, or it failed to breakout altogether, depending on which of the two purple trend-lines investors use. Either way, it doesn’t matter much as it shows the bears still have more control than the bulls.
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