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4 Top Stock Trades for Monday: F, CLX, REGN, LKNCY

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Bret Kenwell
·4 min read
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A slightly disappointing jobs report didn’t stop stocks from rallying to new highs on Friday. Now, let’s look at a few top stock trades for next week.

Top Stock Trades for Monday No. 1: Ford (F)

top stock trades for F
top stock trades for F


Click to Enlarge

Source: Chart courtesy of TrendSpider

Ford (NYSE:F) is moving slightly higher after earnings, but it’s had a choppy few weeks now.

The weekly ranges have tightened, giving us a series of levels to work against.

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On the downside, we need to see the $10.45 area hold. A move below that will put the 10-week moving average in play, followed by the $9.40 to $9.50 area. There it will find the Q1 2020 high along with the 200-week moving average.

On the upside, though, look for a move over the $11.50 zone, followed by this week’s high at $11.90. On a weekly-up move, look for the 52-week high to be tested at $12.15, then the 161.8% extension near $12.80.

That’s a lot of numbers and prices. The bottom line: watch how Ford handles key levels. As they break (on either the upside or the downside), just turn your attention to the next.

Top Stock Trades for Monday No. 2: Clorox (CLX)

top stock trades for CLX
top stock trades for CLX


Click to Enlarge

Source: Chart courtesy of TrendSpider

Clorox (NYSE:CLX) has been so strange lately. I was ready when the stock gave use a monthly-up rotation on Jan. 25.

However, I was not expecting it to rally almost 11% at its session high, nor climb 17.6% in six trading sessions. That’s not what we expect out of a company like Clorox.

Now the stock has cascaded down from those highs and the post-earnings reaction isn’t giving it a lift either. We need to see it hold the $193 area, which it’s failing to do at the moment.

What now? Simple. Wait for CLX stock to reclaim $193. With any luck, it will do so soon and we’ll have a shallow downside level to measure against. A close below $190 and perhaps CLX stock will need to decline further before firming.

Top Stock Trades for Monday No. 3: Regeneron (REGN)

top stock trades for REGN
top stock trades for REGN


Click to Enlarge

Source: Chart courtesy of TrendSpider

Regeneron (NASDAQ:REGN) has been all over the place too. After a false breakdown in December below $471.50, share ripped higher. The stock climbed in 11 of 12 sessions, eclipsing $550 in the process.

However, the stock then fell in six of the next seven sessions, breaking below $500. It’s been a mess.

Regeneron reported earnings this morning, popping higher in the process. But shares were rejected by several key moving averages while failing to hold the 50-day moving average in the process.

If REGN stock can take out its post-earnings high near $515, then a move back to the $535 to $540 area is possible. There it finds the 100-day moving average and downtrend resistance. Above puts the recent high in play at $558.91.

On the downside, however, a break of this week’s low near $490 puts the $471.50 area back on watch.

Top Stock Trades for Monday No. 4: Luckin Coffee (LKNCY)

top stock trades for LKNCY
top stock trades for LKNCY


Click to Enlarge

Source: Chart courtesy of TrendSpider

This one still trades? You bet! But Luckin Coffee (OTCMKTS:LKNCY) hasn’t been the same since its fraud charges last year.

Rather than trading this one, I wanted to highlight Luckin as a learning opportunity. It’s a lesson to avoid the names that don’t have any business being traded.

Sure, the stock went from $5 in December and hit $15 last month. But once it’s trading over-the-counter, all bets are off for most traders , be it for liquidity, quality, etc. This name has been in the garbage can for almost a year now and Friday’s 46% haircut underscores why, as Luckin files for Chapter 15 bankruptcy.

There are hundreds of quality stocks to trade at any given time. Pick from one of the higher-quality ones. Remember, as traders, risk is always our top concern. And don’t let FOMO creep up on you, as there’s always another trade!

On the date of publication, Bret Kenwell did not have (either directly or indirectly) any positions in any of the securities mentioned in this article.

Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell.

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