U.S. Markets closed

5 Top Stock Trades for Monday

Bret Kenwell

With the Fourth of July holiday quickly approaching, many traders are hitting the road and taking a few days away from the screens. For those who aren’t, here’s a look at a few top stock trades to watch next week.

Top Stock Trades for Tomorrow #1: Nike (NKE)

top stock trades for NKE Earnings

What a turnaround Nike (NYSE:NKE) has shown over the last year. Shares are exploding Friday, up more than 10% after better-than-expected earnings results. No surprise here.

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

Anyway, I would have salivated at the chance to chomp into NKE stock on a pullback into the $68 to $70 level. Now up to $80, we have to see how it trades. My guess? Pending a market-wide reversal, Nike will consolidate and continue higher.

But like I said, it’s just a guess for a reason and right now we don’t have enough conviction to buy or sell. Let’s put NKE on the go-to list and see how it trades going forward.

Know though that if we get a big summer swoon, Nike is one to buy in the $68 to $70 area.

Top Stock Trades for Tomorrow #2: Constellation Brands (STZ)

top stock trades for STZ

Constellation Brands, Inc. (NYSE:STZ) is a great company, but it couldn’t maintain the insane rate of growth it had been putting up year after year. A high valuation is starting to catch up with those slowing rates of growth and missing on quarterly earnings isn’t helping its case.

Still, STZ stock showed a strong bounce off its $215 lows, the same lows that STZ made in May.

Now back over the 200-day moving average, aggressive bulls can take a stab at the name and use that level as their stop-loss. I’d rather give STZ a few more trading sessions and see how it trades in the beginning of the third quarter to get a feel for where it’s heading.

While it’s a bit extreme, I would much rather gobble up STZ down near $204 though, just like buying Nike on an extended decline.

Top Stock Trades for Tomorrow #3: JPMorgan Chase (JPM)

top stock trades for JPM

JPMorgan Chase & Co (NYSE:JPM) saw a quick pop on Friday, but those gains evaporated toward the close. It still seems like the bank stocks simply can’t catch much of a bid.

That’s despite JPMorgan giving a significant boost to its capital return plans, bumping its quarterly dividend to 80 cents from 56 cents, an increase of 42%. Additionally, it can purchase up to almost $21 billion worth of common stock with its buyback.

Unfortunately, after initially rallying over $106 per shares, JPM was unable to close above this mark. This area was a big level of support in 2018, but as they say, the more times a level is tested, the more likely it is to break.

That’s what we’re seeing with JPM and if it can’t get back above this mark, it could turn to resistance. The looming downtrend of resistance doesn’t help matters.

Could we chalk this up to the opposite of window dressing, with fund managers not wanting to have a lot of JPM on their books for their end-of-quarter marks? Perhaps. But with a low valuation, solid growth, a big buyback and now a dividend yield of 3%, it’s hard to ignore JPM stock. Let’s see if it can get back above $106 though.

Top Stock Trades for Tomorrow #4: Bank of America (BAC)

top stock trades for Q3

Like JPMorgan, Bank of America Corp (NYSE:BAC) couldn’t hold onto its initial gains either. It popped higher in the morning, running into previous support and failing to break through.


While its capital return bump wasn’t as significant, there are still a lot of reasons to like BAC. Higher interest rates improve its profitability, while solid growth and a low valuation continue to make Bank of America a solid stock to hold.

With virtually the same setup as JPM though, we need to wait for BAC to get back above $29 before going long.

Top Stock Trades for Tomorrow #5: Intel (INTC)

top stock trades for June

Intel Corporation (NASDAQ:INTC) has been struggling but bounced back on Friday. Can it last? Perhaps so, but if not, we need to know where INTC could be heading.

After INTC broke below key trend-line support, it was clear shares could be in trouble. The resignation of CEO Brian Krzanich didn’t help matters.

I would watch the $46 to $47 area, where the 200-day moving average and previous support could come into play. If it holds up, INTC is a solid risk/reward buy. Below though and the $42 to $43 area is likely on the table.

Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell did not have a position in any aforementioned securities.

More From InvestorPlace

Compare Brokers

The post 5 Top Stock Trades for Monday appeared first on InvestorPlace.

  • Wall Street is ignoring a risk related to a key part of Nvidia's business, UBS says (NVDA)
    Business
    Business Insider

    Wall Street is ignoring a risk related to a key part of Nvidia's business, UBS says (NVDA)

    Nvidia unveiled its new graphics-card lineup GeForce RTX series in August, which improves the gaming experience through new features. The timing causes a huge risk in Nvidia's chip transition period, RBC says. Wall Street analysts have ignored a major uncertainty in Nvidia's gaming business— a timing risk of its chip transition period, UBS says.

  • 2 More Marijuana Stocks Are Moving to the NYSE
    Business
    Motley Fool

    2 More Marijuana Stocks Are Moving to the NYSE

    This year, we've witnessed GW Pharmaceuticals gain approval in the U.S. for the first cannabis-derived drug, and we watched as Vermont legalized recreational marijuana use entirely through the legislative process. This began with Cronos Group at the end of February, when it chose to list its shares on the Nasdaq. It was followed just a few months later by Canopy Growth Corp., which became the first marijuana stock to list on the NYSE.

  • Aetna (AET) Q3 Earnings Preview: How Are Events Shaping Up?
    Business
    Zacks

    Aetna (AET) Q3 Earnings Preview: How Are Events Shaping Up?

    Wall Street expects a year-over-year increase in earnings on higher revenues when Aetna (AET) reports results for the quarter ended September 2018. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on October 30.

  • Companies Say They're Ready to Move Supply Chains From China
    Finance
    Bloomberg

    Companies Say They're Ready to Move Supply Chains From China

    U.S. President Donald Trump imposed a 10 percent tariff on $200 billion of Chinese imports in September -- following an earlier round of tariffs on $50 billion of goods -- and promised to raise the duty to 25 percent in January. "We’re pro-actively taking action," Todd Bluedorn, chief executive officer of the Texas-based HVAC company, told analysts during an Oct. 22 earnings call.

  • Tesla Stock Is Up 10.2%: What’s Helping It Defy Gravity?
    Finance
    Market Realist

    Tesla Stock Is Up 10.2%: What’s Helping It Defy Gravity?

    Tesla (TSLA) stock appears to be defying gravity today and is rallying despite the broader market sell-off. Today at 1:08 PM EDT, Tesla stock was up 10.2% from the previous session’s closing price. Earlier today, Citron Research—one of the Tesla bears—surprised the market by turning positive on TSLA for the first time.

  • Why Investors Are Paying a Premium for These 3 Biotech Stocks
    Business
    Motley Fool

    Why Investors Are Paying a Premium for These 3 Biotech Stocks

    Amarin stock exploded in September because it looks like Vascepa will become the next go-to drug for this enormous population. During the 8,179-patient Reduce-It trial, patients given Vascepa in addition to their normal statin treatments were 25% less likely to suffer a major cardiovascular event such as a heart attack. Over the past year, Amarin Corporation actually lost $92 million because sales of Vascepa just haven't kept pace with operating expenses.

  • 5 Deeply Discounted Value Stocks That Haven't Been This Cheap in at Least a Decade
    Business
    Motley Fool

    5 Deeply Discounted Value Stocks That Haven't Been This Cheap in at Least a Decade

    October has been a wake-up call for investors that the stock market won't go up in a straight line, even if we'd like it to. Sure, Bank of America (NYSE: BAC) has seen its stock catapult higher from its Great Recession lows, but its forward P/E of 9.8 would represent a more-than-decade low for the stock.

  • Finance
    CNBC

    Here's the tax bite on $1.6 billion Mega Millions and $620 million Powerball jackpots

    Strategies can be employed to reduce the amount of your win that is taxed, although they are best explored with the help of an experienced tax advisor. While it's anyone's guess who will end up winning the Mega Millions and Powerball jackpots, there's at least one guaranteed recipient of a chunk of the loot — the IRS. With the Mega Millions jackpot at $1.6 billion and Powerball's top prize at $620 million, that tax bill will be hefty even if the winner employs strategies to reduce their taxable income.

  • Suze Orman missed the point of retirement, and that’s why she went back to work
    News
    MarketWatch

    Suze Orman missed the point of retirement, and that’s why she went back to work

    Suze Orman did a smackdown of the FIRE (Financial Independence/Retire Early) movement on Paula Pant’s podcast. Coach Carson posted a balanced, informative response, appreciating Suze’s admonition to be sure you have enough for a risk-free retirement. Suze enumerated a string “what can go wrong” scenarios as evidence that early retirement (on less than $10 million) leaves you vulnerable when life hands you lemons — a whole tree of lemons.

  • MARKETS: Here's why stocks are selling off right now and what a bottom would look like
    Business
    Yahoo Finance Video

    MARKETS: Here's why stocks are selling off right now and what a bottom would look like

    Live from the floor of the New York Stock Exchange, Yahoo Finance's Jared Blikre joins Seana Smith to discuss the latest market moves.

  • The stock market's 'dead cat bounce' is over and the rolling bear market is making a comeback, Morgan Stanley says
    Business
    Business Insider

    The stock market's 'dead cat bounce' is over and the rolling bear market is making a comeback, Morgan Stanley says

    The stock market may have bounced back following its sharp sell-off at the beginning of October, but Morgan Stanley says the selling is going to pick back up soon. Tread carefully in tech and consumer discretionary, Morgan Stanley warns.

  • Business
    Motley Fool

    Parsing Visa's Big Quarterly Dividend Hike

    The ubiquitous financial services player Visa (NYSE: V) isn't exactly an income stock -- its dividend yield has fairly consistently been below 1% for years. Which raises two interesting questions for MarketFoolery host Chris Hill and senior analyst Jason Moser. In this segment from MarketFoolery, they discuss Visa's cash cow structure, its stock repurchases, and the M&A possibilities it thus far seems to be ignoring.

  • News
    CNBC

    Here's how much money you should have saved by 50

    Fidelity, the nation's largest retirement-plan provider, recommends having the equivalent of six times your annual salary saved. To get to that number, Fidelity recommends saving 15 percent of your annual income. Make sure to invest these funds instead of leaving them in a traditional low-interest savings account.

  • These stocks may be sacrificed in a cold war with China
    COL
    CNBC Videos

    These stocks may be sacrificed in a cold war with China

    Jim Cramer says the escalation in the United States' trade war with China could end in an outright cold war that debilitates parts of the stock market.

  • Why Nektar Therapeutics Crashed 17.2% Today
    Business
    Motley Fool

    Why Nektar Therapeutics Crashed 17.2% Today

    After delivering a disappointing update on NKTR-214 in cancer patients this summer, Nektar Therapeutics' (NASDAQ: NKTR) shares have been struggling. The company didn't report any news today, so a negative report issued by Plainview LLC this month may be to blamed for its 17.2% tumble today. In February, Bristol-Myers Squibb (NYSE: BMY) inked a blockbuster deal to license rights to NKTR-214 following positive data last year for NKTR-214's use alongside Bristol-Myers' Opdivo.

  • Business
    Benzinga

    Morgan Stanley: 6 Ways Caesars Entertainment Can Create Value

    Gaming operator Caesars Entertainment Corporation (NASDAQ: CZR) boasts multiple upside catalysts that imply the stock is undervalued, according to Morgan Stanley. The Analyst Morgan Stanley's Thomas Allen initiated coverage of Caesars Entertainment 

  • Why These 3 Top Marijuana Stocks Slumped Today
    Business
    Motley Fool

    Why These 3 Top Marijuana Stocks Slumped Today

    With earnings season hitting a crescendo this week, investors are looking closely at the specific prospects for certain corners of the market, and that's contributing to disparities among the various major benchmarks followed most often by investors. Amid the crosscurrents, marijuana stocks took particularly hard hits, and New Age Beverages (NASDAQ: NBEV), Tilray (NASDAQ: TLRY), and Canopy Growth (NYSE: CGC) were among the worst performers on the day. All three of these stocks have given back some of their gains following the long-awaited legalization of recreational cannabis in the Canadian market last week. In the month leading up to the Oct. 17 start date for legal cannabis sales, New Age Beverages tripled in value, while Tilray had more than doubled since the end of August, and Canopy Growth had seen more modest gains of between 10% and 20%.

  • Trump’s Tax Push to Help Middle Class Could Help Top Earners Too
    Politics
    Bloomberg

    Trump’s Tax Push to Help Middle Class Could Help Top Earners Too

    It’s still unclear how Trump will propose to reduce the tax burden on middle-class Americans, but one of the most straightforward ways would be to lower rates by 10 percent for single filers making up to $82,500. U.S. income tax rates are graduated and income dollars get taxed in chunks as they move up through the brackets -- which means wealthy Americans would also get to apply the reduced rate on their first dollars of income. “A millionaire gets the same size tax cut,” said Kyle Pomerleau, an economist at the conservative Tax Foundation.

  • Is the New Energy Transfer LP a Buy?
    Finance
    Motley Fool

    Is the New Energy Transfer LP a Buy?

    Last week, Energy Transfer LP (NYSE: ET) emerged on the scene after the former Energy Transfer Equity completed the acquisition of its affiliate Energy Transfer Partners in a unit-for-unit exchange that simplified this complex midstream franchise. The transaction also created a much stronger company that has the financial resources to fund a significant slate of expansion projects. The new Energy Transfer is a behemoth in the midstream sector.

  • What the Market Missed in Kinder Morgan Inc.'s Results
    Business
    Motley Fool

    What the Market Missed in Kinder Morgan Inc.'s Results

    Kinder Morgan (NYSE: KMI) can't seem to catch a break these days. Despite its completing what management dubbed a "momentous" quarter, shares of the natural gas pipeline giant barely budged this week. It was a head-scratching outcome considering that its financial results came in well above its guidance, which the market seems to have completely missed.

  • Caterpillar's Q3 beat expectations, shares tumble
    Finance
    Yahoo Finance

    Caterpillar's Q3 beat expectations, shares tumble

    A Caterpillar Inc. equipment is on display for sale at a retail site in San Diego, California, U.S., March 3, 2017. Global construction equipment giant Caterpillar (CAT) announced quarterly results that were a bit better than expected. Caterpillar’s construction industries business segment sales grew 16% to $5.7 billion.

  • What to Expect from Bristol-Myers Squibb’s Q3 Earnings
    Finance
    Market Realist

    What to Expect from Bristol-Myers Squibb’s Q3 Earnings

    Bristol-Myers Squibb (BMY) is expected to report its third-quarter earnings on October 25. Analysts expect Bristol-Myers Squibb’s revenues to increase 8.87% from $5.25 billion in the third quarter of 2017 to $5.72 billion in the third quarte of 2018. In the last four quarters, Bristol-Myers Squibb’s revenue growth has been 3.93%–10.89%.

  • Dow tumbles nearly 550 points at lows amid corporate outlook, China selloff
    News
    MarketWatch

    Dow tumbles nearly 550 points at lows amid corporate outlook, China selloff

    It was a punishing start for stocks Tuesday as investors reacted negatively to quarterly results from a handful of blue chips and the cessation of a two-day rebound for China’s embattled stock market, reviving fresh questions about global economic growth prospects. The Dow Jones Industrial Average (DJIA) 548.62 points at its low and remained was recently 460 points, or 1.8%, at 24,862. The S&P 500 (SPX) fell 55 points, or 2%, to 2,696, retreating below a psychological and technical mark at 2,700, while the Nasdaq Composite Index (COMP) slid gave up 177 points, or 2.4%, to 7,291.

  • Business
    Benzinga

    A Preview Of Juniper Networks Q3 Earnings

    Juniper Networks (NYSE: JNPR) releases its next round of earnings this Tuesday, Oct. 23. Here's Benzinga's essential guide to Juniper Networks' Q3 earnings report. Earnings and Revenue Juniper Networks EPS will likely be near 44 cents while revenue will

  • 4 Things Aurora Cannabis Did Right Before Its NYSE Debut
    Business
    Motley Fool

    4 Things Aurora Cannabis Did Right Before Its NYSE Debut

    Aurora Cannabis (NASDAQOTH: ACBFF) (TSX: ACB) has sought to make it even easier for U.S. investors to buy its shares by arranging to have its shares listed on the New York Stock Exchange. Beginning tomorrow, Oct. 23, Aurora will join the elite group of cannabis companies whose shares trade on major U.S. exchanges. Getting ready for the increased exposure that a NYSE listing brings takes time and effort, and Aurora Cannabis hasn't wasted any time.