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5 Top Stock Trades for Thursday: NVDA, MTCH, NVTA

Bret Kenwell

After dropping notably in the morning, stocks reversed and closed higher on the day. It leaves investors wondering what’s next for the market. In the meantime, here are a few top stock trades. 

Top Stock Trades for Tomorrow #1: Nvidia

top stock trades for NVDA

Nvidia (NASDAQ:NVDA) stock held the $172.50 level for four consecutive sessions. It was an impressive couple of days as bulls refused to break. On Wednesday, shares caught a boost after Goldman Sachs analysts took their price target from $179 to $192. 

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As shares reclaim the 20-day moving average, traders are shifting their outlook higher in the short term. Look to see if the stock can get back to $185, recent resistance earlier this month. Above it puts the high at $188.40 on the table, which comes into play near the 61.8% retracement. 

On the downside, watch $172.50. Below could send shares to the 50-day and possibly the 200-day moving average. 

Top Stock Trades for Tomorrow #2: Match Group

top stock trades for MTCH

Match Group (NASDAQ:MTCH) took a hit on Wednesday, as cracks start to show up on the chart. 

For now, shares are holding onto the 61.8% retracement. Below it will put Wednesday’s lows on the table. The $65 level has been decent support, while the 200-day moving average is near $64 and the 50% retracement is near $63.

On a rebound, see if MTCH stock can get back to $80. 

Top Stock Trades for Tomorrow #3: Invitae

top stock trades for NVTA

I love Invitae (NASDAQ:NVTA) for the long term, but it would be foolish to ignore the charts. 

Invitae is taking out this month’s low and falling below the 200-day moving average.

Should shares continue lower, look for the 50% retracement just below $19. If it fails as support, look for a potential test of the May lows, with support in the low-$17s. At that point though, bulls may as well just ask for a January gap-fill and test of the 38.2% near $16.50. 

On the upside, NVTA needs too reclaim the 200-day moving average, as well as the $22 level, which is acting as short-term resistance. 


Top Stock Trades for Tomorrow #4: Cintas

top stock trades for CTAS

Cintas (NASDAQ:CTAS) has seen a widening range (blue lines) since popping higher in July. On Wednesday, shares jumped on better-than-expected earnings results. 

Thanks to its rally, CTAS is reclaiming the 50-day moving average and is approaching resistance at $270. Over $270 puts the 52-week high of $270.36 on the table, as well as a possible run to $276, which is recent trend resistance. 

Top Stock Trades for Tomorrow #5: ServiceNow

top stock trades for NOW

ServiceNow (NASDAQ:NOW) has been frustrating investors lately, but pleasing traders as it bounces between $250 range support and $270 range resistance. 

The setup is simple: traders can go long near $250 support and sell near $270 resistance. 

If shares break down below support, see if the 200-day supports it, along with the 61.8% retracement near $243.75. Over $270 — which is also roughly the 78.6% retracement — and a move toward $290 may be under way. 

Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long NVTA and NVDA. 

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