27.23 +0.02 (0.07%)
After hours: 4:21PM EDT
|Bid||27.22 x 800|
|Ask||27.22 x 34100|
|Day's Range||26.88 - 27.35|
|52 Week Range||22.66 - 31.91|
|Beta (3Y Monthly)||1.49|
|PE Ratio (TTM)||10.43|
|Earnings Date||Apr 16, 2019|
|Forward Dividend & Yield||0.60 (2.22%)|
|1y Target Est||33.33|
The Zacks Analyst Blog Highlights: Bank of America, Citigroup, Wells Fargo, Regional Financial and Citizens Financial
[Editor's note: This story was previously published in February 2019. It has since been updated and republished.] Not all American stocks trade on the major exchanges. In fact, many investors often forget the stocks that trade on the Over the Counter Bulletin Board (OTCBB). Some refer to these OTC stocks to buy as equities that trade on the "pink sheets," named for the color of the paper on which they were printed before electronic trading became more widespread.Instead of using exchanges, such trades occur over computer networks.InvestorPlace - Stock Market News, Stock Advice & Trading TipsStocks end up on the pink sheets either because they either don't meet or have not attempted to meet the listing requirements of the New York Stock Exchange or the Nasdaq. Often OTC stocks have become penny stocks involuntarily. They often fail to meet listing requirements due to financial strains. * 7 Marijuana Stocks to Play the CBD Trend However, one should not assume all OTC stocks trade as penny stocks near bankruptcy. In fact, some OTC stocks have become some of the largest and most successful companies in the world. This sometimes occurs with foreign companies that trade on the major exchanges in their home countries.Despite their prestige at home, these companies may turn to OTC markets to test the U.S. market. If their stock becomes one of the OTC stocks to buy, they will subsequently switch to the NYSE or Nasdaq at a later time. Others may not want to meet the financial disclosure standards required by the exchanges.Whatever the reason, traders should not ignore the OTC markets. In fact, investors looking for OTC stocks to buy may want to consider these five:Source: Shutterstock BAE Systems (BAESY)BAE (OTCMKTS:BAESY) operates in the defense, security and aerospace industries. Based in Farnborough, England, BAE has grown into the U.K.'s largest defense contractor. Despite its presence in its home country, 75% of its revenue comes from outside of the U.K.Revenue and earnings have seen slower growth over the last few years. However, the Trump Administration's attitude toward European defense may force these governments to shoulder more of the defense burden. Furthermore, threats from the Middle East and fears of Russia continue to worsen.Such concerns play into the hands of defense contractors such as BAE. The stock has traded in a range since 2015. A focus on defense within Europe could send it higher. Net income also appears set to move higher. If profit predictions hold up, the forward P/E will hold at about the 15 level. This stands well below the 31.5 average P/E over the last five years.Moreover, even though the stock shows little movement, the dividend helps it become an ideal OTC stock to buy. The dividend saw an increase this year. Shareholders now earn a dividend yield at around 4.5%. Even if the stock takes longer than anticipated to move higher, BAESY stock pays investors well to wait.Still, with the current geopolitical environment, BAE investors will likely not have to wait for very long.Source: Shutterstock Sberbank of Russia (SBRCY)Admittedly, Sberbank (OTCMKTS:SBRCY) might seem too risky to become one of the better OTC stocks to buy. With the focus on Russian collusion and a relationship between Trump and Putin that has become too comfortable for many, the thought of investing in Russia seems scary.However, some see opportunity amid the fear. American investors such as Jim Rogers have recently sought investment opportunities in Russia. Mr. Rogers cites a strong ruble, a market well off all-time highs and high real interest rates as the reason. SBRCY stock could position an investor for these returns.Sberbank has become the largest bank in Russia. It holds more in assets than the next six largest competitors combined. Sberbank performs retail, corporate and investment banking within Russia. It also invests heavily in Central and Eastern Europe. * 7 Beaten-Up Stocks to Buy as They Reverse Course At a $70 billion market cap, it pales in size to U.S. banking giants such as Citigroup (NYSE:C) or Bank of America (NYSE:BAC). It also seems to struggle with gaining respect, though this could work to an investor's advantage. SBRCY stock trades at a P/E of only five or so, well below that of BAC stock. This is despite the fact that revenues have increased by an average of 18.9%-per-year over the last five years.Moreover, dividends have seen sustained growth over the last three years. Today, SBRCY stock pays a dividend of about 4.65%. In today's market, anything related to Russia has become clouded in controversy. However, those that can look past the drama could find a bargain in SBRCY stock.Source: Shutterstock Softbank (SFTBY)Even though it could become one of the more profitable OTC stocks to buy, Softbank (OTCMKTS:SFTBY) has not become a household name. However, this Japanese holding conglomerate has grown to a little more than a $107 billion market cap by investing in some of the better-known names in the tech industry in both the U.S. and Japan.Softbank lists Yahoo! Japan, Uber and WeWork among its investments. Still, its most famous investments are its 28% stake in Alibaba (NYSE:BABA) and its ownership of about 83% of Sprint (NYSE:S). In fact, one attempt to merge Sprint with T-Mobile (NASDAQ:TMUS) failed because it would have required Softbank to sell too many of its assets.Investors should look at SFTBY stock like a mutual fund. If the T-Mobile-Sprint merger goes through, this will give Softbank a significant stake in America's fastest-growing telecom company as 5G begins to take off. Whenever the IPO in Uber finally happens, this should boost Softbank further.SFTBY stock also reported a 49% increase in earnings in its latest quarter. Investments in WeWork and Indian ecommerce firm Flipkart drove much of the net income increase. As a result, SFTBY stock trades less than 10% off its all-time high.With its profitable investments and its prospects for the future, SFTBY should continue to report strong results for many quarters to come.Source: Shutterstock Tencent (TCEHY)Tencent (OTCMKTS:TCEHY) has become the largest OTC stock trading today. With a $423 billion market cap, the Shenzhen and Cayman Islands-based conglomerate has grown into one of the world's largest companies.Tencent serves the Chinese market in the internet, social networking, gaming, payment systems, ecommerce, venture capital and many other areas. The company competes with the likes of Alibaba and JD.com (NASDAQ:JD) at home.Overseas, Tencent's influence is also felt in the U.S. as it competes with Activision (NASDAQ:ATVI) and other gaming companies for market share in the emerging esports field. This only scratches the surface of Tencent's influence. * 10 Stocks on the Rise Heading Into the Second Quarter Due to its reach and growth, Tencent's size impact has become too large to ignore. Even with the growth, the forward P/E stands at about 31. While its P/E stands well above S&P 500's average, it has reached a tiny fraction of the P/E where Amazon (NASDAQ:AMZN) trades.To me, 20% less percentage growth to buy in at one-sixth of the P/E sounds like a worthwhile trade-off. Given the lower P/E relative to earnings growth and its position in the emerging Chinese market, TCEHY should serve as one of the best OTC stocks to buy despite its size.As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. You can follow him on Twitter at @HealyWriting.Compare Brokers The post 4 of the Best OTC Stocks to Buy for Future Growth appeared first on InvestorPlace.
Ally Financial (NYSE:ALLY) is cheap. Ally Financial trades at 0.82x book value, suggesting a discount to its net asset base. A 7.2x multiple to 2019 consensus EPS estimates makes ALLY stock cheap on an earnings basis as well.Source: Ally Financial And it's not as if Ally Financial is a declining business on either metric. Adjusted tangible book value per share, according to the company's Q4 earnings release, rose from $28.10 to $29.90 in 2018. Adjusted EPS soared 40% last year as well. Obviously, U.S. tax reform helped profit growth, but even that aside, ALLY earnings are growing nicely.The combination of a growing business and multiples that suggest declines going forward would seem to make ALLY a stock a buy - and maybe a screaming buy. But, as is often the case with 'cheap' stocks, there's a catch. Many stocks in the financial sector have similar profiles (if not quite to the same extent). And most of those plays don't have the same key risk that Ally Financial stock does.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Marijuana Stocks to Play the CBD Trend The Case for Ally Financial StockThe fundamental case for ALLY is reasonably easy to make. First, ALLY is cheap. The stock trades at a discount to adjusted tangible book value (the sum of its assets less its liabilities).Minor adjustments are made for intangible assets and OIDs (original issue discounts) which reflect the discount to par at which Ally issues bonds. A 1x multiple just to tangible book would suggest 16% upside for Ally Financial stock.Similarly, earnings multiples suggest room for upside as well. Even an 8x multiple to earnings moves ALLY up over 10% - plus a 2.6% dividend. However an investor views Ally Financial, the fundamental case seems reasonably strong. The U.S. Financial SectorAll that said, it's worth pointing out that the valuation assigned Ally Financial stock isn't that out of line in the financial sector. Bank of America (NYSE:BAC) and JPMorgan Chase (NYSE:JPM), my two favorite bank stocks, trade at less than 10x forward earnings. BAC stock trades at just 1.14x book value (JPM admittedly is higher on that metric, at about 1.5x.)ALLY is cheaper than those big banks, admittedly. But other lenders have similar profiles. Synchrony Financial (NYSE:SYF) and Capital One Financial (NYSE:COF), too, trade at about 7x earnings. COF actually is a cheaper on a price-to-book value, at 0.75x.Peer valuations don't necessarily negate the bull case for ALLY. There's still potential upside from current multiples in terms of both assets and profits. But it's worth remembering that in year ten of a U.S. economic expansion, financials on the whole are not going to get market-level multiples.ALLY is highly unlikely to trade at 1.5x book or 15x earnings any time soon. And there's a key risk that, at least for some investors, might suggest the current discount even to other "cheap" financials should persist. The Automotive ExposureThere are two reasons that the big worry for ALLY is its heavy automotive exposure. First, Ally could see earnings fall sharply if and when the economy turns and consumers start missing car payments. This is, after all, the former financing arm of General Motors (NYSE:GM), a company that went bankrupt during the financial crisis.The obvious worry is that Ally Financial will struggle more in a recession than a more diversified provider like BofA. That worry (again, in year ten of an economic expansion) is why lenders like ALLY, COF, and SYF are cheaper than most traditional banks.But there's another issue here too. Even without a recession, the concern is that demand is going to slow simply because automotive demand is going to slow. There's a reason stocks like GM and Ford Motor Company (NYSE:F) trade at similarly cheap multiples. That reason is the fear of "peak auto."In that context, ALLY earnings could decline even without macro jitters or consumer weakness. Ally simply is likely to write less auto loans going forward, as cars last longer and urban populations lower demand. Ally has other businesses, but automotive finance drove 83% of pre-tax income in 2018. There's an enormous reliance on what should be a declining automotive financing industry. ALLY Stock Is Cheap for Good ReasonNone of this is to say that ALLY is a short. But there are reasons why the stock is cheap. Financials on the whole are being discounted owing to cyclical fears (one reason the sector pulled back so sharply in December).And a look at auto stocks shows why investors are cautious toward Ally's heavy exposure to that industry.In that context, it's tough to get too excited about ALLY stock. That's particularly true with other financials pulling back yet again on Fed moves this week. Ally Financial stock very well might go up. But if it does, better plays like BAC, JPM - and maybe even F and GM - will do the same.As of this writing, Vince Martin has no positions in any securities mentioned. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Dual-Class Stocks That Will Outperform * 7 Reasons Why Apple Streaming Won't Move the Needle for Apple Stock * 7 A-Rated Stocks to Buy in the Second Quarter Compare Brokers The post There Are Way Better (And Cheaper) Financial Plays Than Ally Stock appeared first on InvestorPlace.
In case of a no-deal Brexit, JPMorgan (JPM) plans to shift nearly 300 employees from the London office to ensure business continuity.
In the latest trading session, Bank of America (BAC) closed at $26.84, marking a -0.63% move from the previous day.
Banks — including those holding top market share in Charlotte — are feeling the brunt of recent market volatility.
Reputable billionaire investors such as Jim Simons, Cliff Asness and David Tepper generate exorbitant profits for their wealthy accredited investors (a minimum of $1 million in investable assets would be required to invest in a hedge fund and most successful hedge funds won't accept your savings unless you commit at least $5 million) by pinpointing […]
Bank stocks are down 18% to 21% from their 2018 highs, according to two key gauges, a potentially worrisome development for the markets and economy.
Last week's plunge in bond yields is fanning the flames of recession fears once more. Bulls are cowering in their hidey-holes and bears are finally starting to feast -- really for the first time this year. And that gives us an attractive backdrop to begin seeking out weak stocks to trade.Finding stocks to sell has been a challenging endeavor in 2019. Ever since the early-January transformation of the Federal Reserve from hawk to dove, it's been game on for risk assets. But last week's yield curve inversion has investors spooked. * 3 Things to Watch for Cronos Group Stock Ahead of Earnings My weekend scanning found numerous bearish looking charts that are worthy of mention. Today I'll mention the top three stocks to trade. They remain vulnerable to further downside as long as recessions and inverted yield curves dominate the market narrative.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Click to Enlarge Source: ThinkorSwim FedEx (FDX)The bear case for FedEx (NYSE:FDX) shares is compelling on both a technical and fundamental front. To fully feature the depravity of its downturn, I'm featuring a weekly chart. Since topping in early-2018, the transportation titan has cratered 37% and now rests below all major moving averages.The January-February rebound created a classic bear retracement pattern that already triggered to the downside.On the fundamental front, earnings are deteriorating, and during last week's quarterly report the company cited slowing global growth as one of its key concerns moving forward.To bank on continued weakness, buy the May $175/$165 bear put spread for around $3.70. Click to Enlarge Source: ThinkorSwim Caterpillar (CAT)The price action in Caterpillar (NYSE:CAT) has echoed the bearish steps of FedEx. CAT stock was demolished in the fourth quarter amid economic slowdown fears, and it has yet to find its footing. Indeed, the daily chart is a volatile mess -- making it one of the top stocks to trade right now.January's large earnings miss and subsequent down-gap in the stock is keeping the sluggish global economy talk in the forefront. With Friday's high volume drop taking CAT back below its 50-day moving average, a new down-leg is upon us. * 7 Marijuana Stocks to Play the CBD Trend The recent uptick in implied volatility is breathing new life into option premiums. So let's create a cash flow play. Sell the April $138/$142 bear call spread for 55 cents. If CAT sits below $138 at expiration, you will capture the max gain of 55 cents. Click to Enlarge Source: ThinkorSwim Bank of America (BAC)For our stock to trade, we're turning to the banking sector. Banks are particularly vulnerable during times when the yield curve inverts due to the pressure it puts on their profitability. Remember, short-term interest rates signify what banks pay depositors and thus represents an expense. Long-term rates represent what they charge when lending and thus represent income.During periods of yield-curve inversion, their income potential drops while expenses stay the same or rise. That's a toxic brew for any company. Tack on the inverted yield curves' impeccable track record for predicting recessions and it's no wonder why banks bit the dust on Friday.Bank of America (NYSE:BAC) upended its recovery efforts by shattering support last week. It's oversold, yes, but there remains little reason to be bullish here.Bet on more pain by purchasing the June $27 puts for around $1.45.As of this writing, Tyler Craig held bearish positions on FDX. Check out his recently released Bear Market Survival Guide to learn how to defend your portfolio against market volatility. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Dual-Class Stocks That Will Outperform * 7 Reasons Why Apple Streaming Won't Move the Needle for Apple Stock * 7 A-Rated Stocks to Buy in the Second Quarter Compare Brokers The post 3 Stocks to Trade as Fears of a Recession Return appeared first on InvestorPlace.
Bank stocks perform dismally as a number of issues including an inverted yield curve on increasing fears of economic slowdown and the Federal Reserve's dovish monetary policy shake the markets.
- Q4 share repurchases increased 62.8% year-over-year to a record $223.0 billion - This is the fourth consecutive quarterly record -- longest streak in the 20 years SPDJI has tracked - Total 2018 buybacks ...
Editor's Note: This article is part of InvestorPlace.com's Best ETFs for 2019 contest. Dana Blankenhorn's pick is Financial Select Sector SPDR Fund (NYSEARCA:XLF).At the start of the year I picked the Financial Sector Spider ETF (NYSEARCA:XLF) as the best exchange-traded fund for investors to buy in 2019.So far, I'm not looking very bright.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe ETF, which owns big banks and insurers like Berkshire Hathaway (NYSE:BRK.A), JPMorgan Chase (NYSE:JPM) and Bank of America (NYSE:BAC), is up just 6.9% for the year, against an 11.7% gain for the S&P 500. Since March 18 XLF has lost half that gain, as financial reporters have reported breathlessly about a "yield curve inversion" predicting recession. While I thought the big banks would lead the market higher, with rising interest rates increasing the "yield spreads" that banks get between the price they pay for money and what they can charge for it, the XLF may be leading the market lower. Why the Pain for the XLF ETF?Usually, the interest rate on short-term bonds like 30-day paper will fall below the price of long-term bonds like the 10-year note because investors are seeking a safe place for money to hide from the gathering storm. * 7 Marijuana Stocks to Play the CBD Trend On March 25, the yield on a three-month note is 2.49%, and on the 10-year, it's 2.44%. The lowest rates are being paid on bonds that run three to five years, 2.24%. If you plot these rates on a graph against time, the line goes down. That's an inverted yield curve.It's hard for a bank to make money on an inverted yield curve. It's hard for banks to make money on any loans when rates are below 3%. So bank stocks are under pressure and thus the XLF is falling.To some people it makes no sense. Unemployment is low, so there should be wage pressures. Government debt is topping $1 trillion per year, which should be raising rates.What are analysts missing? Whip Deflation NowWhat they're missing is deflation, downward pressure on prices created by technology and abundance.Part of the answer is in your hand. Vala Ashfar of Salesforce.Com (NASDAQ:CRM) estimates a smart phone contains what were 60 different devices 10 years ago, everything from cameras and TVs to bank cards, alarm clocks and your PC.Hyperscale data centers, or clouds, seem like huge energy hogs, but many recycle the heat they generate. PCs that once had to be plugged in the wall now run all day on batteries. Total electricity demand has been flat all decade. So has demand for gasoline.At the same time, technology is increasing oil and gas supplies -- not just thanks to more-efficient fracking but better ways to find new fields. Solar and wind energy now cost less than coal.Then there's labor. Emigration peaks when skilled people can reach the global market for their skills. Philadelphia's not sending Joel Embiid back to Cameroon. Major League Soccer can make big money training South Americans to play in Europe. What's true for athletes is also true for scientists, engineers and even bankers. The Bottom LineThe weight of deflation on the global economy is increasing, not decreasing. This directly impacts banking as fintech replaces traditional banking functions. Technology is lowering the cost of processing transactions and of evaluating and servicing loans and insurance policies. Fintech companies are bidding to replace banks entirely.Big banks are still where the money is, and moving money around is still profitable. But financial intermediaries of all types can be replaced by technology. This, along with other forms of deflation, will continue to put the squeeze on bank, and insurance profits.But that's not entirely a bad thing for the economy. Who hates productivity?Dana Blankenhorn is a financial and technology journalist. He is the author of a new mystery thriller, The Reluctant Detective Finds Her Family, available now at the Amazon Kindle store. Write him at email@example.com or follow him on Twitter at @danablankenhorn. As of this writing he owned shares in JPM. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Dual-Class Stocks That Will Outperform * 7 Reasons Why Apple Streaming Won't Move the Needle for Apple Stock * 7 A-Rated Stocks to Buy in the Second Quarter Compare Brokers The post Best ETFs for 2019: Deflation Holds Down Interest Rates, The XLF Slows appeared first on InvestorPlace.
U.S. stock futures are edging lower this morning as equities try to find their footing following Friday's bloodbath. Last week's plunge in long-term bond yields stoked economic slowdown fears. Small-caps, banks and transportation stocks led the decline.Against this backdrop, futures on the Dow Jones Industrial Average are down 0.13% and S&P 500 futures are lower by 0.13%. Nasdaq-100 futures have shed 0.23%.In the options pits, puts scored a rare victory on the popularity front by outpacing calls on the session. The win came even as overall volume levels surged to well above average levels. Specifically, about 23.18 million calls and 23.21 million puts changed hands on the session.InvestorPlace - Stock Market News, Stock Advice & Trading TipsNaturally, the fear fest sparked a jump in put option trading at the CBOE as well. The single-session equity put/call volume ratio surged to 0.68 -- a three-week high. Meanwhile, the 10-day moving average held its ground near its 2019 low at 0.58.Options traders zeroed in on bank and technology stocks on Friday. Bank of America (NYSE:BAC) plunged after breaking a critical support zone. Citigroup (NYSE: C) dropped 4.6% but was saved from a support breach by the closing bell. Finally, Apple (NASDAQ:AAPL) fell amid widespread profit-taking in the technology sector.Let's take a closer look: Bank of America (BAC)Bank of America was one of the hardest hit companies during Friday's beatdown in the banking industry. The inverted yield curve that has the punditry class all aflutter is to blame for two reasons. First, it hampers banks' profitability by shrinking net interest margins. And second, it warns of a recession on the horizon. * 7 Marijuana Stocks to Play the CBD Trend BAC stock dropped 4.2% and cracked below pivotal short-term support at $28. With its price now submerged beneath all major moving averages, the path of least resistance is officially lower. That means rallies are destined to die and gravity reigns supreme.On the options trading front, calls won the day despite the schoolyard beatdown. Activity swelled to 276% of the average daily volume, with 597,084 total contracts traded. 67% of the tally came from calls.With stock volatility on the rise, option prices expanded, driving implied volatility to 30%. That places it at the 41st percentile of its one-year range. Premiums are now pricing in daily moves of 50 cents, or 1.9%. Citigroup (C)The dismal performance in Citigroup matched Bank of America in dreadfulness with one key difference. While BAC breached significant support, C stock stopped just shy of the cliff. But shareholders shouldn't breathe a sigh of relief just yet. One more well-placed banana peel and Citigroup is likely to join its peer.At best, C stock is likely to remain stuck in its two-month trading range. Buyers should steer clear until it can clear the 200-day moving average near $66. Alternatively, short sellers seeking a trade might consider entering on a break below Friday's low.Drilling down to the options trading details reveals the following. Calls proved more popular than puts despite the day's thrashing. Activity ballooned to 338% of the average daily volume, with 190,571 total contracts traded. 67% of the total fell on the call side of the ledger.Implied volatility ramped to 31%, placing it at the 36th percentile of its one-year range. Premiums are baking in daily moves of $1.19, or 2%. Apple (AAPL)Apple entered Friday having rallied for nine of the last 10 trading sessions. So let's all agree that the bout of profit-taking was well-deserved and needed to re-establish lower risk entries for spectators. Though the volume came in above average, it was still lower than the participation that accompanied Thursday's strong breakout candle.With AAPL stock still well above its rising 20-day and 50-day moving averages, I see little reason to view this as anything other than a garden-variety pullback that will ultimately prove a buying opportunity.The action in AAPL options mirrored that of today's other two mentions. Calls reigned supreme, and activity jumped to 251% of the average daily volume, with 1,149,744 total contracts traded. Calls accounted for 66% of the total.Implied volatility also bumped up to 27%, placing it at the 36th percentile of its one-year range. Premiums are now pricing in daily moves of $3.24, or 1.7%.As of this writing, Tyler Craig didn't hold a position in any of the aforementioned securities. Check out his recently released Bear Market Survival Guide to learn how to defend your portfolio against market volatility. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Dual-Class Stocks That Will Outperform * 7 Reasons Why Apple Streaming Won't Move the Needle for Apple Stock * 7 A-Rated Stocks to Buy in the Second Quarter Compare Brokers The post Monday's Vital Data: Bank of America, Citigroup and Apple appeared first on InvestorPlace.
Fifth Third's (FITB) efforts to further improve its digital capabilities by adding new employees will go a long way in supporting its financials.
A day after a big rally, stocks were under significant pressure on Friday. This is as Treasury yields threaten to invert and drag banks lower. It also ignites recession fears among investors. Let's look at a few top stock trades to watching going into next week. Top Stock Trades for Tomorrow 1: Bank of AmericaBank stocks are under extreme pressure on Friday. Looking at Bank of America (NYSE:BAC), shares were down 5% at one point during the day. Now off less than 4%, bulls are stepping up to the plate a bit.InvestorPlace - Stock Market News, Stock Advice & Trading TipsStill, this one was breaking out to the upside just the other day. Now we're seeing range support give way. $28 was the floor in this name and now just a few pennies above $27, support has officially gave way.Unless you're a long-term investor, I would avoid BAC stock. At the very least, I'd give it a few days to see how it shakes out. I want to see if $28 will act as resistance or if BAC will fill the gap down to $26.50. It almost filled that gap on Friday, but didn't quite get there.If the gap doesn't hold as support, look for the backside of prior downtrend support to buoy BAC. Top Stock Trades for Tomorrow 2: TiffanyTiffany & Co (NYSE:TIF) shares were jumping on Friday, climbing 3% on a tough day in the markets thanks to better-than-expected earnings. Is it rallying right into resistance though?The stock has been trending higher in a channel for several months and is now breaking out. But the $105 level could be tough to penetrate. For starters, this level was support turned resistance last fall, while potential downtrend resistance is near the area as well. Finally, the 50% retracement for the 52-week range sits just under $106.That said, if TIF can push through this mark, it could trigger a large breakout. If so, see how it handles the 200-day. On a pullback, see if the prior channel resistance holds as support. Top Stock Trades for Tomorrow 3: Papa John'sPapa John's (NASDAQ:PZZA) has added Shaquille O'Neal to its board and as a brand ambassador. This sent the stock higher by almost 6% on Friday. The move propelled PZZA over the 50-week moving average, while the momentum-measuring MACD (green circle) turns more in the bulls' favor.If momentum keeps up, see if PZZA can climb to $55. On a pullback, I want to see the 50-week and 10-week moving averages hold as support. Top Stock Trades for Tomorrow 4: Canopy GrowthOne could make the argument that Canopy Growth (NYSE:CGC) is still consolidating tightly between support and resistance. Loosely speaking, it is. But with Friday's decline below the 20-day and 50-day moving averages and CGC is losing steam.This group -- and this name specifically -- can be volatile. So I'm not saying that it won't snap back on Monday and even breakout higher at some point next week. But at this rate, the name is simply lacking any follow through, meeting sellers each time it nears $48.Even though we've been watching this one for weeks, it may be time for bullish traders to move on after Friday's fall. The close below the 50-day is certainly a negative. Top Stock Trades for Tomorrow 5: NikeDespite beating on earnings and revenue estimates, Nike (NYSE:NKE) stock is falling almost 6% on Friday as guidance disappoints.If the stock doesn't reclaim the 50-day early next week, Nike may have lower to go. If it does reclaim this mark, look for $83 and the 50-day to support the stock. Otherwise, let's see if we can't nab NKE stock on a decline down to the 200-day. That would be a great dip-buying opportunity.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell did not hold a position in any of the aforementioned securities.Compare Brokers The post 5 Top Stock Trades for Monday: CGC, TIF, NKE, PZZA appeared first on InvestorPlace.
Investing.com - Stocks on Wall Street fell sharply Friday as part of the yield curve inverted, underscoring concerns about a possible recession amid slowing global growth.