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MARKETS: YF Premium Investment Idea: Hostess Brands (TWNK)

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Yahoo Finance's Jared Blikre breaks down some of the features of the Yahoo Finance Premium package.

Video Transcript

ADAM SHAPIRO: We're watching a pretty ugly selloff on Wall Street. The Dow is off more than 4%. Jared Blikre is watching this with us as well. What is going on, Jared?

JARED BLIKRE: That's right, Adam. We're seeing a continuation of a move that actually began Tuesday, but is being accelerated by Jay Powell's comments yesterday, and also the threat of a second wave of coronavirus here in the US. Just looking at the NASDAQ 100 heat map, sea of red here.

Big cap techs are outperforming, but still down. And if we sort by performance, we can see some of the damage here. Travel stocks just getting obliterated, with United and Marriott down 12% and 8% respectively.

Just taking a quick look at the S&P 500, this is a two-month chart. We have a rare island reversal pattern in place. And that's where we have gaps both to the upside and the downside. Interesting formation, but probably heading towards that 2,500 to 3,000 level where we have the 200-day moving average.

I want to pivot now to our Yahoo Finance Premium Investment Idea of the Day. And this is Hostess Brands. And we're going to look at a year-to-date chart. This is based on technical patterns identified by trading central.

They're looking for a price target of $8.9 to $9.50. That would be right around these lows right here. Potential win here is 25% to the downside.

If you're looking for a stop, probably want to place it above the 200-day moving average at about $13. That would be up here. It lowers the risk-reward a little bit, but overall, not a bad entry.

So you can get a free trial of Yahoo Finance Premium on our website, YahooFinance.com. And sign up for a free 14-day trial. Adam?