chart: top stock trades for NIO


© Source: Chart courtesy of StockCharts.com
top stock trades for NIO

A poor jobs report and news that President Donald Trump has tested positive for Covid-19 weighed on the stock market on Friday. With that in mind, let’s get to some top stock trades in the meantime. 

Top Stock Trades for Monday No. 1: Nio (NIO)




chart: top stock trades for NIO


© Provided by InvestorPlace
top stock trades for NIO

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Nio (NYSE:NIO) reported solid third-quarter delivery results on Friday, but you wouldn’t know it by the stock’s reaction. Same with Tesla (NASDAQ:TSLA).

However, unlike Tesla, Nio stock isn’t wavering as much. In fact, the stock is holding up near its prior breakout level.

In late August and early September, Nio stock was rejected by the $21 level. It didn’t help that the company raised additional funds and the stock market took a solid dip (as did Tesla).

However, Nio never broke stride, as uptrend support continued to hold (blue line). This week, shares were able to breakout over $21 and hit the 161.8% extension (for the entire range).

Let’s see if the stock can continue to hold up over the 10-day moving average. If it can, it will keep bulls looking for a move over $22.59, the current all-time high. Above that could trigger a rally to the two-times range extension all the way up near $26.40.

On the downside, a break of the 10-day moving average puts uptrend support and the 50-day moving average in play.

Top Stock Trades for Monday No. 2: Bed Bath & Beyond (BBBY)




chart: top stock trades for BBBY


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top stock trades for BBBY

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Source: Chart courtesy of StockCharts.com

Earlier this week, Bed Bath & Beyond (NASDAQ:BBBY) reported a much better-than-expected earnings result. Now, shares are ramping higher on