chart: top stock trades for SQ


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

Stocks got off to a hot start on Monday and didn’t slow down much throughout the session. With that in mind, let’s look at a few top stock trades for the rest of the week. 

Top Stock Trades for Tomorrow No. 1: Square (SQ)




chart: top stock trades for SQ


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top stock trades for SQ

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Look at how well Square (NYSE:SQ) stock traded from April through August. The 10-day moving average continued to guide the stock higher, as did uptrend support (blue line).

Shares faltered in early September, breaking below these trend marks. It’s worth noting that eventually this type of price action is bound to happen. A stock cannot rally forever.

Thankfully, the 50-day moving average stepped in as strong support, propping Square stock up until it was able to reclaim the 10-day moving average. On Monday, the stock was able to break out over its prior highs and the 261.8% extension.

If we are going back to a trending market, look for dips down to the 10-day moving average to be bought and for SQ stock to push higher. Specifically, let’s see if it can rally to the three-times range extension near $197 and tag $200.

Top Stock Trades for Tomorrow No. 2: Regeneron (REGN)




chart: top stock trades for REGN


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top stock trades for REGN

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Source: Chart courtesy of StockCharts.com

Regeneron (NASDAQ:REGN) shares ripped higher on Monday, ending the day up more than 7%. The rally was enough to send the stock over a few key levels.

Specifically, Regeneron stock was able to reclaim the key $575 level, downtrend resistance (blue line) and the 10-day and 50-day moving averages. What a move — but now it needs to hold.

If



chart: top stock trades for NIO


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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


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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

The logo of Germany’s Federal Financial Supervisory Authority BaFin (Bundesanstalt fuer Finanzdienstleistungsaufsicht) is pictured outside of an office building of the BaFin in Bonn, Germany, April 15, 2019. REUTERS/Wolfgang Rattay

BERLIN (Reuters) – Germany’s financial watchdog BaFin is banning its staff from trading shares and other securities of the companies that it oversees in the wake of the Wirecard WDIG.DE accounting scandal, a senior finance ministry official told Reuters.

German regulatory officials bought and sold Wirecard shares in ever higher volumes as the payments company edged towards collapse, the German government has revealed, prompting criticism of the agency that polices finance.

Deputy finance minister Joerg Kukies said the aim was to restrict the trading activities of BaFin employees so that they can make decisions free of conflicts of interest.

“This is a good and necessary step,” Kukies said.

The finance ministry had disclosed that one fifth of BaFin staff had engaged in some kind of investment activity in 2019 and 2020, with an increasing interest in Wirecard in the months ahead of its collapse.

The ban affects not only shares, but also bonds and derivatives of the companies BaFin supervises, as well as all EU financial companies.

BaFin is overseen by the finance ministry.

Reporting by Christian Kraemer; Writing by Tom Sims; Editing by Angus MacSwan

Source Article

As you can see in the following chart, the ProShares Ultra VIX Short-Term Futures ETF (UVXY) has continued downwards during the month with shares erasing most of the gains seen earlier this summer.

At present, I have two different views on UVXY. In the short term, I believe that we’re likely going to see some upside in the instrument in line with seasonal tendencies in the VIX. In the long term, however, I believe that we are almost certainly going to see UVXY head lower.

VIX Markets

To kick this piece off, let’s take a broad thematic look at the current VIX levels.

The VIX is sitting around 27 at the time of writing. Over the past month, we have seen a fair degree of volatility in the VIX with the index hitting as high as 38 early September after touching numbers in the low 20s a few days prior.

Historically speaking, the current VIX level is actually suggestive of short-term declines going forward.

As you can see in the above chart, when the VIX is around the same level that it’s sitting at today, the odds of it rising over the next month are only about 27%. In other words, over the last 27 years, the VIX fell 73% of all times that it was sitting at levels similar to what we’re seeing today.

An important thing to note about this study is that it is very broad – that is, it takes the simple level of the VIX and uses it predictively. In my opinion, this type of study works most of the time (as clearly seen in the statistics); however, it must be framed up by current developments in the markets. Let’s take a short-term look at the S&P 500 to try and gauge where it may



chart, histogram: Beyond Meat Surges BYND


© Source: Chart courtesy of StockCharts.com
Beyond Meat Surges BYND

After a monstrous day on Monday, stocks took a breather on Tuesday, spending most of the day near flat. That doesn’t mean some of our top stock trades weren’t putting together big moves though. With all of that in mind, let’s have a look.

Top Stock Trades for Tomorrow No. 1: Beyond Meat (BYND)




chart, line chart: Beyond Meat Surges BYND


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Beyond Meat Surges BYND

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Beyond Meat (NASDAQ:BYND) was in focus today, rallying more than 10% until it ran into resistance.

That resistance came in the form of the 138.2% extension and the June highs between $160 and $165. This area stymied Beyond Meat’s summer rally, as shares ultimately faded lower.

On the plus side, it allowed the stock to carve out a notable low around $120.

Let’s see if we can get a close above the 138.2% extension with this one. If so, it could trigger an eventual move up toward the 161.8% extension near $190. Until the trend becomes invalidated, bulls can look to buy the dip into the 10-day moving average and uptrend support (blue line).

Top Stock Trades for Tomorrow No. 2: Shopify (SHOP)




chart: Beyond Meat Surges SHOP


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Beyond Meat Surges SHOP

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Source: Chart courtesy of StockCharts.com

After an enormous rally from the March lows, Shopify (NYSE:SHOP) has done well this summer. However, it has struggled to push through the $1,100 area.

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Its failure to break through ultimately led to a pullback. Eventually shares were able to reverse off $850 on Sept. 17. I think it’s important to highlight the fact that when the Nasdaq Composite made new lows on the 21st and 24th, Shopify did not.

Now reclaiming the 50-day moving average on Tuesday, let’s see