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5 Top Stock Trades for Monday: Apple, Aurora, Adobe, Tesla, Ulta



Friday was another strong day, with stocks melting higher. It sets up an interesting dynamic with a Federal Reserve statement coming out next Wednesday. As it stands, S & P 500 continues to trade well and push through a remarkable level near 2800.

Top stock markets for Tomorrow # 1: Adobe Systems

  top stocks for ADBE

Shares on Adobe Systems (NASDAQ: ADBE ) fell after reporting on Thursday's earnings close up. While the year-round guidance was ok, the management's outlook for the next quarter came up a little short. Somehow reminds me of Salesforce (NYSE: CRM ), which had a similar report.

So what now?

Like CRM, fabrics can feel comfortable enough to look up Adobe on this result. But under $ 250 and worries will start raising. Not only are both 50-day and 200-day moving averages close to this mark, but the 61.8% Fibonacci retracement from the December declines to the October heights is also here.

If ADBE closes under $ 250, it will be in no man's land. In this way, longs can find the shares to have an attractive risk / reward. If Adobe can return above the 20-day average, look for it to fill the gap up to $ 265.

Tomorrow # 2 Top Shares: Apple

  AAPL Stock Markets

Speaking of Hole, Apple (NASDAQ: AAPL ) filled its gap from back in November today. It came after the stock sharply stormed through the $ 185 level and is now threatening to run to 200-day moving averages.

The column filling was our goal in Apple earlier this week, while a move to 200-day is our second goal. There is a good reason to track down stops and consider locking in some profits. Apple shares are overbought according to the RSI and no one has ever been broken by locking in the winnings.

Top stock markets for morning # 3: Aurora Cannabis

  top stocks for ACB

After a monster move on Wednesday, Aurora Cannabis ( NYSE: ACB ) had an inside day on Thursday and set up for the possibility of a rally on Friday. It is that we flag on Friday morning before the move.

There was plenty of time to get into this under $ 9 and those who didn't want to take a pass at this time. $ 10 is not an unrealistic target at this time, even though it is only 41 cents lower than current prices.

Longs should track down stops and keep other cannabis containers in mind. For example, while Canopy Growth (NYSE: CGC ) put together a super-tight spiral pattern, investors from both CGC and ACB must remember that Tilray (NASDAQ: [19659006] TLRY ) will report earnings on Monday.

Top stock markets for morning # 4: Ulta Beauty

  top stocks for ULTA ]

Ulta Beauty (NYSE: ULTA ]) put together a strong after-service start on Friday, up 9% after beating top and bottom lines. The rally is amazing, especially considering the modest rally we saw this morning.

In some respects, I will look at this on Monday, where investors should look for a flat or weak open. If that is the case, and Ulta goes green, there may be more upside and we can have a limited risk program by using the low of the morning (assumed it is within reason). In that case, we might follow as we did with Costco (NASDAQ: COST ).

Top stock markets for morning # 5: Tesla

  top stocks for TSLA

Investors do not buy Model Y-hype from Tesla ( NASDAQ: TSLA ). Friday's downturn means that the Tesla stock remains trapped in a nasty downturn that is not over yet.

The 20-day moving average stopped Tesla dead in their tracks on Thursday, although model Y certainly reveals the question on Friday, not the moving average. If the shares take out this month's downturns, look for a channel support test, probably close to $ 265.

If Tesla continues to fall, it may have a date of $ 250.

Bret Kenwell is the lead and author by Future Blue Chips and is on Twitter @BretKenwell . From this writing, Bret Kenwell is long AAPL.


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