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Evening Stock Watch-List: August 1, 2019

Evening Stock watch-list: August 1 2019

August 1, 2019

Hello there! Below is your edition of this evening’s watch-list. We hope you have a great trading day tomorrow! 

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Futures At A Glance

DOW S&P 500 NASDAQ BITCOIN GOLD

+23 (+0.09%)

+2.5 (+.08%)

+7.5(+.10%)

+5 (+.05%)

-16 (-1.11%)

AMD

Advanced Micro Devices ($AMD) reported earnings the morning and lowered guidance heavily despite reporting in-line earnings numbers. This is a big deal, and I have been watching this 6-month trendline for a while now anticipating the breakdown and today we got it. Not only did AMD close at low of day but it settled underneath the 6-month trendline. This is big. It signals a massive sentiment change, and finally the algo’s can stop pushing this thing mindlessly. I anticipate this to make a healthy bu strong pull back to the mid $20 area in the coming months. As for tomorrow, I would look aggressively for any early morning upwards action to get situated short on.

HSBC

HSBC Holdings PLC ($HSBC) is a Foreign Money Center in the Financial sector. Although  stocks in the financial sector typically do not boast adequate range for day trading, but for a high share float HSBC has quite a bit of range. Moving from highs of $40.30 to lows of $39.92 in just under an hour during yesterday’s trading session, this stock can provide quite a bit of upside in a short amount of time. I plan to day trade this over the two-point $40.30 natural resistance level for the technical breakout!

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