Millions of People Will Soon Be Blindsided. Will You Be One of Them?

On April 20 at 7 p.m. ET, Louis Navellier and Matt McCall will reveal an event that’s about to rock the stock market and how you could use it to beat the markets by nearly 11X.

Tue, April 20 at 7:00PM ET

4 Top Stock Trades for Thursday: Bitcoin, BABA, FUBO, NIO

top stock trades - 4 Top Stock Trades for Thursday: Bitcoin, BABA, FUBO, NIO

It was another quiet day in the market as we near the last trading day of 2020. That said, let’s look at a few top stock trades for Thursday, the last session of the year.

Top Stock Trades for Tomorrow No. 1: Bitcoin (BTC)

top stock trades for BTC
Click to Enlarge
Source: Chart courtesy of TradingView

Bitcoin (CCC:BTC) has been on fire lately, and the crypto bulls are loving it! Just as they should.

The cryptocurrency has been wavering a bit over the last few days, but ultimately powered through to new all-time highs on Wednesday.

I’ll be honest, I’m not the biggest bitcoin believer out there. But, I’m not afraid to be bullish when the charts call for it and I love that it trades very technically.

Just look at the way that BTC has respected the levels on the chart. It had a rally to the 161.8% extension, and then backed off. It rallied to the two-times range extension and paused before breaking out. Now racing higher, I fully expect bitcoin to come close to or exceed $30,000 — the 261.8% extension.

On a break of the 10-day moving average, the $24,000 level is back in play, followed by $20,000 and the 50-day moving average.

Top Stock Trades for Tomorrow No. 2: Alibaba (BABA)

top stock trades for BABA
Click to Enlarge
Source: Chart courtesy of

Alibaba (NYSE:BABA) has been a volatile one lately, plunging last Friday to a low of $211.23 before reversing. By the way, that area — $211.70 — was a major multi-year high from 2018.

I thought the selloff was a bit ridiculous, given that the company is a complete juggernaut. But that’s neither here nor there.

We’ve had a strong bounce in the name after three strong rally days. Alibaba is now meeting resistance from the 10-day moving average. If it can clear this mark and the 200-day moving average, look for a gap fill up toward $253.

Over the gap fill, and we will need to see some rotations take place, preferably over the December high.

On the downside, though, a break of $230 could put $222 on the table, followed by a retest of the lows.

Top Stock Trades for Tomorrow No. 3: FuboTV (FUBO)

top stock trades for FUBO
Click to Enlarge
Source: Chart courtesy of

FuboTV (NYSE:FUBO) has also been all over the place, now down almost 50% from its highs on Dec. 22, after five straight declines. This one is troublesome, though.

Even without the short reports, I don’t love the action.

I usually love when strong stocks pull back into the 10-day moving average, just like FUBO stock did. However, it then gapped below the 10-day moving average on Monday.

It stayed below this measure for two straight sessions. A rotation back up would have been constructive — even bullish. But instead it broke the two-day low and is now dipping below the 21-day moving average.

If it can’t hold current levels, $30 could be in play, followed by the 50-day moving average. If Fubo reclaims the 21-day moving average, see that it recaptures that two-day low, then retests the 10-day moving average. Over $40 is bullish and puts a gap-fill in play.

Top Trades for Tomorrow No. 4: Nio (NIO)

top stock trades for Nio
Click to Enlarge
Source: Chart courtesy of

This little firecracker continues to trade quite well. It’s like a technician is orchestrating the moves in Nio (NYSE:NIO) and with the market pulling the strings, it very well could be due to overwhelming technical analysis.

The stock bounced hard off the 50-day moving average on Tuesday, it’s first test in months. In doing so, it posted a strong reversal and reclaimed the 10-day and 21-day moving averages, albeit, barely.

It then extended those gains on Wednesday.

I now want to see the stock rotate over last week’s high near $50, opening up the $55 to $57.50 area as a possible upside target. A drop below the 10-day moving average puts the 50-day back in play.

On the date of publication, Bret Kenwell held a long position in BABA.

Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell.

Article printed from InvestorPlace Media,

©2021 InvestorPlace Media, LLC