4 Top Stock Trades for Tuesday: HAS, CLVS, XPEV, NLS

top stock trades - 4 Top Stock Trades for Tuesday: HAS, CLVS, XPEV, NLS

Stock extended their gains on Monday, hitting more new all-time highs. Now, let’s look at a few top stock trades for Tuesday.

Top Stock Trades for Tomorrow No. 1: Hasbro (HAS)

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

Hasbro (NASDAQ:HAS) tried to move higher on Monday after reporting earnings, but down 4.3% and it’s just not working out for the bulls. From here, though, the roadmap is pretty clear.

Shares are knifing below the 50-day moving average, but bulls really don’t want to see the $90 level fail as support.

This is a small breakout level and where the 100-day moving average rests. However, the 21-week, 100-week and 200-week moving averages are all in the $90 to $93 area as well. Last month’s low is also within this range.

If it fails, that doesn’t bode well, potentially putting the 200-day moving average on the table.

On the upside, however, $100 is acting as resistance. If Hasbro can recover its losses in the next few weeks, let’s see if we can get a monthly-up rotation over $101.24.

Top Stock Trades for Tomorrow No. 2: Clovis Oncology (CLVS)

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

Clovis Oncology (NASDAQ:CLVS) has been trading well lately. In fact, really well. Shares had been in a pretty rough downtrend since late 2019 until January 2021, when the stock began moving violently to the upside.

Shares ended Monday nearly 10.5% higher, adding to Friday’s 17% gain.

What a beautiful bull pennant setup to the 10-day moving average that CLVS stock gave us after its monstrous move higher. Now extending into the $10.50 area, shares are struggling with the 50% retracement and the May highs.

Above this area opens the door to the 61.8% retracement at $12.18, followed by the 78.6% retracement near $14.50.

On the downside, watch for a move back below $9.50 — the January high. That could put the 10-day moving average in play.

Top Stock Trades for Tomorrow No. 3: Nautilus (NLS)

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

Shares of Nautilus (NYSE:NLS) have been trading better lately.

The company reported strong earnings back in November, but the Street ignored those results, sending NLS stock to multi-month lows.

Nautilus bottomed in late December before rallying back to resistance near $27.50 — the area that stymied the stock in October and November. The recent dip was bought by buyers at the 10-day moving average as shares now retest resistance.

If resistance remains in place, keep an eye on that 10-day moving average. Below last week’s low at $23.30, and a move down into uptrend support and its key moving averages could be on the table.

On the upside, though, a breakout over the highs at $28.43 and a move to $30-plus is possible.

Top Stock Trades for Tomorrow No. 4: XPeng (XPEV)

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

Traders are looking for XPeng (NYSE:XPEV) to give a good move, but we need to wait for some confirmation.

Ideally, I would like to see a weekly-up rotation over $51.34, which would also put the stock over its 10-day, 21-day and 50-day moving averages — all three of which the stock is currently below.

Some investors may not prefer to wait for a rotation and that’s fine. While a move over $51.35 could set up a rally to $55-plus, it would have to climb more than $3 a share just to get to that rotation point. Those that like XPEV stock now and prefer to go long, they must keep an eye on $45.86.

A move below this mark would be concerning and potentially put sub-$40 on the table.

On the date of publication, Bret Kenwell did not have (either directly or indirectly) any positions in any of the securities mentioned in this article.

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


Article printed from InvestorPlace Media, https://investorplace.com/2021/02/4-top-stock-trades-for-tuesday-has-clvs-xpev-nls/.

©2021 InvestorPlace Media, LLC