What a sloppy, hellish day for traders on Thursday. The end-of-quarter trading brought with it plenty of ups and downs in the session as investors look to close out a frustrating and choppy month. If you rode the waves nicely on the day, kudos to you. If not, turn your focus to Friday. With all of that in mind, let’s look at a few top stock trades.
Top Stock Trades for Tomorrow No. 1: Virgin Galactic (SPCE)
Did shares of Virgin Galactic (NYSE:SPCE) give us an “empty out” day on Wednesday, falling to new lows for the month and closing at the low of the day?
Perhaps, but not intentionally. Positive news launched this one higher on Thursday, with shares higher by more than 12% on the day. More importantly, SPCE stock is back above the key $24 level.
From here, bulls can stay long against the $23.90 level or for more aggressive traders, the September low at $22.53. Below $22.50 and $21.75 is likely on the table, followed by a potentially deeper dip down to $17.27 and the 200-week moving average.
On the upside, however, above the 50-day moving average opens the door to the gap-fill level near $31 and the 200-day moving average.
Top Stock Trades for Tomorrow No. 2: Netflix (NFLX)
Netflix (NASDAQ:NFLX) made new all-time highs on the day before backing off those levels. From here, though, things actually get pretty tricky. Trading a stock at its highs is not easy, particularly when the market is acting turbulent.
That’s because the risk has increased so much from where our typical stop-loss would be.
If NFLX stock clears $615.60 — the prior all-time high — it opens the door to a potential run at the 161.8% extension, up near $650.
On the downside, however, below $615 keeps NFLX stock vulnerable to a test of $600, followed by $593 and its 10-day and 21-day moving averages.
Top Stock Trades for Tomorrow No. 3: CarMax (KMX)
Shares of CarMax (NYSE:KMX) are got waxed on the day, down almost 13% after reporting earnings.
The stock has a pretty wide range from the day, so it could really go either way. Keep an eye on Thursday’s low near $128.50. Below that, and the 21-week moving average could open the door to the 200-day.
On the upside, however, let’s see if KMX stock can clear the 50-day. Above this moving average puts today’s high near $136 in play. That could put the $138 to $140 zone on the table, followed by the gap-fill up near $143.80.
Top Trades for Tomorrow No. 4: Aterian (ATER)
Last but not least, we have one of the latest short-squeeze favorites: Aterian (NASDAQ:ATER).
At one point, Aterian was up nicely on the day, with gains in excess of 18%. This one has been all over the place. For that reason, it’s going to keep some investors out of it. For those that want to play along though, keep the $9 level and the 50-day moving average in mind.
If ATER stock loses both of these marks, it could be headed significantly lower.
Above Thursday’s high at $11.78 opens the door to higher prices. That will put it over the 10-day, 21-day and 21-week moving averages. Who knows, maybe even $14 to $15 (or higher) could be on the table in that case.
On the date of publication, Bret Kenwell did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.