4 Top Stock Trades for Tuesday: AAPL, GOOGL, AVGO, DOW

top stock trades - 4 Top Stock Trades for Tuesday: AAPL, GOOGL, AVGO, DOW

It’s a busy week, with the first quarter coming to an end on Thursday and the jobs report on Friday, among other events. With all of that in mind, let’s look at a few top stock trades as traders check “Monday” off the list.

Top Stock Trades for Tomorrow No. 1: Apple (AAPL)

Top stock trades for AAPL
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Source: Chart courtesy of TrendSpider

Apple (NASDAQ:AAPL) was one of the few stocks to start off on the wrong foot this morning and it had many traders — too many in fact, to the point where we missed our entry — looking for a buy-the-dip opportunity.

Snapping higher now, Apple is still struggling with Friday’s high near $175.

If Apple can clear this level, then $176.50 resistance in play. On the downside, a break below Monday’s low and the 10-unit moving average on the four-hour chart (which is what we’re using here), puts the 10-day moving average in play.

Below that and the $166 area is key. There is finds multiple moving averages on the four-hour and daily timeframes.

Top Stock Trades for Tomorrow No. 2: Alphabet (GOOG, GOOGL)

Top stock trades for GOOGL
Click to Enlarge
Source: Chart courtesy of TrendSpider

So far, Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) is giving us an inside day on Monday. It’s worth mentioning that Alphabet is also putting in an inside month.

I would love some sort of shallow dip down the 200-day and 10-day moving averages. Not only would that give bulls a short-term dip-buying opportunity, but it would give them the potential to buy-the-dip as a trade and swing Alphabet for a little longer than usual.

Not only is it a strong name in the tech space, but it would give us the potential for an inside-and-up play over the March high.

Will it come to fruition? No idea. But if it does, we’ll be prepared. That’s half the battle.

Top Stock Trades for Tomorrow No. 3: Broadcom (AVGO)

Daily chart of AVGO stock
Click to Enlarge
Source: Chart courtesy of TrendSpider

I flagged Broadcom (NASDAQ:AVGO) on the midday dip, looking for a potential buying opportunity.

On Thursday, Broadcom made a powerful breakout over last month’s high and the 61.8% retracement. A dip to this area was (and remains) a solid buying opportunity, provided it holds as support along with the rising 10-day moving average.

Over last week’s high of ~$630.50 could open the door to $650.

If support fails on the pullback, look to the 21-day and 50-day moving averages.

Top Trades for Tomorrow No. 4: Dow (DOW)

Top stock trades for DOW
Click to Enlarge
Source: Chart courtesy of TrendSpider

Like Broadcom, Dow Inc. (NYSE:DOW) gave bulls a decent dip-buying opportunity this morning.

Going forward, keep an eye on this stock. It’s bouncing nicely off the 10-day, which came into play just above the fourth-quarter high and major breakout area of $62.50.

As long as it’s above those measures, bulls can fish for more upside. Over $65 and the rally can continue. On the downside, a break of $62.50 opens the door to the $60 area — where it finds the 21-day, 50-day and 200-day moving averages.

On the date of publication, Bret Kenwell held a long position in DOW. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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

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


Article printed from InvestorPlace Media, https://investorplace.com/2022/03/4-top-stock-trades-for-tuesday-aapl-googl-avgo-dow/.

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