The market slid lower for most of Monday, but then popped off the lows and turned positive in the afternoon. Can it keep up the momentum into the Federal Reserve meeting on Wednesday? With all of that in mind, let’s look at a few top stock trades for Tuesday.
Top Stock Trades for Tomorrow No. 1: Pfizer (PFE)
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Pfizer (NYSE:PFE) is due to report earnings Tuesday morning, and the stock has not been trading all that well. Just below the 200-day now, the stock is doing a good job holding uptrend support (blue line).
If it fails and moves lower after earnings, we could be looking at a retest of the $45 area. Below that and we’ll see a test of the 21-month moving average, a level that hasn’t been tested in more than a year.
On the upside, $50 to $51 has been a recent trouble spot. It’s also where the 50-day moving average comes into play. Above that, and it’s possible we see Pfizer stock push into the $55 to $56 area.
If it gets there, look for potential resistance. Otherwise, It could open the door back to the recent high.
Top Stock Trades for Tomorrow No. 2: Mosaic (MOS)
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We have an earnings trio over the next 24 hours and Mosaic (NYSE:MOS) is second on our list in that regard. Shares pulled back hard last Monday but continued to bounce along the 50-day moving average all last week.
With Monday’s action, the stock has been stuck below the 50-day. If we get a rebound back above this key measure, the next area to watch is the 10-day. During the current decline, this measure was active resistance on Friday.
Bulls will want to see Mosaic stock clear both marks, opening the door to the $70 to $72 area. Back above the latter and the highs are technically in play.
On the downside, however, a post-earnings decline could open the door down to the $50 to $52 area.
Top Stock Trades for Tomorrow No. 3: Expedia (EXPE)
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Travel trends have been improving considerably so far, and Expedia (NASDAQ:EXPE) has surely benefited from it. However, the stock doesn’t act like it as it clings to the 200-day moving average.
On the upside, I would love to see it clear the $193 area. That would put it above all of its daily moving averages, the 61.8% retracement and downtrend resistance (blue line). That opens the door back to $200-plus, followed by the high up at $217.
On the downside, though, keep an eye on the $150 to $151 area. Bulls need that zone to act as support, just as it has for the last several quarters. At least this time around, it has the rising 21-month moving average.
Top Trades for Tomorrow No. 4: Uber (UBER)
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Despite those improving travel trends, Uber (NYSE:UBER) hasn’t traded all that well either.
From here, bulls will want to see channel support and the 2022 low at $28.28 hold. If they break, this name can continue lower. While travel trends have been on the mend, but the trend of this stock is down and looks sickly.
On the upside, bulls will want to see this name go weekly-up over $33.15. That would put it above the 10-day, 21-day and 50-day moving averages as well, all three of which Uber stock is currently below.
In that scenario, it could open the door to last month’s high near $37, then channel resistance and the 200-day near $38 to $39.
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.
