SPECIAL REPORT The Top 7 Stocks for 2024

4 Top Stock Trades for Tuesday: WMT, MSFT, HD, WEBR


top stock trades - 4 Top Stock Trades for Tuesday: WMT, MSFT, HD, WEBR

After a strong finish on Friday, markets were mixed and choppy on Monday. With that in mind, here’s a look at a few top stock trades going into Tuesday.

Top Stock Trades for Tomorrow No. 1: Walmart (WMT)

Weekly chart of WMT
Click to Enlarge
Source: Chart courtesy of TrendSpider

Walmart (NYSE:WMT) had been one of our best trades earlier this year, but the market-wide volatility has sapped this stock’s energy lately.

Now trying to find its footing just below $150 and Walmart is due to report earnings.

On the downside, bulls don’t want to see this stock lose $144. If it does, it puts it below last week’s low, as well as the 21-week and 50-week moving average. That could put $140 or lower on tap.

On the upside, though, $155 is the gateway to higher prices. Above that opens the door to the $158 to $160 area. Above that could open the door up to $170.

Top Stock Trades for Tomorrow No. 2: Microsoft (MSFT)

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

Similar to Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT) was holding a key support area that recently failed. For Microsoft, that’s $270 to $275.

This is a key area, which was support and now may very well be resistance. In this zone, we also find the declining 10-week and 21-week moving averages. Keep in mind, this is a nearly $2 trillion market cap company. If it can’t get gain momentum — along with other mega-cap tech stocks — the Nasdaq Composite will likely continue to struggle.

If it can clear all of the above measures, then the 50-day moving average is the upside target.

On the downside, keep an eye on the May low at $250. A break of that level could usher in more downside.

Top Stock Trades for Tomorrow No. 3: Home Depot (HD)

Weekly chart of HD
Click to Enlarge
Source: Chart courtesy of TrendSpider

Like Walmart, Home Depot (NYSE:HD) will report earnings before the open on Tuesday. The home improvement retailer has been trapped below the 10-week moving average, as sellers continue to unload the stock.

Has it been washed out enough, as it hugs the monthly VWAP measure?

A bearish post-earnings reaction will have the $280 level on watch. If it fails, the $250 area could be on tap, along with the 200-week and 50-month moving averages.

On the upside, we need to see the 10-week reclaimed. If it can do that, the $320 level is in play and has been resistance lately. If it clears that, the 21-week moving average is on the table.

Top Trades for Tomorrow No. 4: Weber (WEBR)

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

Weber (NYSE:WEBR) initially traded lower on earnings but was about flat on the day now. Shares made new lows on this morning’s move as well.

If this stock can regain momentum, it’s possible we see a test of the $8.50 area. That was a major breakdown area recently and it’s roughly where the declining 10-week moving average comes into play. If it clears this level with some gusto, then $10 is on the table.

On the downside, a move below last week’s low near $6.50 puts the all-time low back in play.

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.

Article printed from InvestorPlace Media, https://investorplace.com/2022/05/4-top-stock-trades-for-tuesday-wmt-msft-hd-webr/.

©2024 InvestorPlace Media, LLC