Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

8 Stocks To Watch As Global Markets Race Higher On March 18

Published 03/18/2019, 08:32 AM
Updated 09/20/2023, 06:34 AM

US Markets

International Markets

Global Markets

Stocks are rising sharply around the globe with China leading the way higher. Perhaps more important is that the UK FTSE is nearing a very significant technical break out. The index is trading right at technical resistance of 7,283. Should the index cross above this level of resistance it could go on to increase an additional 3% to 7,521.

FTSE

US Trading

S&P 500 (SPY (NYSE:SPY))

The S&P 500 will try to continue to rally today after a big session on Friday which saw the index reach fresh 2019 highs. The next level of resistance comes around 2% higher at 2,872. Meanwhile, should the index pullback the 2,800 region will offer a tremendous amount of support.

S&P 500

Russell 2000

The Russell 2000 should be watched closely. The index failed two times at 1,562. Support for the index comes around 1,538. But we can see from the chart the longer-term setup shows a giant wedge pattern forming which could signal a much more significant increase is coming, perhaps sending the index to 1,710.

Russell 2000

Housing Sector (HGX)

The housing sector is also nearing a massive breakout and could climb to 295 in the short-term.

PHLX Housing

Boeing (NYSE:BA)

Boeing is continuing to decline today down another 3%, on news that prosecutors and the transportation department are investigating how the FAA approved the 737 MAX. The stock is once again falling below crucial support again at $371. It once again increases the risk that the stock continues to decline to around $326.

Boeing

Nike (NYSE:NKE)

Nike’s price target was raised at Telsey to $95 from $92 ahead of its quarterly results later this week.

Nike

Facebook (NASDAQ:FB)

Facebook continues its decline, nothing has changed here, and I am still waiting for that plunge to $149.

Facebook

Alibaba (NYSE:BABA)

Alibaba is lifting today along with many of the other names in China. The path for BABA continues to look higher, and $201 does seem possible.

Alibaba

IQiyi (NASDAQ:IQ)

IQiyi is rising this morning too, and I think the path appears higher towards $30.

iQIYI

JD (NASDAQ:JD)

JD is also rising in the pre-market and continues to point higher towards $30.

Netflix (NASDAQ:NFLX)

Netflix should continue to be watched. The stock may have broken out on Friday, and if that is the case, then the stock could be on its way higher towards $380.

Netflix

Amazon (NASDAQ:AMZN)

Amazon also broke its downtrend on Friday, and that could clear a path to $1,770.

Amazon

Good luck today!

Original post

Latest comments

thanks
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.