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Quad witching day, one of four each year, pulled the rug out from under a lot of traders on Friday. On Thursday we warned about the potential headaches it would cause and we’re seeing it play out today. Let’s look at a few top stock trades for next week.
Top Stock Trades for Tomorrow No. 1: Apple (AAPL)
Apple (NASDAQ:AAPL) shares turned lower on the day after the company announced it would close its retail locations in several states getting hit the hardest by the novel coronavirus.
This created a ripple effect — as we’ll discuss in a moment — as Apple was one of the first retailers to close down earlier this year due to Covid-19.
Look, this stock has been very resilient, pushing through its prior highs earlier this month and racing all the way over $350. Shares could not sustain above the 123.6% extension from the March low to the February high, which came into play at $353.31.
Now, pulling back, I want to see if uptrend support (blue line) holds as support. Falling below that puts the 20-day moving average in play. A dip below that puts the $325 breakout level on the table.
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Electric cars are taking over
A new type of battery is pushing everything we thought we knew about energy storage to the limits.
According to automotive insiders, consumers will soon be able to go 1,000 miles on a single charge.
Think about that for a moment…
That’s nearly TRIPLE the distance of the best-performing electric cars on the market right now — and more than 8 TIMES farther than the average electric car…
That means you could drive from New York City all the way down to Daytona Beach, Florida, without stopping!
A 1,000-mile range clobbers even the most fuel-efficient gas vehicles on the road today!
In short, this tech is about to change EVERYTHING.
Here’s the best part:
At the heart of this new technology is one company — 1/1,000th the size of GM.
If you want to get in on the electric car revolution, this is easily the best way to do it.
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Senior Investment Strategist, InvestorPlace