This story was originally published here.
The stock market got off to a robust start on Tuesday, jumping on stronger-than-expected retail sales and hopes over a novel coronavirus treatment. With all of that mind, let’s look at a few top stock trades going into Wednesday.
Top Stock Trades for Tomorrow No. 1: Roku (ROKU)
Roku (NASDAQ:ROKU) came roaring back to life on Tuesday, jumping more than 12%.
Amid that move, shares reclaimed the 20-day and 50-day moving averages, after a couple of nice hammer candles over the past two weeks (shown on the chart with black arrows).
If Roku can reclaim the 200-day moving average, it puts the $130 to $135 area in play. Above that opens up upside toward the $145 to $150 area. That is, unless the stock is in play for mergers and acquisitions, as some investors seem to be speculating.
On the downside, however, look for a move below the 50-day moving average. Below puts the weekly low near $104 in play. Below that, and $100 or lower could be possible.
Editor's Note: Click here to keep reading.
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