This story was originally published here.
Stocks ended the week on modest gains, as bulls turn their attention to next week’s earnings report. With that in mind, let’s look at a few top stock trades for Monday.
Top Stock Trades for Monday No. 1: Amazon (AMZN)
Amazon (NASDAQ:AMZN) has been on a tear from the March lows. Even after the latest pullback, shares are still up about 80% from the lows.
The stock is now down for five straight sessions and failing to hold the 10-day moving average. To be honest, this is exactly what you want to see if you are a bull in Amazon. The last thing you want ahead of earnings is a surge higher into the print.
If shares continue lower ahead of the print, see if the 20-day moving average holds as support, followed by uptrend support (blue line).
Below these marks — either before or after earnings — puts the 50-day moving average and $2,500 breakout level in play. Over the 10-day moving average and $3,000, however, puts the 261.8% extension in play, up at $3,090. Above that, and the three-times range extension is in play near $3,300.
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