Stocks to watch next week $V (VISA), $BABA (ALIBABA), $CDE (COEUR MINING)
In this article, we will review the stocks to watch for trading next week. Trading technical analysis with possible trading strategies.
A strong upside reversal, with the high possibility of the extension higher, is visible on the 8 H chart. Visa (NYSE) is breaking above the strong 145.50 level and this break by an extension could lead to an upside continuation into the 151.40 level. You can go into the long trade with the close stop loss just below 144 level.
Alibaba stocks (NASDAQ) are breaking above the strong upside resistance 165-168 zone and are opening the extreme upside reversal into the 189 level at least, with the near-term resistance at 61.8% Fibonacci retracement of the June-Nov 2018 downside swing. Look for the long-trade entries with the stop loss below 173.
As the metals are recovering take into your watch list the stocks of Coeur mining company (NYSE). We will have a retest of the strong upside support now, previously a resistance 4.80-5 zone. Look for the long trade entries on a bullish price action from here, targeting 6 at least with possible extension higher.
We have used the combination of the top-down trading analysis to get these key levels explained on the charts.
Happy trading! (click on the chart to enlarge it)
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