Market Overview

10 Stocks Highlighted On Wednesday's PreMarket Prep

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The following stocks and technicals were mentioned on Wednesday's edition of PreMarket Prep, a daily trading ideas show hosted by former floor trader Joel Elconin and prop trader Dennis Dick.

You can listen to the show live every day from 8-9 a.m. ET here, or catch the podcast on iTunes, Soundcloud, and Stitcher

  • International Business Machines Corp. (NYSE: IBM) - Had tons of weekly resistance $155-156, but looks to be filling the gap from May at $158.36 from when Warren Buffett lightened his position.
  • Lam Research Corporation (NASDAQ: LRCX) - Look for it to stay above yesterday's high and all-time high of $194.55.
  • Interactive Brokers Group, Inc. (NASDAQ: IBKR) - Will old resistance be new support at $48.15?
  • U.S. Bancorp (NYSE: USB) - Has multiple (8) highs at $54.40.
  • SUPERVALU INC (NYSE: SVU) - Major overhead supply, low of yesterday's move was $18.50.
  • Chipotle Mexican Grill, Inc (NYSE: CMG) - Has pre-market support at $320, which is also the last two lows.
  • Ulta Beauty Inc (NASDAQ: ULTA) - Not even at two-day low 195.27.
  • Ford Motor Company (NYSE: F) - There are mounds of sellers at the $12.40 area.
  • MGM Resorts International (NYSE: MGM) - Got a downgrade into underneath demand at a triple bottom from $29.56-$29.63.
  • GoPro Inc (NASDAQ: GPRO) - Has three highs from $9.69-$9.79. If it clears there, that’ll give $10 a shot.

Posted-In: PreMarket PrepLong Ideas Short Ideas Technicals Pre-Market Outlook Trading Ideas

 

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