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3 Stocks That Could Make A Big Move Lower This Week

April 19, 2021 12:44 pm
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3 Stocks That Could Make A Big Move Lower This Week

Microsoft Corporation (NASDAQ:MSFT), Delta Air Lines, Inc.(NYSE:DAL) and Facebook, Inc. (NASDAQ:FB) could all be about to make large moves lower.

Microsoft is overbought, which means it's trading at an extreme above its recent trading range. The bottom half of the following chart is the Relative Strength Momentum Indicator (RSI). The last two times it was as high as it is now were followed by a sell-off.

See also: How to Buy Delta (DAL) Stock

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Delta is testing support around the $46 level, which was support twice in March. There’s a chance Delta's stock rebounds once again, but if this support breaks, a big move lower may follow.

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Facebook is testing support at the $300 level. There’s support at this level because investors like placing their orders at round levels. This is why this level was resistance last August.

If this support holds, it could set the stage for another move higher. But if this important level breaks, a large sell-off may follow.

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