Market Overview

8 Technical Levels Highlighted On Monday's PreMarket Prep

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The following stocks and technicals were mentioned on Moday'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.

  • Advanced Micro Devices, Inc. (NASDAQ: AMD) - $10.57 is the June low. That's a key support level.
  • Chipotle Mexican Grill Inc (NASDAQ: CMG) - It looks like the sellers are finally done. The stock has a three-day range from $270-$283.99, and needs to hold Friday's close of $275.15.
  • Merck & Co., Inc. (NYSE: MRK) hit a pre-market low of $54.75. Below that the next relevant number is the June 2016 low of $55.10.
  • Bristol-Myers Squibb Co (NYSE: BMY)- looks like it's pausing at Friday's $61.69 high, so that'll be key resistance.
  • General Motors Company (NYSE: GM) needs to stay above $43, or look out to $40.80 if it can't.
  • Under Armour Inc (NYSE: UAA) - $14.75 was the pre-market low. Above that there's an old low at $15.75. If it can get up there, look for it to fill the gap at $16.
  • JD.com (ADR) (NASDAQ: JD) has major resistance at $39.
  • Piper Jaffray Companies (NYSE: PJC) needs to hold $66 as key support

Posted-In: PreMarket PrepTechnicals Pre-Market Outlook Markets Trading Ideas

 

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