Market Overview

8 Key Technical Levels Discussed 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.

  • Target Corporation (NYSE: TGT) - went down to $56.69, so keep an eye on that price. $56.58 was the low from Oct. 10. Below that, there's limited support until the Oct. 9 low of $55.66.
  • Square Inc (NYSE: SQ) - leaked off the pre-market high of $41.28. The all-time closing high from Monday of $39.98 is support.
  • Childrens Place Inc (NYSE: PLCE) - The pre-market high was $120. It's holding up there, so there could be enough juice to reach the all-time high of $125.30 from May.
  • SPDR S&P Homebuilders (ETF) (NYSE: XHB) - $41.59 is the high of the move, and there's a triple bottom in the low $40s.
  • Foot Locker, Inc (NYSE: FL) - $28.42 is the low of the move, and there's short-term resistance at a double top at $31.40.
  • AT&T Inc. (NYSE: T) - There's a double top at $34.50, so that's resistance for now. $32.55 is the low of the move.
  • Netflix, Inc. (NASDAQ: NFLX) - $196.05 is the high of the move. We want to see it hold the $189.50 level, which is November's low.
  • Amazon.com, Inc. (NASDAQ: AMZN) - the new all-time high from Monday is $1139.90, that's resistance until it breaks through.

Watch the full show below!

PreMarket Prep is 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 on YouTube Live. The podcast is available on iTunes, Soundcloud, and Stitcher.

Posted-In: PreMarket PrepTechnicals Intraday Update Media Trading Ideas

 

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