4 main Monday stock transactions: Bitcoin, ARKK, MSFT, XPEV

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Stocks have struggled all week and now they are erased on Friday, ending the week on a sour note after a poor monthly jobs report. With that in mind, let’s take a look at some of the top stock trades that will start over the weekend.

Top Monday Stock Transactions # 1: Bitcoin (BTC-USD)


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Source: Graphic courtesy of TrendSpider

Like the stock market, Bitcoin (CCC:BTC-USD) hasn’t been doing well lately. After its recent flush, the cryptocurrency was unable to recover the $ 59,000 area.

After repeated efforts, this area – along with the decline in the 21-day moving average – continued to reject Bitcoin this week. Now pushing down, the $ 53,500 level is the center of attention.

If that level doesn’t hold, it could put the 61.8% retracement and 21-week moving average on the bridge. Below that opens the door to the 200-day moving average.

On a rebound, however, the bulls need to see Bitcoin recover from the 21 and 10 day moving averages in order to have a lasting upward rally.

Main stock market transactions for Monday n ° 2: Ark Innovation Fund (ARKK)

Best Stock Transactions for ARK
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Source: Graphic courtesy of TrendSpider

What a brutal race it was for the Ark Innovation Fund (NYSEARCA:ARKK), which is now down 40% from its all-time highs.

ARKK drops below May’s low of $ 97.22, which was the bear market low before a strong rebound of over $ 30 per share.

It comes right into the 10-quarter moving average, which isn’t necessarily everyone’s go-to metric, but it could provide some sort of stabilization. Despite slight losses in the broader market, growth stocks were decimated.

If ARKK continues to fall, we’ll have to see how it handles the 200 week moving average and the 61.8% retracement.

On the upside, however, bulls need that baby above $ 97.22 and then over $ 100.

Top Monday Stock Transactions # 3: Microsoft (MSFT)

Best Stock Transactions for MSFT
Click to enlarge

Source: Graphic courtesy of TrendSpider

A favorite among many investors, Microsoft (NASDAQ:MSFT) also declined.

This nice winner goes straight back to his 10-week and 50-day moving averages. If this area holds, I am looking for a rebound in the $ 328 to $ 330 area. Above that, the 10 and 21 day moving averages are in play.

On the other hand, there are two areas that interest me that should endure failure.

Below 50 days is the gap fill level at $ 312.40. If stocks continue to fall, the $ 305 breakout zone and 21-week moving average are in play.

Best Monday Transactions # 4: Xpeng (XPEV)

Best Stock Transactions For XPEV
Click to enlarge

Source: Graphic courtesy of TrendSpider

Xpeng (NYSE:XPEV) cratered that day, down almost 10%. The stock gave us a great bearish reversal trade earlier in the week, but few expected such a drop.

Now below the $ 45 breakout zone, the bulls will need to see if the 50 day moving average can hold up as support.

If possible, a pullback of more than $ 45 could quickly put the $ 48- $ 50 area on the bridge.

A move below Friday’s low would bring the 200-day moving average into play, as well as the $ 38- $ 40 area.

As of the publication date, Bret Kenwell does not have (directly or indirectly) any position in any of the stocks mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com Publication guidelines.

Bret Kenwell is the director and author of Future Blue Chips and is on Twitter @BretKenwell.

The post office 4 main Monday stock transactions: Bitcoin, ARKK, MSFT, XPEV appeared first on Investor place.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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