Welcome to the first 2018 edition of T3 Live’s Trades of the Week!
Today, we’re proud to announce that Mark Melnick, creator of the Newsbeat Live program, is making his Trades of the Week debut with his Macy’s (M) long idea.
Let’s jump right in to this week’s trades and analysis:
1) Scott Redler on Apple (AAPL)
We’ve been covering Apple (AAPL) closely the past few weeks, so let’s take a fresh look on the first day of the New Year. There’s a bearish open gap but I’m still long some.
Active traders can use $169.20 as a stop. But watch to see if it clears $170.15. That would take pressure off.
Click here to learn about Scott Redler’s 2018 Market Outlook Report
2) Mark Melnick’s Macy’s (M) Long Idea
I have been bashing Macy’s (M) for years, but it’s at the point where the market cap is less than the value of its midtown Manhattan property alone. Never underestimate the power of real estate, so I think we can get long Macy’s.
My first target is $31.30.
Click here to learn about Mark’s Newsbeat program
3) Pretium Resources (PVG) Long by Jeff Cooper
I am looking for a long swing trade in PVG based on a Cup & Handle pattern. I would enter long at $11.65 with a stop of $10.65.
Click here for information on Jeff’s 181-page trading case study
4) Kurt Capra on Ethereum
Ethereum broke out above the prior high but hit its head on the $900 level. A close above $900 is the signal traders are looking for to signal another wave higher, possible through $1000.