Equities exploded higher, with the Nasdaq Composite hitting a record high, as a better-than-expected labor report sent stocks higher. With that in mind, let's look a few top stock trades for next week. Top Stock Trades for Monday No. 1: Slack (WORK) Click to EnlargeSource: Chart courtesy of StockCharts.comSlack (NYSE:WORK) stock is getting hammered on Friday, down more than 14% after disappointing quarterly results. However, shares declined right down into potential support.The $30 to $30.50 area was multi-month resistance, keeping a lid on WORK as bulls continued to bid it higher. On Friday's gap down, though, Slack found buyers just before this level was hit — pushing it back up toward $33.InvestorPlace – Stock Market News, Stock Advice & Trading TipsNext week, bulls have a big task ahead of them. They need to build on Friday's momentum off the lows, preferably pushing shares back above the 20-day moving average. If it can, it will begin to fill back into the gap. * 7 Hotel Stocks to Buy Before Vacationing Restarts On the downside, however, see how Slack handles the 50-day moving average should shares break below $30. Top Stock Trades for Monday No. 2: Nvidia (NVDA) Click to EnlargeSource: Chart courtesy of StockCharts.comI made a point earlier, highlighting how Nvidia (NASDAQ:NVDA) has been sluggish since reporting earnings. That said, though, the bears haven't been able to crack this stock — which rallied hard into earnings before reporting a solid result.It has continued to hold the 10-day moving average over the past week, as shares work on pushing over $355.This setup is simple. Over $355, and $360 is in play. Once we get to next week, look to see if Nvidia can go "weekly up" by rotating over this week's high (currently at $359.88). A move over that could put the all-time highs near $367 in play.On a break of the 10-day moving average, though, see how Nvidia does on a test of the 20-day moving average and uptrend support (blue line). Below puts $310 and the recent low near $320 in play. Top Stock Trades for Monday No. 3: Royal Caribbean (RCL) Click to EnlargeSource: Chart courtesy of StockCharts.comThe "reopening America" trades have been red hot, and cruises aren't missing out on the action. Royal Caribbean (NYSE:RCL) is among the group, up more than 20% on Friday alone.In late May, RCL stock broke out over multi-month resistance near $50, then held this level as support. After several days of consolidation, RCL exploded higher on Friday — reclaiming its declining 100-day moving average amid the move. * 3 Chinese Stocks to Buy As Emerging Markets Heat Up Bulls will now want to see this level hold as support. On the upside, see if Royal Caribbean can extend up into the $75 to $80 zone where it finds the 50% retracement and resistance from March. Above puts the 200-day moving average in play. Top Stock Trades for Monday No. 4: Carnival Cruise (CCL) Click to EnlargeSource: Chart courtesy of StockCharts.comCarnival Cruise (NYSE:CCL) is also performing well, ending the day Friday up more than 16%. However, the stock has not been trading as well as RCL.That said, after a solid double-bottom in March and April, shares put in a higher low before breaking out over resistance near $18. Now after gapping higher on Friday, CCL faces a tall task.Shares face the 38.2% retracement, declining 100-day moving average and a big gap between $24.50 and $27. Above that, and the 200-day moving average is a possible upside target. But if I've been long this name, I'd be trimming a bit into this strength.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long NVDA. More From InvestorPlace * Why Everyone Is Investing in 5G All WRONG * Top Stock Picker Reveals His Next 1,000% Winner * The 1 Stock All Retirees Must Own * Look What America's Richest Family Is Investing in Now The post 4 Top Stock Trades for Monday: WORK, NVDA, RCL, CCL appeared first on InvestorPlace.
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In this article you are going to find out whether hedge funds think Bed Bath & Beyond Inc. (NASDAQ:BBBY) is a good investment right now. We like to check what the smart money thinks first before doing extensive research on a given stock. Although there have been several high profile failed hedge fund picks, the […]
If there's one thing that traders have learned about Inovio Pharmaceuticals (NASDAQ:INO) stock, it's that half a year can make a huge difference. Biotechnology stocks can be fast movers, sure, but this particular one has been a real barn burner, as they say.Source: Ascannio / Shutterstock.com INO stock was trading for $3 and change at the beginning of this year, but a whole lot has happened since then. The spread of the novel coronavirus has put clinical-stage biotechnology companies like Inovio in the spotlight. And that's enriched its stockholders while causing problems for short sellers.The share price did ease off of the mid-May peak, but that's not necessarily indicative of any actual problems with Inovio. For those traders who did choose to take profits on INO stock, they may soon find that they cut their winnings short and left a considerable amount of money on the table.InvestorPlace – Stock Market News, Stock Advice & Trading Tips A Serious ContenderThe race to develop a vaccine for the coronavirus is still in effect and it's closely watched by the investing community. Each stage of progress in the development of a vaccine is likely to be rewarded by stock traders.Among the contenders in the biotechnology space, Inovio is a strong candidate. It is working tirelessly in pursuit of the elusive coronavirus vaccine. A recent research study suggested potentially positive results for Inovio's Covid-19 vaccine candidate, INO-4800. In this study, the vaccine candidate was tested on laboratory mice and guinea pigs.Those preliminary findings aren't the be-all and end-all, but they represent great progress for Inovio. By the end of this year, the company plans to have 1 million doses of INO-4800. It's conceivable that Inovio could become a household name in 2020. * 7 Hotel Stocks to Buy Before Vacationing Restarts And a high-figure financial award could help Inovio's plans come to fruition. Specifically, the Coalition for Epidemic Preparedness Innovations has given Inovio a total of $17.2 million. That's a tremendous head start from a financial standpoint. A Promising PartnershipHaving access to the capital provided by the Coalition for Epidemic Preparedness Innovations will undoubtedly prove to be advantageous for Inovio. But a game-changing partnership between research-driven entities could give Inovio an even greater edge over the competition.On June 4, the International Vaccine Institute and Seoul National University Hospital announced a headline-grabbing collaboration. Together, they will commence a Phase 1/2 clinical trial of INO-4800 in South Korea.This event is already making history as this two-stage trial, which is scheduled to begin later in June, will be the first Covid-19 vaccine clinical study in Korea. At first, INO-4800 will be tested on 40 healthy adults ranging in age from 19 to 50 years.After that, 120 more people, ranging in age from 19 to 64 years, will be enrolled in the study. Funding for this research will come from the Coalition for Epidemic Preparedness Innovations with support from the Korea Center for Disease Control and Prevention/Korea National Institute of Health.This is an excellent example of fast-tracking in action. Usually it would take several years to begin clinical trials for a new vaccine. But since the need for a coronavirus vaccine is urgent, this INO-4800 study can start promptly.International Vaccine Institute Director General Jerome Kim expressed eagerness to move forward with the trial. He called the INO-4800 research "a crucial step in the development of an urgently needed COVID-19 vaccine."Seoul National University Hospital Professor Myung Don Oh also emphasized the importance of the upcoming INO-4800 trial. He predicted that the trial "will provide significant momentum in easing fears over the pandemic and helping return to normalcy." The Final Word on INO StockThe prospect of INO-4800 helping get the world get back to a more normal, healthy state is encouraging. INO stockholders should be encouraged by Inovio's efforts to be first to market with a coronavirus vaccine. And they can view any share-price dips as temporary as the company's progress should be reflected in the stock price soon enough.Louis Navellier had an unconventional start, as a grad student who accidentally built a market-beating stock system — with returns rivaling even Warren Buffett. In his latest feat, Louis discovered the "Master Key" to profiting from the biggest tech revolution of this (or any) generation. Louis Navellier may hold some of the aforementioned securities in one or more of his newsletters. More From InvestorPlace * Why Everyone Is Investing in 5G All WRONG * Top Stock Picker Reveals His Next 1,000% Winner * The 1 Stock All Retirees Must Own * Look What America's Richest Family Is Investing in Now The post Why You Shouldn't Rush to Take Profits on Inovio Stock appeared first on InvestorPlace.