3 Stocks I Saw on TV (AMZN, GOOGL, ALXN) (June 6, 2016)
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Every night we watch the same shows, Fast Money and Mad Money, and we want to USE those ideas the grow OUR money. Well good trading takes more than just pushing the buy button, every morning, to get the stocks you saw on TV last night into your portfolio. I’m here to help you make money on these 3 stocks I saw on TV.
We’re going to start off with Amazon ( NASDAQ:AMZN ) and then go to Google ( NASDAQ:GOOGL ). There’s a conversation on Fast Money about which stock to own. The consensus really was Amazon ( NASDAQ:AMZN ). Amazon ( NASDAQ:AMZN ) and Google ( NASDAQ:GOOGL ), they’re $4.00 apart. Totally different companies, obviously. But the idea is Amazon ( NASDAQ:AMZN ), Lex Luthor is running the company. Based on what they do they’re got a lot bigger opportunities for growth. Can anybody say, $1000.00? Sure you can. I’m looking here at the weekly chart, you can see the line that I’ve drawn across here on the last resistance line. I can get a $1000.00 projection for you here pretty easy.
Here’s resistance. Here’s the last support, right around 500.00 or so, we’ll call it down here. Okay, that is $183.00 from bottom to top. Then we just take that going forward, $183.00, that gets us to roughly 850.00, something like that. I’m looking at 850.00 as the next level for this stock to move to before it consolidates. Ultimately we’re going to have a drone drop it right on $1000.00 and that’s that. So I think Amazon ( NASDAQ:AMZN ) works like that.
Look at the price action between Google ( NASDAQ:GOOGL ) and Amazon ( NASDAQ:AMZN ). Here’s Google ( NASDAQ:GOOGL ), here’s Amazon ( NASDAQ:AMZN ). Upper right, Google ( NASDAQ:GOOGL ) kind of mired in the middle here. This is a stock that I guess ultimately you can buy, but if you’ve got 700 and some odd dollars to use, buy one stock of Amazon ( NASDAQ:AMZN ) not one stock of Google ( NASDAQ:GOOGL ). So far this is still just a trading stock. It’s in a sideways range. Amazon ( NASDAQ:AMZN ), it’s already been in that sideways range and it didn’t stay there as long as Google ( NASDAQ:GOOGL ) has.
Now the last one we’re going to look at is Alexion Pharmaceuticals ( NASDAQ:ALXN ). This stock had been kind of printing lower highs and lower lows after breaking out of the channel. After the market the company reported that Soliris, one of their proposed drugs that they’re doing a study on, 26 weeks in, not really working. Statistically, busted trade, nothing done. And so the stock immediately fell down to 140.00. Here’s your trade on this one: Watch to see how the stock acts on Tuesday morning. If it HOLDS at 140.00, Alexion ( NASDAQ:ALXN ) is not a one trick pony like some of these drug companies.
But if the stock holds at 140.00 then you want to go ahead and buy this stock with a stop just a little bit below below here, in the mid-high 130.00s, 136.00, 137.00, something like that, Just to have some risk management. But we need to make sure that the stock bounces at 140.00. If it doesn’t bounce then if you’re buying you’re buying a falling knife, and that doesn’t work out too well for anybody other than the knife. So wait for the stock to hit 140.00 and if it bounces off of there that’s a trading buy. You hold it, see how high it goes. You certainly don’t expect the stock or reverse because, “Oh boy, they’ve got a drug that doesn’t work.” But you can at least expect an oversold bounce, as long as the stock holds above $140.00.
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