US Markets

4 Top Stock Trades for Friday: AAL, AAPL, SLV, Bitcoin

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

Shares slipped lower on Thursday, as equities failed to climb on the day. With that in mind, let’s look at a few top stock trades as earnings season picks up steam. 

Top Stock Trades for Tomorrow No. 1: American Airlines (AAL)

top stock trades for AAL
Click to Enlarge

Source: Chart courtesy of

American Airlines (NASDAQ:AAL) has become a favorite among traders looking to play the industry. While the overall market is under pressure, AAL is churning out a gain on Thursday — up 3.6% after earnings. 

While being up on a down day in the market is good, the bullish notes end there. Shares remain below the 20-day and 50-day moving averages, while they continue to cling to $11 support. 

Over prior downtrend resistance (blue line) is a positive. However, bulls need to see a rotation over some of these key marks in order to gather some sustainable momentum. 

Those long against $11 need to see shares reclaim the 20-day and 50-day moving averages, and ideally climb to the 23.6% retracement near $13.50. Above $13.50, and AAL can gain steam, potentially running to the 38.2% retracement near $17.

Below $11 potentially puts $10 or lower in play. 

Top Stock Trades for Tomorrow No. 2: Apple (AAPL)

top stock trades for AAPL
Click to Enlarge

Source: Chart courtesy of

The action in Apple (NASDAQ:AAPL) was not encouraging on Thursday. What has been a market leader is now showing signs of waning momentum. 

Shares broke below the 10-day and 20-day moving averages on the day, as well as uptrend support (blue line). For now, the 138.2% extension at $370 brought in buyers, while the 161.8% extension continues to act as resistance near $400. 

If we see a further breakdown — either ahead of or after earnings — I want to see the $350 level act as support. There Apple finds the 123.6% extension and the 50-day moving average. For such a strong stock, this level should act as support, barring some atrocious news. 

On the upside, Apple needs to reclaim its 20-day moving average, then put $400 back on the table. 

Top Stock Trades for Tomorrow No. 3: Silver ETF (SLV)

top stock trades for SLV
Click to Enlarge

Source: Chart courtesy of

Silver has been on fire, with the iShares Silver ETF (NYSEARCA:SLV) erupting 17% so far this week. 

Shares broke out over $17.50, which was resistance in 2019 and 2020, then broke out over the 2016 highs near $19.50. From there, the SLV blasted through the 138.2% extension near $20.30. 

Ideally, the SLV will now hold up over $20 and the prior 2016 highs. On the upside, see if shares can rotate over this week highs at $21.51, putting the 161.8% extension in play near $21.91. 

Top Trades for Tomorrow No. 4: Bitcoin

top stock trades for Bitcoin
Click to Enlarge

Source: Chart courtesy of TradingView

Bitcoin has started to look more interesting after a quiet few weeks. For something as volatile as bitcoin, the asset has traded in a relative tight $1,000 range for the last few months. 

Shares broke out over downtrend resistance (blue line), reclaiming the 20-day and 50-day moving averages in the process. Let’s see if bitcoin can continue to run, putting $10,000 in play. 

Above $10,000 and stiff resistance between $10,350 and $10,500 is possible, before an even larger breakout could begin. On the downside, a close below the 50-day moving average puts $9,000 back on the table, followed by the 200-day moving average. 

Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell did not hold a position in any of the aforementioned securities.

The post 4 Top Stock Trades for Friday: AAL, AAPL, SLV, Bitcoin appeared first on InvestorPlace.

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

In This Story


Latest Markets Videos


InvestorPlace is one of America’s largest, longest-standing independent financial research firms. Started over 40 years ago by a business visionary named Tom Phillips, we publish detailed research and recommendations for self-directed investors, financial advisors and money managers.

Learn More